Chunya Exploration Results

SHANTA GOLD LIMITED

                    FURTHER EXPLORATION RESULTS FROM CHUNYA

                                 30 March 2010

Shanta Gold Limited ("Shanta" or the "Company") is pleased to announce the
latest results from further mapping and trenching of the strike extensions of
known mineralised structures and the discovery of new potentially mineralised
structures on the Chunya licence area in southern Tanzania. The results indicate
that there is the potential to discover additional economic ore resources along
these strike extensions. Chunya contains a total JORC compliant resource of
845,000 ounces of Au (at a 0g/t cut off).

Highlights include:
·         Positive gold results have been returned from trenching of 400m of
additional strike at Bauhinia Creek, Black Tree Hill and the recently discovered
MK target, bringing the total additional strike that has been trenched and
sampled in the past six months to 1000m.

·         A total potential mineralised strike extent of 4.2km has now been
identified at Chunya of which less than 1000m has been tested by drilling.

·         Further trenching of the Bauhinia Creek prospect returned a best value
of 3.14g/t over 5.6m and confirmed the existence of an eastern extension of the
structure of at least 100m (total potential strike extended to 450m).

·         Black Tree Hill mapping has revealed an western extension of
approximately 400m (total potential strike of 1100m) and a single trench 200m
west of the last trenching has returned a value of 3.31g/t over 0.65m.

·         Mapping has identified a sub-parallel east-west trending structure
located 100m north of Black Tree Hill and a prominent east-northeast trending
structure with evidence of disused old colonial workings and with a known strike
of 600m. This structure intersects both Black Tree Hill and the sub-parallel
structure; trenching along a 200m strike returned best values of 2.01g/t over
2.05m, 2.88g/t over 1.6m and 6.00g/t over 1m.

·         Trenching along a 100m strike of the recently identified MK target has
returned best values of 8.24g/t over 0.5m, 4.11g/t over 1.6m, and 2.82g/t over
3.6m.

Bauhinia Creek Trench Results

The Bauhinia Creek prospect contains a JORC compliant resource of 54,500 ounces
at 4.22g/t (Indicated Resource) and 26,900 ounces at 2.41g/t (Inferred Resource)
for a total of 81,000 ounces at a grade of 3.38g/t (at a 1g/t cut off). In
February Shanta announced mapping and trenching results that had extended the
strike of the Bauhinia Creek prospect a further 150m to the west. The eastern
strike extent has been mapped and trenching conducted on a 20m spacing for a
further 100m. This extends the total potential strike length to 450m. The zone
is open to the east and west. During the 2010 field programme the Company plans
to extend the mapping and trenching in both directions. This trenching has
returned the following results:




+--------------------------------------------------------------+
|                BAUHINIA CREEK EAST EXTENSION                 |
+-----------+-------+-------+--------------------+-------------+
| Trench ID | From  |  To   | Intersection Width |    Gold     |
|           |       |       |                    | Grade (g/t) |
+-----------+-------+-------+--------------------+-------------+
| BCT008    |  5.40 |  9.80 |               4.40 |        1.11 |
+-----------+-------+-------+--------------------+-------------+
| BCT009    | 11.90 | 17.50 |               5.60 |        3.14 |
+-----------+-------+-------+--------------------+-------------+
| BCT0010   | 21.30 | 22.80 |                1.5 |        1.16 |
+-----------+-------+-------+--------------------+-------------+

Black Tree Hill Trench Results

Black Tree Hill contains Indicated Resources and Inferred Resources of 37,600
ounces at 1.99g/t and 40,000 ounces at 1.43g/t respectively for a total of
77,600 ounces at a 1.66g/t (at a 1g/t cut off). The mapping has defined a
further 400m of strike extent to the west (total potential strike 1100m). In
addition to this a  potential strike of 500m exists on a sub-parallel east-west
structure mapped 100m to the north and 600m on a prominent east-northeast
trending cross structure that intersects both Black Tree Hill and this
sub-parallel structure 400m to the west. Evidence exists of disused surface mine
excavations in the vicinity of these intersections. The Black Tree Hill
structure is open to the east and west. Further mapping and trenching to the
east and trenching of the western extent are planned in the 2010 field
programme.

A single trench excavated along the west extent of Bauhinia Creek returned a
value of 3.31g/t over 0.65m. A series of 8 trenches spaced at 20m along a 200m
strike at the north eastern limit of the east-northeast cross structure has
returned the following results:

+--------------------------------------------------------------+
|               BLACK TREE HILL - WEST EXTENSION               |
+-----------+-------+-------+--------------------+-------------+
| Trench ID | From  |  To   | Intersection Width |    Gold     |
|           |       |       |                    | Grade (g/t) |
+-----------+-------+-------+--------------------+-------------+
|  BTT001   | 10.25 | 10.65 |        0.4         |    1.15     |
+-----------+-------+-------+--------------------+-------------+
|  BTT001   | 16.00 | 19.15 |        3.15        |    0.93     |
+-----------+-------+-------+--------------------+-------------+
|  BTT002   | 9.40  | 11.45 |        2.05        |    2.01     |
+-----------+-------+-------+--------------------+-------------+
|  BTT004   | 6.70  | 7.30  |        0.6         |    3.07     |
+-----------+-------+-------+--------------------+-------------+
|  BTT006   | 6.85  | 8.45  |        1.6         |    2.88     |
+-----------+-------+-------+--------------------+-------------+
|  BTT007   | 8.60  | 9.60  |         1          |    6.00     |
+-----------+-------+-------+--------------------+-------------+
|  BTT008   | 6.35  | 7.90  |        1.55        |    1.38     |
+-----------+-------+-------+--------------------+-------------+
MK Target Trench Results

Shanta announced the discovery of the new MK target in February. Further mapping
and 20m spaced trenches has followed the zone to the west for a total of 100m
from the initial trench. The trench sampling has returned the following results:



+--------------------------------------------------------------+
|                         "MK" TARGET                          |
+-----------+-------+-------+--------------------+-------------+
| Trench ID | From  |  To   | Intersection Width |    Gold     |
|           |       |       |                    | Grade (g/t) |
+-----------+-------+-------+--------------------+-------------+
|   MK002   | 9.20  | 9.70  |        0.5         |    8.24     |
+-----------+-------+-------+--------------------+-------------+
|   MK002   | 21.50 | 23.10 |        1.6         |    4.11     |
+-----------+-------+-------+--------------------+-------------+
|   MK003   | 28.40 | 32.00 |        3.6         |    2.82     |
+-----------+-------+-------+--------------------+-------------+
|   MK004   | 14.20 | 16.00 |        1.8         |    0.93     |
+-----------+-------+-------+--------------------+-------------+
|   MK005   | 8.40  | 11.70 |        3.3         |    1.76     |
+-----------+-------+-------+--------------------+-------------+
|   MK005   | 12.70 | 16.70 |         4          |    1.32     |
+-----------+-------+-------+--------------------+-------------+
|   MK006   | 9.05  | 9.80  |        0.75        |    1.30     |
+-----------+-------+-------+--------------------+-------------+

The 2010 trenching programme is continuing to follow these mineralised
structures. Potentially economically mineralised zones defined at surface will
be prioritized for RC drilling which is planned for later in this year's
exploration programme. Shanta's chairman Walton Imrie has said, "These results
raise our confidence in the discovery of additional resources at Chunya and a
drill programme is planned to begin immediately after the rainy season to test
our recent good surface results at depth."

For further information:

Shanta Gold Limited 

http://www.shantagold.com

Walton Imrie
Mobile: [phone]

David Scott
Mobile: + 255 (0) 784 366146

Walter Vorwerk
Moblie: +27 (0)83 308 0080

Fairfax I.S. PLC
Ewan Leggat/Laura Littley
[phone]

Qualified Person:

Deon  van  der  Heever  has  more  than  18 years  experience  in the mining and
exploration industry. He is the Executive Director of GeoLogix MRC (Pty) Ltd. He
is  the founding member of GeoLogix and  has provided consulting services to the
minerals  industry for eight years. His field  of expertise is gold and platinum
and  he has completed  and signed off  many resource estimates  in South Africa,
Africa,  North America  and Tajikistan.  He is  registered by  the South African
Council  for Natural Scientific Professions  as a Professional Natural Scientist
in  the field of practice of Geological Science, Registration Number 400115/00,
and as such is considered to be a Competent Person. Deon van der Heever consents
to  the inclusion in the report of the matters based on his (or her) information
in the form and context in which it appears.

Glossary

JORC - The Joint Ore Reserves Committee.  The Australasian Code  for Reporting
of Mineral Resources and  Ore Reserves (the 'JORC Code'  or
'the Code'), which  sets out minimum  standards, recommendations  and guidelines
for  Public  Reporting  of  exploration  results,  mineral resources and ore
reserves in Australasia.

 - Measured Resource.  An in-situ mineral resource calculated with a high
confidence level to which economic parameters have not been applied.  Also that
part of a mineral resource where the data used for inspection, sampling and
measurement is of sufficient quality and density such that the geological
character, continuity, grade and nature are sufficiently well understood to
define the location and characteristics of mineralisation with a high degree of
confidence

 - Indicated Resource. An in-situ mineral resource calculated with a moderate
confidence level to which economic parameters have not been applied.

- Inferred Resource.  An in-situ mineral resource calculated with a low
confidence level to which economic parameters cannot be applied.

- RC Drilling. Reverse Circulation Drilling. A variation of the rotary drilling
method in which the cuttings are pumped up and out of the drill pipe, an
advantage in certain large diameter holes.





[HUG#1399176]