Keegan Resources Inc.
TSX VENTURE : KGN

Keegan Resources Inc.

November 14, 2006 09:01 ET

Keegan Trenches 35 Meters of 3.05 g/t Gold at Esaase Property, Ghana

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 14, 2006) - Keegan (TSX VENTURE:KGN) is pleased to announce results from two new trenches from its bedrock trenching program at the Esaase Gold property, located in southwest Ghana. The most significant new intercept is 35 meters of 3.05 g/t Au in Trench 9550 (see table 1). This intercept is 55 meters north of a previously announced trench intercept of 20 meters of 4.25 g/t Au and is 150 meters north of the 155 meters of 1.08 g/t (including 75m of 1.65 g/t) announced October 26th.

Dan McCoy, President and CEO of Keegan Resources, states: "We are pleased to see some continuity of both grade and width developing within the Main Zone target area. We are currently core drilling beneath these trenches to test the development of the zone at depth."

Table 1: New Trench Results greater than 1 g/t Au from Keegan's Main Zone (Trench results are composites of 5 meter samples; coordinates in WGS84, Zone 30; Easting and Northing approximate from middle of the intercept).



-----------------------------------------------------------------
From To Width Grade
Location Easting Northing (m) (m) (m) (g/t Au)
-----------------------------------------------------------------
9550 Trench 621577 724887 25 60 35 3.05
-----------------------------------------------------------------
including 621588 724880 55 60 5 12.75
-----------------------------------------------------------------
9600 Trench 621426 725061 25 30 5 28.62
-----------------------------------------------------------------


Keegan is currently on its sixth core hole at the Main Zone, with five holes already submitted to the lab for assay. Drill results will be released when available.

Keegan is also continuing to develop new drill targets on the property outside the Main Zone. Keegan recently received assays of 1.2 meters of 17.48 g/t gold from an outcrop channel sample in a New Zone (see NR dated October 18th for description and location of new zone as well as previous samples.) Keegan has also recently received additional soils that, compiled together with previous soils, delineate two additional km scale 250 ppb gold-in-soil anomalies. One is centered 3 km north-northeast from the Main Zone of drilling; the other is 3 km east-northeast of the main zone of drilling. Work aimed at developing drill targets in these areas is ongoing.

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. Please see www.keeganresources.com (current trench and soil maps will be updated shortly).

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, 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.

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

Contact Information