TORONTO, ONTARIO--(MARKET WIRE)--Apr 23, 2008 -- Caledonia Mining Corporation ("Caledonia") (Toronto:CAL.TO - News)(OTC BB:CALVF.OB - News)(AIM: CMCL) announces that Eastern Goldfields SA (Proprietary) Limited ("Eastern") has requested that the date for the fulfilment of the final suspensive conditions be extended to May 31, 2008.

As announced in the press release on February 25, 2008 all the suspensive conditions of the sale agreement were to be met within 60 days of acceptance of the offer to purchase. All suspensive conditions, apart from one, had been met by April 21, 2008.

Caledonia, as requested, has granted an extension to Eastern for the fulfillment of the final suspensive condition and Eastern paid Caledonia a SAR 5 million (C$ 659,850) installment towards the purchase price on April 21, 2008. This installment will be non-refundable in the event the final suspensive condition is not fulfilled.

     Contacts:
     Caledonia Mining
     Stefan Hayden
     President & CEO
     +27 11 447 2499
     Website: http://www.caledoniamining.com
      
     BuckBias
     Alex Buck
     +44 7932 740 452
      
     RBC Capital Markets
     Martin Eales
     +44 20 7029 7881