Caledonia Mining Corporation Plc Notification of relevant change to significant shareholder

Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) ("Caledonia" or the "Company") announces that it received notification on March 4, 2022 from Van Eck Associates Corporation, which is a "significant shareholder" of the Company as defined by the AIM Rules for Companies, that it has changed its interest in the Company and on March 3, 2022 crossed a particular threshold for notification of its holdings in the Company. A copy of the notification is below.

Enquiries:

Caledonia Mining Corporation PlcMark LearmonthCamilla Horsfall	Tel: [phone]Tel: [phone]
WH IrelandAdrian Hadden/ Andrew De Andrade	Tel: [phone]
Blytheweigh Financial PRTim Blythe/Megan Ray	Tel: [phone]
3PPBPatrick ChidleyPaul Durham	Tel: [phone]Tel: [phone]
Curate Public Relations (Zimbabwe)Debra Tatenda	Tel: [phone]

Note: The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:				Caledonia Mining Corp PLC
1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer								X
2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights								X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify)iii:
3. Details of person subject to the notification obligationiv
Name				Van Eck Associates Corporation
City and country of registered office (if applicable)				New York, NY USA
4. Full name of shareholder(s) (if different from 3.)v
Name				VanEck Junior Gold Miners ETFVanEck Junior Gold Miners UCITS ETF
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reachedvi:				03/03/2022
6. Date on which issuer notified (DD/MM/YYYY):				04/03/2022
7. Total positions of person(s) subject to the notification obligation
	% of voting rights attached to shares (total of 8. A)		% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)		Total of both in % (8.A + 8.B)		Total number of voting rights of issuervii
Resulting situation on the date on which threshold was crossed or reached	4.008	%			4.008	%	514,346
Position of previous notification (if applicable)	508,200				3.9838	%

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii
A: Voting rights attached to shares
Class/type ofsharesISIN code (if possible)		Number of voting rightsix					% of voting rights
		Direct(Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect(Art 10 of Directive 2004/109/EC) (DTR5.2.1)			Direct(Art 9 of Directive 2004/109/EC) (DTR5.1)			Indirect(Art 10 of Directive 2004/109/EC) (DTR5.2.1)
JE00BF0XVB15		514,346					4.008		%
SUBTOTAL 8. A		514,346					4.008				%
B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Type of financial instrument		Expirationdatex	Exercise/ Conversion Periodxi			Number of voting rights that may be acquired if the instrument is exercised/converted.				% of voting rights
			SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of financial instrument	Expirationdatex		Exercise/ Conversion Period xi		Physical or cash settlementxii			Number of voting rights		% of voting rights
					SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii
Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)
Namexv	% of voting rights if it equals or is higher than the notifiable threshold		% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
VanEck Junior Gold Miners ETF	3.64	%		3.64		%
VanEck Junior Gold Miners UCITS ETF	0.368	%		0.368		%
10. In case of proxy voting, please identify:
Name of the proxy holder			Glass Lewis
The number and % of voting rights held			514,346 shares and 4.008% voting right
The date until which the voting rights will be held			Open
11. Additional informationxvi

Place of completion	Tampa, FL
Date of completion	4 March 2022