Mokopane, Limpopo Province, South Africa Qualified Persons Report Rooipoort PGE Prepared by RSG Global on behalf of: Caledonia Mining Corporation Rooipoort PGE Mokopane, Limpopo Province, South Africa Qualified Persons Report Prepared by RSG Global on behalf of: Caledonia Mining Corporation Author(s): Julian Verbeek Principal Consultant Resources (MAusIMM) Ken Lomberg Senior Consultant Resources (SACNASP) Date: December 2005 Job Number: JROO02 Copies: Caledonia Mining Corporation (2) RSG Global – Perth (1) Primary Author Supervising Principal Julian Verbeek Colin Jones P:\Projects\SOUTHERN AFRICA REPORTS\Caledonia Mining_JROO01\jr_JROO01_43-101_Rooipoort_Final.doc Table of Contents 1 Summary.........................................................................................................................................................................1 2 Introduction and Terms of Reference .........................................................................................................................3 2.1 Scope of the Report....................................................................................................................................................3 2.2 Principal Sources of Information.................................................................................................................................3 2.3 Qualifications and Experience ....................................................................................................................................3 2.4 Independence.............................................................................................................................................................4 3 Disclaimer.......................................................................................................................................................................5 4 Property Description and Location .............................................................................................................................6 4.1 Demographics and Geographic Setting......................................................................................................................6 4.2 Political and Financial Status......................................................................................................................................6 4.3 Mining Industry ...........................................................................................................................................................7 4.3.1 Mining Tenure...........................................................................................................................................11 4.4 Project Location........................................................................................................................................................11 4.5 Land Area .................................................................................................................................................................11 4.6 Prospecting Rights Description ................................................................................................................................12 4.7 Agreements and Encumbrances ..............................................................................................................................14 4.8 Environmental Liabilities and Permits.......................................................................................................................14 5 Accessibility, Climate, Local Resources, Infrastructure and Physiography.........................................................15 5.1 Access ......................................................................................................................................................................15 5.2 Climate .....................................................................................................................................................................16 5.3 Physiography............................................................................................................................................................16 5.4 Local Resources and Infrastructure..........................................................................................................................16 6 History...........................................................................................................................................................................17 6.1 Ownership History ....................................................................................................................................................17 6.2 Exploration History....................................................................................................................................................17 6.3 Resource History ......................................................................................................................................................19 6.4 Production History ....................................................................................................................................................19 7 Geological Setting .......................................................................................................................................................20 7.1 Regional Setting .......................................................................................................................................................20 7.2 Project Geology ........................................................................................................................................................21 7.2.1 Stratigraphic description ...........................................................................................................................22 7.2.1.1 Upper Unit................................................................................................................................22 7.2.1.2 Middle Unit ...............................................................................................................................23 7.2.1.3 Lower Unit................................................................................................................................23 8 Deposit Types ..............................................................................................................................................................27 8.1 Emplacement of the Bushveld Complex...................................................................................................................27 8.2 Origin of the layering.................................................................................................................................................27 9 Mineralization...............................................................................................................................................................29 9.1 Middle Unit Mineralisation (M3, M2, M1) ..................................................................................................................30 9.2 Lower Unit Mineralization (L3, L2, L1, and LSB) ......................................................................................................31 9.3 Mineralization Model.................................................................................................................................................34 10 Exploration ...................................................................................................................................................................35 10.1 Exploration and Development Strategy ....................................................................................................................35 10.2 Petrography ..............................................................................................................................................................35 10.3 Research ..................................................................................................................................................................35 10.4 Survey.......................................................................................................................................................................36 11 Drilling...........................................................................................................................................................................37 11.1 Diamond Core Drilling ..............................................................................................................................................37 11.2 Drilling Results..........................................................................................................................................................37 11.3 Drilling Orientation ....................................................................................................................................................37 11.4 Drilling Quality...........................................................................................................................................................37 12 Sampling Method and Approach ...............................................................................................................................38 12.1 Soil Sampling............................................................................................................................................................38