Keegan Resources Inc.

Keegan Resources Inc.

December 13, 2006 08:30 ET

Keegan Resources Inc.: Esaase Drill Program Confirms Gold Mineralization Over 1 km Strike Length

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 13, 2006) - Keegan (TSX VENTURE:KGN) is pleased to announce it has received assays from seven new core holes from its ongoing drilling program at the Esaase Gold Property located in southwest Ghana. All but one of the holes intercepted wide zones of disseminated stockwork vein style mineralization effectively extending the mineralized zone to over 1 km in total drilled strike length, which remains open in both directions. Highlights include Hole 7, which intercepted separate zones of 10 meters 4.01 of g/t Au and 34 meters of 2.17 g/t Au. Please see for a drill map.

Dan McCoy, President and CEO of Keegan Resources states: "These results continue to confirm the extensive strike length of bulk mineable style mineralization at our Esaase project. The continued consistency of the results with the surface trenching program and the fact that the gold mineralization has been encountered both above and below the saprolite indicates that we very likely are on our way to delineating a significant gold deposit. We are very excited about the prospect of delineating a resource in 2007 and are arranging additional drills to advance the planned programs at Esaase for 2007."

Table 1: New Drill Results from Keegan's Esaase Property

Hole # From (m) To (m) Width (m) Grade (g/t)
KE6005C 152 176 24 1.57

KE6006C 53 55 2 2.28
KE6006C 139 155 16 0.9
KE6006C 235 285 50 0.78
including 239 259 20 1

KE6007C 79 89 10 4.01
including 85 87 2 14.1
KE6007C 131 165 34 2.17
including 145 165 20 3.23
including 157 165 8 4.59

KE6008C 99 117 18 1.02
including 111 115 4 2.57
KE6008C 135 139 4 1.32
KE6008C 191 193 2 3.99

KE6009C 153 155 2 3.85
KE6009C 295 307 12 1.09

KE6010C no significant intercepts

KE6011C 3.5 9 5.5 0.9
KE6011C 67 97 30 0.59
KE6011C 149 151 2 3.45
KE6011C 165 175 10 0.53
KE6011C 309 315 6 7.28
including 309 311 2 20.55

The drill program has now paused for 2006 with 14 holes completed covering a strike of 1.4 km. The trenching and soil programs will persist for an additional week at which time the project will suspend operations to observe the holiday season Work will resume in January 2007 and plans to complete the first phase of approximately 30 holes by March 07 are on schedule and budget.

Richard Haslinger, P. Eng. is the Qualified Person with respect to NI 43-101 at Esaase. All rock samples are assayed using standard fire assay with atomic absorption finish by Transworld Laboratories (GH) Ltd., Tarkwa, Ghana. QA/QC programs using internal and external standard samples, reassays, and blanks indicate good accuracy and precision to the assays. Keegan will be adding a drill hole plan map to within the coming week.

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 and 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

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