Statement re Share Price Movement

Shanta Gold Limited
                     ("Shanta" or "the Company")

                        Share Price Movement


The Board of Shanta notes
the recent depreciation of the Company's share price. The Company  is
not aware
of any  price sensitive  information, which  needs to  be  disclosed.
There is therefore
no particular reason to explain  the share price depreciation of  the
Company's
AIM securities.


Walton Imie, Chairman,
commented:

"We are well capitalised
and aim to spend approximately $8.04 million to progress  exploration
on our projects
by the  year end.  After  this expenditure  the Company  should  have
approximately
$4.35 million in residual cash"

For further information:

Shanta Gold Limited 

http://www.shantagold.com
Walter (Wally) Vorwerk
Mobile: [phone]

Panmure Gordon (UK) Limited
Edward Farmer
[phone]

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