TORONTO, ONTARIO -- (Marketwired) -- 04/30/15

Caledonia Mining Corporation (the "Company") (TSX: CAL)(OTCQX: CALVF)(AIM: CMCL) announces that it has received notification today that mutual funds managed by Allan Gray, a South African investment trust/fund manager have increased their interest in the Company to 7,039,500 common shares from 6,382,500 common shares, representing 13.5 per cent of the current issued share capital of the Company.

Contacts:
Caledonia Mining Corporation
Mark Learmonth
+27 11 447 2499
marklearmonth@caledoniamining.com

Numis
John Prior/Paul Gillam/James Black
+44 20 7260 1000

Blytheweigh
Halimah Hussain/Megan Ray
+44 20 7138 3204

WH Ireland
Adrian Hadden/James Bavister
+44 20 7220 1751