Exercise of Warrants

Shanta Gold Limited
22 February 2007



                              SHANTA GOLD LIMITED

                        ("Shanta Gold" or the "Company")



Shanta confirms that on 20 February 2007 the directors of the Company approved
an allotment of shares following the exercise of warrants over ordinary shares
of 0.01p in the share capital of the Company (the "Warrants") as set out below:


Registered Holder      Number of       Subscription       No. Of shares     Subscription Value
                       Warrants            Price
Detente Limited        17,200               30p           17,200            £5,160.00

Ferlim Nominees        20,000               30p           20,000            £6,000.00
Limtied 


Application will be made for the ordinary shares created pursuant to the
exercise of the Warrants (the "New Ordinary Shares") to be admitted to AIM and
dealings in the New Ordinary Shares is expected to commence on 28 February 2007.


The total number of issued ordinary shares in the Company, including the New
Ordinary Shares, is now 96,787,911 ordinary shares.


For further information contact:

David Youngman, W.H. Ireland Ltd.           Tel:  [phone]

Walter Vorwerk, Shanta Gold Ltd             Tel:  +27 (0)  83 308 0080

  


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