Caledonia Mining Corporation Plc Reiterates Production Guidance for the Year 2023

Caledonia Mining Corporation Plc is a gold production, exploration and development company focused on Zimbabwe. The Company owns a 64% stake in the gold-producing Blanket Mine (Blanket), 100% stakes in the Bilboes mine and the Motapa and Maligreen gold mining claims, all situated in Zimbabwe. The Blanket Gold Mine is a Zimbabwean gold mine, which operates at a depth of approximately 750 meters below surface and produced approximately 55,000 ounces of gold. Blanket also holds brownfield exploration and development projects both on the existing mine area and on its satellite properties which are within trucking distance of the Blanket metallurgical recovery plant. It also holds Motapa gold exploration property in Southern Zimbabwe. The Maligreen project is a property situated in the Gweru mining district in the Zimbabwe Midlands. The Bilboes is a large, high grade gold deposit located approximately 75 kilometers (km) north of Bulawayo, Zimbabwe.