Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Shanta Gold Ltd

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

X

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

Blakeney LLP

4. Full name of shareholder(s)  (if different from 3.):iv

Blakeney LLP as investment advisor manager of the funds listed section 9.

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

22nd October 2012

6. Date on which issuer notified:

22nd October 2012

7. Threshold(s) that is/are crossed orreached: vi, vii

9%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB00B0CGR828

34,427,888

0

34,427,888

0

34,427,888

0

8.45%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

34,427,888

8.45%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Resulting Number of Shares % of Total Issued Share Capital

Blakeney Investors Sicav 6,667,814 1.64%

CC Development Partners LP 1,076,599 0.26%

Blakeney LP 11,230,045 2.76%

ONYX LP 2,709,128 0.67%

Ithaca LP 694,968 0.17%

Austin Alpha LP 2,926,428 0.72%

Heviben LP 5,414,933 1.33%

Palo Alto LP 2,238,374 0.55%

Menafrika LP 1,142,555 0.28%

Blakeney Sand Hill LP 327,044 0.08%

Total 34,427,888 8.45%

Proxy Voting:

10. Name of the proxy holder:

Blakeney LLP

11. Number of voting rights proxy holder will ceaseto hold:

Not applicable

12. Date on which proxy holder will cease to holdvoting rights:

Not applicable

13. Additional information:

14. Contact name:

Lauren Burns

15. Contact telephone number:

020 7352 4117