Key Gold Holding Inc.: Modifications to the Terms and Conditions of the Private Placement Announced on September 1st, 2010

Key Gold Holding Inc. (the "Company")(TSX VENTURE:KGH) hereby announces some
modifications to the terms and conditions of the proposed private placement
announced in its press release dated September 1st, 2010. The general terms and
conditions of the private placement remain the same except that the maximum
number of common shares offered has been raised to 5,600,000 shares at a price
of $0.125 per share. The closing will be held on or before December 20, 2010.


About Key Gold Holding Inc. 

Key Gold Holding Inc. is a junior mining exploration company listed on the TSX
Venture Exchange whose mission, amongst others, is to invest in small-scale gold
production projects and to provide expertise in financial and mining engineering
with the objective of maximizing return on investments and shareholders' value.


Forward looking Statement:

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


Shares outstanding: 11,740,434