Sage Gold Inc.

Sage Gold Inc.

September 19, 2007 12:10 ET

Sage Closes Private Placement with MineralFields

TORONTO, ONTARIO--(Marketwire - Sept. 19, 2007) - Sage Gold (TSX VENTURE:SGX) is pleased to announce that it has closed a non-brokered private placement with the MineralFields Group for Cdn $300,000 of flow-through units @ $0.16 per unit. Each unit consists of one flow- through common share and one-half of one warrant exercisable at $0.22 for 18 months.

First Canadian Securities®, a division of Limited Market Dealer Inc was paid a finder's fee of 6% in cash together with options, on the same terms as the subscriber's units, equal to 8% of the units sold pursuant to the offering.

If the Company's common shares achieve a closing price of $0.28 or higher for a period of 21 consecutive days, the Company may notify the warrant holders that all unexercised warrants will expire in 30 days following the date that the notice is issued.

All securities are subject to a four month hold period which expires on January 19, 2008.

The net proceeds of the private placement will be used to fund the Company's exploration programs in Canada.

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at First Canadian Securities®, a division of Limited Market Dealer Inc., is active in leading resource financings (both flow-through and hard dollar)on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields Group.

SAGE is a mineral exploration and development company which has interests in exploration properties in Ontario, Quebec, Nevada and Arizona. Its main properties are the Kerrs, Onaman, and Jacobus properties in Ontario, the Dixie Fork, Triple Junction, Pony Spur and Dike properties situated in Nevada, and the Big Bend gold property, located in Arizona. Technical reports relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at

For all Sage Gold Inc. investor relations needs, investors are asked to visit the Sage Gold Inc. IR Hub at 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 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.

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