Suite 4009 ● 1 King Street West ● Toronto Ontario ● Canada ● M5H 1A1 Tel: +1(416) 369-9835

Fax: +1(416) 369-0449 www.caledoniamining.com

Caledonia Mining Corporation (TSX: CAL, OTCQX: CALVF, AIM: CMCL) Caledonia confirms receipt of the full sales proceeds from Fidelity Printers and Refiners January 29, 2014: "Further to the Press Release of 28 January 2014, Caledonia confirms receipt of the full sales proceeds from Fidelity Printers and Refiners for the gold which was delivered to it by Blanket Mine on January 28 2014. Shareholders should assume that all future sale proceeds are received in full and on the due date unless otherwise notified". Caledonia Mining Corporation

Mark Learmonth

Tel: +27 11 447 2499 marklearmonth@caledoniamining.com

Numis

John Prior/Jamie Loughborough/ James Black

Tel: +44 20 7260 1000

Blythe Weigh

Tim Blythe/Halimah Hussain/Camilla

Horsfall

Tel: +44 20 7138 3200

WH Ireland

Adrian Hadden/Nick Field

Tel: +44 20 7220 1751

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