Extraordinary General Meeting & Grant of share options 6 January 2012

Shanta Gold Limited ("Shanta Gold" or "the Company") today gave notice of its intention to hold an extraordinary general meeting of the Company 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.

The Board of Shanta Gold announces that on 6 January 2012 it approved the award of options to certain employees of the Company under the terms of the Company's Employee Share Option Plan. A total of 3,030,000 options, equivalent to approximately 1.12% of the current issued ordinary share capital of the Company, have been awarded to 33 employees. The share options have an exercise price of 23.13p and 25% vest immediately, 25% will vest on the first anniversary of the award and the balance of 50% will vest on the second anniversary of the award.

Options have only been awarded to employees who are not Directors of the Company and who were not in possession of any unpublished price sensitive information

Contacts: Shanta Gold Limited

Walton Imrie
Mobile: +27 (0) 82 444 2851
Gareth Taylor
Mobile: +255(0)757732484

Nominated Adviser and Broker

Fairfax I.S. PLC
Ewan Leggat/Laura Littley
Tel: +44 (0) 20 7598 5368

Financial Relations

Tavistock Communications
Emily Fenton/Ed Portman
Tel: +44 (0) 20 7920 3150

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