Keegan Resources Inc.
TSX VENTURE : KGN

Keegan Resources Inc.

July 20, 2005 12:25 ET

Keegan Resources Inc.: Drilling Commences at Horse Mountain Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 20, 2005) - Keegan Resources Inc. (TSX VENTURE:KGN) is pleased to announce that core drilling has commenced at the Horse Mountain property in Nevada. The Horse Mountain Project is a JV with Barrick Gold Corp. (NYSE:ABX; TSX: ABX:TO) and Anaconda Gold Corp. (ANX.V). Keegan started drilling its deep hole testing the intersection of the altered and mineralized Rock Creek Fault with the projected lower plate carbonate host rocks.

Dan McCoy, President, and CEO of Keegan, states, "The start of drilling at Horse signals a very busy time for us on our properties. Over the next few months we will be drill testing our three exciting Nevada gold projects on which our geological team has worked very hard during the last year to develop high quality drill targets to maximize the use of exploration capital."

About Keegan Resources

With a primary focus on the United States and Canada, Keegan's seasoned exploration and management team have leveraged their collective experience and networks of contacts to efficiently assess, acquire and explore high quality 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.

The Keegan team was assembled in late 2004 drawing talent from diverse backgrounds all sharing the vision of discovering and developing leveraged mineral assets in the world's most prolific mining jurisdictions.

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.

TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of this news release.

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