VANCOUVER, BRITISH COLUMBIA, May 28, 2008 (MARKET WIRE via COMTEX News Network) --
KeeganResources Inc. ("Keegan") (TSX VENTURE: KGN)(AMEX: KGN) is pleased toannounce the results of six new stepout drill holes drilled 260-380meters north of the Main Zone, which hosts Keegan's current 43-101compliant resource. Highlights include 24 meters of 2.64 g/t Au, 22meters of 2.63 g/t Au and 56 meters of 1.22 g/t Au. These are the firsttightly spaced wide bore holes placed along the north extension of theA fault. Holes 338-341 intercepted mineralization at relatively shallowdepths (34-117 meters hole depth). Conversely, drill holes 315 and 316encountered mineralization between 296 to 518 meters hole depth,suggesting hundreds of meters of down dip resource potential. Keeganplans to continue to aggressively test this structure along strike anddown dip in the near future. Please see www.keeganresources.com for adrill hole location map.
Table 1. Significant stepout hole intercepts from north extension zone
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Hole_ID From (m) To (m) Width (m) Grade (g/t)
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KEDD315 402 439 37 1.04
including 427 428 1 11.2
KEDD315 463 519 56 1.22
including 491 492 1 15.6
and 500.8 502 1.2 10.4
and 517 518.2 1.2 14.2
KEDD316 265 275 10 1.55
KEDD316 296 307 11 1.15
KEDD316 393 406 13 0.59
KEDD316 431 447 16 1.3
KERC338 28 48 20 2.75
including 31 32 1 11.95
and 46 47 1 12.2
KERC338 89 103 14 1.04
including 101 102 1 10.2
KERC339 53 63 10 0.75
KERC339 76 84 8 0.63
KERC339 160 165 5 1.13
KERC340 34 54 20 1.05
KERC340 70 88 18 0.91
KERC340 117 141 24 2.64
including 135 136 1 54.3
KERC341 55 77 22 2.63
including 63 64 1 36.81
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Presidentand CEO Dan McCoy states: "These drill hole results, which add hundredsof meters of strike length and down dip potential on the north end ofthe resource, provide additional evidence of the world class potentialof the Esaase gold system. We will be working hard to continue tostepout from known mineralization, to test new targets, and to continueour infill program in order to better define and delineate this growingresource."
Richard Haslinger, P. Eng. is the Qualified Personwith respect to NI 43-101 at Esaase. RC samples were taken at one meterintervals under dry drilling conditions by geologic and resource consultantRSG Global, Inc. utilizing drilling and sampling techniques widelyaccepted in resource definition studies of other West African golddeposits. All reverse circulation drill samples are weighed on site.All samples are using standard 50 gram fire assay with atomicabsorption finish by Transworld Laboratories (GH) Ltd. in Tarkwa, Ghanaor SGS Labs in Tarkwa, Ghana. QA/QC programs using internal andexternal standard samples, re-assays, and blanks indicate good accuracyand precision in a large majority of standards assayed. Intercepts werecalculated to emphasize width rather than grade: a minimum of a 0.2 g/tcut off at beginning and end of the intercept and allowing for no morethan six consecutive samples (six meters) of less than 0.2 g/t Au. Allinternal intercepts above 10 g/t Au are reported within the intercept.Intercepts of less than 5 meters or less than 0.5 g/t Au were notreported. Mineralization strikes approximately 30 degrees east of northand dips 45 to 60 degrees to the west. The drill holes are oriented at110 degrees azimuth and are inclined at 45 degrees to the east, so truewidths are estimated to be over 80% of the drilled widths.
AboutKeegan Resources: Keegan is a junior gold company offering investorsthe opportunity to share ownership in the rapid exploration anddevelopment of high quality, pure gold assets. The Company is focusedon its wholly owned flagship Esaase and Asumura gold projects locatedin Ghana, West Africa. Managed by highly skilled and successfultechnical and financialprofessionals, Keegan is well financed with no debt. Keegan is alsostrongly committed to the highest standards for environmentalmanagement, social responsibility, and health and safety for itsemployees and neighboring communities. Keegan trades on the TSX-VEN andon the AMEX under the symbol KGN. More information about Keegan isavailable www.keeganresources.com.
On Behalf of the Board
Dan McCoy, Ph.D., President & CEO
Thisrelease includes certain statements that may be deemed forward-lookingstatements. All statements in this release, other than statements ofhistorical facts, that address future production, reserve potential,exploration drilling, exploitation activities and events ordevelopments that the Company expects are forward-looking statements.Although the Company believes the expectations expressed in suchforward-looking statements are based on reasonable assumptions, suchstatements are not guarantees of future performance and actual resultsor developments may differ materially from those in the forward-lookingstatements. Factors that could cause actual results to differmaterially from those in forward-looking statements include marketprices, exploitation and exploration successes, continued availabilityof capital and financing, and general economic, market or businessconditions. Investors are cautioned that any such statements are notguarantees of future performance and those actual results ordevelopments may differ materially from those projected in theforward-looking statements. For more information on the Company,Investors should review the Company's filings that are available atwww.sedar.com.
To view the map accompanying this release please click on the following link: https://media3.marketwire.com/docs/kgn527map.pdf.
TheTSX Venture and AMEX Exchange have not reviewed and do not acceptresponsibility for the adequacy or the accuracy of this release.
Contacts: Keegan Resources Inc. Investor Relations (604) 683-8193Email: info@keeganresources.com Website: www.keeganresources.com
SOURCE: Keegan Resources Inc.
mailto:info@keeganresources.com https://www.keeganresources.com
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