SHG.L Regulatory News (SHG)

2 Dec 2005 07:00

Shanta Gold Limited02 December 2005 Shanta Gold Limited Friday 2 December 2005 Shanta Gold is pleased to announce the appointment of Mr Chris Picken as chiefoperating officer of Shanta Mining Company Limited in Dar es Salaam with effectfrom 1 December 2005. This follows Shanta's announcement in September this yearthat it would be stepping up its presence in Tanzania, where the company hasstarted an aggressive drilling programme. Since 2002 Mr Picken has held the position of exploration manager for ShantaMining in Tanzania. He has 18 years' experience in mineral exploration inEurope, South Africa and in South America, where he was responsible for goldexploration in the Chicanan and Increible greenstone belts in Venezuela for GoldFields, and was country manager responsible for Gold Fields' explorationactivities in Bolivia. Mr Walter Vorwerk has been appointed chairman of the audit committee, overseeingand monitoring structures and financial controls, and Mr George Bennett willassume the responsibility for interaction with the company's current and futureinvestors. Shanta's drilling programme at its Katario project is close to completion. Thecompany will be releasing the results from the programme later this month. In line with the programme for drilling on the prime Muguso target, Shanta hascommenced infrastructure development with drilling scheduled to commence inearly January 2006. Progress on the first phase exploration at Singida PL is also nearingcompletion, and results will be made available in December. Note to editors: Shanta Gold, which was admitted to the Alternative Investment Market (AIM) ofthe London Stock Exchange in June 2005, currently holds prospecting rights overa resource base of just under 1Moz, comprising 741,000 oz at Mgusu (of which127,000 oz are Indicated and 614,000 oz are Inferred, plus approximately 185,000oz Inferred at Ikungu) in what the Board considers to be some of the most highlyprospective areas of Tanzania. For further information: Shanta GoldGeorge Bennett: Walter VorwerkMobile: +27 (0) 82 652 8526 Mobile: +27 (0) 83 308 0080 JOHANNESBURGRussell & AssociatesMarion Brower/Charmane RussellTel: +27 11 880 3924 LONDONSt James' Corporate ServicesPhil DexterTel: +44 207 491 1889 This information is provided by RNS The company news service from the London Stock Exchange