Exercise of Warrants and Issue of Equity

Shanta Gold Limited

                          ("Shanta" or the "Company")

                                1 November 2011


Further  to the announcement of 6 July 2010, which details the issue of warrants
to certain parties in connection with financing of the feasibility study, Shanta
Gold announces that 802,696 new Ordinary Shares of 0.01p each have been allotted
and  issued  pursuant  to  the  exercise  of  the same number of warrants at the
exercise price of 10p. This has resulted in a remittance of funds to the Company
of a total of approximately GBP80,270.

Application  has been made to the London Stock Exchange for 802,696 new Ordinary
Shares of 0.01p each to be admitted to trading on AIM. Admission of the 802,696
new  Ordinary Shares  to trading  is expected  to become effective on 7 November
2011.

 Following  the issue of the 802,696 new  Ordinary Shares as detailed above, the
Company's  issued share capital  will consist of  265,675,726 ordinary shares of
0.01p. The  total  number  of  voting  shares  in  issue  immediately  following
Admission will be 265,675,726. The Company holds no ordinary shares in treasury.

Contacts:

Shanta Gold Limited
Walton Imrie   Tel: +27 (0) 82 444 2851
Gareth Taylor   Tel: [phone] 732 484

Nominated Adviser and Broker
Fairfax I.S. PLC
Tel: [phone]
Ewan Leggat / Laura Littley

Financial Relations
Tavistock Communications
Tel: [phone]
Emily Fenton/Ed Portman








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Source: Shanta Gold Limited via Thomson Reuters ONE

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