2012-11-22 19:54:28 -

TORONTO, ONTARIO -- (Marketwire) -- 11/22/12 -- Caledonia Mining Corporation ("Caledonia" or the "Company") (TSX:CAL)(OTCQX:CALVF)(AIM:CMCL), received notice on November 20, 2012 that Mark Learmonth, a Person Disclosing Managerial Responsibility (PDMR) of the Company, exercised options over an aggregate 562,500 ordinary shares in the Company ("Ordinary Shares") at an exercise price of Cdn$0.07 per share.



Following this transaction, Mark Learmonth and persons connected to him have interest in 920,000 Ordinary Shares representing approximately 0.2% of the Company's issued ordinary share capital, all of which are held beneficially.


Following this notification, the Company has 508,461,780 Ordinary Shares in issue.



Contacts:

Caledonia Mining Corporation

Mark Learmonth

+ 27 11 447 2499
marklearmonth@caledoniamining.com :


Canaccord Genuity Limited

Andrew Chubb / Sebastian Jones

+ 44 20 7523 8350


Newgate Threadneedle

Terry Garrett / Beth Harris / Graham Herring

+ 44 20 7653 9850


CHF Investor Relations

Jeremy Hill

+ 1 416 868 1079 x 238
jeremy@chfir.com :