Keegan Announces Further Strengthening of Technical Team as It
Prepares for Development of the Esaase Gold Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/31/12 -- Keegan
Resources Inc. (TSX:KGN)(NYSE MKT:KGN)(NYSE Amex:KGN) -
-- Appointment of three additional highly experienced personnel compliments
the recently announced recruitment of accomplished CEO and COO and the
skilled team already in place at Keegan.
-- New personnel have many years of project development and operational
management experience in Africa.
-- Appointments further de-risk the project as the Company proceeds with
completion of engineering studies and progresses towards construction
Keegan Resources Inc. ("Keegan" or the "Company") is pleased to
announce the recruitment of three additional technical staff members
in preparation for the development of Keegan's Esaase Gold Project in
On October 15, 2012 Keegan announced the appointments of Peter Breese
as President and Chief Executive Officer and Tony Devlin as Chief
Operating Officer of the Company. Keegan also advised that along with
these appointments would come a multidisciplinary technical team
that, together with the already established Ghanaian team, has the
expertise necessary to execute the various phases of the project.
Keegan is pleased to announce that Mr. Hugo Truter, Mr. Ed Munnik and
Mr. Fausto Di Trapani will join the Company's Project Development
Hugo Truter will join the Company as General Manager - Projects. He
has over 25 years project and operational management experience in
Africa. He is the former Manager - Engineering for Mantra Resources
in Tanzania and former Head of Engineering at Tati Nickel in
Botswana. His previous work experience spans across base metals,
gold, platinum and diamonds. Hugo was notably Project Manager for one
of the world's largest DMS plants constructed at Tati. Hugo also
served in the capacity of Acting General Manager at Tati Nickel for a
number of years.
Ed Munnik joins the Company as Manager - Metallurgy. He also has in
excess of 25 years of project and operational management experience.
He is the former Manager - Metallurgy for Mantra Resources in
Tanzania and the former Metallurgical Executive for LionOre in
Africa. Ed worked for the Anglovaal group for 22 years, a period that
included a role as Project Director and later COO of Chambishi Metals
in Zambia. He has worked in the gold, base metals and uranium
Fausto Di Trapani takes up employment as Financial Controller for
Africa. He is a Chartered Accountant with extensive financial
reporting, structuring and project accounting experience in large,
multinational mining groups. He is the former Financial Controller
for Mantra Resources. Previously he was Senior Financial Manager for
Norilsk Nickel International and Financial Manager at BHP Billiton
Energy Coal division.
The project team will work closely with the established Ghanaian team
led, by Managing Director, Dr. Ben Adoo.
Ben, a Camborne School of Mines trained mining engineer, has almost
four decades of gold and bauxite mining experience in Ghana. He was
former Managing Director, Ghana Bauxite Co. Ltd., a subsidiary of
Alcan Inc., and former General Manager of Prestea, Tarkwa and Dunkwa
Goldfields in Ghana. He is a past President and Honorary Member of
Council of the Ghana Chamber of Mines. His proven expertise and
demonstrated track record in Ghana will add tremendous knowledge to
the Company as we progress through the various project execution
Peter Breese, Keegan's CEO said, "These new recruitments are an
integral part of the ongoing process of building the capability
within Keegan to drive our transition from explorer to developer and
ultimately producer. Their skills will greatly enhance the already
established skills base within Keegan. Hugo, Ed and Fausto have
extensive and proven project and operational management experience
within the resources industry in Africa. Most importantly both Hugo
and Ed have operated the plants that they have built which brings the
attention to detail and accountability that we consider critical for
successful mine development of the project."
On behalf of the Board of Directors,
Peter Breese, President & Chief Executive Officer
About Keegan Resources Inc.
Keegan is a gold development company focussing on near term gold
production at its high grade multi-million ounce Esaase gold project
in Ghana. The Company offers investors the opportunity to share
ownership in the rapid exploration and development of high quality
pure gold assets. Keegan is focused on its wholly owned flagship
Esaase gold project (3.83 million ounces of gold in the Measured and
Indicated category with an average grade of 1.73 g/t Au and 1.25
million ounces of gold in the Inferred category at an average grade
of 1.75 g/t Au, based on a 0.8 g/t Au cut-off) 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. The Company is also strongly
committed to the highest standards for environmental management,
social responsibility, and health and safety for its employees and
Keegan trades on the TSX and the NYSE MKT under the symbol KGN.
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. Although the Company believes the 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 Company's annual Form 20-F filing with the United States
Securities Commission and its home jurisdiction filings that are
available at www.sedar.com.
Neither Toronto Stock Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
Keegan Resources Inc.
604-683-8193 or Toll Free: 1-800-863-8655
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