VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2008) - Keegan Resources Inc. ("Keegan") (TSX VENTURE:KGN)(AMEX:KGN) is pleased to announce the results of ten infill and nine stepout drill holes collared in the northern portion of the Main Zone at Esaase. Eight of the stepout holes are down dip extensions to the 43-101 resource in the north portion of the Main Zone. Highlights include 46 meters of 2.72 g/t Au and 24 meters of 3.6 g/t Au in drill hole 333 and 42 meters of 1.57 g/t Au in drill hole 334. Drill hole 337, collared in the recently discovered north extension, 360 meters north of the 43-101 resource intercepted 5 meters of 5.68 g/t Au.
Highlights from infill drilling include 46 meters of 1.98 g/t Au in drill hole 320, 16 meters of 4.02 g/t Au right from surface in drill hole 328, and 32 meters of 2.35 g/t Au and 41.8 meters of 1.88 g/t Au in drill hole 332. Keegan plans to continue aggressively drilling both the western and northern extensions. Please see www.keeganresources.com for a drill hole location map.
/T/
Table 1. Significant infill and stepout hole intercepts from recent Esaase
Drilling
------------------------------------ ------------------------------------
From Width Au From Width Au
Hole ID (m) To (m) (m) (g/t) Hole ID (m) To (m) (m) (g/t)
------------------------------------ ------------------------------------
Infill Drill Holes; Stepout Holes West and
north portion of Main Zone North Extension
------------------------------------ ------------------------------------
KERC318 1 7 7 2.75 KERC323 27 32 5 3.68
including 1 2 1 11.3 including 28 29 1 11.76
KERC318 19 49 30 1.18 KERC323 131 142 11 1.08
KERC318 73 93 20 1.36 KERC323 153 158 5 1.314
KERC319 46 71 25 0.81 KERC323 208 224 16 1.68
KERC319 84 89 5 0.92 including 208 209 1 15.49
KERC319 99 112 13 0.52 KERC324 199 209 10 2
KERC319 123 138 15 1.49 KERC324 228 238 10 1.52
KERC319 157 195 38 1.03 including 208 209 1 11.6
KEDD320 39 47 8 4.31 KERC325 256 286 30 1
including 41 42 1 24.9 KEDD326 136 145 9 0.51
KEDD320 73 78 5 0.68 KEDD326 183 192 9 2.39
KEDD320 117 139 22 1.18 KEDD326 239 244 5 3.43
including 127 128 1 11.35 KEDD326 256 276 20 1.76
KEDD320 150 164 14 1.16 including 262 263.1 1.1 12.78
KEDD320 218 264 46 1.98 KERC333 125 171 46 2.72
including 226 227 1 26.8 including 125 126 1 44.4
and 251 252 1 15.2 And 158 159 1 56.98
KERC321 9 16 7 0.91 KERC333 186 192 6 1.57
KERC321 30 40 10 0.71 KERC333 203 227 24 3.6
KERC321 58 63 5 1.35 including 210 211 1 65.85
KERC321 145 151 6 1.05 KEDD334 24 33 9 1.34
KERC321 170 180 10 0.98 KEDD334 140 155 15 0.8
KERC322 92 99 7 0.84 KEDD334 193.9 210 16.1 1.05
KERC322 178 213 35 1.62 KEDD334 234 276 42 1.57
including 182 183 1 10.49 including 235 236 1 12.9
and 186 187 1 12.54 KEDD335 136 150 14 0.86
KERC327 67 76 9 3.33 KEDD335 165 180 15 2.63
including 67 68 1 11.9 including 170 171 1 28.5
KERC328 0 16 16 4.02 KEDD335 219 224 5 0.55
including 2 3 1 49.2 KEDD335 231 236.8 5.8 1.57
KERC328 97 102 5 1.49 KEDD335 273 307.1 34.1 1.29
KERC328 121 129 8 0.8 including 303 304 1 10.7
KERC329 11 33 22 0.95 KEDD336 Assays pending
KERC329 45 71 26 0.79 KERC337 112 120 8 1.24
KERC329 90 112 22 1.98 KERC337 129 134 5 5.68
including 105 106 1 15.25 including 129 130 1 27.5
KERC329 130 150 20 1.56 ------------------------------------
including 133 134 1 10.95
KERC330 113 138 25 1.25
KERC331 27 50 23 1.04
KEDD332 18 50 32 2.35
including 32 33 1 42.32
KEDD332 71 81 10 0.75
KEDD332 106.2 148 41.8 1.88
including 122.93 123.76 0.83 27.76
and 137 137.85 0.85 10.13
------------------------------------
/T/
President and CEO Dan McCoy states: "We are very encouraged to see the deposit continuing to grow in multiple directions and particularly to see continuous wide, high grade zones in the west extension. We believe that Esaase will continue to grow into a major world class gold resource."
Richard Haslinger, P. Eng. is the Qualified Person with respect to NI 43-101 at Esaase. RC samples were taken at one meter intervals under dry drilling conditions by geologic and resource consultant RSG Global, Inc. utilizing drilling and sampling techniques widely accepted in resource definition studies of other West African gold deposits. All reverse circulation drill samples are weighed on site. All samples are using standard 50 gram fire assay with atomic absorption finish by Transworld Laboratories (GH) Ltd. in Tarkwa, Ghana or SGS Labs in Tarkwa, Ghana. QA/QC programs using internal and external standard samples, re-assays, and blanks indicate good accuracy and precision in a large majority of standards assayed. Repeatability in duplicate samples is generally within 10% variance. In instances where variance is greater than 10%, the assays from both samples are averaged. Intercepts were calculated to emphasize width rather than grade: a minimum of a 0.2 g/t cut off at beginning and end of the intercept and allowing for no more than six consecutive samples (six meters) of less than 0.2 g/t Au. All internal intercepts above 10 g/t Au are reported within the intercept. Intercepts of less than 5 meters or less than 0.5 g/t Au were not reported. Mineralization strikes approximately 30 degrees east of north and dips 45 to 60 degrees to the west. The drill holes are oriented at 110 degrees azimuth and are inclined at 45 degrees to the east, so true widths are estimated to be over 80% of the drilled widths.
About Keegan Resources: Keegan is a junior gold company offering investors the opportunity to share ownership in the rapid exploration and development of high quality, pure gold assets. The Company is focused on its wholly owned flagship Esaase and Asumura gold projects located in Ghana, West Africa. Managed by highly skilled and successful technical and financial professionals, Keegan is well financed with no debt. Keegan is also strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighboring communities. Keegan trades on the TSX-VEN and on the AMEX under the symbol KGN. More information about Keegan is available www.keeganresources.com.
On Behalf of the Board
Dan McCoy, Ph.D., President & CEO
This release includes certain statements that may be deemed forward-looking statements. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's filings that are available at www.sedar.com.
To view the drill hole location map accompanying this release please click on the following link: http://media3.marketwire.com/docs/kgn69map.pdf.
Keegan Resources Inc.
Investor Relations
(604) 683-8193
Email: info@keeganresources.com
Website: www.keeganresources.com