Keegan Resources Inc.
TSX VENTURE : KGN

Keegan Resources Inc.

January 17, 2007 09:01 ET

Keegan Defines Trenched Gold Zone Over 2 Kilometers at Esaase

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 17, 2007) - Keegan (TSX VENTURE:KGN) is pleased to announce recent results from its bedrock trenching program at the Esaase Gold property located in southwest Ghana. The most significant new intercept, 50 meters @ 1.26 g/t Au, comes from a trench located over 500 meters southeast from previously released trench and drill results. This extends the strike length of the mineralized system to over 2 km where it is still open to both north and south and at depth. Please see www.keeganresources.com for maps.

The comprehensive 2007 Esaase program continues with two excavators assigned to trenching and with two drill rigs to the previously announced infill and exploration drill programs.

Table 1: New Trench Results greater than 1 g/t Au from Keegan's Esaase Property



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Location From (m) To (m) Width (m) Grade (g/t Au)
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7800 Trench 35 40 5 1.37
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8200 Trench B 100 150 50 1.26
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8200 Trench C 80 95 15 1.59
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10200 Trench 25 30 5 4.11
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10800 Trench B 5 10 5 1.39
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Richard Haslinger is the Qualified Person with respect to NI 43-101 at Esaase. All trench intercepts released are from 5 meter channel samples designed, as much as topography allows, to go across the strike of the mineralized faults. Trenches are assayed using standard fire assay with atomic absorption finish by Transworld Laboratories (GH) Ltd., Tarkwa, Ghana. QA/QC program using internal and external standards and duplicates and internal blanks is employed.

About Keegan Resources

With a primary focus on established gold districts located in stable political environments, Keegan's seasoned exploration and management team have leveraged their collective experience and networks of contacts to efficiently assess, acquire and explore high quality, mid stage, precious and base metal projects. With two active exploration programs in Ghana combined with an enviable capital structure the company is well positioned to deliver an active, exciting year for its investors.

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 that 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.

Contact Information

  • Keegan Resources Inc.
    Dan McCoy
    President & CEO
    (604) 683-8193 or Toll Free: 1-800-863-8655
    or
    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