Holding(s) in Company

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

+------------------------------------------------------------+-----------------+
|1. Identity of the issuer or the underlying issuer of       |  Shanta Gold Ltd|
|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                                | X|
+---------------------------------------------------------------------------+--+
|                                                                           |  |
|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   | El Oro Ltd.                      |
|notification obligation:                   |                                  |
|                                           |                                  |
+-------------------------------------------+----------------------------------+
|4. Full name of shareholder(s) (if         | HSBC Global Custody Nominees Ltd.|
|different from 3.):                        |                                  |
|                                           |                                  |
+-------------------------------------------+----------------------------------+
|5. Date of the transaction and date on     |26 February 2010                  |
|which the threshold is crossed or reached: |                                  |
|                                           |                                  |
+-------------------------------------------+----------------------------------+
|6. Date on which issuer notified:          |18 April 2010                     |
|                                           |                                  |
+-------------------------------------------+----------------------------------+
|7. Threshold(s) that is/are crossed or     | Now less than 5%                 |
|reached:                                   |                                  |
|                                           |                                  |
+-------------------------------------------+----------------------------------+


+------------------------------------------------------------------------------+
|8. Notified details:                                                          |
+------------------------------------------------------------------------------+
|A: Voting rights attached to shares                                           |
|                                                                              |
+---------------+----------------+---------------------------------------------+
|Class/type of  |Situation       |Resulting situation after the triggering     |
|shares         |previous        |transaction                                  |
|               |to the          |                                             |
|if possible    |triggering      |                                             |
|using          |transaction     |                                             |
|the ISIN CODE  +------+---------+---------+------------------+----------------+
|               |Number|Number   |Number   |Number of voting  |% of  voting    |
|               |of    |of       |of shares|rights            |rights          |
|               |Shares|Voting   +---------+---------+--------+------+---------+
|               |      |Rights   |Direct   |Direct   |Indirect|Direct|Indirect |
+---------------+------+---------+---------+---------+--------+------+---------+
| SHANTA GOLD   |      |         |         |         |        |      |         |
|LD  ORD 0.01P  |      |5,450,000|5,100,000|5,100,000|        |4.8687|         |
|               |      |         |         |         |        |      |         |
| GB00B0CGR828  |      |         |         |         |        |      |         |
+---------------+------+---------+---------+---------+--------+------+---------+

+-------------------------------------------------------------------------+
|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 |
+-------------------------+-----------------------------+
|  5,100,000              | 4.8687%                     |
+-------------------------+-----------------------------+

+------------------------------------------------------------------------------+
|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:  | For and on behalf of Capita Financial          |
|                             |Administrators (Guernsey) Limited               |
+-----------------------------+------------------------------------------------+
|14. Contact name:            | Mr. Julian Lane                                |
|                             |                                                |
+-----------------------------+------------------------------------------------+
|15. Contact telephone number:| [phone]                            |
|                             |                                                |
+-----------------------------+------------------------------------------------+



[HUG#1405313]