Key Gold Holding Inc.

Key Gold Holding Inc.

March 08, 2011 16:25 ET

Key Gold Holding Appoints Graham Warren as CFO and Grants Options

QUEBEC CITY, QUEBEC--(Marketwire - March 8, 2011) - Key Gold Holding Inc. (TSX VENTURE:KGH) is pleased to announce the appointment of Mr. Graham Warren to the positions of Chief Financial Officer, Corporate Secretary and Director of the Corporation effective immediately. The appointment is subject to TSX-V approval.

Mr. Warren is a senior financial executive with over 25 years of experience with emerging companies in the oil and gas, mining, environmental, biotech and software sectors. He has extensive operations, international business, corporate finance and public market experience. Mr. Warren has served as Chief Financial Officer and Director of several public issuers. He holds a B.Comm. degree from Concordia University and a C.M.A. designation from the Society of Management Accountants.

"We welcome Graham to our senior executive team. His appointment as CFO is another important step in positioning Key Gold for success," said Louis Lessard, President and Chief Executive Officer. "He brings the experience, leadership and appropriate financial discipline necessary to recognize and capitalize on future opportunities, as well as providing significant experience with the financial community".

The Board of Directors of Key Gold will now comprise Mr. Louis Lessard, Chairman, President and Chief Executive Officer, Mr. Graham Warren, CFO and Corporate Secretary, Mr. Robert Séguin, Mr. Claude St-Hilaire and Mr. Rick G. Bonner.

In other news, the Corporation also announces that the Board of Directors has approved the cancellation of an aggregate 400,000 stock options which were exercisable at $0.21 per share, until January 31, 2016. Concurrently with the cancellation, the Corporation has granted 900,000 stock options to Officers, Directors and a Consultant of the Corporation. Each option entitles the holder to purchase one common share of the Corporation at a price of $0.34 per share for a period of five years.

About Key Gold Holding Inc.

Key Gold Holding Inc. is a mineral exploration company that is mainly focused on the acquisition, exploration and development of gold and copper properties.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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