This actually drops from the Grimling Spiritslaver, in the balcony room in Inner Acrylia. I've only killed him a few times but he's always dropped it for me.
Dropped for us last night from Grimling Spiritist in the Balcony Room with sacrificial Cauldron..Cleric mob..no tougher than other inner area nameds (Warlord, Arcanist etc)..hit for around 400ish...assisted from this world by 55 Ranger, 58 Ranger, 61 Druid, 57 Chanter and I (57 Necro)...
This is a great upgrade for any SK/PAL who uses the very common Sarnak Battle Shield. It lacks the Sv F, M and C, but saves are generally situational stats.
Not a bad shield, but not amazing by the same token. If there's really no Rec. Level, it would make wonderful twink gear or great for a below-40 guildie.