Change of Adviser

FOR:  CALEDONIA MINING CORP

TSX SYMBOL:  CAL

OTC Bulletin Board SYMBOL:  CALVF

AIM SYMBOL:  CMCL

January 27, 2011

Caledonia Mining Corporation: Change of Adviser

TORONTO, ONTARIO--(Marketwire - Jan. 27, 2011) - Caledonia Mining Corporation ("Caledonia")
(TSX:CAL)(OTCBB:CALVF)(AIM:CMCL) is pleased to announce that it has appointed Collins Stewart Europe Limited as
its Nominated Adviser and Broker with immediate effect.

This appointment has been made inter alia to assist Caledonia's marketing efforts to Institutional Investors in
the United Kingdom and Europe.

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 Corporation

Mark Learmonth

[phone]

[e-mail]

www.caledoniamining.com

OR

BuckBias

Alex Buck

[phone]

OR

Collins Stewart Europe Limited

John Prior/Sebastian Jones

[phone]

Caledonia Mining Corp