Director's Dealing and Issue of Equity

SHANTA GOLD LIMITED
               Director's Dealing and Issue of Equity



Shanta Gold Limited ("the Company")  announces that, on 28 May  2008,
the directors of the Company approved an allotment of ordinary shares
of 0.01p in the share capital of the Company, as set out below:


+-------------------------------------------------------------------+
|   Registered    | Increase in No. of | Total No. of | % of Issued |
|     Holder      |  Ordinary Shares   |   Ordinary   |  Ordinary   |
|                 |                    |    Shares    |   Shares    |
|-----------------+--------------------+--------------+-------------|
| Mr Walton Imrie |       81,333       |  6,117,946   |    6.09%    |
+-------------------------------------------------------------------+


This allotment  is  in terms  of  the Mr  Imrie's  executive  service
contract. The award  is based on  remuneration of $7500  at a  strike
issue price of 0.085p for March and 0.0738p for April.

Following the issue  Mr Imrie  will hold  6,117,946 Ordinary  Shares,
amounting to 6.09% of the Company's total issued share capital.

Application will be made for the new Ordinary Shares issued (the "New
Ordinary Shares")  to be  admitted to  AIM and  dealings in  the  New
Ordinary Shares is expected to commence on 6 June 2008.

The total number of issued ordinary shares in the Company,  including
the New Ordinary Shares, is now 100,397,909 ordinary shares.

2 June 2008



For further information contact:

Walter Vorwerk, Shanta Gold Ltd Tel: [phone]

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