Key Gold Holding Inc.

Key Gold Holding Inc.

December 23, 2010 07:56 ET

Key Gold Holding Inc.: Confirmation of NI-43-101 Report on Lac Musset Copper Property

QUEBEC CITY, CANADA--(Marketwire - Dec. 23, 2010) - Key Gold Holding Inc. (the "Company") (TSX VENTURE:KGH) hereby announces that on December 20th, 2010, the TSX Venture Exchange (the "Exchange") confirmed that the NI-43-101 Report on the Lac Musset Copper Property (the "Property") complied with the Exchange's Mining Standards Guidelines for disclosure for Mineral Projects.

Furthermore, Mr. Lessard commented following receipt of the confirmation by the Exchange on the NI-43-101 Report on the Property: "for the past year, prices of copper have risen nearly 26%, building upon a staggering 140% increase in 2009, stating an article in the Globe and Mail from Chris Kelly and Michael Taylor December 21st, 2010. Resurgence of worldwide demand for this industrial metal (namely in China) is very good news

Flow-Through Financing

The Company also wishes to disclose that it intends to complete a non-brokered private placement of no less that 500,000$ consisting of flow-through shares in order to make exploration expenditures on the Property.

About Key Gold Holding Inc.

Key Gold Holding Inc. is a junior mining exploration company listed on the TSX Venture Exchange whose mission, among others, is to invest in small-scale gold production projects and to provide expertise in financial and mining engineering with the objective of maximizing return on investments and shareholders' value.

Forward looking Statement:

This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward looking statements.

Shares outstanding : 18,360,574

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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