Notice of EGM

26 January 2012

Shanta Gold Limited

Notice of EGM

Shanta Gold Limited ("Shanta Gold" or "the Company") announces that further to the announcement dated 6 Janurary 2012, it has today posted to shareholders the notice of extraordinary general meeting ("EGM") to be held at 10.00 a.m. on 15 February 2012 at Suite A, St Peter Port House, Sausmarez Street, St Peter Port, Guernsey GY1 2PU.

The purpose of the EGM is to secure Shareholder approval for the Board's proposal to increase the Company's authorised share capital.

The Board does not currently intend to raise further funding through the issue of equity in the Company. However, if approved by Shareholders, the increase in the authorised share capital of the Company will allow Shanta Gold to fulfil any obligations which may arise under existing agreements. In addition, it will also give the Board the ability to continue to incentivise and motivate the Company's employees and executives through the issue of options, and the flexibility to act in the interests of Shareholders should attractive investment, merger or acquisition opportunities arise.

The full notice of EGM and Form of Proxy is available for download on the Company's website (www.shantagold.com) along with a letter to Shareholders, which sets out the background to and resons for convening the EGM.

Contact details:

Shanta Gold Limited  
Walton Imrie   Tel: [phone]
Gareth Taylor   Tel: [phone]

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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