KGH Pangolin Diamonds Corporation

Key Gold Holding Inc. (TSX VENTURE: KGH) ("Key Gold") is pleased to announce that at its Annual and Special Meeting of the Shareholders (the "Meeting") for the financial years ending December 30, 2009 held on Wednesday, January 19, 2011 as scheduled, Robert Leckie and Douglas H. Bache were newly elected to Key Gold's board of directors, subject to regulatory approval, in addition to the incumbents Louis Lessard, Robert Seguin and Claude St-Hilaire. Accordingly, the board of directors of Key Gold consists of five directors namely: Louis Lessard, Robert Seguin, Claude St-Hilaire, Robert Leckie and Douglas H. Bache.

Also approved at the Meeting was the appointment of Brunet Roy Dube, Chartered Accountants, as auditor for the ensuing year, a resolution approving a share for debt agreements with a non-arm's length party and a resolution approving a new stock option plan in accordance with the policies of the TSX Venture Exchange. In particular, the terms of the stock option plan allow for a maximum of 10% of the issued and outstanding listed common shares of Key Gold to be reserved for issuance under the stock option plan, provided that no single participant be issued options representing greater than five (5%) percent of the number of outstanding common shares in any twelve (12) month period unless Key Gold has obtained disinterested shareholder approval.

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.

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.

Shares outstanding: 24,622,053

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.

Contacts: Louis Lessard President 514-650-4171