News Release

Keegan Resources Inc. To Trade On Toronto Stock Exchange

December 18, 2008

Keegan Resources Inc. (the “Company”) – An application has been granted for the original listing in the Mining category of 37,015,713 common shares of the Company, of which 28,440,648 common shares are issued and outstanding, and 8,575,065 common shares are reserved for issuance.

The common shares of the Company will be listed and posted for trading at the opening on Monday, December 22, 2008.

The Company is subject to the reporting requirements of Section 501 of the TSX Company Manual.

Stock Symbol: “KGN”
CUSIP: 487275 10 9
Trading Currency: CDN

Designated Market Maker:               Jones, Gable & Company Limited
     
Other Markets:     The common shares of the Company have been listed on TSX Venture Exchange since June 25, 2001, and on NYSE Alternext since January 2, 2008. The common shares will be delisted from TSX Venture Exchange on December 22, 2008, upon commencement of trading on TSX.

Head Office Address:     600 - 1199 West Hastings Street
Vancouver, BC
V6C 3T5
                              
Email Address:     info@keeganresources.com

Website:     www.keeganresources.com

Head Office Telephone Number:          (604) 683-8193

Fax Number:     (604) 683-8194

Toll Free:     1-800-863-8655

Investors Relations:     O-M Partners LLC
Tel: (212) 209-3949
Email: clariza@otis-mandy.com

John Eren
Tel: (604) 683-8193
Email: john@keeganresources.com

Chief Financial Officer:     Tony Ricci
     
Corporate Secretary:     Michael Bebek
     
Incorporation:     The Company was incorporated under the provisions of the Company Act (British Columbia) on September 23, 1999 as Quicksilver Ventures Inc., a capital pool company completing it’s IPO on TSX Venture Exchange on June 25, 2001. The Company completed a qualifying transaction in January, 2005 and changed its name to Keegan Resources Inc. on March 1, 2005.

Fiscal Year End:     March 31

Nature of Business:     The Company is a mineral exploration company focused on exploring and developing two gold properties in Ghana, West Africa; the Esaase Gold Property and the Asumura Gold Property.

Transfer Agent & Registrar:      Computershare Investor Services Inc. at its principal offices in Vancouver and Toronto.

Dividends:     The Company has not paid any dividends or made any distributions since incorporation. The Company does not anticipate paying dividends in the foreseeable future.