Keegan Resources Inc.
TSX VENTURE : KGN
AMEX : KGN

Keegan Resources Inc.

February 28, 2008 08:30 ET

Keegan Discovers Up to 4900 ppb Gold in Augur Sample at Asumura Property Northwest Structure; Drill Program to Commence in March

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2008) - Keegan (the "company") (TSX VENTURE:KGN)(AMEX:KGN) is pleased to release the results of 322 augur holes from the mineralized NW structure at Asumura, which covers approximately 4 km of the 5.5 km long NE oriented coincident gold-in-soil and aeromagnetic geophysical anomaly (please see NR dated July 20, 2007 for description of this anomaly). The results of the augur sampling refine the target by showing several parallel, en echelon style NNE zones with significant gold values. The largest of these zones is over 2 km long and up to 320 meters wide of greater than 50 ppb Au and contains saprolite values as high as 3420 ppb Au. A 260 meter wide parallel zone to the west has values up to 4911 ppb Au and 1558 ppb Au. The samples obtained by the augur are taken from in-place saprolite. Keegan has been able to use the augur chips together with the magnetic signature to create a geologic map of the area. The anomalous areas appear to be underlain by a regionally significant northeast trending structure. Please see www.keeganresources.com for a map showing the geology and gold geochemistry of the NW zone.

Keegan plans to conduct an initial 2 month drill program at the Asumura project starting in March to drill test both the NW anomaly and the Bia targets. The Asumura project currently hosts mineralized structures now measuring in excess of 40km in strike. Multiple programs will be undertaken in the next 12 months to test the full extent of the properties potential.

Dan McCoy, President and CEO of Keegan, states: "We are very pleased with these augur results, which upgrade the northwest drill target from both a geochemical and geological perspective. We look forward to drilling all the initial Asumura targets in March."

All augur samples are assayed using BLEG analysis on a one kg sample by Transworld Laboratories (GH) Ltd., Tarkwa, Ghana and QA/QC was ensured by good repeatability from external standards. Augur samples are taken at one meter intervals down each augur hole and are logged according to regolith as alluvium, colluvium, soil, saprolite or some combination. Only saprolite samples are discussed in this news release and presented in the accompanying map at www.keeganresources.com. Vincent Dzakpasu, a qualified member of the Institute of Mining and Metallurgy in the United Kingdom is Keegan's QP on the property.

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 map accompanying this press release please click on the following link: http://media3.marketwire.com/docs/kgn0228.pdf.

The TSX Venture and AMEX Exchange have not reviewed and do not accept responsibility for the adequacy or the accuracy of this release.

Contact Information