Caledonia Mining Corporation Announces Admissio...

FOR:  CALEDONIA MINING CORPORATION

TSX SYMBOL:  CAL
OTC Bulletin Board SYMBOL:  CALVF

June 22, 2005

Caledonia Mining Corporation Announces Admission to the AIM Market of the London Stock Exchange and Pounds
Sterling 1.57 million Placing

TORONTO, ONTARIO--(CCNMatthews - June 22, 2005) - Caledonia Mining Corporation ("Caledonia") (TSX:CAL)(NASDAQ-
OTCBB:CALVF) is pleased to announce it expects to be admitted to the London Stock Exchange's AIM market on
Monday 27 June 2005 under ticker symbol CMCL.L, and to successfully complete a placing of 34,888,888 shares,
raising Pounds Sterling 1.57 million (before expenses) at 4.5p per share (approximately C$3,536,268).

Caledonia is a diversified mining and exploration company focused in Southern Africa and Canada. The company's
portfolio of assets include the operating Barbrook gold mine in South Africa and three advanced exploration
projects, the Rooipoort Platinum Project in South Africa, the Mulonga Plain Diamond Joint Venture and the Nama
Cobalt Project in Zambia. Caledonia recently announced it had signed a Letter of Intent with a cobalt refinery
for the long-term supply of cobalt concentrate from Nama, on condition the testwork and commercial process is
satisfactory.

This multi-commodity and multi-geographic approach reduces overall risk exposure to commodity prices, socio-
economic challenges, currencies and technical risks. Caledonia believes that this approach is preferable to
that adopted by single project / single commodity resource companies.

Caledonia's President and CEO, Stefan Hayden said: "I am delighted with Caledonia's admission to London's AIM
market, which successfully accomplishes yet another of our stated objectives for 2005. This listing will
facilitate UK and European institutions and investors becoming shareholders in Caledonia, and will further
broaden the shareholder base, ultimately benefiting all shareholders.

I am also encouraged that Caledonia was able to raise Pounds Sterling 1.57 million, given the current difficult
market conditions in London. These proceeds will be used to further advance our exploration projects, in
particular the Nama Cobalt and the Rooipoort Platinum Projects, as well as part fund some capital expenditure
required at our operating gold mine Barbrook."

Caledonia currently has 301,112,286 ordinary shares in issue, which will increase to 336,001,174 shares when
the new London placing is completed. Caledonia has 27,232,909 share purchase warrants and 16,908,700 share
purchase options outstanding. Seymour Pierce Limited is the Nominated Adviser and Broker to Caledonia in the
United Kingdom.

Further information regarding Caledonia's exploration activities and operations, along with its latest
financials may be found at www.caledoniamining.com.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Caledonia Mining
Stefan Hayden
President and CEO
[phone]
www.caledoniamining.com

OR

BuckBias
Alex Buck / Nick Bias
[phone]

OR

Seymour Pierce
Jeremy Porter
[phone]

Caledonia Mining Corporation