SGX Sage Gold Inc.

Sage Gold Inc. (TSX VENTURE:SGX) ("the Corporation" ) has entered into share
exchange agreement with Global Resources Investment Ltd. ("GRIL"), an arm's
length party to the Corporation. 


GRIL is a UK-based, investment trust established to seek to exploit investment
opportunities in the junior mining and natural resource sectors. GRIL's
investment objective is to generate medium and long-term capital growth through
investment in diverse portfolios of primarily small and mid-capitalized natural
resources and mining companies which are listed various global stock exchanges.


GRIL is seeking admission of its ordinary shares (the "GRIT Shares") on the main
market for listed securities on the London Stock Exchange ("LSE") and where it
proposes to re-register as a public company and constituted as a UK Investment
Trust with the name Global Resources Investment Trust Plc. ("GRIT"). The
Corporation and GRIL have entered into a share exchange agreement (the
"Agreement") whereby the Corporation would, assuming successful listing of the
GRIT Shares on the LSE, subscribe for 192,480 GRIT Shares at a deemed value of
GBP 1.00 per GRIT Share in exchange for the issuance of 5,000,000 units of
Corporation at deemed price of GBP 0.0385 per unit (the "Transaction"). (This
equals approximately $0.06 Canadian) Each unit would be comprised of one common
share in the capital stock of the Corporation ("Common Share") and one-quarter
(1/4) of one Common Share purchase warrant (each whole such warrant, a
"Warrant") exercisable at a price of C$0.10 per Warrant for a period of two
years from the date of issue. 


As at the date hereof, there are 123,231,245 Common Shares issued and
outstanding. Upon completion of the proposed Transaction, GRIL would hold 


5,000,000 Common Shares representing approximately 4% of the Corporation's
issued and standing Common Shares on a non-diluted basis.


Closing of the transaction requires the final approval of the TSX-V and LSE and
receipt of all other necessary regulatory approvals in Canada and the United
Kingdom.


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, exploration program
performance and closing of the transaction. 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
416-260-2243 (FAX)


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

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