Key Gold Holdings Inc. Announces a Non-Brokered Private Placement of Flow-Through Shares

Key Gold Holding Inc. (TSX VENTURE:KGH) (the "Company") hereby announces its
intention to close on or about December 31st, 2010 a non-brokered private
placement consisting of 3,333,333 flow-through shares at a price per share of
$0.18 for proceeds of a maximum of $600,000.


The Company intends to pay an intermediary fee of 10% on the proceeds of the
contemplated financing to limited market dealers.


About Key Gold Holding Inc.

Key Gold Holding Inc. is a junior mining exploration company listed on the TSX
Venture Exchange whose mission, among 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 : 18,360,574

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.