Keegan Resources Inc.
TSX VENTURE : KGN

Keegan Resources Inc.

August 22, 2006 13:50 ET

Keegan Extends Gold-in-Soil Trend Anomally to 9 km on Esaase Gold Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 22, 2006) - Keegan (TSX VENTURE:KGN) is pleased to update progress on its soil geochemical program from its Esaase gold property located in southwest Ghana. Keegan has received soil results back from almost 2340 soil samples to date. The latest results clearly show that the 3 km long 2.5 km wide anomaly is part of a larger trend of soil enrichment now totaling 9 km in length and averaging 2 km in width. The new gold in-soil trend consists of multiple, generally northeast trending anomalies at the 50 ppb, 100 ppb, and 250 ppb levels (please see map at www.keeganresources.com).

Dan McCoy, president and CEO of Keegan Resources states: "We are very excited to see size and consistency in the gold system outlined by the enriched residual soils. The early stage work on the property continues to demonstrate impressive results. We expect to release additional soil, rock, trenching and geophysical results in the near term all with a goal of defining additional drill targets to test during the fall program."

Richard Haslinger, P. Eng. is the Qualified Person with respect to NI 43-101 at Esaase. All soils are assayed using BLEG technique and all rocks are assayed by fire assay with atomic absorption finish. Assay analysis is conducted by Transworld Laboratories, Tarkwa, Ghana. Please see www.keeganresources.com for maps and property summaries.

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 active exploration programs in Nevada and 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