TORONTO, ONTARIO--(Marketwire - Sept. 13, 2012) - Caledonia Mining Corporation ("Caledonia" or "the Company") (TSX:CAL)(OTCQX:CALVF)(AIM:CMCL) announces that it has, effective September 10, 2012, granted share purchase options over ordinary shares of nil par value in the Company ("Ordinary Shares") to its directors, officers and employees, and directors and employees of certain of its subsidiary companies. A total of 9,319,000 new options have been granted with 5-year terms, exercisable from September 10, 2012 until September 10, 2017 at a price of $0.09 (Cdn.) per Ordinary Share. Options were granted to the following directors of the Company:
| Name of director | Position | Number of new options granted | Total options held following grant | Total options as % of issued share capital | ||||
| Christopher Harvey | Director | 400,000 | 2,400,000 | 0.47 | ||||
| Stefan Hayden | Director, President & Chief Executive Officer | 1,400,000 | 10,400,000 | 2.05 | ||||
| James Johnstone | Director | 400,000 | 2,400,000 | 0.47 | ||||
| Carl Jonsson | Director, Chairman & Secretary | 400,000 | 3,000,000 | 0.59 | ||||
| Steve Curtis | Director, V-P Finance & Chief Financial Officer | 1,200,000 | 6,300,000 | 1.24 | ||||
| Robert Babensee | Director | 400,000 | 2,650,000 | 0.52 | ||||
| Richard Patricio | Director | 900,000 | 900,000 | 0.18 | ||||
| Leigh Wilson | Director | 900,000 | 900,000 | 0.18 | ||||
| John Kelly | Director | 900,000 | 900,000 | 0.18 |
Caledonia has in place a floating Option Plan ("the Plan") pursuant to which it has previously had 30,540,000 options issued. The newly granted options will bring the total number of options outstanding to 39,859,000 - equivalent to approximately 7.85% of Caledonia's issued share capital. Pursuant to the Plan, Caledonia has the authority to issue options equal to 10% of its issued share capital.
Contact Information:
Mark Learmonth
+ 27 11 447 2499
marklearmonth@caledoniamining.com
Canaccord Genuity Limited
John Prior / Sebastian Jones
+ 44 20 7523 8350
Newgate Threadneedle
Beth Harris / Josh Royston
+44 20 7653 9850
CHF Investor Relations
Stephanie Fitzgerald
+1 416 868 1079 x 222
stephanie@chfir.com