Key Gold Holding Acquires Souart Gold Property and Announces Appointment of New President

Key Gold Holding Inc. (TSX VENTURE:KGH) ("Key Gold") is pleased to announce the
arm's length acquisition of a 100% interest in the Souart gold property (the
"Property") with historical resources estimated at 110,000 oz Au grading 6.2
g/t. This property acquisition is another step in implementing the corporation's
new strategic mandate of focusing on copper-gold properties. Completion of this
transaction is subject to the approval of the TSX Venture Exchange ("TSXV") and
all securities issued thereunder will be subject to a four month hold period.


The Souart Gold Property 

The Property consists of 49 claims and is strategically located in the vicinity
of Metanor, Amseco, Bonterra, and Eagle Hill near Lebelle-sur-Quevillon in the
Province of Quebec. The Property is subject to 1% NSR royalty. It is easily
accessible all year by road with good infrastructures in place.


The Urban-Barry area is the site of renewed interest following the release of
excellent drill results by Eagle Hill Exploration Corporation ("Eagle Hill") who
reported 19.61 g/t Au (cut 3.51 g/t) Au over 33 m (Eagle Hill release of March
10, 2010). Noront Resources Ltd. ("Noront") previously reported grades of 800.1
to 1,792.9 g/t Au over 4.8 m (Noront release of December 1, 2006) and of 27.3
g/t Au over 14.4 meters (Noront release of June 8 2006) and more recently with
Bonterra.


The Urban-Barry greenstone belt also hosts a number of gold deposits including
the Lac Rouleau (Beaufield) to the northeast and the Barry deposit (Metanor).


A qualified person has not done sufficient work to classify the historical
estimate as current mineral resources, the issuer is not treating the historical
estimate as current mineral resources and the historical estimate should not be
relied upon.


The Transaction 

Pursuant to an arm's length purchase agreement made between Key Gold, Rivercrest
Resources Inc. and Glen Eagle Resources Inc. (the "Agreement"), Key Gold will
acquire a 100% interest in the Property in exchange for cash payments totaling
$490,000, the issuance of 5,750,00 common shares of Key Gold and exploration
expenditures totaling $1,750,000 in accordance with the following schedule:




--------------------------------------------------------------------------
Dates                       Cash Payments Share Issuances Work Commitments
--------------------------------------------------------------------------
Within 10 Business Days                                                   
 of the TSXV approval             $40,000       1,030,000                -
--------------------------------------------------------------------------
Within one year of the                                                    
 signing date of the                                                      
 Agreement                       $150,000       1,220,000         $750,000
--------------------------------------------------------------------------
Within two year of the                                                    
 signing date of the                                                      
 Agreement                       $150,000       1,500,000       $1,000,000
--------------------------------------------------------------------------
Within tree year of the                                                   
 signing date of the                                                      
 Agreement                       $150,000       2,000,000                -
--------------------------------------------------------------------------



A finder's fee of 500,000 common shares of Key Gold is payable to Ansacha
Capital Inc. on this transaction.


Closing of the acquisition is subject, amongst other things, to the completion
of satisfactory due diligence on the Property by Key Gold, including the
preparation of a Regulation 43-101 (Quebec) compliant technical report for the
Property, financing and the approval of the TSXV.


Appointment of New President 

Key Gold is also pleased to announce that its Board of Directors recently
appointed Mr. Louis Lessard as president of the corporation.


Mr. Lessard is President of Centre Financier de la Cite inc., a private company
providing financial support to emerging companies since 2004. Mr. Lessard was
founder and director of various Capital Pool Companies and acts as directors for
various companies. Mr. Lessard holds a Bachelor Degree in Economics from the
Universite Laval and a certificate in Law.


About Key Gold Holding Inc. 

Key Gold Holding Inc. is a mineral exploration company that is mainly focused on
company focused on the acquisition, exploration and development of gold and
copper properties. Gilles Laverdiere, P.Geo., a qualified person according to
the Regulation 43-101 (Quebec) has reviewed and approved the technical content
presented herein.


Shares outstanding: 13,560,434 

Forward looking Statement 

This document contains certain forward looking statements which involve known
and unknown risks, delays, and uncertainties not under the corporation's control
which may cause actual results, performance or achievements of the corporation
to be materially different from the results, performance or expectation implied
by these forward looking statements.


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.