Shanta Gold Limited announced that Eric Zurrin, Chief Executive Officer ("CEO"), has informed the board of his decision to step down from his role after six years with the Company. Mr. Zurrin will remain as CEO until the publication of the Interim Results and throughout Third Quarter to ensure a smooth transition to new leadership for Shanta Gold. The board has initiated a search process to appoint a new CEO and will update the market on its progress in due course.

In addition, the Company announced the proposed appointment of Matthieu Bos as an independent Non-Executive Director, pending completion of regulatory due diligence. Mr. Bos is a trained metallurgist and former mining investment banker with experience across Africa. Mr. Bos is currently the President and CEO of SRG Mining, an advanced stage graphite development company with assets in Guinea and backed by the La Mancha Fund.

Mr. Bos previously worked as Executive Vice President Africa for Ivanhoe Mines in the Democratic Republic of Congo. Mr. Bos was a key member of the team that delivered the world-class Kamoa-Kakula Copper Project in the Democratic Republic of the Congo and was actively involved in $3 billion of financings from various strategic and institutional investors, including Zijin Mining and CITIC Metal.