Keegan Resources Inc.
NYSE Alternext US : KGN
TSX : KGN

Keegan Resources Inc.

February 18, 2009 15:14 ET

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

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.



----------------------------------- ------------------------------------
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
---------------------------------- ------------------------------------


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.

The TSX and NYSE Alternext US Exchange have not reviewed and do not accept responsibility for the adequacy or the accuracy of this release.

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