Key Gold Holding Inc.

Key Gold Holding Inc.

September 22, 2011 14:45 ET

Key Gold Holding Corporate Update

QUEBEC CITY, CANADA--(Marketwire - Sept. 22, 2011) - Key Gold Holding Inc. (TSX VENTURE:KGH) is pleased to announce that the Board of Directors has appointed Mr. Roger Rosmus as Director and member of the audit committee to fill the vacancies caused by Mr. Claude St-Hilaire's resignation.

Mr. Rosmus is a co-founder and President of the Toronto based investment bank Aberdeen Gould Capital Markets Ltd., an Exempt Market Dealer registered in the Provinces of Alberta, British Columbia, Ontario, Saskatchewan and Quebec, and has over 15 years of investment banking experience in the public and private sectors, and has acted as lead on many mergers, acquisitions and corporate financings in a wide variety of industries. Mr. Rosmus has co-owned and managed a number of successful businesses in Canada. He holds an MBA from The University of Western Ontario - Richard Ivey School of Business. He recently lead an oversubscribed financing for Nevado Resources Inc., and his firm has provided financing services to other resource clients including among others: Auriga Gold Corp., Champion Minerals Inc., Goldstrike Resources Ltd., Lachlan Star Limited, and Petro One Energy Corp.

The Corporation thanks Mr. St-Hilaire for his significant contributions to the Corporation as a Director. Mr. St-Hilaire will remain active in the affairs of the Corporation as consultant. Mr. Rosmus nomination is subject to regulatory approval.

In other news, the Corporation announces that the Board of Directors has approved the cancellation of an aggregate 4,150,000 (pre-consolidation, i.e., 415,000 following the 2010 consolidation) stock options and 28,998 common shares following a review by TSX Venture Exchange of certain grants of options at an exercise price below $0.10 made in 2008 and 2009.

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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