Holding in Company

+------------------------------------------------+
| TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES |
+------------------------------------------------+

+--------------------------------------------------------+---------------------+
|1. Identity of the issuer or the underlying issuer of   |  Shanta Gold Limited|
|existing shares to which voting rights are attached:    |                     |
+--------------------------------------------------------+---------------------+

+------------------------------------------------------------------------------+
|2 Reason for the notification (please tick the appropriate box or boxes):     |
+--------------------------------------------------------------------------+---+
|                                                                          |   |
|An acquisition or disposal of voting rights                               |Yes|
+--------------------------------------------------------------------------+---+
|                                                                          |   |
|An acquisition or disposal of qualifying financial instruments which may  |   |
|result in the acquisition of shares already issued to which voting rights |   |
|are attached                                                              |   |
+--------------------------------------------------------------------------+---+
|                                                                          |   |
|An acquisition or disposal of instruments with similar economic effect to |   |
|qualifying financial instruments                                          |   |
+--------------------------------------------------------------------------+---+
|                                                                          |   |
|An event changing the breakdown of voting rights                          |   |
+-----------------------+--------------------------------------------------+---+
|                       |                                                  |   |
|Other (please specify):|                                                  |   |
+-----------------------+--------------------------------------------------+---+

+-----------------------------------------------+-----------------------------------+
|3. Full name of person(s) subject to the       | Jali Investments Limited          |
|notification obligation:                       |                                   |
|                                               |                                   |
+-----------------------------------------------+-----------------------------------+
|4. Full name of shareholder(s) (if different   | Secure Nominees Limited           |
|from 3.):                                      |                                   |
|                                               |                                   |
+-----------------------------------------------+-----------------------------------+
|5. Date of the transaction and date on which   | 23 May 2011                       |
|the threshold is crossed or reached:           |                                   |
|                                               |                                   |
+-----------------------------------------------+-----------------------------------+
|6. Date on which issuer notified:              | 19 July 2011                      |
|                                               |                                   |
+-----------------------------------------------+-----------------------------------+
|7. Threshold(s) that is/are crossed or reached:| 4%                                |
|                                               |                                   |
+-----------------------------------------------+-----------------------------------+
|                                                                                   |
|8. Notified details:                                                               |
+-----------------------------------------------------------------------------------+
|A: Voting rights attached to shares                                                |
|                                                                                   |
+-------------+--------------------+------------------------------------------------+
|Class/type of|Situation previous  |Resulting situation after the triggering        |
|shares       |to the triggering   |transaction                                     |
|             |transaction         |                                                |
|if possible  +----------+---------+-----------+--------------------+---------------+
|using        |Number    |Number   |Number     |Number of voting    |% of  voting   |
|the ISIN CODE|of        |of       |of shares  |rights              |rights         |
|             |Shares    |Voting   +-----------+-----------+--------+------+--------+
|             |          |Rights   |Direct     |Direct     |Indirect|Direct|Indirect|
+-------------+----------+---------+-----------+-----------+--------+------+--------+
| GB00BOCGR828|          |         |           |           |        |      |        |
|             | 4,375,000|4,375,000| 11,480,556| 11,480,556|        | 4.34%|        |
+-------------+          |         |           |           |        |      |        |
|             |          |         |           |           |        |      |        |
+-------------+----------+---------+-----------+-----------+--------+------+--------+

+-------------------------------------------------------------------------+
|B: Qualifying Financial Instruments                                      |
+-------------------------------------------------------------------------+
|Resulting situation after the triggering transaction                     |
|                                                                         |
+-----------------+----------+----------+---------------------+-----------+
|Type of financial|Expiration|Exercise/ |Number of voting     |% of voting|
|instrument       |date      |Conversion|rights that may be   |rights     |
|                 |          |Period    |acquired if the      |           |
|                 |          |          |instrument is        |           |
|                 |          |          |exercised/ converted.|           |
|                 |          |          |                     |           |
+-----------------+----------+----------+---------------------+-----------+
|                 |          |          |                     |           |
+-----------------+----------+----------+---------------------+-----------+

+------------------------------------------------------------------------------+
|C: Financial Instruments with similar economic effect to Qualifying Financial |
|Instruments                                                                   |
+------------------------------------------------------------------------------+
|Resulting situation after the triggering transaction                          |
|                                                                              |
+---------------+--------+----------+----------+--------------+----------------+
|Type of        |Exercise|Expiration|Exercise/ |Number of     |% of voting     |
|financial      |price   |date      |Conversion|voting        |rights          |
|instrument     |        |          |period    |rights        |                |
|               |        |          |          |instrument    |                |
|               |        |          |          |refers to     |                |
+---------------+--------+----------+----------+--------------+-------+--------+
|               |        |          |          |              |Nominal| Delta  |
|               |        |          |          |              |       |        |
|               |        |          |          |              +-------+--------+
|               |        |          |          |              |       |        |
+---------------+--------+----------+----------+--------------+-------+--------+

+-------------------------------------------------------+
| Total (A+B+C)                                         |
|                                                       |
+-------------------------+-----------------------------+
| Number of voting rights | Percentage of voting rights |
+-------------------------+-----------------------------+
|  11,480,556             |  4.34%                      |
+-------------------------+-----------------------------+

+------------------------------------------------------------------------------+
|9. Chain of controlled undertakings through which the voting rights and/or the|
|financial instruments are effectively held, if applicable:                    |
+------------------------------------------------------------------------------+
|                                                                              |
|                                                                              |
+------------------------------------------------------------------------------+

+----------------------------------------------------------------------+
| Proxy Voting:                                                        |
|                                                                      |
+------------------------------------------------------------------+---+
| 10. Name of the proxy holder:                                    |   |
|                                                                  |   |
+------------------------------------------------------------------+---+
| 11. Number of voting rights proxy holder will cease to hold:     |   |
|                                                                  |   |
+------------------------------------------------------------------+---+
| 12. Date on which proxy holder will cease to hold voting rights: |   |
|                                                                  |   |
+------------------------------------------------------------------+---+

+-------------------------------+------------------+
| 13. Additional information:   |                  |
|                               |                  |
+-------------------------------+------------------+
| 14. Contact name:             |  Robert Sercouf  |
|                               |                  |
+-------------------------------+------------------+
| 15. Contact telephone number: |  [phone] |
|                               |                  |
+-------------------------------+------------------+







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(i) the releases contained herein are protected by copyright and 
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(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: Shanta Gold Limited via Thomson Reuters ONE

[HUG#1532214]