Caledonia Mining Corporation Plc Third Quarter Production at Blanket Mine

Rhea-AI Summary

Caledonia Mining (NYSE AMERICAN/AIM/VFEX: CMCL) reported gold production from Blanket Mine for the quarter ended Sept 30, 2025 of 19,106 ounces (Q3 2024: 18,992 oz). Gold produced in the nine months to Sept 30, 2025 was 58,846 ounces (2024: 56,815 oz).

Caledonia reiterated its increased 2025 production guidance of 75,500–79,500 ounces. The release also noted a workplace fatality related to secondary blasting and confirmed technical review by a Qualified Person under NI 43-101.

Positive

• Q3 2025 production of 19,106 ounces
• 9M 2025 production of 58,846 ounces
• 2025 guidance reiterated at 75,500–79,500 ounces

Negative

• Workplace fatality related to secondary blasting

Insights

Mining operations analyst

Production held steady in Q3 2025 and management reiterates raised 2025 guidance, supporting a modestly positive operational outlook.

Quarterly gold production was 19,106 ounces in Q3 2025, marginally above the prior-year quarter, and nine‑month output reached 58,846 ounces versus 56,815 ounces a year earlier. This consistency reflects ongoing ore throughput and recoveries at Blanket, and underpins the company’s reaffirmed 2025 guidance range of 75,500 to 79,500 ounces.

Key dependencies and risks remain operational execution and safety. The release cites a fatal incident tied to secondary blasting, highlighting safety and regulatory oversight as material near-term considerations. Also monitor assay finalization, smelter/refiner flows, and any updates that could change the company’s guidance assumptions.

Watch the full-year production run‑rate against the stated range through the fourth quarter and any operational updates by year-end 2025. Improved nine‑month output plus guidance reiteration is a near-term constructive signal, but the human‑safety incident requires attention to operational resilience and compliance.

Production tracking increased guidance at Blanket Mine

ST HELIER, Jersey, Oct. 21, 2025 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc (NYSE AMERICAN, AIM and VFEX: CMCL) ("Caledonia" or "the Company") announces gold production from the Blanket Mine in Zimbabwe ("Blanket") for the quarter ended September 30, 2025 ("Q3 2025" or the "Quarter"). All production numbers are expressed on a 100 per cent basis and are based on the final assay at the refiners.

Highlights

• Quarterly gold production of 19,106 ounces (Q3 2024: 18,992 ounces)
• Gold produced in the nine months to the end of September was 58,846 ounces (2024: 56,815 ounces).
• Caledonia reiterates its increased gold production guidance for 2025 of between 75,500 and 79,500 ounces.
  

Mark Learmonth, Chief Executive Officer, said:

 “We’re pleased to report another quarter of solid performance at Blanket, building on the exceptional start to the year.

“It is, however, with deep regret that we reported in September the loss of a Blanket Mine colleague following an accident related to secondary blasting. On behalf of Caledonia, I extend our heartfelt condolences to the family and colleagues of the deceased. The safety and well-being of our workforce remains our highest priority.

“The consistency of our output reflects the strategic investments we’ve made across the business and we remain on track to meet our increased production guidance.”

______
Refer to technical report “NI 43-101 Technical Report on the Blanket Gold Mine, Zimbabwe” with effective date December 31, 2023 prepared by Caledonia Mining Corporation Plc and filed by the Company on SEDAR+ (www.sedarplus.ca) on May 15, 2024

Craig James Harvey, MGSSA, MAIG, Caledonia’s Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this news release. Craig James Harvey is a "Qualified Person" as defined by each of (i) the Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects and (ii) sub-part 1300 of Regulation S-K of the U.S. Securities Act.

Enquiries

Caledonia Mining Corporation Plc Mark Learmonth Camilla Horsfall	Tel: +44 1534 679 800 Tel: +44 7817 841 793
Cavendish Capital Markets Limited (Nomad and Joint Broker) Adrian Hadden Pearl Kellie	Tel: +44 207 397 1965 Tel: +44 131 220 9775
Panmure Liberum (Joint Broker) Scott Mathieson	Tel: +44 20 3100 2000
Camarco, Financial PR (UK) Gordon Poole Elfie Kent	Tel: +44 20 3757 4980
Curate Public Relations (Zimbabwe) Debra Tatenda	Tel: +263 77802131
IH Securities (Private) Limited (VFEX Sponsor - Zimbabwe) Lloyd Mlotshwa	Tel: +263 (242) 745 119/33/39

Note: The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014 (“MAR”) as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and is disclosed in accordance with the Company's obligations under Article 17 of MAR. 

Cautionary Note Concerning Forward-Looking Information
Information and statements contained in this news release that are not historical facts are “forward-looking information” within the meaning of applicable securities legislation that involve risks and uncertainties relating, but not limited, to Caledonia’s current expectations, intentions, plans, and beliefs. Forward-looking information can often be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “goal”, “plan”, “target”, “intend”, “estimate”, “could”, “should”, “may” and “will” or the negative of these terms or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. The forward-looking information contained in this news release is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information. Such factors and assumptions include, but are not limited to: the successful implementation of mine plans, the establishment of estimated resources and reserves, the grade and recovery of minerals which are mined varying from estimates, success of future exploration and drilling programs, reliability of drilling, sampling and assay data, the representativeness of mineralization being accurate, success of planned metallurgical test-work, capital availability and accuracy of estimated operating costs, obtaining required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and Caledonia’s experience of project development in Zimbabwe and other factors.

To the extent any forward-looking information herein constitutes a financial outlook or future oriented financial information, any such statement is made as of the date hereof and included herein to provide prospective investors with an understanding of the Company's plans and assumptions. Security holders, potential security holders and other prospective investors should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. Such factors include, but are not limited to: risks relating to estimates of mineral reserves and mineral resources proving to be inaccurate, fluctuations in gold price, risks and hazards associated with the business of mineral exploration, development and mining, risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards, employee relations; relationships with and claims by local communities and indigenous populations; political risk; risks related to natural disasters, terrorism, civil unrest, public health concerns (including health epidemics or outbreaks of communicable diseases such as the coronavirus (COVID-19)); availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining or maintaining necessary licenses and permits, diminishing quantities or grades of mineral reserves as mining occurs; global financial condition, the actual results of current exploration activities, changes to conclusions of economic evaluations, and changes in project parameters to deal with unanticipated economic or other factors, risks of increased capital and operating costs, environmental, safety or regulatory risks, expropriation, the Company’s title to properties including ownership thereof, increased competition in the mining industry for properties, equipment, qualified personnel and their costs, risks relating to the uncertainty of timing of events including targeted production rate increase and currency fluctuations. Security holders, potential security holders and other prospective investors are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Caledonia undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

This news release is not an offer of the shares of Caledonia for sale in the United States or elsewhere. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the shares of Caledonia, in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such province, state or jurisdiction.

FAQ

How much gold did Caledonia (CMCL) produce at Blanket Mine in Q3 2025?

Caledonia reported 19,106 ounces of gold produced at Blanket Mine in Q3 2025.

What is Caledonia's 2025 gold production guidance for CMCL?

Caledonia reiterated guidance of 75,500–79,500 ounces of gold for 2025.

How much gold has Caledonia produced year-to-date through Sept 30, 2025?

Gold produced in the nine months to Sept 30, 2025 was 58,846 ounces.

Did Caledonia report any safety incidents at Blanket Mine in Q3 2025?

Yes; the company reported a workplace fatality related to secondary blasting and offered condolences.

Who reviewed the technical and scientific information in Caledonia's Q3 2025 release?

Craig James Harvey, Vice President Technical Services, a Qualified Person under NI 43-101 and Regulation S-K subpart 1300, reviewed and approved the technical information.

Where can investors find Caledonia's NI 43-101 technical report for Blanket Mine?

The NI 43-101 technical report (effective Dec 31, 2023) is filed on SEDAR+ and was referenced in the release.