Shanta Gold Regulatory News (SHG)

Hole

Drilling Type

From (m)

To (m)

Interval (m)

Au (g/t)

CSD294

DD

110.20

113.25

3.05

15.17

Including:

110.20

111.43

1.23

36.29

CSD297

122.76

136.31

13.55

1.87

Including:

123.36

126.26

2.90

4.07

133.24

136.31

3.07

2.56

Deposit

Drilling Type

BHID

From (m)

To (m)

Interval (m)

Au (g/t)

BC AREA 1

DD

CSD251

40.85

46.70

5.85

0.90

50.96

51.95

0.99

0.72

56.23

57.66

1.43

0.59

98.00

108.56

10.56

22.67

Including:

100.60

104.90

4.30

51.65

119.50

123.44

3.94

1.26

Including:

120.41

121.80

1.39

2.67

CSD253

No significant intersection

CSD257

No significant intersection

CSD260

No significant intersection

RC

CSR630

10.00

11.00

1.00

0.11

58.00

59.00

1.00

0.02

203.00

204.00

1.00

0.01

CSR631

128.00

130.00

2.00

0.01

Including:

129.00

130.00

1.00

0.02

Deposit

Drilling Type

BHID

From (m)

To (m)

Interval (m)

Au (g/t)

LUIKA

DD

CSD227*

529.20

534.08

4.88

4.72

Including:

530.10

532.22

2.12

8.07

CSD269

531.62

531.93

0.31

6.00

533.93

534.74

0.81

0.64

539.92

545.36

5.44

5.84

Including:

541.97

543.13

1.16

17.88

CSD277

No significant intersection

CSD279

225.85

229.08

3.23

0.61

Including:

225.85

226.25

0.40

3.18

554.00

557.72

3.72

1.05

Including:

554.00

555.00

1.00

2.00

CSD283

88.54

92.44

3.90

0.52

Including:

90.69

91.00

0.31

1.82

91.90

92.44

0.54

1.00

99.94

100.20

0.26

1.12

CSD285

67.43

70.05

2.62

1.51

Including:

67.43

68.16

0.73

3.96

73.11

74.65

1.54

1.51

Including:

74.20

74.65

0.45

2.40

82.75

85.91

3.16

0.59

Including:

85.27

85.91

0.64

1.12

CSD293

118.63

119.35

0.72

1.28

125.34

125.98

0.64

2.18

135.07

136.12

1.05

0.89

CSD298

155.06

159.43

4.37

2.37

165.50

170.44

4.94

0.77

172.80

177.75

4.95

3.23

Hole

Drilling Type

From (m)

To (m)

Interval (m)

Au (g/t)

PSRC046

RC

16

21

5

1.42

PSRC049

53

61

8

2.60

Including:

54

55

1

5.02

57

60

3

4.23

PSRC050

32

34

2

3.11

PSRC052

18

20

2

2.70

PSRC053

35

41

6

1.03

PSRC054

12

14

2

2.26

PSRC055

10

18

8

1.46

Including:

12

13

1

5.52

22

23

1

3.38

PSRC056

19

22

3

1.70

PSRC066

53

60

7

2.38

Including:

54

56

2

4.75

PSRC076

41

45

4

1.38

Including:

42

43

1

3.96

PSRC079

20

27

7

2.10

Including:

20

23

3

3.22

PSRC081

63

66

3

1.87

Including:

63

65

2

2.39

PSRC051

53

63

10

2.26

Including:

59

63

4

4.07

PSRC083

69

73

4

1.97

Including:

69

72

3

2.35

81

83

2

1.31

87

89

2

4.00

PSRC086

132

134

2

2.10

PSRC088

167

180

13

3.01

Including:

170

175

5

5.06

PSRC089

58

67

9

2.46

Including:

63

66

3

5.63

PSRC090

93

100

7

2.25

Including:

96

99

3

4.49

Shanta Gold Limited

Eric Zurrin (CEO)

 +44 (0) 14 8173 2153

Luke Leslie (CFO)

Nominated Adviser and Joint Broker

Liberum Capital Limited

Scott Mathieson / Ed Thomas / Nikhil Varghese

 +44 (0) 20 3100 2000

Joint Broker

Tamesis Partners LLP

Charlie Bendon / Richard Greenfield

 +44 (0) 20 3882 2868

Public Relations

FTI Consulting

Sara Powell / Jourdan Webb

 +44 (0) 20 3727 1426

"Au"

chemical symbol for gold

"cut off grade" (COG)

the lowest grade value that is included in a resource statement. It must comply with JORC requirement 19: "reasonable prospects for eventual economic extraction" the lowest grade, or quality, of mineralised material that qualifies as economically mineable and available in a given deposit. It may be defined on the basis of economic evaluation, or on physical or chemical attributes that define an acceptable product specification

"g/t"

grammes per tonne, equivalent to parts per million

"Inferred Resource"

that part of a Mineral Resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological and/or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings, and drill holes which may be limited or of uncertain quality and reliability

"Indicated Resource"

that part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade, and mineral content can be estimated with a reasonable level of confidence. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings, and drill holes. The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed

"JORC"

The Australasian Joint Ore Reserves Committee Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves 2012 (the "JORC Code" or "the Code"). The Code sets out minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration Results, Mineral Resources and Ore Reserves

"koz"

thousand troy ounces of gold

"Measured Resource"

that part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade, and mineral content can be estimated with a high level of confidence. It is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings, and drill holes. The locations are spaced closely enough to confirm geological and grade continuity

"Mineral Resource"

a concentration or occurrence of material of intrinsic economic interest in or on the Earth's crust in such form, quality, and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade, geological characteristics, and continuity of a Mineral Resource are known, estimated, or interpreted from specific geological evidence and knowledge. Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories when reporting under JORC

"Mt"

million tonnes

"oz"

troy ounce (= 31.103477 grammes)

"Reserve"

the economically mineable part of a Measured and/or Indicated Mineral Resource

"t"

tonne (= 1 million grammes)

Criteria

JORC Code explanation

Commentary

Sampling techniques

· Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

· Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

· Aspects of the determination of mineralisation that are Material to the Public Report.

· In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

· Sub surface samples have been collected by a variety of different drilling techniques. Samples either comprise chips from reverse circulation (RC) or core from diamond.

· RC samples are homogenised by riffle splitting prior to sampling and then assayed as 1m intervals with 2-3kg submitted for assay.

· Diamond core is split by a core saw with half the core submitted for assay and the other half stored in trays on site. Samples are typically submitted as 1m intervals although within the mineralised zones irregular lengths are collected to reflect rock type and alteration intensity.

· Drill holes are oriented perpendicular to the interpreted strike of the Mineralised trend.

· Samples are submitted to the on-site lab (Minopex ) or to the SGS Laboratory in Mwanza for analysis. CRMs, blanks and duplicates are inserted into the sample stream prior to dispatching to laboratory.

· At least 3kg sample pulverized and a 50g charge fire assayed with AAS finish for gold.

Drilling techniques

· Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit, or other type, whether core is oriented and if so, by what method, etc).

Drilling techniques used at New Luika Gold Mine:

· Reverse Circulation (RC).

· Diamond Core/NQ diameter, standard tube with all core oriented when feasible.

Drill sample recovery

· Method of recording and assessing core and chip sample recoveries and results assessed.

· Measures taken to maximise sample recovery and ensure representative nature of the samples.

· Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

· Core sample recoveries routinely measured and recorded in spreadsheet database.

· Samples split half core perpendicular to strike of structures.

Logging

· Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

· Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

· The total length and percentage of the relevant intersections logged.

· Logging of geology, alteration, and geotechnical aspects recorded in drill logs for diamond core drilling.

· Logging is qualitative; All drill core photographed.

· Entire intervals that drilled were logged.

Sub-sampling techniques and sample preparation

· If core, whether cut or sawn and whether quarter, half or all core taken.

· If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

· For all sample types, the nature, quality, and appropriateness of the sample preparation technique.

· Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

· Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

· Whether sample sizes are appropriate to the grain size of the material being sampled.

· Half core taken; sawn.

· For trench samples, the entire sample for the respective interval aggregated, not riffled, or split. Samples are typically dry.

· Aggregated half core; Entire 3kg sample pulverized at laboratory prior to fire assay in order to minimize bias.

· Drilling and channels planed orthogonal to the strike of structures/lithologies in order to maximize representativeness.

· Field duplicates sampled at appropriate intervals.

Quality of assay data and laboratory tests

· The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

· For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

· Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

· Fire assay is appropriate for the nature of gold mineralization being assayed.

· No geophysical tools used to generate exploration results.

· Registered reference material inserted at the interval of 20 samples.

· Levels of accuracy and precision (detection limit) for gold is 0.01 ppm which is suitable for the level of assays reported.

Verification of sampling and assaying

· The verification of significant intersections by either independent or alternative company personnel.

· The use of twinned holes.

· Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

· Discuss any adjustment to assay data.

· Significant intersections that were reported by field personnel are yet to be verified by an independent CP.

· No twinning of drill holes.

· Primary data was logged onto paper and later transferred into database, verified by a Senior Geologist, and stored in electronic database, which is regularly backed up. Database is verified and compared with standard assays stored in using established company protocols.

· No adjustments have been made to assay data.

Location of data points

· Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

· Specification of the grid system used.

· Quality and adequacy of topographic control.

· Drill holes were accurately located and surveyed using Trimble DGPS survey equipment.

· All RC and diamond holes have been surveyed by a down hole camera.

· Drill holes are surveyed in UTM Coordinates System Arc 1960 zone 36S.

· Topographical surveys were done using Aerial Lidar Survey.

Data spacing and distribution

· Data spacing for reporting of Exploration Results.

· Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

· Whether sample compositing has been applied.

· Drilling assayed on a maximum of 1 m downhole.

· The data spacing was enough to establish the degree of geological and grade continuity appropriate for the mineral resource estimation procedures.

· Samples were not composited.

Orientation of data in relation to geological structure

· Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

· If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

· Drilling planned perpendicular to the interpreted strike of lithological units and geological structures.

· No sampling bias was interpreted.

Sample security

· The measures taken to ensure sample security.

· Samples secured by senior personnel on site and transported directly by company vehicle to the laboratories (Minopex Labs in NLGM and SGS in Mwanza).

Audits or reviews

· The results of any audits or reviews of sampling techniques and data.

· Internal reviews are regularly completed but no external audits were carried out for the currently reported results.

Criteria

JORC Code explanation

Commentary

Mineral tenement and land tenure status

· Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

· The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.

· ML408/2010

· Valid to 20/09/2030

Exploration done by other parties

· Acknowledgment and appraisal of exploration by other parties.

· Historical colonial exploration and mining works.

Geology

· Deposit type, geological setting, and style of mineralisation.

· Underlain by a complex association of high grade metamorphic and intrusive lithologies, commonly intruded by dykes of variable composition. Modally, granodioritic and granitic lithologies are most encountered.

· These granodiorites and granites have been interpreted as late-orogenic intrusive phases associated with gold mineralisation in the area. Subordinate diorite, porphyroblastic hornblende gabbro, quartzo-feldspathic felsite and migmatite are also regularly observed.

· Dyke intrusive rocks include dolerite, pegmatite, and common aplite and alaskite, seemingly randomly crosscutting major lithologies, and therefore regarded as younger than the country rock.

Drill hole Information

· A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:

o easting and northing of the drill hole collar

o elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar

o dip and azimuth of the hole

o down hole length and interception depth

o hole length.

· If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

· Relevant tables included summarizing drill holes locations, RL, azimuth, length/depth, and significant intersection intervals.

Data aggregation methods

· In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.

· Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

· The assumptions used for any reporting of metal equivalent values should be clearly stated.

· Exploration results from drilling sampling have been weighted by interval.

· No high-grade caps have been applied.

· Lower cut-off grade of 0.5 g/t Au has generally been applied to significant intersections.

· Aggregate drilling and trenching intervals do not incorporate longer lengths of low-grade results.

· No metal equivalent reported.

Relationship between mineralisation widths and intercept lengths

· These relationships are particularly important in the reporting of Exploration Results.

· If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

· If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known').

· Drill holes have been drilled as perpendicular as possible to the general strike of the mineralized zones and structures so that the intersected lengths are close to true widths.

Diagrams

· Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

· Maps and sections are being generated.

Balanced reporting

· Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.

· All significant drilling results have been reported.

Other substantive exploration data

· Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

· Metallurgical studies on mineralised material from the Bauhinia Creek deposit during 2010/2011 indicated that the ore is amenable to direct cyanidation leaching with an average of 85% gold liberated.

Further work

· The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).

· Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

· Drilling to be continued to test the down-dip continuity of the delineated mineralization.