Issue of Equity

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

                           Issue of Equity

                           19 October 2009

The Board of Shanta Gold approved on 16 October 2009 the allotment
and issue of 89,638 new ordinary shares of 0.01p each in the capital
of the Company at a deemed price of 5.578p per share to Fairfax I.S.
PLC ("Fairfax"), the Company's broker and nominated adviser. This
issue of shares represents consideration of £5,000 in lieu of a cash
fee due and payable to Fairfax in respect of services rendered to the
Company.

Pursuant to the above, the Company will today submit an application
for 89,638 new ordinary shares of the Company to be admitted to
trading on AIM and the shares are expected to be admitted to trading
on 23 October 2009.

Following the issue of the new ordinary shares as detailed above, the
Company's issued share capital now comprises 101,480,067 ordinary
shares of 0.01p each. Therefore the total number of voting rights in
Shanta Gold is now 101,480,067.

For further information:

Shanta Gold Limited 

http://www.shantagold.com

Walton Imrie
Mobile: [phone]

Walter Vorwerk
Moblie: [phone]

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

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