KGH Pangolin Diamonds Corporation

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES


Key Gold Holding Inc. (TSX VENTURE:KGH) (the "Company" or "Key Gold") is pleased
to announce that further to its press releases of February 21, 2012 and August
8, 2012, it has closed its previously announced business combination with
Pangolin Diamonds Corp. ("Pangolin") to create the new amalgamated company
"Pangolin Diamonds Corp." ("New Pangolin"). At shareholder meetings for each of
Key Gold and Pangolin held on January 15, 2013, the amalgamation of Key Gold and
Pangolin, pursuant to an amalgamation agreement dated November 26, 2012 was
approved (the "Amalgamation"). In connection with the Amalgamation, Key Gold
shareholders received one (1) common share of New Pangolin ("New Pangolin
Share") for each two (2) outstanding common shares in the capital of Key Gold
and Pangolin shareholders received one (1) New Pangolin Share for each
outstanding common share in the capital of Pangolin.


In connection with the Amalgamation, shareholders of Key Gold also voted in
favour of a continuation of the Company from Quebec into Ontario and approved a
shares for debt transaction for an aggregate amount of $271,946.05 resulting in
the issuance on February 12, 2013 of 5,429,921 common shares of the Company at a
price of $0.05 (equivalent to $0.10 following the closing of the Amalgamation),
including 2,433,562 to insiders of Key Gold, which were both conditions of the
Amalgamation. Concurrently, Pangolin completed a private placement financing of
$1,144,533 at an issue price of $0.10 per share, which was also a condition of
the Amalgamation (the "Concurrent Financing"), with insiders of Pangolin
subscribing for a total of $10,000. The funds raised as part of the Concurrent
Financing are in addition to the approximately $1 million raised by Pangolin
since its incorporation pursuant to a private placement financing at an issue
price of $0.10 per common share. 


The Amalgamation constitutes a reverse take-over under the policies of the TSX
Venture Exchange (the "TSXV"). Former Key Gold shareholders received
approximately 16.8 million New Pangolin Shares out of the approximately 58.7
million New Pangolin Shares issued and outstanding at closing of the
Amalgamation. The Company has filed final documentation with the TSXV pursuant
to the conditional approval received on December 3, 2012. Subject to the final
approval of the TSXV, the New Pangolin Shares are expected to begin trading on
the TSXV at the opening of the markets on or about Thursday, March 7, 2013 under
the symbol "PAN".


Willem Smuts, Chief Executive Officer and President of New Pangolin stated that
"with the closing of the Amalgamation and combination of resources, New Pangolin
is well-positioned to execute its development and exploration work programs over
the next twelve months and capitalize on the diamonds exploration opportunities
in Botswana."


New Pangolin's Tsabong North diamond exploration project is situated on the
western edge of the Archaean Kaapvaal Craton, immediately north of the
diamondiferous Tsabong kimberlite field. Soil sampling has produced highly
anomalous concentrations of kimberlite indicators within the project area.
Microprobe analyses of garnets has confirmed the presence of G10 garnets,
indicative of the presence of a mantle conducive to the crystallization of
diamonds. A detailed aeromagnetic survey has identified fifty targets. Soil
trace element results are consistent with orientation trace element results over
known kimberlites. The craton margin location of the project is similar to that
of kimberlites in Lesotho known to host large, high value Type II diamonds.


Mr. Leon Daniels, Ph.D., the Chairman of New Pangolin, is a "qualified person"
under National Instrument 43-101 and has reviewed the technical disclosure
regarding New Pangolin in this Press Release.


Directors and Officers 

As a result of the closing of the Amalgamation, the directors and officers of
New Pangolin are as follows:




Dr. Willem Smuts         President, Chief Executive Officer and Director
Dr. Leon Daniels         Chairman and Director                          
Graham Warren            Chief Financial Officer and Secretary          
Louis Peloquin           Director                                       
Jean Lafleur             Director                                       
Thomas A. Fenton         Director                                       



Biographies of the officers and directors will be available on the website of
New Pangolin at www.pangolindiamondscorp.com.


Escrow

Pursuant to the terms of a value security escrow agreement dated March 1, 2013
among New Pangolin, Canadian Stock Transfer Company Inc., as escrow agent, and
certain escrow security holders, an aggregate of 19,409,000 New Pangolin Shares
have been placed in escrow, whereby 10% of such securities will be released
immediately upon the issuance of the TSXV bulletin evidencing final acceptance
of the Amalgamation and the balance of such securities will be released in equal
tranches of 15% every six months thereafter.


Sponsorship

Paradigm Capital Inc. acted as sponsor in connection with the Amalgamation.

About Pangolin Diamonds Corp.

Pangolin Diamonds Corp. is a junior exploration company that holds, through its
wholly owned subsidiaries in Seychelles and Bostwana, a 100% interest in eleven
(11) Prospecting Licenses covering 5,307.16 km2. Project Areas that are 100%
owned: Tsabong North (priority target), Jwaneng South, Lorolwane (application
pending), Malatswae, and Mmadinare.


New Pangolin has approximately 58.7 million common shares outstanding and will
be listed on the TSXV under the symbol PAN.


Reader Advisory

Certain information included in this press release constitutes forward-looking
information under applicable securities legislation. Such forward-looking
information is provided for the purpose of providing information about
management's current expectations and plans relating to the future. Readers are
cautioned that reliance on such information may not be appropriate for other
purposes, such as making investment decisions. Forward-looking information
typically contains statements with words such as "anticipate", "believe",
"expect", "plan", "intend", "estimate", "propose", "project" or similar words
suggesting future outcomes or statements regarding an outlook. Forward-looking
information in this press release may include, but is not limited to,
information with respect to: operational decisions and the timing thereof, and
timing for drilling and exploration plans on the properties of New Pangolin.
Forward-looking information is based on a number of factors and assumptions
which have been used to develop such information but which may prove to be
incorrect. Although New Pangolin believes that the expectations reflected in
such forward-looking information is reasonable, undue reliance should not be
placed on forward-looking information because New Pangolin can give no assurance
that such expectations will prove to be correct. Readers are cautioned that the
foregoing list is not exhaustive of all factors and assumptions which have been
used. New Pangolin undertakes no obligation to update forward-looking statements
if circumstances or management's estimates or opinions should change, unless
required by law.


The reader is cautioned not to place undue reliance on this forward-looking
information.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pangolin Diamonds Corp.
Dr. Willem Smuts
President & CEO
+27.83.782.2346
wjsmuts@pangolindiamondscorp.com
www.pangolindiamondscorp.com

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