Holdings 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 |Blakeney LLP                        |
|notification obligation:                 |                                    |
|                                         |                                    |
+-----------------------------------------+------------------------------------+
|4. Full name of shareholder(s) (if       |Blakeney LLP as investment advisor  |
|different from 3.):                      |manager of the funds listed in      |
|                                         |Appendix 1.                         |
+-----------------------------------------+------------------------------------+
|5. Date of the transaction and date on   |4 October 2010                      |
|which the threshold is crossed or        |                                    |
|reached:                                 |                                    |
|                                         |                                    |
+-----------------------------------------+------------------------------------+
|6. Date on which issuer notified:        |14 October 2010                     |
|                                         |                                    |
+-----------------------------------------+------------------------------------+
|7. Threshold(s) that is/are crossed or   |10%                                 |
|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  |
+---------------+------+--------+----------+------+----------+------+----------+
| GB00B0CGR828  |      |        |          |      |          |      |          |
+---------------+ 0    |0       |25,570,000|0     |25,570,000|0     |14.3%     |
|               |      |        |          |      |          |      |          |
+---------------+------+--------+----------+------+----------+------+----------+

+-------------------------------------------------------------------------+
|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 |
+-------------------------+-----------------------------+
|  25,570,000             |  14.3%                      |
+-------------------------+-----------------------------+

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

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

+-------------------------------+------------------+
| 13. Additional information:   |  N/a             |
|                               |                  |
+-------------------------------+------------------+
| 14. Contact name:             |  Michael Mumford |
|                               |                  |
+-------------------------------+------------------+
| 15. Contact telephone number: |  020 7352 4117   |
|                               |                  |
+-------------------------------+------------------+






+---------+-----------+---------+---------+-------+---------+---------+---------+---------+--------+----------+
|Blakeney |CC         |Blakeney |         |Ithaca |Austin   |Heviben  |Palo Alto|Menafrika|Blakeney|          |
|Investors|Development|LP       |ONYX LP  |LP     |Alpha LP |LP       |LP       |LP       |Sand    |Total     |
|Sicav    |Partners LP|         |         |       |         |         |         |         |Hill LP |          |
+---------+-----------+---------+---------+-------+---------+---------+---------+---------+--------+----------+
|         |           |         |         |       |         |         |         |         |        |          |
|4,892,000|889,000    |7,417,000|1,957,000|450,000|3,274,000|3,786,000|1,615,000|829,000  |461,000 |25,570,000|
+---------+-----------+---------+---------+-------+---------+---------+---------+---------+--------+----------+
|2.74%    |0.50%      |4.15%    |1.09%    |0.25%  |1.83%    |2.12%    |0.90%    |0.46%    |0.26%   |14.30%    |
+---------+-----------+---------+---------+-------+---------+---------+---------+---------+--------+----------+


[HUG#1452007]








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Source: Shanta Gold Limited via Thomson Reuters ONE