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Caledonia Mining Corporation Plc: Appointment of New Chief Financial Officer

1. CFO Chester Goodburn will step down on March 24, 2025. 2. Ross Jerrard, former CFO of Centamin plc, is his immediate successor. 3. Goodburn has been with Caledonia since 2014, contributing to its growth. 4. Jerrard's experience includes managing substantial gold mining operations. 5. Transition aims for continuity while pursuing mid-tier gold production strategy.

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Why Bullish?

Leadership change may signify strategic growth. Ross Jerrard's expertise could enhance CMCL performance.

How important is it?

New financial leadership can significantly affect corporate strategy and market confidence.

Why Long Term?

New CFO might influence direction over years. Past leadership changes often take time to reflect in stock performance.

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CENAUYGOLD
ST HELIER, Jersey, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc ("Caledonia" or "the Company") (NYSE AMERICAN, AIM and VFEX: CMCL) announces that its Chief Financial Officer (“CFO”), Chester Goodburn, will step down from his role on 24 March 2025, following the publication of Caledonia’s financial results for the year to December 31, 2024. He will be succeeded, with immediate effect, by Ross Jerrard, subject to satisfaction of standard checks. Mr Goodburn has served as Caledonia’s CFO since July 1, 2022, prior to which he had been Caledonia’s Group Financial Manager and Chief Information Officer. Mr Goodburn will be retained on a consultancy basis for a brief period to ensure an orderly transition. Mr Jerrard, aged 50, brings extensive experience in financial leadership, having been the CFO of Centamin plc from April 2016 until its acquisition by AngloGold Ashanti Plc in November 2024 for a deal value of $2.5 billion. Centamin was a former FTSE-250 dual-listed (London and Canada) mining company with operations in Egypt and West Africa. Centamin’s flagship asset was the Sukari gold mine in Eqypt which is one of the world’s largest gold mines producing 450,000 ounces of gold per annum. Mr Jerrard is a member of the Institute of Chartered Accountants of Australia and New Zealand and the Institute of Chartered Accountants of Zimbabwe. Mark Learmonth, Chief Executive Officer, said: “Chester has made a substantial contribution to Caledonia’s growth since he joined us in 2014, the last two-and-a-half years as CFO. Along with the board and his colleagues, I thank him for his time at Caledonia and we wish him well in his future endeavours. “I am pleased to welcome Ross to Caledonia. He brings a depth and breadth of experience which will be invaluable to Caledonia as we advance our strategy to become a mid-tier, Zimbabwe-focussed gold producer.” Enquiries Caledonia Mining Corporation PlcMark LearmonthCamilla HorsfallTel: +44 1534 679 800Tel: +44 7817 841 793  Cavendish Capital Markets Limited (Nomad and Joint Broker)Adrian Hadden Pearl KellieTel: +44 207 397 1965Tel: +44 131 220 9775  Panmure Liberum (Joint Broker)Scott Mathieson/ Ailsa MacMasterTel: +44 20 3100 2000  Camarco, Financial PR (UK)Gordon PooleJulia TilleyElfie KentTel: +44 20 3757 4980  3PPB (Financial PR, North America)Patrick ChidleyPaul DurhamTel: +1 917 991 7701Tel: +1 203 940 2538  Curate Public Relations (Zimbabwe)Debra TatendaTel: +263 77802131  IH Securities (Private) Limited (VFEX Sponsor - Zimbabwe)Lloyd MlotshwaTel: +263 (242) 745 119/33/39

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