Final Results

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


                                 Final Results

The Board of Shanta is pleased to announce its audited results for the year
ended 31 December 2010.

Chairman's Address to Shareholders

It gives me great pleasure to share with our investors the encouraging
developments for the company over the past year - culminating in a change of
status from junior gold explorer to becoming an emerging producer.

This has been a mammoth achievement for the board and management, and is
manifested in the mining licence obtained for the Chunya project, announced on
1 September 2010. This project, now known as the New Luika gold mine, is likely
to be commissioned in the fourth quarter of the 2011 financial year.

During September shareholders were advised that the company had entered into an
option to joint venture the Saza Village tailings dump. Situated some 7kms from
the New Luika gold mine, this material should be capable of being fed
economically into the plant, adding further value to Shanta's operations in the
Luika goldfield.

Critical to this emergence into producer status was the appointment last year of
Mr Gareth Taylor as chief operating officer (COO). Gareth's past experience in
Tanzania particularly, and in the commissioning of new mines will be of great
benefit to the company as we move further up the value creation curve for our
shareholders. The appointment of Paul Heber as an independent non-executive
director during November 2010 brings further strength to our board.

While our efforts are concentrated on bringing the New Luika gold mine into
production as expeditiously as possible, our teams on the ground have not let up
at our other projects. At Singida we have had encouraging geological results
while we have also completed a pre-feasibility study, which have led us into a
full feasibility study and an application for a mining licence. This will give
us a clear indication as to the viability of the approval of a second mine,
which will then move the company into mid-tier gold producer status.

Consultations with the local community and Ministry of Mines in relation to our
Mgusu project are ongoing. Whilst artisanal mining on our property continues, it
is hoped that a mutually agreeable solution will be found during the coming
year.

Two successful capital raising exercises over the past year, one in May - a
share placement which raised a total of GBP2 million at 0.20p per share - and
another in September - a placement of 51 132 227 shares at 25p raised a total of
GBP12.78 million - have put us in a very advantageous position, with the
necessary funds in place to meet ongoing exploration and mine construction
costs.

This has undoubtedly been a year of achievements, and we are beginning to see
the realization of some of the plans we have put in place over the past number
of years. None of this would have been possible without the vision of this
board, the execution by management and the co-operative attitude of our staff
and teams in the field. These developments, in concert, are beginning to
manifest in the company's stock price, as the market begins to rerate the Shanta
share. This, however, is not the end of the road - we have a lot more work ahead
of us. With your continued support I look forward to further success in 2011.


Walton Imrie
Chairman



Financial Results
These are not the group's consolidated financial statements, however, all
figures are based on the audited consolidated financial statements.

Statements of comprehensive income

-------------------------------+-----------------------+-----------------------+
                               |         GROUP         |        COMPANY        |
-------------------------------+-----------+-----------+-----------+-----------+
                               |31 December|31 December|31 December|31 December|
-------------------------------+-----------+-----------+-----------+-----------+
                               |       2010|       2009|       2010|       2009|
-------------------------------+-----------+-----------+-----------+-----------+
                               |           | (restated)|           |           |
-------------------------------+-----------+-----------+-----------+-----------+
                               |   US$' 000|   US$' 000|   US$' 000|   US$' 000|
-------------------------------+-----------+-----------+-----------+-----------+
Revenue                        |          -|          -|          -|          -|
-------------------------------+-----------+-----------+-----------+-----------+
Cost of sales                  |          -|          -|          -|          -|
-------------------------------+-----------+-----------+-----------+-----------+
Gross profit                   |          -|          -|          -|          -|
-------------------------------+-----------+-----------+-----------+-----------+
Other operating income         |          -|          -|          -|          -|
-------------------------------+-----------+-----------+-----------+-----------+
Administration expenses        |    (2 692)|    (1 676)|    (1 881)|      (974)|
-------------------------------+-----------+-----------+-----------+-----------+
Exploration and evaluation     |           |           |           |           |
costs                          |    (5 092)|    (2 703)|          -|          -|
-------------------------------+-----------+-----------+-----------+-----------+
Operating loss                 |    (7 784)|    (4 379)|    (1 881)|      (974)|
-------------------------------+-----------+-----------+-----------+-----------+
Finance income                 |         15|          9|         15|          9|
-------------------------------+-----------+-----------+-----------+-----------+
Loss before taxation           |    (7 769)|    (4 370)|    (1 866)|      (965)|
-------------------------------+-----------+-----------+-----------+-----------+
Taxation                       |          -|          -|           |           |
-------------------------------+-----------+-----------+-----------+-----------+
Loss for the year              |    (7 769)|    (4 370)|    (1 866)|      (965)|
-------------------------------+-----------+-----------+-----------+-----------+
Other comprehensive income for |           |           |           |           |
the year                       |          -|          -|          -|          -|
-------------------------------+-----------+-----------+-----------+-----------+
Total comprehensive loss for   |           |           |           |           |
the year                       |    (7 769)|    (4 370)|    (1 866)|      (965)|
-------------------------------+-----------+-----------+-----------+-----------+
Earnings per share             |           |           |           |           |
-------------------------------+-----------+-----------+-----------+-----------+
Basic loss per share (US cents)|     (5.95)|     (4.29)|           |           |
-------------------------------+-----------+-----------+-----------+-----------+


Statements of financial position

+-------------------+----------------------------------+-----------------------+
|                   |              GROUP               |        COMPANY        |
+-------------------+-----------+-----------+----------+-----------+-----------+
|                   |31 December|31 December| 1 January|31 December|31 December|
+-------------------+-----------+-----------+----------+-----------+-----------+
|                   |       2010|       2009|      2009|       2010|       2009|
+-------------------+-----------+-----------+----------+-----------+-----------+
|                   |   US$' 000|   US$' 000|  US$' 000|   US$' 000|   US$' 000|
+-------------------+-----------+-----------+----------+-----------+-----------+
|                   |           | (restated)|(restated)|           |           |
+-------------------+-----------+-----------+----------+-----------+-----------+
|Assets             |           |           |          |           |           |
+-------------------+-----------+-----------+----------+-----------+-----------+
|Non-current assets |           |           |          |           |           |
+-------------------+-----------+-----------+----------+-----------+-----------+
|Intangible assets  |      4 376|      4 442|     4 680|          -|          -|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Plant and equipment|        221|        252|       305|          -|          -|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Investment in      |           |           |          |           |           |
|subsidiary         |           |           |          |           |           |
|companies          |          -|          -|         -|          -|          -|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Loans receivable   |           |           |          |           |           |
|from subsidiary    |           |           |          |           |           |
|companies          |          -|          -|         -|     33 723|     27 324|
+-------------------+-----------+-----------+----------+-----------+-----------+
|                   |      4 597|      4 694|     4 985|     33 723|     27 324|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Current assets     |           |           |          |           |           |
+-------------------+-----------+-----------+----------+-----------+-----------+
|Trade and other    |           |           |          |           |           |
|receivables        |      2 950|        428|       174|      2 412|        177|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Cash and cash      |           |           |          |           |           |
|equivalents        |     17 050|      2 608|     6 404|     16 898|      2 530|
+-------------------+-----------+-----------+----------+-----------+-----------+
|                   |     20 000|      3 036|     6 578|     19 310|      2 707|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Total assets       |     24 597|      7 730|    11 563|     53 033|     30 031|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Equity and         |           |           |          |           |           |
|liabilities        |           |           |          |           |           |
+-------------------+-----------+-----------+----------+-----------+-----------+
|Equity             |           |           |          |           |           |
+-------------------+-----------+-----------+----------+-----------+-----------+
|Share capital      |         30|         19|        18|         30|         19|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Share premium      |     55 936|     31 976|    31 779|     55 936|     31 976|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Share option       |           |           |          |           |           |
|reserve            |      1 088|        678|     1 337|      1 088|        678|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Shares to be issued|           |           |          |           |           |
|reserve            |         92|         86|         8|         92|         86|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Warrant Reserve    |        336|          -|         -|        336|          -|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Translation reserve|        400|        400|       400|          -|          -|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Retained losses    |   (34 023)|   (26 254)|  (22 639)|    (5 013)|    (3 147)|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Total equity       |     23 859|      6 905|    10 903|     52 469|     29 612|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Current liabilities|           |           |          |           |           |
+-------------------+-----------+-----------+----------+-----------+-----------+
|Trade and other    |           |           |          |           |           |
|payables and       |           |           |          |           |           |
|accruals           |        402|        489|       324|        228|         83|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Loans payable to   |           |           |          |           |           |
|related parties    |        336|        336|       336|        336|        336|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Total liabilities  |        738|        825|       660|        564|        419|
+-------------------+-----------+-----------+----------+-----------+-----------+
|Total equity and   |           |           |          |           |           |
|liabilities        |     24 597|      7 730|    11 563|     53 033|     30 031|
+-------------------+-----------+-----------+----------+-----------+-----------+


Statements of changes in equity

+--------------------------------------------------------------------------------+
|                                     GROUP                                      |
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|             |       |       |  Share|       |           |Shares|        |      |
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|             |  Share|  Share| option|Warrant|Translation| to be|Retained| Total|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|             |capital|premium|reserve|reserve|    reserve|issued|earnings|equity|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|             |   US$'|   US$'|   US$'|   US$'|           |  US$'|        |  US$'|
|             |    000|    000|    000|    000|   US$' 000|   000|US$' 000|   000|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Total equity |       |       |       |       |           |      |        |      |
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|31 December  |       |       |       |       |           |      |        |      |
|2008         |       |       |       |       |           |      |        |      |
|(restated)   |     18| 31 779|  1 337|      -|        400|     8|(22 639)|10 903|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Total        |       |       |       |       |           |      |        |      |
|comprehensive|       |       |       |       |           |      |        |      |
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|loss for the |       |       |       |       |           |      |        |    (4|
|year         |       |       |       |       |           |      | (4 370)|  370)|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Share based  |       |       |       |       |           |      |        |      |
|payments     |      1|    197|       |       |           |   (8)|        |   190|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Shares to be |       |       |       |       |           |      |        |      |
|issued       |       |       |       |       |           |    86|        |    86|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Share option |       |       |       |       |           |      |        |      |
|costs        |       |       |     96|       |           |      |        |    96|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Share options|       |       |       |       |           |      |        |      |
|expired      |       |       |  (755)|       |           |      |     755|     -|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Total equity |       |       |       |       |           |      |        |      |
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|31 December  |       |       |       |       |           |      |        |      |
|2009         |       |       |       |       |           |      |        |      |
|(restated)   |     19| 31 976|    678|      -|        400|    86|(26 254)| 6 905|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Total        |       |       |       |       |           |      |        |      |
|comprehensive|       |       |       |       |           |      |        |      |
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|loss for the |       |       |       |       |           |      |        |    (7|
|year         |       |       |       |       |           |      | (7 769)|  769)|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Share based  |       |       |       |       |           |      |        |      |
|payments     |      1| 1  743|       |       |           |  (86)|        | 1 658|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Shares issued|       |       |       |       |           |      |        |      |
|for cash     |     10| 23 637|       |       |           |      |        |23 647|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Share issue  |       |       |       |       |           |      |        |    (1|
|costs        |       |(1 084)|       |       |           |      |        |  084)|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Shares to be |       |       |       |       |           |      |        |      |
|issued       |       |       |       |       |           |    92|        |    92|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Share option |       |       |       |       |           |      |        |      |
|costs        |       |       |    410|       |           |      |        |   410|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Warrants     |       |       |       |       |           |      |        |      |
|issued       |       |  (336)|       |    336|           |      |        |     -|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Total equity |       |       |       |       |           |      |        |      |
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|31 December  |       |       |       |       |           |      |        |      |
|2010         |     30|55  936|  1 088|    336|        400|    92|(34 023)|23 859|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|                                    COMPANY                                     |
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Total equity |       |       |       |       |           |      |        |      |
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|31 December  |       |       |       |       |           |      |        |      |
|2008         |     18| 31 779|  1 337|      -|          -|     8| (2 937)|30 205|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Total        |       |       |       |       |           |      |        |      |
|comprehensive|       |       |       |       |           |      |        |      |
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|loss for the |       |       |       |       |           |      |        |      |
|year         |       |       |       |       |           |      |   (965)| (965)|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Share based  |       |       |       |       |           |      |        |      |
|payments     |      1|    197|       |       |           |   (8)|        |   190|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Shares to be |       |       |       |       |           |      |        |      |
|issued       |       |       |       |       |           |    86|        |    86|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Share option |       |       |       |       |           |      |        |      |
|costs        |       |       |     96|       |           |      |        |    96|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Share options|       |       |       |       |           |      |        |      |
|expired      |       |       |  (755)|       |           |      |     755|     -|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Total equity |       |       |       |       |           |      |        |      |
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|31 December  |       |       |       |       |           |      |        |      |
|2009         |     19| 31 976|    678|      -|          -|    86| (3 147)|29 612|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Total        |       |       |       |       |           |      |        |      |
|comprehensive|       |       |       |       |           |      |        |      |
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|loss for the |       |       |       |       |           |      |        |    (1|
|year         |       |       |       |       |           |      | (1 866)|  866)|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Share based  |       |       |       |       |           |      |        |      |
|payments     |      1| 1  743|       |       |           |  (86)|        | 1 658|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Shares issued|       |       |       |       |           |      |        |      |
|for cash     |     10| 23 637|       |       |           |      |        |23 647|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Share issue  |       |       |       |       |           |      |        |    (1|
|costs        |       |(1 084)|       |       |           |      |        |  084)|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Shares to be |       |       |       |       |           |      |        |      |
|issued       |       |       |       |       |           |    92|        |    92|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Share option |       |       |       |       |           |      |        |      |
|costs        |       |       |    410|       |           |      |        |   410|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Warrants     |       |       |       |       |           |      |        |      |
|issued       |       |  (336)|       |    336|           |      |        |     -|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|Total equity |       |       |       |       |           |      |        |      |
+-------------+-------+-------+-------+-------+-----------+------+--------+------+
|31 December  |       |       |       |       |           |      |        |      |
|2010         |     30| 55 936|  1 088|    336|          -|    92| (5 013)|52 469|
+-------------+-------+-------+-------+-------+-----------+------+--------+------+


Statements of cash flows

+--------------------------+-----------------------+---------------------------+
|                          |         GROUP         |          COMPANY          |
+--------------------------+-----------+-----------+---------------+-----------+
|                          |31 December|31 December|    31 December|31 December|
+--------------------------+-----------+-----------+---------------+-----------+
|                          |       2010|       2009|           2010|       2009|
+--------------------------+-----------+-----------+---------------+-----------+
|                              US$' 000|   US$' 000|       US$' 000|   US$' 000|
+--------------------------+-----------+-----------+---------------+-----------+
|                          |           |           |               |           |
|                          |           |           |      134      |           |
|Net cash flows from       |           |           |               |           |
|operating activities      |    (5 761)|    (3 662)|               |      (841)|
+--------------------------+-----------+-----------+---------------+-----------+
|Investing activities      |           |           |               |           |
+--------------------------+-----------+-----------+---------------+-----------+
|Cash flow attributable to |           |           |               |           |
|the exploration           |           |           |               |           |
+--------------------------+-----------+-----------+---------------+-----------+
|for and evaluation of     |           |           |               |           |
|mineral resources:        |           |           |               |           |
+--------------------------+-----------+-----------+---------------+-----------+
|- Purchase of intangible  |           |           |               |           |
|assets                    |       (57)|       (66)|              -|          -|
+--------------------------+-----------+-----------+---------------+-----------+
|  - Purchase of plant and |           |           |               |           |
|equipment                 |      (111)|       (92)|              -|          -|
+--------------------------+-----------+-----------+---------------+-----------+
|  - Ball mill deposit     |    (2 192)|           |        (2 192)|           |
+--------------------------+-----------+-----------+---------------+-----------+
|Cash advanced to group    |           |           |               |           |
|companies                 |          -|          -|        (6 137)|    (2 922)|
+--------------------------+-----------+-----------+---------------+-----------+
|Net cash flows from       |           |           |               |           |
|investing activities      |    (2 360)|      (158)|        (8 329)|    (2 922)|
+--------------------------+-----------+-----------+---------------+-----------+
|Financing activities      |           |           |               |           |
+--------------------------+-----------+-----------+---------------+-----------+
|Proceeds from issue of    |           |           |               |           |
|ordinary share capital    |     22 563|          -|         22 563|          -|
+--------------------------+-----------+-----------+---------------+-----------+
|Loans repaid              |          -|          -|              -|          -|
+--------------------------+-----------+-----------+---------------+-----------+
|Net cash flows from       |           |           |               |           |
|financing activities      |          -|          -|              -|          -|
+--------------------------+-----------+-----------+---------------+-----------+
|Net increase/(decrease) in|           |           |               |           |
|cash and cash equivalents |     14 442|    (3 820)|         14 368|    (3 763)|
+--------------------------+-----------+-----------+---------------+-----------+
|Cash and cash equivalents |           |           |               |           |
|at beginning of year      |      2 608|      6 404|          2 530|      6 269|
+--------------------------+-----------+-----------+---------------+-----------+
|Foreign exchange          |           |           |               |           |
|adjustment                |          -|         24|              -|         24|
+--------------------------+-----------+-----------+---------------+-----------+
|Cash and cash equivalents |           |           |               |           |
|at end of year            |     17 050|      2 608|         16 898|      2 530|
+--------------------------+-----------+-----------+---------------+-----------+


Notes to the financial statements

1. Basis of preparation

The financial statements have been prepared in accordance with International
Financial Reporting Standards (IFRS) which comprise standards and
interpretations by the International Accounting Standards Board (IASB) and
International Accounting Standards and Standing Interpretations approved by the
International Accounting Standards Committee (IASC) that remain in effect, and
to the extent that they have been adopted by the European Union.

2. Earnings per share

+-+----------------------------------------------------+-----------------------+
| |                                                    |                  GROUP|
+-+----------------------------------------------------+-----------+-----------+
| |                                                    |31 December|31 December|
+-+----------------------------------------------------+-----------+-----------+
| |                                                    |       2010|       2009|
+-+----------------------------------------------------+-----------+-----------+
| |                                                    |   US$' 000|   US$' 000|
+-+----------------------------------------------------+-----------+-----------+
| |                                                    |           | (restated)|
+-+----------------------------------------------------+-----------+-----------+
| |                                                    |           |           |
+-+----------------------------------------------------+-----------+-----------+
| |The earnings and weighted average number of ordinary|           |           |
| |shares used in the                                  |           |           |
+-+----------------------------------------------------+-----------+-----------+
| |calculation of basic loss per share is as follows:  |           |           |
+-+----------------------------------------------------+-----------+-----------+
| |Loss for the year attributable to equity holders of |           |           |
| |the company                                         |    (7 769)|    (4 370)|
+-+----------------------------------------------------+-----------+-----------+
| |Earnings used in the calculation of basic loss per  |           |           |
| |share                                               |    (7 769)|    (4 370)|
+-+----------------------------------------------------+-----------+-----------+
| |as presented below:                                 |           |           |
+-+----------------------------------------------------+-----------+-----------+
| |Basic loss per share (US cents)                     |     (6.14)|     (4.29)|
+-+----------------------------------------------------+-----------+-----------+
| |Weighted average number of shares in issue          |126 579 240|101 791 926|
+-+----------------------------------------------------+-----------+-----------+

As at balance sheet date, the company has US$91 968 (2009: US$85 800) worth of
share reserved in the Shares to be issued reserve, see note 20 of the 2010
annual report for further details.

Post year end 847 200 shares have been issued at 33.961p each as a performance
bonus to certain geological employees of the company and its geological
consultants.

IAS 33 "Earnings per share" defines dilution as a reduction in earnings per
share or as an increase in loss per share. When calculating the dilutive
earnings per share the loss is decreased. Accordingly dilutive loss per share is
not disclosed.

+----------------------------------------------------------+---------+---------+
|                                                          |   Number|   Number|
+----------------------------------------------------------+---------+---------+
|The group has the following instruments which could       |         |         |
|potentially dilute                                        |         |         |
+----------------------------------------------------------+---------+---------+
|basic earnings per share in the future                    |         |         |
+----------------------------------------------------------+---------+---------+
|Share options                                             |6 934 064|4 154 064|
+----------------------------------------------------------+---------+---------+
|Warrants                                                  |5 770 016|        -|
+----------------------------------------------------------+---------+---------+

As disclosed in note 17 of the 2010 annual report, the company has entered into
a SEDA agreement, in terms of which the company raises funds by the issue of
shares. The SEDA agreement could potentially dilute basic earnings per share in
the future.

3. Related party transactions

Balances and transactions between the company and its subsidiaries have been
disclosed in note 12 of the 2010 annual report.

Details of the directors' remuneration, share options and other key management
personnel are contained within note 6 of the 2010 annual report and the
Directors report.

Details of directors' share based payment, and nomad & brokers share based
payments are disclosed in note 24 of the 2010 annual report.

The loans from related parties are from companies in which K Patel, M Patel and
W Imrie have an indirect interest (note 15 of the 2010 annual report).

Payment US$ 60 000 (2009: US$ 60 000) for consulting services has been made to a
company in which K Patel (Director) and Mr. Patel (alternate director) have an
indirect interest.

W Imrie is a director of Rameron Consulting which is considered to be a related
party as a result of the common directorship. During the year a total amount of
US$48 000 was paid to Rameron Consulting which was in relation to W Imrie's
duties as an executive chairman of the company.


Annual Report

Copies of the annual financial statements (including the notice of annual
general meeting) were posted to shareholders on 30 June 2011 and are available
on the Company's website.


Annual General Meeting

The Company's Annual General Meeting will be held at the Company's registered
office, Suite A, St Peter Port House, Sausmarez Street, St Peter Port, Guernsey
on 7 September 2011 at 10.00am.



For further information:

Shanta Gold Limited

http://www.shantagold.com

Walton Imrie
Mobile: [phone]

Walter Vorwerk
Mobile: [phone]

Gareth Taylor
Mobile: [phone]

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

Tavistock Communications
Emily Fenton/Ed Portman
[phone]








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Source: Shanta Gold Limited via Thomson Reuters ONE

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