Key Gold Holding Appoints Jean Lafleur and Wayne Isaacs to its Board of Directors

QUEBEC, CANADA -- (Marketwire - Feb. 1, 2012) - Key Gold Holding Inc. (TSX VENTURE:KGH) ("Key Gold") is pleased to announce the appointment of Jean Lafleur and Wayne Isaacs to the Corporation's Board of Directors; additionally, we regretfully announce the resignations of Roger Rosmus and Rick Bonner from the Board for personal reasons.

Mr. Lafleur is a geologist with over 30 years of experience in various capacities, both in Canada and internationally (West Africa, Ecuador and Mexico), with a range of industry companies, such as Newmont Mining Corporation, Falconbridge Limited and Placer Dome Inc. He most recently was Director and Head of Exploration for Champion Minerals Ltd., a TSX listed company, where he was instrumental in the advancement of their 2 billion tonne iron ore assets in the Quebec/Labrador iron ore trough. Mr. Lafleur has lead teams in the search for base metals, gold, nickel, iron, titanium, vanadium and uranium. His firm is currently running the drilling and exploration program for Nevado Resources Inc., at La Blache, Quebec, a higher grade iron ore, titanium and vanadium project He currently sits on the board of Fancamp Exploration Ltd and is also a Qualified Person as defined by National Instrument 43-101.

Mr. Isaacs, a graduate of the University of Western Ontario, has been a senior executive and director of numerous publicly listed companies the majority of which have been in the resource industry. He is currently the President and Chief Executive Officer of Augustine Ventures Inc. He is also the Chairman and CEO and co-founder of Delta Uranium Inc. Mr. Isaacs was the President and Director of Forsys Metals Corp, a TSX listed company with uranium properties in Namibia, Africa, from 2003 to 2007. During his tenure with Forsys Metals, Mr. Isaacs was involved in rising over $70 million for the company and managed the growth from start up to over $750 million in market capitalization and the development of its uranium properties from exploration stage to resource definition and production decision. Mr. Isaacs also owned and operated Acadia Capital Corp., a privately held consulting firm specializing in small cap mergers and acquisitions, form 1989 to 2003.

"We are grateful for the valuable contributions that Messrs. Rosmus and Bonner have made to the company, and we look forward to the impressive depth of experience that Messrs. Lafleur and Isaacs bring to our team" said Steve Barrett, Interim President and CEO.

The Corporation thanks Mr. Rosmus and Mr. Bonner for their contributions to the Corporation. The nominations are subject to Exchange's approval.

The Board of Directors of Key Gold will now comprise Mr. Robert Séguin, Chairman, Mr. Graham Warren, CFO, Mr. Louis Lessard and Mr. Jean Lafleur and Mr. Wayne Isaacs, Independent Directors.


About Key Gold Holding Inc.

Key Gold Holding Inc. is a mineral exploration company that is mainly focused on the acquisition, exploration and development of gold and copper properties.



Shares outstanding: 28,525,732

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contact

Graham Warren, CFO
(416) 594-0473
(416) 594-1630 (FAX)
g.warren@sympatico.ca
www.keygoldholding.com