Issue of Equity

Shanta Gold Limited
22 August 2006


For immediate release
                                                                  22 August 2006


                              SHANTA GOLD LIMITED


Shanta Gold Limited ("Shanta Gold" or the "Company") confirms that on 21 August
2006 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      Exercise 
                             Warrants          Price                           Price

JP Morgan Chase                20,000            30p            20,000     £6,000.00
Nutraco Nominees Limited    1,280,000            30p         1,280,000   £384,000.00


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 29 August 2006.

The total number of issued ordinary shares in the Company, including the New
Ordinary Shares, is now 91,108,772 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


                      This information is provided by RNS
            The company news service from the London Stock Exchange