Caledonia Mining Corporation Plc announced an upgrade to the Mineral Resource and Mineral Reserve base at its 64% owned subsidiary, the Blanket Mine in Zimbabwe. Total Proven and Probable Mineral Reserves increased by 1% to 528,000 ounces (17% including depletion of 84,925 ounces since last update) and a 12% increase in total Measured and Indicated Mineral Resources to 902,000 ounces (23% increase including depletion). The report fully validates the Company’s medium term production profile targeting 80,000 ounces per annum from 2022. Minxcon (Pty) Ltd. were commissioned by the Company to produce an updated Mineral Resource and Mineral Reserve estimation based upon existing data, but reflecting the completion of Central Shaft, historic mining and taking the opportunity to further digitise data and embrace the latest analytical tools. The report was commissioned based upon data struck at 1 January 2020, albeit its completion was delayed by the impacts of the Covid pandemic. The Mineral Reserve grade of 3.38 g/t remained unchanged from July 2018 with the Mineral Reserve cut-off grade also remaining unchanged at 2.1 g/t. Total M&I now stand at 8.5 million tonnes at a grade of 3.29 g/t, a 12% reduction in grade although the updated Mineral Resource grade remains consistent with current Blanket run of mine grade. Inferred Mineral Resources at Blanket have decreased by 10% from 963,000 ounces, as at July 2018, to 866,000 ounces as at January 1, 2020. As mentioned above, the decrease is due to approximately 18% of Inferred Mineral Resources being converted to the M&I category and the lack of deep drilling exploration over the last 12 months awaiting the development of new drilling platforms on the lower levels via the recently commissioned Central Shaft. Lower grade Inferred Mineral Resources were added due to lowering the Mineral Resource cut-off grade to 1.5 g/t from 2.1 g/t as a result of a higher gold price. Total Inferred Mineral Resources now stand at 8.5 million tonnes at a grade of 3.17 g/t. The reduction in Mineral Resource grade is due to a combination of the Mineral Resource cut-off grade being lowered, as mentioned, adding lower grade Mineral Resources in all categories, and an updated interpretation of the ore bodies with additional geological information. Blanket's Mineral Resources have grown by approximately 86% since 2011 despite mining over 400,000 ounces over this period.