🕐30.01.12 - 15:00 Uhr
KEEGAN APPOINTS SHAWN WALLACE AS CEO
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Re: News Release - Monday, January 30, 2012
Keegan Appoints Shawn Wallace as CEO
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Vancouver, British Columbia, January 30th, 2012: Keegan Resources Inc.
("Keegan" or the "Company") NYSE AMEX: TSX: KGN announces that director
Shawn Wallace, has been appointed Chief Executive Officer ("CEO") of
the company effective immediately to replace Maurice Tagami who is
stepping down as President, CEO and director for personal reasons.
Mr.
Wallace is an experienced mining executive who has been involved in the
leadership of the Company since its inception.
Mr.
Wallace commented upon his appointment by saying: "On behalf of the
Board and Shareholders I would like to acknowledge and thank Mr.
Tagami
for his contributions to Keegan during his tenure.
The Company is well
financed with $205 million in cash and no debt.
Our objective now will
be to focus on prudent deployment of this capital where it will
maximize shareholder value.
Keegans management team is continuing its
work to better understand and enhance the value of the multi-million
ounce Esaase Gold Project through ongoing engineering, expansion
drilling and strategic acquisitions."
On Behalf of the Board of Directors,
Shawn Wallace
Chief Executive Officer, Director
About Keegan Resources Inc.
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 exploration and
development at its wholly owned flagship Esaase Gold Project (3.64
million ounce measured and indicated and 1.55 million ounces inferred
resource averaging 1.1 grams per tonne gold at a cutoff grade of 0.4
grams per tonne for a total inferred and indicated resource of 5.19
Moz) located in Ghana, West Africa, a highly favourable and prospective
jurisdiction.
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 neighbouring communities.
Keegan trades on the TSX and
the NYSE AMEX under the symbol KGN.
More information about Keegan is
available at www.keeganresources.com.
Forward Looking and other Cautionary Information
This release includes certain statements that may be deemed
"forward-looking statements".
All statements in this release, other
than statements of historical facts, that address estimated resource
quantities, grades and contained metals, possible future mining,
exploration and development activities, are forward-looking
statements.
In particular, Preliminary Economic Assessments are
preliminary in nature, including Inferred Mineral Resources that are
considered too speculative geologically to have the economic
considerations applied to them that would enable them to be categorized
as Mineral Reserves, and there is no certainty that the findings of the
Preliminary Assessment will be realized.
Although the Company believes
the expectations expressed in the Preliminary Economic Assessment and
other forward-looking statements are based on reasonable assumptions,
such statements should not be in any way construed as guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements.
Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices for metals, the
conclusions of detailed feasibility and technical analyses, lower than
expected grades and quantities of resources, mining rates and recovery
rates and the lack of availability of necessary capital, which may not
be available to the Company on terms acceptable to it or at all.
The
Company is subject to the specific risks inherent in the mining
business as well as general economic and business conditions.
For more
information on the Company, Investors should review the Companys
annual Form 20-F filing with the United States Securities Commission
and its home jurisdiction filings that are available at www.sedar.com.
Information Concerning Estimates of Measured, Indicated and Inferred
Resources
This news release also uses the terms, "measured resources", indicated
resources and inferred resources.
Keegan Resources Inc.
advises
investors that although these terms are recognized and required by
Canadian regulations (under National Instrument 43-101 Standards of
Disclosure for Mineral Projects), the U.S.
Securities and Exchange
Commission (SEC) does not recognize them.
Investors are cautioned not
to assume that any part or all of the mineral deposits in these
categories will ever be converted into reserves as defined by SEC
standards.
In addition, inferred resources have a great amount of
uncertainty as to their existence, and economic and legal feasibility.
It cannot be assumed that all or any part of an Inferred Mineral
Resource will ever be upgraded to a higher category.
Under Canadian
rules, estimates of Inferred Mineral Resources may not form the basis
of feasibility or pre-feasibility studies, or economic studies except
for Preliminary Assessment as defined under 43-101.
Investors are
cautioned not to assume that part or all of an inferred resource
exists, or is economically or legally mineable.
Neither TSX Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
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Copyright (c) 2012 KEEGAN RESOURCES INC.
(VEN) All rights reserved.
For more information visit our website at
http://www.keeganresources.com/ or send mailto:
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