Keegan Resources Inc.

Address:	1204 - 700 West Pender Street Vancouver, B.C. Canada V6C 1G8
Toll Free No.:	1-800-863-8655
Tel No.:	(604) 683-8193
Fax No.:	(604) 683-8194
Web Site:	www.keeganresources.com
Corporate Email:	info@keeganresources.com
Contact Person:	John Eren
Position:	Manager, Investor Relations

COMPANY DATA

Traded Market:	TSX-V
Traded Symbol:	KGN
Outstanding Shares:	16.6 Million
Public Float:	22.5 Million (Fully diluted)
52 Week High:	$ 3.70
52 Week Low:	$ 1.33
Present Price:	Click Here

INTRODUCTION

Keegan Resources Inc. is a junior gold exploration company based in Vancouver, Canada. Keegan's principal properties are located in Ghana, West Africa. The Asumura gold property is located 65 km south of the 17 M oz Ahafo deposit along one of Ghana's prolific gold belts and the Esaase gold property is located 13 km NE of the previously mined 3 M oz Obatan deposit. The Company also has exploration projects in Nevada, USA.

PROJECT IN HAND

GHANA, WEST AFRICA

Keegan considers Ghana to be one of the most prospective gold districts in the world due to both a dense accumulation of world class gold deposits and a favourable political-social-economic climate. The southwest area of the country has a 150 km radius area in which hosts five greater than 5 M oz deposits with a total gold budget (production and reserve) greater than 100 million ounces. Ghana is a peaceful democracy with a long standing tradition of gold mining predating colonial days. It has stable and secure land tenure and taxation policy.

(1) Esaase Project

The Esaase gold property is in the NE trending Asankrangwa belt in southwest Ghana, only 13 km NE of Resolute's mined 3 M oz Obotan deposit and 12 km SW of Ashanti-Bibiani's 200,000 ounce high grade Mpesetia deposit. The property is within a 100 km radius of Newmont's 17 M oz deposit and Anglo-Ashanti's 45 M oz deposit.

Previous operators of the Esaase concession have produced over 180,000 ounces of fine to coarse crystalline alluvial gold which they mined up small narrow tributaries to the apparent source.

Keegan has the right to earn 100% of the mining license on the concession over a three year period by making work expenditures of US$2.25 M, making cash payments of US$540,000 and awarding 780,000 Keegan shares.

Highlights of work done to date

Identified disseminated sediment hosted mineralized target with bulk mining potential
Completed trenches to date inside a 1,500 m soil geochemical anomaly which all ran ore grade gold including widths of up to 155 m
Identified a 1,500 m long Main Zone where current drilling is taking place with potential to host multi million ounces
Property is 10 km long by 5 km wide with several other targets favorable to host significant gold mineralization
Veins carried as much as 127 g/t gold but more importantly country rock between veins carried 0.5 - 1 g/t gold
The presence of underground adits resulted in the sampling which ranged between 1 - 10 g/t gold.

2007 Objectives

Complete 18,000 ft current drill program to delineate initial Esaase gold resource
Continue trenching, sampling and defining additional drill targets throughout the property
Advance engineering studies in order to plan efficient, low cost gold mining operations
Continue to earn social license through established community consultation program.

(2) Asumura Project

The Asumura project is a 210 sq.km gold concession which is located along Ghana's Sefwi greenstone belt, one of the country's three major deposit-hosting structures. The project is situated just 65 km south-west of Newmont's Ahafo gold mine (12.2 M oz reserve at 2.21 g/t Au; 22 M oz resource). The Asumura project is located within the same geologic belt and structures as Ahafo deposit. Like Ahafo, mineralization at Asumura is spatially associated with within belt granitoid stocks, dikes and sills. Keegan has an easy earn-in option to earn 100% of the exploration license at Asumura. A 3.5% NSR with an option to purchase half of NSR for US$2 M.

2006 Accomplishment

Identified two significant target areas:
Mangoase Target: +8 km strike defined by soil anomaly and phase 1 drilling
Bia Target: +10 km strike defined by aeromagnetic data.

Highlights of work done to date

Identified target of disseminated hosted mineralization with open pit potential
Identified targets hosted on major belt bounding structures continuing from Ahafo targets
The Bia River Target located on Sefwi greenstone belt flexure 65 km SW of Newmont's Ahafo deposit shows aeromagnetic data indicating the same fault that intersects Ahafo also intersects the Asumura Bia River Target
2006's drilling has confirmed the existence of significant gold structures.

2007 Objectives

Drill phase II at the Mangoase target
Drill phase I at the Bia River target
Further define additional untested targets throughout the property.

THE NEXT 12 MONTHS FOR KEEGAN

The next 12 months for Keegan will be very active on its Ghanaian properties as the Company delineates a gold resource at Esaase and continues drilling at Asumura. Once the initial drill program is completed at Esaase and the data is processed, Keegan will move the drills to the Asumura property and commence its second phase of drilling. Drilling will test the newly discovered faults and structures as seen in the Bia River target, in this phase Keegan will also follow up with the Mangoase target which has already demonstrated the potential to host a significant gold deposit.

The Company continues to assess and review prospective gold properties in West Africa and Nevada.

NEVADA, USA

Keegan considers Nevada to be one of the most prospective gold regions in the world due to its numerous world class gold belts hosting a plethora of different age and type gold deposits and a favorable political-social-economic climate. Nevada is the third largest gold producer in the world; producing approximately 85% of the gold produced within the entire United States. Nevada has strongly pro-mining policies as well as stable and secure land tenure and taxation policies.

(1) Regent Project

Keegan's Regent project is located within the northwest trending Walker Lane Metallogenic Belt which contains giant epithermal gold deposits such as Round Mountain (7 M ounces of gold production to date), and the historic Comstock Lode (8 M ounces of gold; 192 M ounces of silver produced), which was one of the earliest gold strikes in the western US. Regent occurs a mere 1.5 miles to the northwest of the Rawhide Mine, where Kennecott produced 1.4 M ounces of gold and over 10 M ounces of silver between 1990 and 2004.

Keegan first acquired the property in March of 2005, and evaluated the previous drilling, where Kennecott and Newmont had previously drilled over 30 holes containing intercepts of at least five feet with at least 5 g/t Au.

Keegan relogged chips, mapped the geology and developed drill targets.

Keegan drilled four holes in the fall of 2006 returning intercepts up to:
· 52 feet at 2.7 g/t Au including13.5 feet of 5.5 g/t Au;
· 3.7 feet of 12.6 g/t Au;
· 52 g/t Ag in hole R05-02 and 4.6 feet at 166 g/t Ag in hole R05-01.

(2) Black Velvet Project

Keegan's Black Velvet project is also an epithermal vein project, where previous operators obtained an intercept of 0.833 opt (28.7 g/t) Au over a drilled width of 30 feet. Together with Ghana, Nevada fits Keegan's profile of exploring in the most highly prospective gold belts with the lowest risk profiles.

MANAGEMENT

Keegan Resources Inc. has a well management team with experience in different areas.

Dr. Dan McCoy, Ph.D., CEO and President
Dr. McCoy obtained his Ph.D. at the University of Alaska and has worked extensively in the exploration sector for over 22 years. Dr. McCoy has a wealth of experience in Nevada, Alaska and Canada exploring for the most prominent type of gold deposits, including Carlin-type, intrusion-related, epithermal and Archaean greenstone systems. Most recently, Dr. McCoy was employed at Placer Dome where he co-coordinated acquisitions and field programs for Placer's Nevada generative exploration office. Dr. McCoy's experience is well suited to execute the Company's plan of focusing primarily on highly leveraged gold projects in prolific environments.

Richard J. Haslinger, P.Eng., Director
Mr. Haslinger received a Bachelor of Applied Science degree in Geological Engineering from the University of British Columbia in 1986 and is a registered professional engineer with over 20 years of experience in the mineral exploration industry. During the last 15 years Mr. Haslinger has managed numerous large, advanced stage exploration and deposit delineation projects at sites ranging from Alaska to South Africa to Tibet. In his role with Keegan he provides exploration guidance and drill program management.

Rob McLeod, P.Geo., Director
Mr. McLeod is the VP of Exploration and a director of Full Metal Minerals Ltd. He has over 12 years of experience in mining and exploration, working for a variety of major and junior mining companies. He was previously VP of Exploration for Atna Resources Ltd., where he helped assemble a premier portfolio of gold properties in Nevada. Mr. McLeod graduated from Queen's University's, Master's in Geology, Mineral Exploration Program in 1998.

Tony Ricci, CA, CFO and Director
Mr. Ricci is a Vancouver, B.C. based chartered accountant with over 18 years of experience, mainly with public companies listed on Canadian and U.S. stock exchanges. He is an expert in auditing procedures and in creating corporate subsidiaries in foreign countries.

Gordon J. Fretwell, LLB, Director
Mr. Fretwell holds a Bachelor of Commerce degree and graduated from the University of British Columbia in 1979 with a Bachelor of Law degree. Formerly a partner in a large Vancouver law firm, Mr. Fretwell has, since 1991, been a self-employed solicitor in Vancouver practicing primarily in the areas of corporate and securities law. He currently serves on the board or is an officer of several public companies engaged in mineral exploration including Bell Resources Corporation, Copper Ridge Exploration Inc., Continental Minerals Corporation, Rockwell Ventures Inc., Grandcru Resources Corp., Pine Valley Mining Corp., Quartz Mountain Resources Ltd., and Icon Industries Ltd.

The rest of management team include:

Dr. Roman Shklanka, Chief Technical Advisor
Eric Ewen, West Africa Exploration Specialist
Ivan Bebek, Corporate Finance
Shawn Wallace, Corporate Development

NEWS UPDATE

On February 27, 2007 Keegan Resources Inc. has released the results of 24 additional holes from the saprolite resource definition program at Esaase. The total area covered now is approximately 780 metres along strike by 300 metres width. Significant intercepts were encountered in 23 of 24 holes being released. Highlights include 30 metres of 8.64 grams per tonne Au, 43 metres of 1.72g/t Au, 66 metres of 1.19 g/t Au and seven metres of 22.56 g/t Au.

On February 21, 2007, Keegan Resources Inc. announced the results of its first 36 holes from the saprolite resource definition program from Esaase. These holes cover an area approximately 400 metres along strike by 30 metres width, and to depths of 100 to 135 metres. Significant intercepts were encountered in 31 of 36 holes. Highlights include 31 metres of 8.28 g/t Au, 65 metres of 1.03 g/t Au, 25 metres of 3.47 g/t Au, 37 metres of 2.93 g/t Au, 52 metres of 1.72 g/t Au and 57 metres of 1.59 g/t Au. The results show a wider distribution and higher gold grades than that indicated by the widely spaced fall 2006 core drilling program.

On February 20, 2007, Keegan Resources Inc. announced that the TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on January 25, 2007, and amended February 5, 2007.

Number of shares: 5,662,500
Purchase price: $2.75 per share.

On February 16, 2007, Keegan Resources Inc. announced that it has completed the recently announced financing (the "Offering") by placing 5,662,500 Units at a price of CDN$2.75 per Unit to a number of accredited and institutional investors.

Keegan also announced that Newmont Canada Limited, an affiliate of Newmont Mining Corporation, subscribed for 1 million Units under this Offering. After this Offering, on a fully diluted basis assuming all warrants are exercised, Newmont will own approximately 5% of the Company.

Net proceeds from the Offering will be used for exploration and drilling on Keegan's Esaase and Asumura gold projects located in Ghana and for general working capital.