Caledonia Files New NI 43-101 Report on Blanket Mine
TORONTO, ONTARIO -- (Marketwire) -- 07/04/11 -- Caledonia Mining Corporation ('Caledonia') (TSX: CAL)(OTCBB: CALVF)(AIM: CMCL) has received a new Technical Report, compliant with Canadian Securities National Instrument 43-101, on its Blanket Mine in Zimbabwe. The Report, dated June 28, 2011, by Johannesburg based independent geological consultants, The MSA Group, was commissioned in order to obtain a current independent verification of the Blanket Mine's reserves and resources in compliance with Caledonia's reporting requirements. The Report summarises the Reserve and Resource information based on a gold price of US$ 1,100.00 per ounce, as at December 31, 2010 as follows:
Mineral Resources
Resources are reported exclusive of Reserves.
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grade
Classification tonnes (Au g/t) Au ounces
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Indicated 510,000 3.79 62,100
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Inferred 2,408,000 5.27 (ii)
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Note(ii) Quantities of metals are not reported for Inferred Resources
Mineral Reserves
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grade
Classification tonnes (Au g/t) Au ounces
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Proven 1,326,000 4.02 171,400
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Probable 2,514,000 3.66 295,800
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TOTAL 3,840,000 3.78 467,200
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Dr. Trevor Pearton, the company's Vice President, Exploration, who is a Fellow of the Geological Society of South Africa and is Caledonia's qualified person for Blanket Mine, has reviewed and approved the contents of this news release.
The Report, entitled 'Technical Report on the Blanket Gold Mine, Zimbabwe' can be viewed on the Company's website or in SEDAR at www.sedar.com.
Further information regarding Caledonia's exploration activities and operations along with its latest financials may be found at www.caledoniamining.com.
Contacts:
Caledonia Mining
Mark Learmonth
27 11 447 2499
marklearmonth@caledoniamining.com
BuckBias
Alex Buck
44 7932 740 452
Collins Stewart Europe Limited
John Prior/Sebastian Jones
44 (0)20 7523 8350
Renmark Financial Communications Inc
John Boidman/Dustin Buenaventura
514 939 3989 or 416 644 2020
jboidman@renmarkfinancial.com
dbuenaventura@renmarkfinancial.com
www.renmarkfinancial.com