Continues to Receive Excellent Results From the Esaase Resource

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Continues to Receive Excellent Results From the Esaase Resource

posted on Jan 14, 2009 02:45AM

January 14, 2009

Keegan Continues to Receive Excellent Results From Esaase Resource Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 14, 2009) - Keegan Resources Inc. ("Keegan") (TSX:KGN)(NYSE Alternext US:KGN) is pleased to announce results from the resource conversion program at its Esaase property. Highlights include 11 m @ 6.5 g/t Au, 18 m @ 2.77 g/t Au, 59 m @ 1.43 g/t Au, and 74 m @ 1.16 g/t Au. All infill drilling has returned intercepts with as good or better grade widths as the surrounding holes confirming good consistency to mineralization. Please see www.keeganresources.com for a drill hole location map.

Table 1: Intercepts at the Esaase property having a minimum grade-width of
         approximately 15 g/t Au x meter. Intercepts with grade-widths of
         approximately 40 g/t Au x meter or higher are marked with (i).
         Distances are drilled in meters and grades reported in g/t Au.

------------------------------------  ------------------------------------
Hole ID      From    To Width  Grade  Hole ID      From    To Width  Grade
------------------------------------  ------------------------------------
KERC502         8    32    24   1.03  KEDD508        13    22     9   1.11
------------------------------------  ------------------------------------
KERC503         5    27    22   0.84  KEDD508        79    89    10   0.61
------------------------------------  ------------------------------------
KERC503        50    57     7   0.82  KEDD508        96   109    13   0.91
------------------------------------  ------------------------------------
KERC503        67    89    22   0.61  KEDD508       153   158     5   1.34
------------------------------------  ------------------------------------
KERC503       103   108     5   0.83  KEDD509       140   154    14   0.81
------------------------------------  ------------------------------------
KERC503       123   137    14   0.68  KEDD509       165   190    25    1.2
------------------------------------  ------------------------------------
KERC503(i)    156   178    22   1.75  KEDD509(i)      1    12    11   6.55
------------------------------------  ------------------------------------
including(i)  156   157     1  14.55  including(i)    4     5     1   49.1
------------------------------------  ------------------------------------
KERC504        18    29    11   0.83  KERC512(i)      0    59    59   1.43
------------------------------------  ------------------------------------
KERC504(i)     68   102    34   1.63  including(i)    7     8     1  19.05
------------------------------------  ------------------------------------
including(i)   83    84     1   42.2  KERC513         0    54    54   0.75
------------------------------------  ------------------------------------
KERC504       123   133    10   0.92  KEDD517       142   165    23   0.82
------------------------------------  ------------------------------------
KERC504       142   152    10   1.09  KEDD518       107   116     9   1.07
------------------------------------  ------------------------------------
KERC505       119   139    20   0.79  KEDD518     246.2   256   9.8   1.45
------------------------------------  ------------------------------------
KERC506(i)    125   152    27    1.2  including   247.2 248.2     1   11.8
------------------------------------  ------------------------------------
including(i)  151   152     1   14.7  KEDD518       283   294    11   1.16
------------------------------------  ------------------------------------
KERC506       181   192    11   0.92  KEDD518(i)    325   399    74   1.16
------------------------------------  ------------------------------------
KERC506       223   232     9      1  including(i)  378   379     1   38.7
------------------------------------  ------------------------------------
KEDD507        72    98    26   0.64  KERC519(i)    109   127    18   2.77
------------------------------------  ------------------------------------
KEDD507       107   120    13   0.79  including(i)  119   120     1   28.4
------------------------------------  ------------------------------------

President and CEO, Dan McCoy, states: "We are pleased to see the strength and continuity of mineralization at Esaase and look forward to receiving the new resource estimate that these results will positively contribute to in the near future."

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 reverse circulation drill samples are weighed on site. Drill core is HQ diameter and is split logged and sampled on site. All core and RC samples are assayed using standard 50 gram fire assay with atomic absorption finish by Transworld Laboratories (GH) Ltd. in Tarkwa, Ghana, SGS Labs in Tarkwa, Ghana, or ALS Chemex Labs in Kumasi, Ghana. QA/QC programs using internal and external standard samples, re-assays, and blanks indicate good accuracy and precision in a large majority of standards assayed. Repeatability in duplicate samples is generally within 10% variance. In instances where variance is greater than 10%, the assays from both samples are averaged. Intercepts were calculated to emphasize width rather than grade: a minimum of a 0.2 g/t cut off at beginning and end of the intercept and allowing for no more than six consecutive samples (six meters) of less than 0.2 g/t Au. All internal intercepts above 10 g/t Au are reported within the intercept. Intercepts of less than 15 g/t Au x meter grade-thickness are not routinely reported. Mineralization in the A structure strikes approximately 10 to 30 degrees east of north and dips 45 to 90 degrees to the west. Holes are drilled at 110 degrees azimuth and are inclined at 45 to 60 degrees, so true widths are estimated to be over 80% of the drilled widths.

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 is focused on its wholly owned flagship Esaase and Asumura gold projects located in Ghana, West Africa. Managed by highly skilled and successful technical and financial professionals, Keegan 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 neighboring communities. Keegan trades on the TSX and on the NYSE Alternext US under the symbol KGN. More information about Keegan is available www.keeganresources.com.

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