Caledonia Announces Board Changes

FOR:  CALEDONIA MINING CORPORATION

TSX SYMBOL:  CAL
OTC Bulletin Board SYMBOL:  CALVF
AIM SYMBOL:  CMCL

October 31, 2008

Caledonia Announces Board Changes

TORONTO, ONTARIO--(Marketwire - Oct. 31, 2008) - Caledonia Mining Corporation ("Caledonia")
(TSX:CAL)(OTCBB:CALVF)(AIM:CMCL) announces the resignation of Mr Leigh A. Wilson as a non-executive director and his
immediate replacement by Mr Robert William Babensee.

Mr Wilson joined the Board of Caledonia in March 2008 as a non-executive Director and a member of the audit committee.
Mr Wilson leaves Caledonia with immediate effect due to other professional commitments.

Mr Babensee, 68 years old, is based in Toronto, Ontario, Canada and has been a member of the Institute of Chartered
Accountants of Ontario, Canada since 1968. From 1984 until his retirement in 2004, he was a partner of the Canadian
accounting firm BDO Dunwoody LLP as an assurance specialist. He served as Chief Financial Officer for Golden China
Resources Corporation, a natural resource company, between February 2005 and July 2006. Mr Babensee is also currently a
non-executive Director and a member of the audit, compensation and nominating committees of Apollo Gold Corporation,
which is listed on the Toronto Stock Exchange and has gold exploration, development and producing assets in Canada, the
USA and Mexico.

Commenting on the resignation of Mr Wilson and the appointment of Mr Babensee, Stefan Hayden, Chief Executive Officer of
Caledonia commented: "During his tenure at Caledonia, Leigh made a significant contribution to the deliberations of the
Board. On behalf of the Board of Caledonia, I thank him for his contributions and wish him every success in his future
endeavours. Mr Babensee brings a wealth of prior knowledge of and financial experience to Caledonia and I look forward
to working with him as we continue with Caledonia's growth and development."

There is no further information required to be disclosed under Schedule 2 (g) of the AIM Rules.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Caledonia Mining Corporation
Mark Learmonth
VP Corporate Development and Investor Relations
[phone]
Email: [e-mail]
Website: www.caledoniamining.com

OR

BuckBias
Alex Buck
[phone]

OR

RBC Capital Markets
Martin Eales
[phone]

Caledonia Mining Corp