Vein 4 is exposed over a strike length of approximately 100 metres. It consists of an up to 2 metre wide quartz-sulphide vein localized within an ENE trending shear interpreted as a component of the Paint Lake shear zone. At its eastern end the vein abruptly changes strike, exploiting a NW trending structure that is related to the late-stage development of the Paint Lake shear zone.

Vein 7 is exposed over a strike length of approximately 40 metres. It is hosted within a discrete NW trending dextral structure similar to the one controlling Vein 4. It consists of a narrow quartz vein containing pyrite, chalcopyrite and galena.

Detailed mapping is currently being completed at both showings to better understand the controlling structures and the distribution of the gold mineralization.

The new zones represent a significant expansion of the surface gold showings discovered last year and reported in press releases on August 25, 2008 and March 12, 2009. Veins 7, 8, 1 and 10 occur at or within the Paint Lake shear zone over a combined strike length of 1.3 kilometres. Veins 4, 5 and 9 occur southeast of the Vein 7 - Vein 10 zone and represent secondary vein structures within mafic volcanics.

Please refer to www.sagegoldinc.com for a map and current channel and grab samples of Veins 1 - 10 on the Paint Lake property.

The Paint Lake property is located contiguous to the western end of Ontex's Brookbank gold deposit which has 43-101 compliant inferred and indicated mineral resources. Ontex announced (12/18/08) a drill intersection of 85.9 g Au/T over 3.4 metres from drilling completed on the Brookbank deposit. Sage's new gold zones occur in a structural/stratigraphic corridor that encompasses Veins 7, 8, 1, 10 and 2 as one potential mineralized horizon and Veins 5, 9, 3 and 4 as another series of parallel and sub-parallel veins. Sage will continue to expose, map and sample the current vein structures and will prospect for additional veins throughout the summer season.

Technical Information

Sage's channel samples are between 3 and 4 cm wide and are cut with a motorized diamond saw to a depth of approximately 5 cm. The channels are cut as close to perpendicular to the strike of the vein as permitted by the rock surface. Samples are taken from the footwall, the vein and the hanging wall. Sample intervals are chosen to provide a representative sample of the surface mineralization of the vein and the wall rock. Assays reported in this news release were completed by Accurassay Labs in Thunder Bay. Accurassay's gold analysis is performed using a 30g fire assay charge. The fire assay procedure uses lead collection with a silver inquart. The beads are then digested and an atomic absorption or ICP finish is used. All gold assays that are greater than 10 g/t are re-assayed by fire assay with a gravimetric finish.

The technical content of this news release relating to the Paint Lake project has been reviewed by Sage's consulting Geologist Robert B. L'Heureux, M.Sc, P.Geol., of APEX Geoscience Ltd., who is a qualified person as defined by NI 43-101.

SAGE is a mineral exploration and development company which has interests in exploration properties in Ontario, Nevada and Arizona. Its main properties are the Jacobus, Paint Lake, Solomon Pillars and Onaman properties in the Beardmore Geraldton Gold camp and the Kerrs property in Ontario. Technical reports relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.

For all Sage Gold Inc. investor relations needs, investors are asked to visit the Sage Gold Inc. IR Hub at http://www.agoracom.com/IR/sagegold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to sgx@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

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

Some statements 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
416-260-2243 (FAX)

or

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

www.sagegoldinc.com

The TSX Venture Exchange has not reviewed and does not accept 
responsibility for the adequacy or accuracy of this news release.

Please click here to view Technical Report on the Jacobus East Property.

Regards,

AGORACOM Investor Relations

The 3000 metre program will continue over the summer and target the gold bearing vein systems with the aim of testing the down dip extensions of surface high grade gold mineralization.

The company has previously reported channel samples of up to 136.5 g Au/T and grab samples up to 259.99 g Au/T from the Golden Extension.

The Golden Extension lies directly on strike and northwest of Kodiak Exploration's (KXL.V) Golden Mile discovery.

SAGE is a mineral exploration and development company which has interests in exploration properties in Ontario, Nevada and Arizona. Its main properties are the Jacobus, Paint Lake, Solomon Pillars and Onaman properties in the Beardmore Geraldton Gold camp and the Kerrs property in Ontario. Technical reports relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.

For all Sage Gold Inc. investor relations needs, investors are asked to visit the Sage Gold Inc. IR Hub at http://www.agoracom.com/IR/sagegold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to sgx@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

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

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
416-260-2243 (FAX)

or

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

www.sagegoldinc.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Sage Gold Option Grant

In an effort to keep you up to date on all pertinent information regarding the resource sector, please see the attached article titled; “Gold jumps above $970/oz as dollar weakens.”

Regards,

AGORACOM Investor Relations

Click here to view article in its entirety.

Gold jumps above $970/oz as dollar weakens

Precious metal climbs to firmest level since late February

Jan Harvey

LONDON — Reuters, Friday, May. 29, 2009 06:42AM EDT

Gold on Friday rallied through $970 (U.S.) an ounce for the first time since February in Europe as traders bought the metal as a hedge against weakness in the U.S. dollar.

Rising oil prices, reports of a pick-up in Middle Eastern demand, and firm buying in India, the world's biggest gold consumer, during the wedding season are also supporting prices, analysts said.

Spot gold was bid at $972.60 an ounce at 0923 GMT, against $958.80 an ounce late in New York on Thursday.

Under the agreement, Puma shareholders will receive 1.137 common shares of Sage for each Puma common share held. Based on the currently issued and outstanding common shares of Puma, Sage will issue approximately 58.9 million common shares to acquire all of the currently outstanding Puma common shares, resulting in Puma shareholders holding approximately 25% of the combined entity. The post-merger issued and outstanding common shares of Sage will be approximately 236 million. The agreement has been negotiated at arm's length and approved by the Boards of Directors of both companies.

The transaction is to be effected pursuant to a plan of arrangement under the Business Corporations Act (British Columbia), which will require approval of at least 66 2/3% of the shares of Puma voted at Puma's upcoming annual and special shareholders' meeting, expected to be held in July 2009, with the transaction closing shortly thereafter. Completion of the transaction is subject to a number of other conditions precedent, including receipt by Puma of a favourable fairness opinion, and receipt of all necessary shareholder, stock exchange, court and regulatory approvals. The combined entity will retain the Sage Gold Inc. name and trading symbol SGX on the TSX Venture Exchange.

Full details of the transaction will be included in the Management Information Circular to be filed with the regulatory authorities and mailed to Puma shareholders in accordance with applicable securities laws.

Nigel Lees, Sage Gold's President and CEO commented that, "Combining with Puma creates a strong platform to implement our business plan and continue an aggressive exploration program in the Beardmore Geraldton Gold camp in Ontario where Sage has extensive property holdings including the Golden Extension gold discovery. This is the first acquisition in the Company's strategy to leverage its strong management team and exciting properties to grow Sage and enhance shareholder value."

Vahan Kololian, Puma's President and CEO, added, "The combination of our companies enables Puma's shareholders to acquire a 25% share in a growing gold company in the Beardmore Geraldton area of Ontario."

Fraser Mackenzie Limited is retained as financial advisor to the Board of Directors of Puma and will provide a fairness opinion with respect to the transaction.

SAGE is a mineral exploration and development company which has interests in exploration properties in Ontario, Nevada and Arizona. Its main properties are the Jacobus, Paint Lake, Solomon Pillars and Onaman properties in the Beardmore Geraldton Gold camp and the Kerrs property in Ontario; and the Gold Hill property in Arizona. Technical reports relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval ("SEDAR") website at www.sedar.com.

PUMA is a mineral exploration and development company which currently has two assets, a platinum group metals exploration property in the Kola Peninsula of Northwest Russia, and approximately $3.5 million of cash. Further information can be obtained from the SEDAR website at www.sedar.com.

Some statements 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, future results of exploration programs, future profitability and production, and general market, economic and financing conditions. Sage and Puma disclaim any obligation to update forward-looking statements.

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release does not constitute an offer of any of the securities described herein in any jurisdiction.

FOR FURTHER INFORMATION PLEASE CONTACT:

Sage Gold Inc.
Nigel Lees
President and CEO
416-204-3170


or

Sage Gold Inc.
Mike O'Brien
Manager/Investor Relations
416-204-3170
416-260-2243 (FAX)
sgx@agoracom.com
www.agoracom.com/IR/sagegold

or

Consolidated Puma Minerals Corp.
Vahan Kololian
President and CEO
416-644-6000
416-644-6001 (FAX)

www.consolidatedpuma.com

This release was prepared by management of the Sage and Puma who takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

McGuinty Government To Introduce Innovative, Balanced Legislation For A

Sustainable Mining Future

Proposed changes to Ontario's Mining Act would see significant strides in

Aboriginal consultation, provide clear rules for industry and reduce the

impact of mineral exploration on the environment.

The proposed legislation, to be introduced later today, promotes balanced

development that benefits all Ontarians. If passed, it would modernize the way

companies stake and explore their claims to be more respectful of private land

owners and Aboriginal communities. At the same time, it would support a

vibrant minerals industry that would help many communities realize their

economic and social aspirations.

The proposed legislation includes a number of ground-breaking provisions,

which would make Ontario a national leader in mineral resource stewardship,

including:

- Incorporating Aboriginal consultation in mining legislation and

regulations

- Requiring awareness training to obtain a prospector's licence, and

- Introduction of a dispute-resolution process for Aboriginal-related

issues in mining.

If the legislation is passed, Ontario will begin putting new rules in

place later this year.

QUOTES

"This proposed legislation takes bold steps toward a modern, innovative

Mining Act that would balance all of our respective interests, benefit Ontario

communities and support a vibrant Ontario minerals industry."

- Michael Gravelle, Northern Development and Mines Minister

QUICK FACTS

- Mining is Canada's largest private sector employer of Aboriginal

people.

- Mining provides Ontario with a trade surplus of about $3.3 billion

annually.

- The 2009 Ontario Budget committed $40 million over three years for

initiatives to support Mining Act modernization.

LEARN MORE

About the modernization of Ontario's Mining Act

(http://www.mndm.gov.on.ca/miningact/...

About the mineral industry in Ontario

(http://webx.newswire.ca/click/?id=d1...

About Ontario's approach to Aboriginal affairs

(http://www.aboriginalaffairs.gov.on....

MODERNIZING ONTARIO'S MINING ACT

Proposed legislation to modernize Ontario's Mining Act builds on the

commitment announced last July - as part of the Far North Planning initiative

(http://webx.newswire.ca/click/?id=a1... to find new approaches to

mineral exploration that would be more respectful of Aboriginal communities

and private land holders.

During six months of consultations, more than 1,000 people and groups

participated in public and stakeholder sessions across the province. Input was

also received through the Environmental Bill of Rights Registry. The Ministry

of Northern Development and Mines also carried out comprehensive Aboriginal

consultations to ensure the broadest possible Aboriginal participation and

input. In total, approximately 100 First Nation communities, as well as

Aboriginal organizations participated in some manner.

If the legislation is passed, there would be additional opportunities for

input over the coming months as regulations are developed.

HIGHLIGHTS:

For Aboriginal Communities

Ontario would become the first jurisdiction in Canada to expressly

recognize Aboriginal and treaty rights in its mining legislation, and enable a

dispute resolution process for Aboriginal-related mining issues through

regulation.

Proposals would also address key concerns of Aboriginal communities. For

instance, Ontario's modernization approach would include:

- Provisions for withdrawing significant Aboriginal cultural sites from

claim staking;

- Notification of Aboriginal communities immediately after a claim is

staked;

- Requirements for prospectors and companies to notify Aboriginal

communities of plans for significant exploration activities within

their traditional lands;

- Provisions to enable restrictions on prescribed prospecting and

exploration activities;

- Introduction of a graduated approach to Aboriginal consultation, with

the scope and degree tied to impact of proposed exploration

activities. This approach would:

- Outline consultation requirements

- Require environmental rehabilitation

- Require exploration work plans or permits.

The ministry will invite further input from First Nation communities and

Aboriginal organizations as Ontario develops regulations and implements the

changes.

For Private Land Owners

The proposed legislation would address conflicts that have arisen between

mineral exploration companies and surface rights holders who do not hold the

mineral rights on their lands. For instance, Ontario would:

- Withdraw mining rights in southern Ontario where surface rights are

privately held, while respecting existing claims and leases. In

Northern Ontario, private land holders could apply for such

withdrawals but granting withdrawals would first consider criteria

such as mineral potential;

- Broaden the list of lands not open to staking;

- Require enhanced notification of private land owners, after claim-

staking and prior to exploration;

- Introduce new exploration provisions such as a graduated regulatory

regime for exploration;

- Introduce a map staking system that would eliminate the need for

prospectors to enter onto property to stake mining claims. Map staking

would be phased in beginning in southern Ontario.

In addition, owners of land originally patented for mining purposes, but

not currently being used for mining purposes, would be able to apply for an

exemption from mining land tax.

Lands with private surface rights and Crown mineral rights that are open

for staking comprise only 1.4 per cent of southern Ontario's landmass, and

only 0.4 per cent of Northern Ontario's landmass.

For the Mineral Industry

Ontario's proposed legislation would increase clarity for the mineral

industry by outlining requirements for consultation -- and accommodation as

appropriate -- with Aboriginal communities, while maintaining fair and

competitive access to mineral tenure.

It includes a graduated regulatory scheme for early exploration, with

exploration plans required for lower impact activities and exploration permits

required for activities with higher impact. Regulations would provide the

details for exploration plans and permits, including requirements for

rehabilitation; Aboriginal consultation and working on private surface rights.

The proposed legislation would increase certainty for the industry by

setting out a clear framework for the responsible management and sustainable

development of Ontario's mineral resources.

It would also foster early engagement and enhanced relationships between

Aboriginal communities and companies.

Ontario would be the first Canadian jurisdiction to enable a dispute

resolution process for Aboriginal-related mining issues in its mining

legislation.

Environmental Considerations

Proposed legislation responds to calls for greater consideration for the

environment.

It would reduce impacts to the environment by implementing a new

graduated regulatory scheme for early exploration activities to include

rehabilitation requirements.

It would embed in legislation that no new mine opening can occur in the

Far North unless there is an approved community-based land use plan.

The phased introduction of map staking across the province would

eliminate the minimal impact of ground staking.

Compliance with the new requirements would be encouraged through

increases to maximum penalties for offences against the Act.

SUPPORTIVE QUOTES

"Working together with our Aboriginal partners has helped contribute

significantly to improving the Mining Act. By listening to our partners we can

help build stronger Aboriginal communities, making for a stronger Ontario."

- Brad Duguid, Minister of Aboriginal Affairs

"Ontario's new collaborative approach to developing legislation and

public policy in Ontario is certainly innovative. It is respectful to the

recognition of First Nations rights and indicative of Ontario's commitment to

working with First Nations on a government-to-government basis."

- Grand Council Chief John Beaucage,

Leader of the 42-member First Nations of the Anishinabek Nation

"Industry and other stakeholders have worked together to suggest changes

to modernize the Mining Act. As explorationists we believe these changes will

provide certainty around access to land, which will allow us to attract

investment to Ontario."

- Garry Clark, Executive Director, Ontario Prospectors Association

"Goldcorp supports Minister Gravelle in his efforts to modernize

Ontario's Mining Act, and Government's support for a healthy, vibrant mining

industry in Ontario which Goldcorp believes is in the interests of all

Ontarians."

- George R. Burns, Vice-President, Canada and the United States, Goldcorp

Inc.

"The proposed legislation is an important step towards reconciling

long-standing conflicts between the interests of Aboriginal communities,

conservationists and the mining sector. It provides important tools for

proactive planning and dispute resolution that will help strike a balance

between ecological and cultural priorities and economic development."

- Larry Innes, Executive Director, Canadian Boreal Initiative

For further information: Anne-Marie Flanagan, MNDM Minister's Office,

(416) 327-0655

The first phase of a 3000 metre drill program is planned for June 2009 and will target the high-grade gold vein structures.

Highlights of Surface Exploration Program

- Vein 9 - comprises two discrete veins separated by up to 15 metres of sheared carbonatized and mineralized wall rock. Visible gold is present within the sheared wall rock between the north and south offshoots. Stripped length of 50 metres.

- Vein 9 - Grab samples ranging from 0.56g Au/T to 36.23 g Au/T, channel sample of 2.95 g Au/T over 0.30 metres

- Vein 4 channel sample of 93.72 g Au/T over a width of 0.4 metres

- Vein 4 grab sample of 259.99 g Au/T; grab samples range from 1.7 g Au/T to 259.99 g Au/T with an overall average of 75.83 g Au/T

- Vein 1 channel sample of 136.5 g Au/T over 0.50 metres

- Magnetometer and Very Low Frequency (VLF) surveys underway - good correlation with vein systems and geophysics

- 1.2 kms of exposed vein structures

Refer to www.sagegoldinc.com for complete assay results

Sage President & CEO Nigel Lees stated: "We are encouraged by the lateral extent of gold bearing quartz vein systems that we have discovered during the winter stripping and sampling program. We have expanded our array of drill targets at the Golden Extension now comprising the original discovery on Vein 1, Vein 2, the main vein on Vein 4, the extensive quartz stockwork at the northwestern end of Vein 4 and the new mineralized complex of Veins 9 and 10. We will be able to test multiple targets from each drill platform as the vein systems are spatially close and we will also able to test new targets between the veins. In addition, we are expecting the results from the winter geophysical program which will provide new data on the direction of the existing vein systems and potentially new vein systems. We look forward to our summer drill campaign".

A grid of cut lines totaling approximately 149 kilometres has been completed over the Golden Extension. Magnetic and VLF-electromagnetic surveys are in progress over the grid and are approximately 80 percent complete at this date.

Preliminary data from the magnetic and VLF surveys indicate that all the gold occurrences discovered to date are closely associated with magnetic high anomalies. Some of the gold-bearing veins and vein systems also correlate with VLF conductors, which are interpreted to reflect zones of shearing in the granodiorite host rock. In addition to magnetic and VLF anomalies associated with known gold occurrences, there are numerous anomalies that remain to be tested by prospecting and/or excavating.

The summer exploration program for the Jacobus East property will include excavating on anomalies defined by the magnetic and VLF surveys, as well as geological mapping and geochemical surveying. A 3,000 metre diamond drilling program is planned to commence in June and will be split into two phases. The first phase will target the high priority targets on Golden Extension. A later program, during the late summer or early Fall, will follow up on the June drilling and any new zones that are discovered throughout the summer prospecting and excavating work.

Sage has completed the winter stripping and trenching program and has suspended field operations during spring breakup. The Company intends to conduct a detailed mapping program of the Jacobus vein systems in order to establish the structural characteristics of the mineralization prior to drilling in the early summer. Drilling will commence once the geological mapping program is completed.

Sage also plans to continue prospecting, excavating and geological mapping on its other two key gold properties; Paint Lake and King Solomon Pillars. The press release of March 12, 2009 detailed the sampling results from both properties. The summer field work is aimed at developing drill targets for drilling during the winter of 2009/2010.

Technical Information

Sage's channel samples are between 3 and 4 cm wide and are cut with a motorized diamond saw to a depth of approximately 5 cm. The channels are cut as close to perpendicular to the strike of the vein as permitted by the rock surface. Samples are taken from the footwall, the vein and the hanging wall. Sample intervals are chosen to provide a representative sample of the surface mineralization of the vein and the wall rock. Assays reported in this news release were completed by Accurassay Labs in Thunder Bay. Accurassay's gold analysis is performed using a 30g fire assay charge. The fire assay procedure uses lead collection with a silver inquart. The beads are then digested and an atomic absorption or ICP finish is used. All gold assays that are greater than 10 g/t are re-assayed by fire assay with a gravimetric finish.

The technical content of this news release relating to the Jacobus East Golden Extension project has been reviewed by Sage's consulting Geologist Colin Bowdidge, Ph.D., P.Geo. who is a qualified person as defined by NI 43-101.

SAGE is a mineral exploration and development company which has interests in exploration properties in Ontario, Nevada and Arizona. Its main properties are the Jacobus, Paint Lake, Solomon Pillars and Onaman properties in the Beardmore Geraldton Gold Camp and the Kerrs property in Ontario. Technical reports relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.

For all Sage Gold Inc. Investor relations needs, investors are asked to visit the Sage Gold Inc. IR Hub at http://www.agoracom.com/IR/sagegold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to sgx@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

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

Some statements 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

or

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

www.sagegoldinc.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Assumptions:

Verification and Validation of Lynx geological database performed with Mapinfo Discover^TM software.

Mineral outlines / zone shapes / grade x thickness modeling exported to Encom Discover^TM 3D module in order to perform a cross-section polygonal check calculation.

CROSS-SECTION POLYGONAL MODEL: CHECK CALCULATION

Mineral outlines constrained by minimum true thickness equals 1.5m; grade x true thickness modeling of LX Zone used minimum true thickness of 3m @ cut-off grades of 0.5% Cu, 15 g Ag/T and 0.5 g Au/T.

Section widths from 15.5m to 50m with average section width equals 24.4m; Average true thickness of LX Zone equals3.37m; Section block volumes were weighted section by section; An average density (SG) of 3.31 was used.

ID3 GEOSTATISTICAL NI 43-101 MINERAL RESOURCE ESTIMATION

- 106 drillholes were utilized to interpolate five zones

- Drillholes were composited to the zone

- Sectional interpretations were wireframed to create 3D solids of the zones

- Zones were coded to the composites and the block model to constrain the modeling process

- Composites for each zone were used to interpolate into the blocks for those zones

- Inverse distance to the third power was utilized as the interpolator

- Decreasing ellipse sizes were employed to ensure the blocks were adequately formed

- Ellipse orientations were determined by orientation of zones

- A minimum of 2 composites were used for each block and a maximum of 2 composites were used per drillhole

- A cutting factor was applied for copper, gold and silver with high composites limited to 9% Cu, 3 g Au/T and 180 g Ag/T.

- A 0.5% Cu cut-off grade was used.

- Minesight^TM Software was used to perform the geostatistical modeling and estimations

- Tonnage comparisons with the sectional calculation check within a variance of +7%. Grade comparisons show an average variance of +16% for Cu, -6% for gold and +13% for Ag.

- Rounding factors have been applied to the tonnage and grade table.

Lersch-Grossman Pit Optimization techniques were utilized to evaluate the near surface potential of the resource that could be amenable to mining by open pit methods. The results indicate the potential for one pit located in the Lynx North area. Using cut-off grade sensitivity scenarios of 1% Cu and 0.5% Cu, conceptual geologic resources ranging from 485,000 tonnes at 2.1% Cu, 45.3 g Ag/T and 0.70 g Au/T to 845,000 tonnes at 1.55% Cu, 34.6 g Ag/T and 0.51 g Au/T could potentially be be mined from two tonnage blocks determined by the cut-off grades. Further work planned would involve metallurgical bulk testing, detailed specific gravity determinations and in-fill drilling to support a scoping study.

At Sage's request, HCG/KG conducted independent validation and verification of drill hole collars, borehole surveys, assay databases which are included in a NI43-101 technical report that will be published on SEDAR within 45 days. The geotechnical information in this press release was prepared and verified by Peter Hubacheck, P.Geo. and Garth Kirkham, P. Geo., who are qualified persons under NI 43-101 responsible for the mineral resource estimation contained in this release Garth Kirkham is the independant reviewer of the geotechnical data contained in this news release.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for minability, selectivity, mining loss and dilution. These mineral resource estimates include inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred mineral resources will be converted to indicated and measured mineral resource categories through further drilling, or into mineral reserves once economic considerations are applied.

SAGE is a mineral exploration and development company which has interests in exploration properties in Ontario, Nevada and Arizona. Its main properties are the Jacobus, Paint Lake, Solomon Pillars and Onaman properties in the Beardmore Geraldton Gold Camp and the Kerrs property in Ontario. Technical reports relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.

For all Sage Gold Inc. Investor relations needs, investors are asked to visit the Sage Gold Inc. IR Hub at http://www.agoracom.com/IR/sagegold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to sgx@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

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

Some statements 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Note the channel samples reported in this release are not of true width due to surface undulations.

Refer to www.sagegoldinc.com for a channel map and assay results to date of Vein 4 and Vein 2.

Technical Information

Sage's channel samples are between 3 and 4 cm wide and are cut with a motorized diamond saw to a depth of approximately 5 cm. The channels are cut as close to perpendicular to the strike of the vein as permitted by the rock surface. Samples are taken from the footwall, the vein and the hanging wall. Sample intervals are chosen to provide a representative sample of the surface mineralization of the vein and the wall rock. Assays reported in this news release were completed by Accurassay Labs in Thunder Bay. Accurassay's gold analysis is performed using a 30g fire assay charge. The fire assay procedure uses lead collection with a silver inquart. The beads are then digested and an atomic absorption or ICP finish is used. All gold assays that are greater than 10 g/t are re-assayed by fire assay with a gravimetric finish.

The technical content of this news release relating to the Jacobus East Golden Extension project has been reviewed by Sage's consulting Geologist Colin Bowdidge, Ph.D., P.Geo., who is a qualified person as defined by NI 43-101.

SAGE is a mineral exploration and development company which has interests in exploration properties in Ontario, Nevada and Arizona. Its main properties are the Jacobus, Paint Lake, Solomon Pillars and Onaman properties in the Beardmore Geraldton Gold Camp and the Kerrs property in Ontario. Technical reports relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.

For all Sage Gold Inc. Investor relations needs, investors are asked to visit the Sage Gold Inc. IR Hub at http://www.agoracom.com/IR/sagegold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to sgx@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

Some statements 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.

This release was prepared by management of the Company who takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

In an effort to keep you up to date on all pertinent information regarding the resource sector and more specifically gold bullion, please see the attached article titled “Hedge Fund Makes Headlong Rush into Gold.”

As the economic meltdown has worsened in recent weeks and months, firms such as Eton Park Capital Management LP, Greenlight Capital Inc. and Hayman Advisors LP have been boosting their exposure to the yellow metal. The investment funds are turning to gold as central banks around the world continue to print money in hopes of stimulating economic growth.

“As the world deals with the global economic crisis, the value of gold, as the only true ‘hard currency,' is coming to the fore as evidenced by the investment choices of some of the world's most seasoned investors,” AngloGold Ashanti Ltd. chief executive officer Mark Cutifani said yesterday.

Regards,

AGORACOM Investor Relations

Please click here to view article in its entirety.

Paint Lake Property

Sage has completed an extensive prospecting program on its optioned Paint Lake property in the Beardmore-Geraldton Gold Camp (BGGC). The Company has discovered two new zones of gold mineralization. One zone (SW zone) occurs 744 metres southwest of the stripped and sampled zone reported in the press release of August 25, 2008 (channel result 23.09 g Au/T over 0.4 metres). One grab sample from the Paint Lake Southwest Showing yielded 3.7 g Au/T Au. A second zone (SE zone) was discovered 640 metres southeast of the main stripped area. Grab samples from the Paint Lake Southeast Showing assaying greater than 1.0 g/t Au range from 1.1-2.4 g Au/T and average 1.7g Au/T. The mineralization is associated with quartz veins and silicified mafic tuffs.

Sage has completed an analysis of the historic drilling on the Paint Lake property. Metalore Resources drilled 34 holes between 1986 and 1989. The best results occur in the immediate area of the Sage stripping activity and include the following highlights:

550W-1 - 0.23m of 2.19 g Au/T, 0.50m of 2.40 g Au/t and 0.90m of 5.49 g Au/T

550W-2 - 0.3 m of 4.10 g Au/T and 1.2 m of 9.09 g Au/T

4W-2 - 1.5 m of 2.74 g Au/T, 0.25 m with 1.2 g Au/T and 0.43 m of 4.29 g Au/t

4W-3 - 0.5 m of 3.09 g Au/T and 0.6 m of 25.37 g Au/T.

2W-2 - 0.2 m of 12.68 g Au/T and 0.3 m of 2.40 g Au/T

The Paint Lake property is located contiguous to the western end of Ontex's Brookbank gold deposit which has 43-101 compliant inferred and indicated mineral resources. Ontex announced (12/18/08) a drill intersection of 85.9 g Au/T over 3.4 metres from drilling completed on the Brookbank deposit. Sage's new occurrence southwest of the original stripped area is 400 metres east of the property boundary and lies stratigraphically at the contact of the southern metavolcanics and the northern conglomerates within the Paint Lake shear zone. This structural and stratigraphic location is the host environment for both the Brookbank Gold deposit and Sage's original discovery on the Paint Lake property.

Sage intends to strip and channel sample the new zones in 2009.

King Solomon's Pillars Property

Sage has completed prospecting on the optioned Solomon's Pillars property. The Company has located two zones (North and South) of anomalous gold mineralization associated with quartz ankerite veining within oxide iron formation and associated metasediments. Grab samples from the King Solomon's Pillars northern showing assaying greater than 1.0 g Au/T range from 1.0-11.9 g Au/T and average 4.9 g Au/T. Grab samples from the King Solomon's Pillars southern showing assaying greater than 1 g Au/T range from 1.4-16.3 g Au/T and average 6.0 g Au/T.

Sage intends to trench and collect channel samples from the anomalous gold zones in 2009.

Headway - Onaman Property

Sage has completed surface prospecting and sampling of surface showings associated with the Headway Pb, Zn, Ag, Au zone. The 2008 sampling program yielded a number of high grade silver samples. Grab samples from a select group of 20 of the best samples yielded silver values ranging from 110-1050 g Ag/T (averaging 352.7 g Ag/T), gold values ranging from 0.1-3.9 g Au/T (averaging 1.0 g Au/T), Zn values ranging from 0.52-20.70 % (averaging 5.3 %) and Pb values ranging from 0.37-22.30 % (averaging 3.55 %). Cu values for these samples are generally less than 1 %.

The Headway zone is located approximately 250 metres northwest and stratigraphically above the Lynx zone on the Onaman property.

Assays reported in this news release were completed by ALS Chemex in Thunder Bay. Sample preparation was completed in the Thunder Bay facility of ALS Chemex and prepared samples were shipped to the ALS facility in Vancouver. The copper-silver-gold samples were assayed using induced coupled plasma (ICP) testing with a fire -assay finish for high grade precious metal samples and atomic absorption finish for high grade Cu, Zn and Pb samples.

The geotechnical content of this news release relating to the BGGC project has been reviewed by Peter Hubacheck, P.Geo. A.P.G.O., who is a qualified person as defined by NI 43-101.

SAGE is a mineral exploration and development company which has interests in exploration properties in Ontario, Nevada and Arizona. Its main properties are the Jacobus, Paint Lake, Solomon Pillars and Onaman properties in the Beardmore Geraldton Gold camp and the Kerrs property in Ontario. Technical reports relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.

For all Sage Gold Inc. investor relations needs, investors are asked to visit the Sage Gold Inc. IR Hub at http://www.agoracom.com/IR/sagegold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to sgx@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

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

Some statements 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

or

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

Website: www.sagegoldinc.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Regards,

AGORACOM Investor Relations

In an effort to keep you up to date on all pertinent information regarding the resource sector and more specifically gold bullion, please see the attached industry bulletin titled, “Hedge fund investors turn to gold in bet against central banks.”

Investors such as Mr Einhorn are turning to gold because they are worried about the response of the US Federal Reserve and other central banks to the economic crisis. A bet on gold is a bet against paper currencies.

"The size of the Fed's balance sheet is exploding and the currency is being debased. Our guess is that if the chairman of the Fed is determined to debase the currency, he will succeed," Mr Einhorn wrote to investors.

Regards,

AGORACOM Investor Relations

Please click here to view article in its entirety.

Chairman of Seabridge Gold

There are about 5 billion ounces of above ground gold supply worth about USD 5 trillion at current prices. Less than 5% trades annually. The above ground gold supply is growing at about 1.5% annually, the 300 year average.

New gold supply is price inelastic. If you double the gold price, production will fall as miners extend precious mine life by processing lower grades through fixed rate capacity. Building new capacity is the work of decades. Re-opening old mines is difficult and expensive and there are few worthwhile opportunities which have not been exploited. Meanwhile, discovery rates are declining, discovery costs are rising, mines are depleting and production is falling at about 5% per year. The world's best gold deposits have been found and mined.

Gold's highest and best use is in a vault as a store of value. It is not a commodity. Jewelry 'consumption' of gold is a traditional store of value. The industrial/medical uses of gold are diminimus. If gold had important other uses, there would be less of it and the price would be lower because it would be valued as a commodity subject to substitution effects. No other substance has the unique properties and a supply sufficient to act as an ultimate store of value which is why gold has had this role for at least 6000 years.

Gold is therefore a financial asset in physical form and sometimes a currency. It goes up in price when confidence in other financial assets [stocks, bonds] is falling and falls when confidence in these alternatives is rising.

Other financial assets have the advantages of convenience and income. Gold's advantage is that it is final settlement anywhere in the world. Gold backs itself whereas other currencies and financial assets merely represent, and depend upon, the countries and companies which issue them and stand behind them. Gold is a currency without a country or central bank...there is no issuer to inflate supply or default on its obligations.

There are approximately USD 140 trillion in other financial assets world-wide so the current value of above ground gold is about 4% of this total. In 1980, when inflation weakened confidence in stocks and bonds, the ratio was greater than 25%. It currently requires about 8 ounces of gold to buy the Dow, down from 44 in 1999. In 1980, the ratio reached 1 to 1.

Gold has no P/E or other standard valuation metric. Its price can go where the market decides. How much will the owners of USD 140 trillion in financial assets pay to protect themselves from deflation, inflation or default?

James S. Anthony
February 13, 2009

Sage Gold Inc (TSX VENTURE:SGX) has received further channel sampling results from Vein 4 of the Golden Extension discovery in the Beardmore-Geraldton Gold Camp (BGGC) including 93.72 g Au/T over a channel width of 0.4 metres. The Golden Extension discovery is located immediately northwest and on strike with Kodiak Exploration Ltd's Golden Mile discovery.

Highlights - Vein 4

- Visible gold present in northwest trending quartz veins and in the silicified pyritic wall rocks

- New channel results - 93.72 g Au/T over a channel width of 0.4 metres

- Contact zone - intrusion and volcanic - Extensive Quartz Stockwork with mineralized wall rock

- Vein exposed over a strike length of 80 metres

Channel and Grab Sample Results --Vein 4 Highlights

Refer to www.sagegoldinc.com for a channel map of Vein 4.

These results occur within the northwestern extension of Vein 4 within an area that was previously covered by water. The winter conditions allow the operator to remove the ice from the vein system which can then be sampled. Visible gold is present both within discrete quartz veins and within silicified mafic volcanic wall rocks. It is apparent that the stripped area now encompasses the contact zone between the Elmhirst intrusion and the surrounding volcanics. Quartz veins are present as multiple northwest trending veins and as interstitial ladder veins within altered pyritic silicified volcanics. The volcanic material yielded good gold values such as channel 176 which assayed 50.64 g Au/T (press release of January 26, 2009).

Sage continues to strip and sample multiple gold bearing vein structures which are both parallel and cross cutting the original discovery of Vein 1. Stripping and trenching continues in a Northwest direction on Vein 4.

The Company expects to complete magnetometer and VLF (very low frequency) survey over the eastern side of the Jacobus property before the spring. The trenching and geophysical programs will provide surface sampling and structural data to allow for the generation of drill targets for drilling during the summer season.

Sage has also received results from an airborne VTEM (versatile time domain electromagnetic) and magnetometer survey conducted during June and July of 2008. The survey encompasses all of the Sage property in the Beardmore- Geraldton Gold Camp except the original Onaman and Jacobus property blocks which were flown by Fugro Airborne Surveys in October 2007. Initial inspection of the data set reveals an abundance of magnetic and EM anomalies. Sage intends to ground truth the anomalies during the summer season.

Technical Information

Sage's channel samples are 4cm wide and are cut with a motorized circular saw to a depth of 22 cm and removed with a hammer. The channels are cut perpendicular to the strike of the vein. Samples are taken from the footwall, the vein and the hanging wall. Sample intervals are defined to provide a representative sample of the surface mineralization of the vein and the wall rock. Assays reported in this news release were completed by Accurassay Labs in Thunder Bay. Accurassay's gold analysis is performed using a 30g fire assay charge. The fire assay procedure uses lead collection with a silver inquart. The beads are then digested and an atomic absorption or ICP finish is used. All gold assays that are greater than 10 g/t are re-assayed by fire assay with a gravimetric finish.

The geotechnical content of this news release relating to the BGGC project has been reviewed by Peter Hubacheck, P.Geo. A.P.G.O, who is a qualified person as defined by NI 43-101.

SAGE is a mineral exploration and development company which has interests in exploration properties in Ontario, Nevada and Arizona. Its main properties are the Jacobus, Paint Lake, Solomon Pillars and Onaman properties in the Beardmore Geraldton Gold Camp and the Kerrs property in Ontario. Technical reports relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.

For all Sage Gold Inc. Investor relations needs, investors are asked to visit the Sage Gold Inc. IR Hub at http://www.agoracom.com/IR/sagegold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to sgx@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

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

Some statements 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
(416) 260-2243 (FAX)

or

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

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Sage Gold will be exhibiting at the 2009 PDAC conference at booth number 2347 on Level 800 (Investor Exchange).

Click here for virtual PDAC.