Director Shareholding and Issue of Equity

Shanta Gold Limited
                  ('Shanta Gold' or 'the Company')

                           23 October 2009

Directors' Shareholdings and Issue of Equity

Shanta Gold announces that application has been made for 1,918,060
new ordinary shares of 0.01p each in the Company to be admitted to
trading on the AIM market of the London Stock Exchange. Further to
the announcement on 30 June 2009 (providing for certain Directors to
accept shares in the Company in lieu of salary), the shares were
allotted to certain directors of the Company on 22 October 2009 in
lieu of salaries for the period 1 July 2009 to 30 September 2009 in
relation to Mr Walton Imrie, Mr Walter Vorwerk and Mr David Scott. In
addition, Mr Walton Imrie was issued additional shares in the Company
in lieu of his remuneration for the period 1 December 2008 to 30 June
2009 as provided for in his contract of employment.

Shares have been allotted to directors as follows:


+-------------------------------------------------------------------+
| Director    | Shares    | Average Share   | Resultant | Resultant |
|             | Issued    | Price           | Holding   | %         |
|-------------+-----------+-----------------+-----------+-----------|
| Walton      | 1,588,047 | 3.98p           | 8,698,513 | 8.41%     |
| Imrie       |           |                 |           |           |
|-------------+-----------+-----------------+-----------+-----------|
| Walter      | 186,276   | 6.42p           | 230,276   | 0.22%     |
| Vorwerk     |           |                 |           |           |
|-------------+-----------+-----------------+-----------+-----------|
| David Scott | 143,737   | 6.42p           | 143,737   | 0.14%     |
+-------------------------------------------------------------------+


The shares were issued at the closing mid-market price on the last
business day of each calendar month and converted at the exchange
rate ruling at the close of business on that date.

The new shares will rank pari passu with existing ordinary shares and
dealings are expected to commence in the new ordinary shares on 29
October 2009.

Following the allotment of the above new ordinary shares, the
Company's issued share capital will be 103,398,127 ordinary shares of
0.01p each.

For further information, please contact:



Shanta Gold Limited
Walter Vorwerk      Tel: [phone]




Fairfax I.S. PLC
Ewan Leggat / Laura Littley Tel: [phone]

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