From end of January and between February 25 to March 2, 2008, through the marketing and sales efforts of Pan Asian Oasis Inc., the Canada listed Caledonia Mining Corporation (www.caledoniamining.com) has signed separately with three large and one medium-size cobalt refineries on the supply of totaling 10,000 metric tons (metal content) of cobalt hydroxide having a market value of US$ 1 billion each year at current cobalt price. The Agreements are valid for a period ranging from five to six years, renewable at expiry.

        Caledonia Mining Corporation and Pan Asian Oasis Inc. have been long term strategic partners.  Before Caledonia’s executive visited China, Pan Asian Oasis Inc., having a clear understanding of the condition and future development of large-to-medium cobalt refineries in China, has communicated, built relationship, and maintained exchange of information with these enterprises.

        During the recent visit of Mr. Stefan Hayden, CEO of Caledonia, Pan Asian Oasis Inc. arranged negotiations, signed long term off-take Agreements with the two largest cobalt refineries, and a medium cobalt refinery from southern China.  Together with the Agreement for a 3000 mt. metal cobalt content signed earlier in January, the supply contract of an annual target supply of 10,000 mt. metal cobalt content has been achieved.

        Pan Asian Oasis Inc. is the sole sales agent of Caledonia Mining Corporation, not only in mainland China, but is also in Taiwan.