Changes to Director Remuneration Policy

Shanta Gold Limited

                                31 January 2011

                    Changes to Director Remuneration Policy

Shanta  Gold  Limited  ("Shanta"  or  the  "Company")  announces  changes to the
remuneration of certain directors of the Company.

Further  to the  announcements to  the market  regarding directors' remuneration
dated  30 June  2009 and  19 July  2010, certain  directors  of Shanta have been
issued  with  ordinary  shares  in  the  Company  in  lieu  of  part of the cash
remuneration due to them each month.

The Remuneration Committee of the Company has recently reviewed the remuneration
arrangements  for directors  and concluded  that Directors  should no  longer be
issued with new ordinary shares in the Company in lieu of remuneration. However,
certain  Directors, namely Walton Imrie, Walter  Vorwerk, Gareth Taylor and Paul
Heber  (the "Participating  Directors") wish  to acquire  ordinary shares in the
Company  on a monthly basis. Therefore, the Participating Directors have entered
into  a  share  acquisition  agreement  with  the  Company under which they have
undertaken  to place an order for ordinary shares of Shanta in the market on the
tenth  trading day  of every  month, to  be executed  on such  day or as soon as
practicable  thereafter.  The  foreign  currency  exchange  rate  to  be used in
determining  the number of shares to  be acquired by each Participating Director
will  be the spot price as published in  the London Financial Times on the ninth
trading day of every month.

Under  the  share  acquisition  agreement  the  directors  have no discretion in
respect of the acquisition of shares each month. The share acquisition agreement
shall commence on 14 February 2011 and shall expire on 14 July 2012.

The  Participating  Directors  have  agreed  to  acquire  ordinary shares of the
Company each month with the monetary values set out below:

                   Value
 Director            US$


 Walton Imrie      5,000

 Walter Vorwerk    5,000

 Gareth Taylor    15,000

 Paul Heber        2,000


 Total            27,000


Enquiries:

Shanta Gold Limited
Walton Imrie
Mobile: [phone]
Walter Vorwerk
Mobile: [phone]

Fairfax I.S. PLC
Nomad & Broker
Ewan Leggat/Laura Littley
[phone]






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Source: Shanta Gold Limited via Thomson Reuters ONE

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