Keegan Resources Inc.
TSX VENTURE : KGN

Keegan Resources Inc.

February 21, 2007 08:31 ET

Keegan Resources Inc.: Resource Drilling Program Yields Higher Gold Grades at Esaase Gold Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 21, 2007) - Keegan (TSX VENTURE:KGN) is pleased to release the results of its first 36 holes from the saprolite resource definition program from Esaase. These holes cover an area approximately 400 meters along strike by 300 meters width, and to depths of 100-135 meters (see www.keeganresources.com for a map showing drill hole locations). Significant intercepts were encountered in 31 of 36 holes. Highlights include 31 meters of 8.28 g/t Au, 65 meters of 1.03 g/t Au, 25 meters of 3.47 g/t Au, 37 meters of 2.93 g/t Au, 52 meters of 1.72 g/t Au, and 57 meters of 1.59 g/t Au.

The results show a wider distribution and higher gold grades than that indicated by the widely spaced fall 2006 core drilling program. The potential width of mineralization has not been constrained by the existing drill pattern and all of the multiple zones are open along strike in both a northeast and southwest direction. The zones are also open at depth. Keegan will use deeper RC drilling in concert with additional core drilling to test the deposit to depth.



Table 1. Gold Intercepts from Keegan's Esaase RC Program
---------------------------------- ----------------------------------
Au Au in
HOLEID From To Width (g/t) HOLEID From To Width g/t
---------------------------------- ----------------------------------
KERC001 No significant intercepts KERC019 32 46 14 1.72
---------------------------------- ----------------------------------
KERC002 75 107 32 1.01 KERC019 75 80 5 13.64
---------------------------------- ----------------------------------
KERC003 No significant intercepts KERC020 2 16 14 3.74
---------------------------------- ----------------------------------
KERC004 27 52 25 1.48 including 7 8 1 42.1
---------------------------------- ----------------------------------
including 31 32 1 11.68 KERC020 38 61 23 1.01
---------------------------------- ----------------------------------
KERC004 77 87 10 0.64 KERC020 70 105 35 1.78
---------------------------------- ----------------------------------
KERC004 95 126 31 8.28 KERC021 No significant intercepts
---------------------------------- ----------------------------------
including 115 117 2 113.29 KERC022 16 28 12 1.97
---------------------------------- ----------------------------------
KERC005 3 12 9 0.77 including 17 18 1 14.35
---------------------------------- ----------------------------------
KERC005 24 50 26 1.05 KERC022 85 86 1 27.20
---------------------------------- ----------------------------------
KERC005 55 120 65 1.03 KERC022 110 121 11 1.13
---------------------------------- ----------------------------------
KERC006 5 31 26 0.91 KERC023 7 19 12 0.70
---------------------------------- ----------------------------------
KERC006 37 54 17 2.89 KERC023 33 45 12 2.58
---------------------------------- ----------------------------------
KERC006 97 107 10 1.05 KERC023 83 84 1 14.28
---------------------------------- ----------------------------------
KERC007 32 44 12 0.64 KERC023 92 103 11 2.20
---------------------------------- ----------------------------------
KERC007 60 75 15 5.32 KERC024 40 92 52 1.72
---------------------------------- ----------------------------------
including 64 66 2 34.63 including 61 62 1 12.74
---------------------------------- ----------------------------------
KERC008 24 49 25 3.47 KERC025 45 46 1 33.25
---------------------------------- ----------------------------------
Including 30 31 1 20.89 KERC025 57 64 7 2.50
---------------------------------- ----------------------------------
and 36 37 1 10.37 KERC025 60 61 1 12.54
---------------------------------- ----------------------------------
and 46 47 1 20.90 KERC026 62 119 57 1.59
---------------------------------- ----------------------------------
KERC008 63 76 13 1.21 including 114 115 1 19.05
---------------------------------- ----------------------------------
KERC009 1 38 37 2.93 KERC027 6 45 39 1.04
---------------------------------- ----------------------------------
including 5 6 1 39.63 KERC027 92 98 6 5.28
---------------------------------- ----------------------------------
KERC009 14 15 1 10.58 KERC027 106 126 20 0.63
---------------------------------- ----------------------------------
KERC010 1 12 12 1.71 KERC028 76 92 16 1.28
---------------------------------- ----------------------------------
KERC010 46 47 1 14.74 KERC028 102 116 14 1.41
---------------------------------- ----------------------------------
KERC011 2 14 12 0.83 KERC029 61 68 7 0.87
---------------------------------- ----------------------------------
KERC012 5 16 11 1.17 KERC033 56 57 1 23.96
---------------------------------- ----------------------------------
KERC013 1 9 8 1.82 KERC034 40 107 67 1.09
---------------------------------- ----------------------------------
KERC014 1 21 20 1.43 KERC035 No significant intercepts
---------------------------------- ----------------------------------
KERC014 31 48 17 1.11 KERC036 1 19 18 2.02
---------------------------------- ----------------------------------
KERC015 1 9 8 2.49 KERC036 30 36 6 0.99
---------------------------------- ----------------------------------
KERC015 100 106 6 2.51 KERC036 91 102 11 1.17
---------------------------------- ----------------------------------
KERC016 0 33 33 2.07 KERC036 116 126 10 0.70
---------------------------------- ----------------------------------
including 17 18 1 12.81 KERC037 53 88 35 0.83
---------------------------------- ----------------------------------
KERC017 No significant intercepts KERC038 20 27 7 1.00
---------------------------------- ----------------------------------
KERC018 2 39 37 1.84 KERC039 80 85 5 1.89
---------------------------------- ----------------------------------


Dan McCoy, President and CEO of Keegan, states: "The larger sample size of the RC drilling and tighter drill spacing has generated results that significantly exceed those generated by our widely spaced core drilling program. We are very encouraged that the zone remains open in all directions."

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 drill 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. Intercepts were calculated using a minimum of a 0.3 g/t cut off at beginning and end of the intercept and allowing for no more than four consecutive samples (four meters) of less than 0.3 g/t within the intercept. All samples above 10 g/t Au are reported within the intercept. Intercepts of less than 5 meters or less than 0.5 grams per ton were not reported except when individual samples assayed greater than 10 g/t Au.

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 owns the right to earn 90% of its flagship Esaase and Asumura gold projects located in Ghana, West Africa. Managed by highly skilled and successful board members and advisors, Keegan efficiently executes its project development plans and 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 neighbouring communities. Keegan trades on the TSX-VEN under the symbol KGN. More information about Keegan is available at 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 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

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