VANCOUVER,
BRITISH COLUMBIA—(Marketwire - Oct. 15, 2009) - Keegan Resources Inc. (TSX:KGN)(NYSE Amex:KGN) (“Keegan”) would like to make a small
correction to its previous news release. The intercept in drill hole 581
between 59 and 76 meters should have been written as “17 meters of 1.44 g/t Au”
in the first paragraph and in Table 1.
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 in the exciting and rapidly growing mining
district located in southwest Ghana. The Company is focused on its wholly owned
flagship Esaase project, which has an indicated resource of 41.942 M tonnes
with an average grade of 1.5 g/t Au for a total of 2.025 Moz ounces and an
inferred resource of 28.573 M tonnes at an average grade of 1.6 g/t Au, for a
total of 1.451 million ounces. Both estimates apply a 0.6 g/t Au cut-off. In
addition, the company continues to actively explore its Asumura gold project,
located on the same belt bounding structure as Newmont’s Ahafo mine. 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
and the NYSE AMEX under the symbol KGN. More information about Keegan is
available at www.keeganresources.com.
On Behalf of the Board
Dan McCoy, Ph.D., President & CEO
For more information please visit the company website at
www.keeganresources.com or contact at 604-683-8193 or info@keeganresources.com.
Forward Looking and other Cautionary
Information
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 estimated resource
quantities, grades and contained metals, possible future mining, exploration
and development activities, are forward-looking statements. Although the
Company believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements should not be in any way
construed as 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 for metals, the
conclusions of detailed feasibility and technical analyses, lower than expected
grades and quantities of resources, mining rates and recovery rates and the
lack of availability of necessary capital, which may not be available to the
Company on terms acceptable to it or at all. The Company is subject to the
specific risks inherent in the mining business as well as general economic and
business conditions. For more information on the Company, Investors should
review the Company’s annual Form 20-F filing with the United States Securities
Commission and its home jurisdiction filings that are available at
www.sedar.com.
Information Concerning Estimates of Measured, Indicated and Inferred Resources
This news release also uses the terms ‘indicated resources’ and ‘inferred
resources’. Keegan Resources Inc. advises investors that although these terms
are recognized and required by Canadian regulations (under National Instrument
43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and
Exchange Commission does not recognize them. Investors are cautioned not to
assume that any part or all of the mineral deposits in these categories will ever
be converted into reserves. In addition, ‘inferred resources’ have a great
amount of uncertainty as to their existence, and economic and legal
feasibility. It cannot be assumed that all or any part of an Inferred Mineral
Resource will ever be upgraded to a higher category. Under Canadian rules,
estimates of Inferred Mineral Resources may not form the basis of feasibility
or pre-feasibility studies, or economic studies except for Preliminary
Assessment as defined under 43-101. Investors are cautioned not to assume that
part or all of an inferred resource exists, or is economically or legally
mineable.
Keegan Resources Inc.