Issue of Equity

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

Issue of Equity

15 July 2010

Shanta Gold announces that application has been made for 10,398 new ordinary
shares of 0.01p each in the Company to be admitted to trading on the AIM market
of the London Stock Exchange. The shares were allotted to an employee of the
Company on 13 July 2010 in lieu of salary for the months of April and May 2010.

The shares were allotted as follows:

+-------+---------------+-------------+
| Month | Shares Issued | Share Price |
+-------+---------------+-------------+
| April | 3,558         | 22.75p      |
+-------+---------------+-------------+
| May   | 6,840         | 20.75p      |
+-------+---------------+-------------+

The shares were issued at the closing mid-market price on the last business day
of the calendar month and converted at the exchange rate ruling at the close of
business on that date.

The new shares will rank pari passu with existing ordinary shares and dealings
are expected to commence in the new ordinary shares on 21 July 2010.

Following the allotment of the above new ordinary shares, the Company's issued
share capital consists of 127,043,285 ordinary shares of 0.01p each.

For further information, please contact:


 Shanta Gold Limited
 Walter Vorwerk        Tel: [phone]



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









[HUG#1431901]








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Source: Shanta Gold Limited via Thomson Reuters ONE