Exercise of Warrants

Shanta Gold Limited
05 October 2006


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

Further to the announcement made on 18 September 2006 when Shanta confirmed that
the directors of the Company had conditionally 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") the Company is pleased the announcement
that, following receipt of cleared funds, the following transactions are now
unconditional:

    Registered Holder          Number of       Subscription       No. Of shares       Exercise Price
                               Warrants            Price

Monique du Pasquier                  350,000        30p               350,000           £105,000.00
Beaufort Industries Inc               90,900        30p                90,900            £27,270.00
Marie-Madeleine Eigenmann             70,000        30p                70,000            £21,000.00


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 11 October 2006.

The total number of issued ordinary shares in the Company, including the New
Ordinary Shares, is now 96,669,672.

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
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