3 October 2017

Shanta Gold Limited

("Shanta Gold", "Shanta" or the "Company")

Director/PDMR Shareholding

Shanta Gold (AIM: SHG), the East Africa-focused gold producer, developer and explorer, announces that further to the announcement made on 3 August 2017 regarding the retirement of Toby Bradbury as Chief Executive Officer, the Company has agreed that Mr Bradbury's Performance Share and Retention Share awards vested on 2 October 2017 resulting in the issuance of 1,553,262 ordinary shares under the Shanta Gold Limited Long Term Incentive Plan.

The Company also announces that, pursuant to the salary/fee sacrifice arrangements entered into on 20 June 2017 under which those directors committed to subscribe for ordinary shares on a quarterly basis for a period of 12 months, Anthony Durrant (Chairman) and Ketan Patel (Non-Executive Director), Luke Leslie (Interim Chief Financial Officer) and Keith Marshall (Non-Executive Director), have each subscribed on 2 October 2017 for ordinary shares in the Company by way of fee sacrifice at a price of 6 pence per share. In aggregate, this will result in the issuance of 1,049,040 ordinary shares in Company (the "Fee Sacrifice Shares").

Application will be made to London Stock Exchange plc ("LSE") for the 1,049,040 Fee Sacrifice Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur and dealings in the Fee Sacrifice Shares are expected to commence on the LSE at 8.00 a.m. on or around 9 October 2017.

From Admission, the Company's issued ordinary share capital will comprise 768,560,811 ordinary shares. No ordinary shares are held in treasury. The figure of 768,560,811 may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Notification of transaction by Person Discharging Managerial Responsibilities ("PDMR')

This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

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About Shanta Gold

Shanta Gold is an East Africa-focused gold producer, developer and explorer. It currently has defined ore resources on the New Luika and Singida projects in Tanzania and holds exploration licences over a number of additional properties in the country. Shanta's flagship New Luika Gold Mine commenced production in 2012 and produced 87,714 ounces in 2016. The Company has been admitted to trading on London's AIM and has approximately 768 million shares in issue. For further information please visit: www.shantagold.com.

ENDS