Exercise of Warrants

Shanta Gold Limited
28 July 2006



                              SHANTA GOLD LIMITED

                              Exercise of Warrants



Shanta Gold Limited ("the Company") confirms that on 21 July 2006 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 Price   No. Of shares  Exercise Price
                        Warrants

Bona Fides Nominees      110,644        30p                110,644      £33,193.20
Limited


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 2 August 2006.


The total number of issued ordinary shares in the Company, including the New
Ordinary Shares, is now 69,808,772 ordinary shares.


For further information contact:


David Youngman, W.H. Ireland Ltd.                 Tel:  [phone]
Walter Vorwerk, Shanta Gold Ltd.                  Tel:  [phone]




                      This information is provided by RNS
            The company news service from the London Stock Exchange