Directors' Shareholdings & Issue of Equity

Shanta Gold Limited
                        ('Shanta Gold' or 'the Company')

                  Directors' Shareholdings and Issue of Equity

Shanta Gold announces that application has been made for a total of 277,975 new
ordinary shares of 0.01p each in the Company to be admitted to trading on the
AIM market of the London Stock Exchange.

Further to the announcement on 30 June 2009 (providing for certain Directors to
accept shares in the Company in lieu of salary), 107,184 new ordinary shares
were allotted to certain Directors of the Company on 19 July 2010 in lieu of
salaries for the month of June 2010 in relation to Mr Walton Imrie, Mr Walter
Vorwerk and Mr David Scott.

Shares have been allotted to certain Directors as follows:

+--------------+-------------+-----------+-----------------+-----------+
|Director      |Shares Issued|Share Price|Resultant Holding|Resultant %|
+--------------+-------------+-----------+-----------------+-----------+
|Walton Imrie  |29,921       |16.75p     |9,074,083        |7.13       |
+--------------+-------------+-----------+-----------------+-----------+
|Walter Vorwerk|28,393       |16.75p     |600,430          |0.47       |
+--------------+-------------+-----------+-----------------+-----------+
|David Scott   |48,870       |16.75p     |524,003          |0.41       |
+--------------+-------------+-----------+-----------------+-----------+

In addition, further to the announcement made by the Company on 20 May 2010
(regarding Mr. Gareth Taylor's appointment as an Executive Director of the
Company), Mr. Gareth Taylor has today been issued with 159,274 new ordinary
shares in the Company in lieu of salary in the sum of US$180,000 per annum which
is to be settled entirely in shares in the Company on a monthly basis. The first
payment is in arrears covering the period from 1 March 2010 to 30 June 2010. Mr
Taylor operated as a consultant to the Company from 1 March 2010 until he was
appointed on to the board.

Shares have been allotted to Mr. Taylor as follows:

+--------+---------------+-------------+
| Period | Shares Issued | Share Price |
+--------+---------------+-------------+
| March  | 46,461        | 21.25p      |
+--------+---------------+-------------+
| April  | 43,142        | 22.75p      |
+--------+---------------+-------------+
| May    | 49,755        | 20.75p      |
+--------+---------------+-------------+
| June   | 19,916        | 16.75p      |
+--------+---------------+-------------+

Following the allotment of the above ordinary shares Mr. Gareth Taylor will hold
a total of 190,274 shares in the Company representing 0.15% of the issued share
capital.

Further to the issue of new ordinary shares to certain Directors of the Company
as set out above, the Company has also issued 11,517 new ordinary shares at
16.75p to an employee of the Company in lieu of salary for the month of June
2010.

All of the new ordinary shares issued by the Company, as described above, were
issued at the closing mid-market price on the last business day of the calendar
month and converted at the exchange rate ruling at the close of business on that
date.

The new ordinary shares will rank pari passu with existing ordinary shares and
dealings are expected to commence in the new ordinary shares on 23 July 2010.

Following the issue of the new ordinary shares as described above, the Company's
issued share capital now consists of 127,321,260 ordinary shares of 0.01p each.

For further information, please contact:


 Shanta Gold Limited
 Walter Vorwerk        Tel: [phone]



 Fairfax I.S. PLC
 Ewan Leggat / Laura Littley   Tel: [phone]








[HUG#1432598]








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Source: Shanta Gold Limited via Thomson Reuters ONE