Directors' Shareholdings and Issue of Equity

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


Directors' Shareholdings and Issue of Equity



Shanta Gold announces that application has been made for 351,071 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 10 December 2009 in
lieu of salaries for the months of October and November 2009 in
relation to Mr Walton Imrie, Mr Walter Vorwerk and Mr David Scott.



Shares have been allotted to directors as follows:



+-------------------------------------------------------------------+
| Director     | Shares     | Share    | Resultant    | Resultant % |
|              | Issued     | Price    | Holding      |             |
|--------------+------------+----------+--------------+-------------|
| Walton Imrie | 119,724    | 7.63p    | 8,818,237    | 8.50%       |
|--------------+------------+----------+--------------+-------------|
| Walter       | 127,948    | 7.63p    | 358,224      | 0.35%       |
| Vorwerk      |            |          |              |             |
|--------------+------------+----------+--------------+-------------|
| David Scott  | 103,399    | 7.63p    | 247,136      | 0.24%       |
+-------------------------------------------------------------------+



The shares were issued at the closing mid-market price on the last
business day of the 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 17
December 2009.



Following the allotment of the above new ordinary shares, the
Company's issued share capital will be 103,749,198 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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