SGX Sage Gold Inc.

Sage Gold Inc. (TSX VENTURE:SGX) has closed the final tranche of a previously
announced private placement for gross proceeds of $30,500. A total of 1,016,666
common shares at $0.03 have been issued to two parties to complete this
financing. The transaction is subject to TSX-V approval. Total fees on this
placement are $840.00, plus the issuance of 840 broker warrants.


Sage has agreed to settle an obligation of $18,000 by issuing 360,000 common
shares for a debt settlement to a third party vendor at a price $0.05 per share.
The issuance represents payments to one vendor pursuant to a consulting
agreement. The consulting agreement provides that a portion of the monthly fee
can be converted to common shares. The transaction is subject to TSX-V approval.


Sage has agreed to settle an obligation of $16,667 owed to an arms-length
consultant by issuing 333,340 common shares based on an agreed price of $0.05
per common share. The issuance represents an initial payment to one vendor
pursuant to a one year consulting agreement. The consulting agreement provides
that a portion of the monthly fee can be converted to common shares. The
transaction is subject to TSX-V approval.


Sage is a mineral exploration and development company which has primary
interests in near-term production and exploration properties in Ontario. Its
main properties are the Clavos Gold deposit in Timmins and the Lynx deposit and
other exploration properties in the Beardmore-Geraldton Gold Camp. Technical
reports and information relating to the properties can be obtained from the
System for Electronic Document Analysis and Retrieval (SEDAR) website at
www.sedar.com and www.sagegoldinc.com.


This release was prepared by management of the Company who takes full
responsibility for its contents. 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.


This news release contains certain "Forward-Looking Statements" within the
meaning of Section 21E of the United States Securities Exchange Act of 1934, as
amended and "Forward Looking Information" within the meaning of applicable
Canadian securities legislation. Some forward looking statements and forward
looking information contained in this release are forward-looking and,
therefore, involve uncertainties or risks that could cause actual results to
differ materially. Such forward-looking statements include comments regarding
mining and milling operations, mineral resource statements and exploration
program performance. Factors that could cause actual results to differ
materially include metal price volatility, economic and political events
affecting metal supply and demand, fluctuations in mineralization grade,
geological, technical, mining or processing problems, exploration programs and
future results of exploration programs, future profitability and production. The
Company disclaims any obligation to update forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Sage Gold Inc.
Nigel Lees
President and C.E.O.
416-204-3170


Sage Gold Inc.
Mike O'Brien
Communications Manager/Investor Relations
416-204-3170
416-260-2243 (FAX)
www.sagegoldinc.com

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