Caledonia Mining Corporation
OTC Bulletin Board : CALVF

Caledonia Mining Corporation

April 23, 2008 09:00 ET

Caledonia Grants an Extension for the Fulfilment of a Suspensive Condition of the Barbrook Sale Agreement

TORONTO, ONTARIO--(Marketwire - April 23, 2008) - Caledonia Mining Corporation ("Caledonia") (TSX:CAL)(OTCBB:CALVF)(AIM:CMCL) announces that Eastern Goldfields SA (Proprietary) Limited ("Eastern") has requested that the date for the fulfilment of the final suspensive conditions be extended to May 31, 2008.

As announced in the press release on February 25, 2008 all the suspensive conditions of the sale agreement were to be met within 60 days of acceptance of the offer to purchase. All suspensive conditions, apart from one, had been met by April 21, 2008.

Caledonia, as requested, has granted an extension to Eastern for the fulfillment of the final suspensive condition and Eastern paid Caledonia a SAR 5 million (C$ 659,850) installment towards the purchase price on April 21, 2008. This installment will be non-refundable in the event the final suspensive condition is not fulfilled.

Contact Information

  • Caledonia Mining
    Stefan Hayden
    President & CEO
    +27 11 447 2499
    Alex Buck
    +44 7932 740 452
    RBC Capital Markets
    Martin Eales
    +44 20 7029 7881