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Keegan Receives Excellent New Results From 2008 Esaase Gold Property Drill Program

February 18, 2009 
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 18, 2009) - Keegan Resources Inc. ("Keegan") (TSX:KGN)(NYSE Alternext US:KGN)is pleased to announce the balance of the results from its 2008 infill and exploration drilling program at the Esaase property. Highlights include 26 m @ 2.51 g/t Au and 23 meters @ 3.37 g/t Au from the exploration drilling and 55 meters of 2.22 g/t Au and 99 meters of 1.04 g/t Au from down dip stepout holes in the main zone.  The highlighted results in the table below were obtained from drilling down dip of the current 43-101 resource. Please see www.keeganresources.com for a drill hole location map.

Table 1: Intercepts from resource expansion drilling program at the Esaase property having a minimum grade-width of approximately 10 g/t Au x meter. Intercepts with grade-widths of approximately 40 g/t Au x meter or higher are marked with (i). Distances are in drilled meters and grades reported in g/t Au.

/T/

-----------------------------------  ------------------------------------
Hole ID       From  To Width Grade   Hole ID       From    To Width Grade
-----------------------------------  ------------------------------------
KEDD483(i)     141 167    26  2.51   KERC529          5    21    16  0.87
-----------------------------------  ------------------------------------
including(i)   162 163     1  53.2   KERC529         34    48    14  0.92
-----------------------------------  ------------------------------------
KEDD483(i)     197 209    12  1.26   KEDD530         47    54     7     1
-----------------------------------  ------------------------------------
KERC484        240 249     9  1.75   KEDD530(i)     254   309    55  2.22
-----------------------------------  ------------------------------------
KEDD487(i)     303 326    23  3.37   including(i)   281   282     1  33.8
----------------------------------   ------------------------------------
including(i)   309 310     1  12.4   including(i)   300   301     1  29.9
----------------------------------   ------------------------------------
including(i) 315.3 316     1  22.7   KEDD531(i)     196   246    50   1.4
----------------------------------   ------------------------------------
KEDD488        179 188     9  1.88   including(i) 206.2   207   0.8  33.7
----------------------------------   ------------------------------------
KEDD488        298 307   9.3  1.17   and(i)         228 228.1   0.1   100
----------------------------------   ------------------------------------
KEDD489        167 177    10  0.98   KEDD532(i)     251   274    23  1.49
----------------------------------   ------------------------------------
KEDD489        272 281     9  1.09   including(i) 255.1 256.1     1  13.7
----------------------------------   ------------------------------------
KEDD490        187 201    14  0.98   KEDD533(i)     171   192    21  2.51
----------------------------------   ------------------------------------
KEDD493        201 217    16  1.24   including(i)   191   192     1    39
----------------------------------   ------------------------------------
KEDD514(i)     234 285    51  0.93   KEDD533        281   292    11  1.96
----------------------------------   ------------------------------------
KERC515         55  73    18  0.89   including      284   285     1  12.2
----------------------------------   ------------------------------------
KERC515         16  27    11  1.01   KEDD533        312   322    10   1.2
----------------------------------   ------------------------------------
KEDD517        142 166    24  0.79   KEDD534        280   292    12  1.63
----------------------------------   ------------------------------------
KEDD520         94 107    13  0.72   KEDD534        325   342    17  1.87
----------------------------------   ------------------------------------
KEDD520        175 196    21  0.59   KEDD535(i)     257   356    99  1.04
----------------------------------   ------------------------------------
KEDD520        225 247    22  0.74   including(i)   300   301     1  38.7
----------------------------------   ------------------------------------
KERC526          0  10    10  0.87   KEDD536        163   178    15  1.04
----------------------------------   ------------------------------------
KERC526         78  86     8  1.13   including      163   164     1  12.3
----------------------------------   ------------------------------------
KERC527         73  86    13  1.46   KEDD536(i)     190   244    54   1.1
----------------------------------   ------------------------------------

----------------------------------   ------------------------------------
Hole ID       From  To Width Grade   Hole ID       From    To Width Grade
----------------------------------   ------------------------------------
KEDD483(i)     141 167    26  2.51   KERC529          5    21    16  0.87
----------------------------------   ------------------------------------
including(i)   162 163     1  53.2   KERC529         34    48    14  0.92
----------------------------------   ------------------------------------
KEDD483(i)     197 209    12  1.26   KEDD530         47    54     7     1
----------------------------------   ------------------------------------
KERC484        240 249     9  1.75   KEDD530(i)     254   309    55  2.22
----------------------------------   ------------------------------------
KEDD487(i)     303 326    23  3.37   including(i)   281   282     1  33.8
----------------------------------   ------------------------------------
including(i)   309 310     1  12.4   including(i)   300   301     1  29.9
----------------------------------   ------------------------------------
including(i) 315.3 316     1  22.7   KEDD531(i)     196   246    50   1.4
----------------------------------   ------------------------------------
including       85  86     1  15.1   including(i)   215   216     1  10.9
----------------------------------   ------------------------------------
KERC528          0  18    18  1.76   KEDD536(i)     275   301    26     1
----------------------------------   ------------------------------------
including        3   4     1  18.2   KEDD537(i)     192   220    28  1.48
----------------------------------   ------------------------------------
KERC528         62  75    13  0.58   including(i)   194   195     1  12.4
----------------------------------   ------------------------------------
KERC528         93  98     5  2.31   KEDD537        315   325    10  1.04
----------------------------------   ------------------------------------
KERC528        137 143     6   0.9
----------------------------------   ------------------------------------

/T/

President and CEO, Dan McCoy, states: "These new results provide continued evidence of the growth potential of the Esaase deposit. Keegan is currently designing a comprehensive infill and exploration drill program to follow up on a very successful 2008 drilling program. In addition, Keegan is in the process of completing  metallurgical tests as well as finalizing comprehensive engineering, environmental and community engagement programs for 2009 in order to rapidly advance the deposit through to pre-feasibility. The company is anticipating receiving the results of the next resource estimation based on the drilling in 2008 shortly."

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. Drill core is HQ diameter and is split logged and sampled on site. All core and RC samples are assayed using standard 50 gram fire assay with atomic absorption finish by Transworld Laboratories (GH) Ltd. in Tarkwa, Ghana, SGS Labs in Tarkwa, Ghana, or ALS Chemex Labs in Kumasi, 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 15 g/t Au x meter grade-thickness are not routinely reported. Mineralization in the A structure strikes approximately 10 to 30 degrees east of north and dips 45 to 90 degrees to the west. Holes are drilled at 110 degrees azimuth and are inclined at 45 to 60 degrees, 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 and on the NYSE Alternext US 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 map accompanying this release please click on the following link: http://media3.marketwire.com/docs/kgn_map_0218.pdf.
Keegan Resources Inc. Investor Relations (604) 683-8193 or Toll Free: 1-800-863-8655 (604) 683-8194 (FAX) Email: info@keeganresources.com Website: www.keeganresources.com
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