Caledonia Mining Appoints New Director

TORONTO, ONTARIO--(Marketwire - May 15, 2012) - Caledonia Mining Corporation ("Caledonia") (TSX:CAL)(OTCQX:CALVF)(AIM:CMCL) is pleased to announce the appointment of Mr. Richard Patricio as a Non-Executive Director of Caledonia with immediate effect.

Mr. Patricio is Vice President Legal and Corporate Affairs at Pinetree Capital ("Pinetree"), a Toronto-based resource-specialist investor and long-standing shareholder in Caledonia. As at May 14, 2012, Pinetree held interests amounting to approximately 10.1% of the issued share capital of the Company.

Mr. Patricio currently holds directorships with several Canada-based resource companies and previously practiced law at Oslers LLP in Toronto and worked as in-house General Counsel for Teknion Corporation. Mr. Patricio is a lawyer qualified to practice in the Province of Ontario.

Commenting on Mr Patricio's appointment, Stefan Hayden, Caledonia's President and Chief Executive Officer, said: "I am delighted to welcome Richard to Caledonia. I am confident that his perspective and experience will be a valuable addition to the board."

Further information on Richard J. Patricio (38 years old):

Mr. Patricio is currently a director of the following companies:

• X-Terra Resources Corporation
• Dejour Energy Inc.
• U308 Corp.
• Mega Precious Metals Inc.
• Terreno Resources Corp.
• Mooncor Oil & Gas Corp.
• Energy Fuels Inc.

• Quetzal Energy Ltd.
• Titan Uranium Inc.

Save as set out in this announcement, there are no further matters to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules for Companies.

Further information regarding Caledonia's exploration activities and operations along with its latest financials and Management Discussion and Analysis may be found at www.caledoniamining.com.