Exercise of Warrants

Shanta Gold Limited
08 January 2007


For immediate release

                              SHANTA GOLD LIMITED
                        ("Shanta Gold" or the "Company")


Shanta confirms that on 4 January 2007 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     Subscription Value
                               Warrants      Price

Hero Nominees Limited          44,000        30p                  44,000            £13,200.00


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 12 January 2007.

The total number of issued ordinary shares in the Company, including the New
Ordinary Shares, is now 96,750,711 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