Exercise of Warrants and Issue of Equity

Shanta Gold Limited

                        ("Shanta Gold" or the "Company")

                    Exercise of Warrants and Issue of Equity

                                11 November 2011


Further  to the announcement of 6 July 2010, which details the issue of warrants
to certain parties in connection with financing of the feasibility study, Shanta
Gold  announces that 3,267,974 new Ordinary Shares of 0.01p each have today been
allotted  and issued pursuant to the exercise  of the same number of warrants at
the exercise price of 10p. The exercise of warrants has resulted in a remittance
of funds to the Company of a total of GBP326,797.40.

Application has been made to the London Stock Exchange for a total of 3,267,974
new Ordinary Shares of 0.01p each in the Company to be admitted to trading on
AIM. Admission of the 3,267,974 new Ordinary Shares to trading is expected to
become effective on 15 November 2011.

Following  the issue of the 3,267,974 new Ordinary Shares as detailed above, the
Company's  issued share capital  will consist of  268,943,700 ordinary shares of
0.01p. The  total  number  of  voting  shares  in  issue  immediately  following
Admission will be 268,943,700. The Company holds no ordinary shares in treasury.

Contacts:

Shanta Gold Limited
Walton Imrie   Tel: +27 (0) 82 444 2851
Gareth Taylor   Tel: [phone] 732 484

Nominated Adviser and Broker
Fairfax I.S. PLC
Tel: [phone]
Ewan Leggat / Laura Littley

Financial Relations
Tavistock Communications
Tel: [phone]
Emily Fenton/Ed Portman








This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: Shanta Gold Limited via Thomson Reuters ONE

[HUG#1563292]