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Vancouver June 14, 2007; Keegan resources Inc is pleased to announce that it has successfully negotiated the original purchase agreement on the Essase Gold Project to effect an immediate completion of the revised purchase agreement with vendor Sametro Company. In addition to the $600,000 paid to complete Sametro�s obligations to the Bonte Liquidation Committee, $100,000 and 40,000 shares already issued to Sametro under the original option agreement, Keegan renegotiated the terms of the agreement, whereby Keegan paid $850,000 to an underlying creditor of Sametro� This piece of information playing out on the website of Keegan Resources is about how a Canadian mining junior captured what is actually a capital fraud conceived in Tarkwa and birthed in Accra, through the agency of the minerals commission, the Minister of Mines and Natural resources and finally on the Stock Exchange of Toronto and the New York Stock Exchange. From the former Attorney General, through to the judiciary, the stench of influence peddling rose through the ranks of the upper echelon of two successive administrations, as the victims - Messrs Gordon Etroo, the western regional chairman of the Convention People�s Party and Mr. Kwame Opoku, the grandson of the just departed Progress Party/ New Patriotic Party icon, Mr. R.R Amponsah, encountered massive barriers as they battled to recover their assets currently being operated by Keegan resources, with estimated value of four billion dollars. It has sucked in two of the highest placed personalities in the Mills administration, who are known to be loyal to ex-President J.J. Rawlings directly, in a most irregular fashion designed to safeguard the architect of the fraud, Mr. Ekow Amua Sekyi of Ekuada chambers, in the line of fire. Mr. Opoku has had a court judgment against him for defrauding one Agyekum Kufuor, son of the former President, of over $1million dollars, in a joint business executed for the Ministry of Energy, involving electricity meters worth $2.9 million. At the time, the sector Minister was Dr. Papa Kwesi Ndoum. Bailiffs who had attended Opoku�s premises in Tema and cleared it of all his movable properties, including refrigerators, recounted Mr. Opoku in a direct interview with The Chronicle. How the web of conspiracy and theft was spun, has been told several times in different media outlets about two young lawyers, Messrs Ekow Amuah-Sekyi, Takoradi, and Kwabena Asamani, in a joint enterprise to literally steal the mine and forward it to Keegan Resources. The profile of the case is an elaborate and unbelievable scheme that even shocked the Chief Justice, Mrs. Georgina Wood, when it was first reported to her by Mr. Opoku. She was so surprised, according to Mr. Opoku, that she immediately advised that the report be made to the General Legal Council. Over a year since they reported the matter to the GLC, the matter has not been settled, but aspects of the matter has been leaked to the Insight newspaper in the 3-4th August 2009 edition of the newspaper, with the headline �KUFOR�S SON IN FIGHT OVER C22BN�. It tells of Asamani�s version of events which is so labyrinthine that even the GLC seems to be hazy about the matter. It may also explain why the complaints filed by Mr. Gordon Etroo seem to have hit a hiatus, even though Chronicle is flooded with propositions that GLC seem to have turned itself into a cult of sorts peopled by the �Silent brotherhood� of lawyers. Chronicle began a full flight investigation in the matter by probing all the parties in the matter, who voluntarily tendered their own documents, aware that they might keep some papers away from the prying eyes of Chronicle. What is roiling the parties in the case is the robust attitude of the Canadian mining minor, in holding on to the mine despite warnings and caveats proffered by their lawyers, Messrs Bluku Allotey, to wit, conduct proper due diligence please!, counseled Mr. Allotey, who has since been fired by Keegan Resources and has now has set up on his own at the airport office of the Chamber of Mines and Energy. Anything that is steeped in fraud, from the beginning, nullifies any submissions made by everybody. �Keegan is suing them and has counterclaimed against Gordon Etroo� - said Mr. Amua Sekyi to Mr. Kofi Coomson, who has been dispatched by The Chronicle management to unravel this piece of puzzle. To prove his case Amua Sakyi, who propositioned Mr. Coomson for assistance to tell his story, met him in Accra, and subsequently in Takoradi, for the second and third time at Beach road. He handed over court documents to support his case. The last document surrendered by his confidante - Ato Ampah to Kofi, contained one which was titled: �Sametro company Ltd, SIC office Building, Tarkwa, Western region Versus Keegan Resources Inc. Keegan Resources Ghana Limited. Airport Residential Area, Accra 2. Minerals Commission Switchback Road, Cantonments, Accra.� STATEMENT OF CLAIM AND COUNTER CLAIM BY FIRST DEFENDANT The 47 point affidavit contained several paragraphs that confirmed what Messrs Etroo and Opoku had been saying all along � that Amua Sekyi was a master of forgeries, for in paragraph 13, the so-called court documents contained the following: �The Ist defendant was subsequently informed by a letter dated 11th April 2�7 from Lawyer J.K Owusu Asamani to Keegan Resource Inc., copied to plaintiff, owed one Kwame Opoku (trading under the name and style of Kwame Opoku (TRADING UNDER THE STYLE OF OPOKU (KO CONSORTIUM), and that the said KO Consortium had obtained judgment against the plaintiff. Plaintiff confirmed its indebtedness to Kwame Opoku (KO CONSORTIUM). Paragraph 14. continued The plaintiff was said in the letter to have secured the loan with the Esaase concession, for which security the plaintiff had signed a deed of assignment dated 23rd September 2005, to assign and transfer the Esaase concession to Kwame Opoku (KO CONSORTIUM), in case plaintiff defaulted in repayment of the principal and interest payment of the loan. Nothing could be more fraudulent on the part of Amua Sekyi than this � because he knew when he was handing over the document to Kofi Coomson that KO Consortium was non-existent, but Coomson said while reporting back to this office that he played poker-face. The Registrar General has confirmed this fact in correspondence to Messrs Opoku and Etroo. Documents in the possession of the Chronicle point to that. GIGANTIC FRAUD The fight to report this gigantic fraud and regain the mine is on. Both the Canadian and New York stock exchanges have been alerted, and are currently investigating. Late last month, the New York stock exchange received the following complaint about a son of Kwame Opoku; Subject: Complaint against Keegan Resources Inc This is a complaint regarding a fraudulent dealing in Ghana wherein, one of the listed companies on the NYSE AMEX trading under the symbol - KGN, bought a gold mine without doing their due diligence to establish the existence of the company, K.O. Consortium, from which they bought the mine. Keegan Resouces inc. initially signed an option agreement with Sametroo Company Limited, the true owners of the mine. Along the line, two lawyers purporting to represent K.O. Consortium and Sametro went to Keegan Resouces and alleged that Sametroo owed K.O. Consortium and that the creditor had taken Sametroo to court, demanding to be paid. Keegan without doing any due diligence went ahead and paid $850,000.00 plus an additional $85,000.00 as finders fee to the two crooks. The money was said to be paid to K.O. Consortium, the non existent company, but the cheque that Keegan issued says otherwise. Also, the issue about the finders fee makes no sense. In a news release that can be accessed via this link, http://www.keeganresources.com/s/NewsReleases.asp?ReportID=191679. Keegan makes the claim that it paid the money to the creditor, but fails to mention the name of the said creditor in the release. In short, this is a fraud to the highest degree, and Keegan was well aware of this before they went into the deal making them a fraud as well. It is my wish that they be brought to book and the right actions be taken against them. Please find attached the following 5 documents: 1. The $850,000 cheque that Keegan made out to an individual, Joseph Kwame Asamani, instead of 'K.O. Consortium' 2. A report from the office of the Registrar General, stating that the company, K.O. Consortium, does not exist. 3. A three page agreement between K.O. Consortium and Keegan Resources. Below is an extract on how a company can be started in Ghana. The law in company maintains that a mining company be registered at the Registrar General's office before it can do business in Ghana. If Keegan had done their due diligence, they would have realized that 'K.O. consortium' was, and is a fraud. If you have any questions, do not hesitate to call. The Securities and Exchange Commission reacted fast, but cautioned against expecting immediate result as they were going to kick in their own investigations: From: SEC Help Date: August 26, 2009 7:34:10 AM CDT To: [email protected] Subject: SEC Response - File HO1344639 Reply-To: SEC Help We are taking your complaint very seriously, and have referred it to the appropriate people within the SEC. Please understand that the SEC conducts its investigations on a confidential basis and neither confirms nor denies the existence of an investigation unless we bring charges against someone involved. We do this to protect the integrity and effectiveness of our investigative process and to preserve the privacy of the individuals and entities involved. As a result, we will not be able to provide you with any future updates on the status of your complaint or of any pending SEC investigation. Below is a flyer that describes our policy as it will apply to your complaint. Please contact me if you have other questions. Sincerely, STEVEN G. JOHNSTON Office of Investor Education and Advocacy U.S. Securities and Exchange Commission (202)551-6349 INFORMATION ABOUT SEC INVESTIGATIONS Each year, thousands of investors ask the Securities and Exchange Commission to investigate the activities of other investors, financial professionals, corporations, brokerage firms, investment companies, stock exchanges, and others. These complaints generally suggest some impropriety or misconduct, and sometimes make a plea to the SEC for direct assistance in resolving a grievance. The SEC has the authority to investigate whether violations of the federal securities laws have occurred and we make every effort to evaluate promptly and thoroughly the information provided by investors. But we cannot investigate every investor complaint. While many investor complaints do lead to full investigations and, if appropriate, to enforcement actions, we cannot guarantee that our review will lead to further investigation or that the SEC will take any legal action. We also cannot provide you with updates on the status of your complaint or your request for an investigation. The SEC conducts investigations confidentially for two main reasons. First, we can conduct investigations more effectively if they are not announced publicly. For instance, important documents and evidence can be destroyed quickly if people hear of an investigation. Second, we keep our investigations confidential to protect the reputations of companies and individuals if we find no wrongdoing or decide we cannot bring a successful action against them. The SEC will not confirm or deny the existence of an investigation unless, and until, it becomes a matter of public record as the result of a court action or administrative proceeding. When there is proof that someone has violated the securities laws, the sanctions may include financial penalties, orders to surrender profits, cease and desist orders, or an injunction by a court to prevent further violations. The SEC may also bar individuals from working for securities firm, investment adviser, or Investment Company. We can also ask a federal court to bar individuals from being officers and directors of publicly held companies. In some situations, we may refer a case to the Department of Justice for possible criminal prosecution. The SEC publishes news releases about its lawsuits and administrative actions, and the news media often report on them. You can read and download the SEC�s �Enforcement Actions� on our website at www.sec.gov/divisions/enforce/enforceactions.shtml. Or you can obtain hard copies by reviewing �How to Request Public Documents� at: http://www.sec.gov/answers/publicdocs.htm Or Submit a written request to: U.S. Securities and Exchange Commission Office of Investor Education and Advocacy 100 F Street N.E. Washington, DC 20549-021 Fax: (202) 772-9295 Phone: (202) 551-8090 Now as Chronicle digs in locally, the paper has uncovered shocking complicity at highest level by Government, in attempts to cover up this case which comes on in 17th September. Not only is the Kwame Tetteh-led General Legal Council suddenly developing cold feet, a full year after the case had been reported to them, not a word has been heard from them, but Mr. Joe Ghartey, who responded after several attempts to reach him, was stung to react in a standard way, after he was asked by this reporter (Zambaga), about Amoah Sekyi�s involvement in the case, and how he conducted himself. According to him, if the case is civil, it is referred to the Solicitor Generals Office, where the office will also refer the matter to the lawyer handling the case. In case the matter is criminal, it is referred to the office of the Director of Public Prosecution for it to be studied and forwarded to the lawyer handling it. When the Essikado MP was asked about his role in the specific cases, he said he could not remember all the cases that were brought before him, because they were many, and besides all actions that he took in office was not in his individual capacity, but in the capacity of the AG�s office and, therefore, referred the paper to the AG�s office for further clarification on all issues regarding the office of the AG. �I used to work in an office, it is not an individual thing or personal,� he said on phone. Hon. Joe Ghartey, after explaining the procedures of how his former office works, then distanced himself from the accusations, insisting that if he had a way in office to help anybody at all, it would have been his own brother who had a case and had to face the law. �My own brother was tried while I was the Attorney General, I did not stop that,� adding �if I didn�t aid my brother, how can I aid somebody else�? he questioned.