Exercise of Warrants and Issue of Equity

Shanta Gold Limited

                        ("Shanta Gold" or the "Company")

                    Exercise of Warrants and Issue of Equity

                                19 December 2011


Further  to the announcement of 6 July 2010, which details the issue of warrants
to certain parties in connection with financing of the feasibility study, Shanta
Gold  announces that 1,699,346 new Ordinary Shares of 0.01p each have today been
allotted  and issued pursuant to the exercise  of the same number of warrants at
the exercise price of 10p. The exercise of warrants has resulted in a remittance
of funds to the Company of a total of GBP169,934.60.

Application has been made to the London Stock Exchange for a total of 1,699,346
new Ordinary Shares of 0.01p each in the Company to be admitted to trading on
AIM. Admission of the 1,699,346 new Ordinary Shares to trading is expected to
become effective on 23 December 2011.

Following  the issue of the 1,699,346 new Ordinary Shares as detailed above, the
Company's  issued share capital  will consist of  271,560,546 ordinary shares of
0.01p. The  total  number  of  voting  shares  in  issue  immediately  following
Admission will be 271,560,546. The Company holds no ordinary shares in treasury.

Contacts:

Shanta Gold Limited
Walton Imrie   Tel: +27 (0) 82 444 2851
Gareth Taylor   Tel: [phone] 732 484

Nominated Adviser and Broker
Fairfax I.S. PLC
Tel: [phone]
Ewan Leggat / Laura Littley

Financial Relations
Tavistock Communications
Tel: [phone]
Emily Fenton/Ed Portman








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Source: Shanta Gold Limited via Thomson Reuters ONE

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