Caledonia Mining : Technical Report June 2021

Caledonia Mining Corporation Plc

NI 43-101 Technical Report on the

Blanket Gold Mine, Zimbabwe

QUALIFIED PERSONS:

Mr. U Engelmann

BSc (Zoo. & Bot.), BSc Hons (Geol.)

Pr.Sci.Nat., MGSSA

Mr. D van Heerden

B Eng (Min.), MCom (Bus. Admin.), MMC,

Pr.Eng., FSAIMM, AMMSA

Minxcon Reference: M2019-067a

Effective Date: 1 January 2020

Version: Final 210517

Issue Date: 17 May 2021

Prepared by Minxcon (Pty) Ltd

Suite 5 Coldstream Office Park,

Little Falls, Roodepoort, South Africa

Tel: [phone]

Directors: D v Heerden, NJ Odendaal, U Engelmann

Company Registration No.: 2004/029587/07

Caledonia Mining Corporation Plc
NI 43-101 Technical Report on the Blanket Gold Mine, Zimbabwe	i

DATE AND SIGNATURE PAGE

This Report titled "NI 43-101 Technical Report on the Blanket Gold Mine, Zimbabwe" was prepared on behalf of Caledonia Mining Corporation Plc. The Report is compliant with National Instrument 43-101 and Form 43- 101 F1. The effective date of this Report is 1 January 2020.

The Qualified Persons responsible for this Report are Mr. Uwe Engelmann (Geology and Mineral Resources) and Mr. Daniel (Daan) van Heerden (Mineral Processing, Mineral Extraction and Mineral Reserves).

U ENGELMANN

BSc (Zoo. & Bot.), BSc Hons (Geol.)

Pr.Sci.Nat., MGSSA

DIRECTOR, MINXCON (PTY) LTD

D VAN HEERDEN

B Eng (Min.), MCom (Bus. Admin.), MMC

Pr.Eng., FSAIMM, AMMSA

DIRECTOR, MINXCON (PTY) LTD

Signed at Little Falls, Gauteng, South Africa, on 17 May 2021.

Caledonia Mining Corporation Plc
NI 43-101 Technical Report on the Blanket Gold Mine, Zimbabwe	ii

ASSISTANT NON-QUALIFIED PERSONS

KC Osburn (Senior Resource Geologist)	M Antoniades (Geologist)
MSc (Geol.), Pr.Sci.Nat., MGSSA	BSc Hons (Geol.), Pr.Sci.Nat., MGSSA

RG van der Colff (Mining Engineer)	G Kleyn (Mining Engineer)
B Eng (Min.), Cand.Eng., ASAIMM	B Eng (Min.), ASAIMM, AMMSA

D Terblanche (Senior Process Engineer)	FJ Visser (Mechanical Engineer)
B Eng (Chem.), Cand.Eng., MSAIMM	B Eng (Min.), GCC

J Scholtz (Mining Engineer & Valuator)

B Eng Hons (Min.), Cand.Eng., ASAIMM

REVIEWED

NJ Odendaal (Director)

BSc (Geol.), BSc Hons (Min. Econ.), MSc (Min. Eng.), Pr.Sci.Nat., FSAIMM, MGSSA

Caledonia Mining Corporation Plc
NI 43-101 Technical Report on the Blanket Gold Mine, Zimbabwe	iii

CERTIFICATE of QUALIFIED PERSON - U Engelmann

I, Uwe Engelmann, do hereby certify that:-

1. I am a Director of Minxcon (Pty) Ltd Suite 5, Coldstream Office Park,
   2 Coldstream Street,
   Little Falls, Roodepoort, South Africa
2. I graduated with a BSc Honours (Geology) degree from the University of the Witwatersrand in 1991.
3. I have more than 23 years' experience in the mining and exploration industry. This includes eight years as an Ore
   Resource Manager at the Randfontein Estates Projects on the West Rand. I have completed a number of assessments and technical reports pertaining to various commodities, including gold, using approaches described by the National Instrument 43-101 (Standards of Disclosure for Mineral Projects), Form 43-101F1 and the Companion Policy Document 43-101CP ("NI 43-101").
4. I am affiliated with the following professional associations which meet all the attributes of a Professional Association or a Self-Regulatory Professional Association, as applicable (as those terms are defined in NI 43-101):-

	Class			Professional Society			Year of
					Registration
	Member		Geological Society of South Africa (MGSSA No. 966310)	2010
	Professional		South African Council for Natural Scientific Professions (Pr.Sci.Nat. Reg. No.	2008
	Natural Scientist	400058/08)

1. I am responsible for Items 1-12 and 14 of the technical report titled "NI 43-101 Technical Report on the Blanket Gold Mine, Zimbabwe" prepared for Caledonia Mining Corporation Plc with an effective date of 1 January 2020 ("the Report").
2. I have read the definition of "Qualified Person" set out in NI 43-101 and certify that by reason of my education, affiliation with professional associations and past relevant work experience, I fulfil the requirements to be a Qualified Person for the purposes of the Report.
3. I have read NI 43-101 and the Report has been prepared in compliance with it.
4. As of the effective date, to the best of my knowledge, information and belief, the Report contains all scientific and technical information required to be disclosed to make the Report not misleading.
5. I am independent of Caledonia Mining Corporation Plc as such term is defined in Section 1.5 of NI 43-101. My compensation, employment or contractual relationship with the Commissioning Entity is not contingent on any aspect of the Report.
6. My previous involvement in the subject property relates to exploration data review and Mineral Resource estimation as compiled into the report titled "A Technical Report on the Blanket Mine in the Gwanda Area, Zimbabwe", prepared for Caledonia Mining Corporation with an effective date of 9 July 2015. I also independently reviewed the report titled "National Instrument 43-101 Technical Report on the Blanket Mine, Gwanda Area, Zimbabwe (Updated
   February 2018)" of 13 February 2018 by Caledonia Mining Corporation.
7. I undertook a personal inspection of the subject property on 19-23 August 2019 to review the Mineral Resource systems on the operation which included an underground visit to observe the mining and geology.

Signed at Little Falls, Roodepoort on 17 May 2021.

U ENGELMANN

BSc (Zoo. & Bot.), BSc Hons (Geol.)

Pr.Sci.Nat., MGSSA

DIRECTOR, MINXCON

Caledonia Mining Corporation Plc
NI 43-101 Technical Report on the Blanket Gold Mine, Zimbabwe	iv

CERTIFICATE of QUALIFIED PERSON - D v Heerden

I, Daniel (Daan) van Heerden, do hereby certify that:- 1. I am a Director of Minxcon (Pty) Ltd

Suite 5, Coldstream Office Park, 2 Coldstream Street,

Little Falls, Roodepoort, South Africa

2.	I graduated with a B Eng (Mining) degree from the University of Pretoria in 1985 and an MCom (Business
	Administration) degree from the Rand Afrikaans University in 1993. In addition, I obtained diplomas in Data Metrics
	from the University of South Africa and Advanced Development Programme from London Business School in 1989 and
	1995, respectively. In 1989 I was awarded with a Mine Managers Certificate from the Department of Mineral and
	Energy Affairs.
3.	I have worked as a Mining Engineer for more than 30 years with my specialisation lying within Mineral Reserve and
	mine management. I have completed a number of Mineral Reserve estimations and mine plans pertaining to various
	commodities, including gold, using approaches described by the National Instrument 43-101 (Standards of Disclosure
	for Mineral Projects), Form 43-101F1 and the Companion Policy Document 43-101CP ("NI 43-101").
4.	I am affiliated with the following professional associations, which meet all the attributes of a Professional Association
	or a Self-Regulatory Professional Association, as applicable (as those terms are defined in NI 43-101):-
	Class			Professional Society			Year of
					Registration
	Professional		Engineering Council of South Africa (Pr.Eng. Reg. No. 20050318)		2005
	Engineer
	Member		Association of Mine Managers of SA		1989
	Fellow		South African Institute of Mining and Metallurgy (FSAIMM Reg. No. 37309)		1985
5.	I am responsible Items 1-6, 13, 15-18,20-21,23-27 and the technical report titled "NI 43-101 Technical Report on
	the Blanket Gold Mine, Zimbabwe" prepared for Caledonia Mining Corporation Plc with an effective date of 1 January
	2020 ("the Report").
6.	I have read the definition of "Qualified Person" set out in NI 43-101 and certify that by reason of my education,
	affiliation with professional associations and past relevant work experience, I fulfil the requirements to be a
	Qualified Person for the purposes of the Report.
7.	I have read NI 43-101 and the Report has been prepared in compliance with it.
8.	As of the effective date, to the best of my knowledge, information and belief, the Report contains all scientific and
	technical information required to be disclosed to make the Report not misleading.
9.	I am independent of Caledonia Mining Corporation Plc as such term is defined in Section 1.5 of NI 43-101. My
	compensation, employment or contractual relationship with the Commissioning Entity is not contingent on any aspect
	of the Report.

10. I have previously acted as Qualified Person for the complete sign-off of the report titled "A Technical Report on the Blanket Mine in the Gwanda Area, Zimbabwe", prepared for Caledonia Mining Corporation with an effective date of 9 July 2015. I also independently reviewed the report titled "National Instrument 43-101 Technical Report on the Blanket Mine, Gwanda Area, Zimbabwe (Updated February 2018)" of 13 February 2018 by Caledonia Mining Corporation.

11. I undertook a personal inspection of the property on 22-24 October 2014. A site visit for compilation of this Report was not possible due to COVID-19 induced travel restrictions.

Signed at Little Falls, Roodepoort on 17 May 2021.

D v HEERDEN

B Eng (Min.), MCom (Bus. Admin.), MMC

Pr.Eng., FSAIMM, AMMSA

DIRECTOR, MINXCON