Holding(s) in Company

Shanta Gold Limited
21 July 2006



                              SHANTA GOLD LIMITED

                          (the "Company" or "Shanta")



Shanta announces that on 20 July 2006 it received notice that on the same date
Export Holdings Limited ("Export") and Sable Gold (Mauritus) Limited ("Sable")
transferred, in total, 15,000,000 warrants to subscribe for ordinary shares of
0.01p each in the share capital of the Company ("Ordinary Shares") at a price of
30p per Ordinary Share, exercisable at any time (the "Warrants"). The transfer
of Warrants was to a consortium of investors led by Coronation Capital Limited
("Consortium"), at a price of 20p per Warrant pursuant to certain conditions
(the "Transaction").



Under the terms of the Transaction, Export and Sable have agreed to exercise
10,000,000 Warrants within 15 days of 21 July 2006; and the Consortium have also
agreed, by way of undertaking, to exercise 10,000,000 Warrants within 15 days of
21 July 2006.



Export and Sable have granted the Consortium the right to acquire a further
5,000,000 Warrants at a price of 30p per Warrant, with such right expiring on 30
January 2007, and have given the Consortium undertakings that they will support
the appointment of two directors nominated by the Consortium to the board of
Shanta.



Keten Patel (a director of Shanta) and Mahesh Patel (an alternate director of
Shanta), hold 50% and 50% respectively of the issued share capital of Export.



Walton Imrie, also a director of Shanta, holds 29.2% of the issued share capital
of Sable.



As a result of the Transaction the interests (including beneficial interests) of
Ketan Patel, Mahesh Patel and Walton Imrie in Shanta are as follows:


                                 Number of Ordinary           Number of Warrants
                                       Shares

Walton Imrie                         6,073,088                    3,884,587
Ketan Patel                         10,406,256                   6,565, 250
Mahesh Patel                        10,406,256                    6,565,250



For further information contact:



David Youngman, W.H. Ireland Ltd.                Tel:  [phone]

Walter Vorwerk, Shanta Gold Ltd                  Tel:  [phone]

Richard Shead, Shanta Gold Ltd                   Tel:  [phone]




                      This information is provided by RNS
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