Sage Gold Inc.
TSX VENTURE : SGX

Sage Gold Inc.

June 17, 2009 08:00 ET

Sage Gold Inc.: 22.77 g Au/T Channel Result New Gold Veins-Paint Lake

TORONTO, ONTARIO--(Marketwire - June 17, 2009) - Sage Gold Inc (TSX VENTURE:SGX) has discovered nine new gold veins on the Paint Lake property in the Beardmore Geraldton Gold camp. Vein 1 results were reported in the press release of August 25, 2008. Selected highlights of the current sampling are detailed below:



- Vein 10 - channel samples - 22.77 g Au/T over 0.40 metres

22.16 g Au/T over 0.40 metres

14.45 g Au/T over 0.45 metres

16.69 g Au/T over 0.55 metres

- Vein 7 - channel samples - 12.54 g Au/T over 0.20 metres

grab samples 26.06 g Au/T

20.37 g Au/T

34.66 g Au/T
Channel Results are not true widths due to surface undulations.

- Veins 1,7,8 and 10 - 1.3 kilometres strike length
- Vein 4 - exposed over 100 metres of strike length - veins up to 2 metres
in width.
- Drilling planned for late Fall 2009
- Paint Lake property is contiguous to Ontex's Brookbank gold deposit.


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.

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

Contact Information

  • 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