Sage Gold Inc.
TSX VENTURE : SGX

Sage Gold Inc.

April 24, 2008 14:30 ET

Sage Gold Inc.: 1.38 oz/t-New Gold Zone-Gold Hill-Arizona

TORONTO, ONTARIO--(Marketwire - April 24, 2008) - Sage Gold Inc. (TSX VENTURE:SGX) has completed six drill holes and received assays for four of these holes on the Gold Hill property located in Maricopa County, Arizona. The company has completed 3,694 feet of its 9,000 foot diamond drill program.

The Gold Hill area encompasses the Main East Vein and the Old Coup vein. The vein systems are related to northwest-southeast trending fault systems that transects the quartz monzonite and the surrounding schists. The Main East vein was developed through a 550 foot haulage level, four additional levels and a underhanded winze that was driven approximately 75 feet below the main haulage level. The Old Coup zone is located parallel and 600 feet (183 metres) south of the Main East Vein.

Drill hole GH-08-02 was targeted to test the recently discovered Old Coup zone. The zone occurs at or near the contact between xenoliths and/or intrusive wallrock of slatey schists and the quartz monzonite sill. Mineralization is associated with hematized quartz vein breccias that are present near the southwest contact and also extend into the quartz monzonite. Coarse visible gold was encountered at the 200 foot level in the second hole yielding an intersection of 1.38oz/t(47.31g/T) over 3.2 feet. This drill hole confirms the lateral extent of the underground sampling of the Old Coup zone where gold values ranging from 0.22oz/t (7.51g/T) to 0.39oz/t (13.3 g/T) occur in channel samples from 120 feet to 145 feet east of the portal. The zone has been traced through underground channel samples and the intersection in the second drill hole over a strike length of 85.3 feet.



Old Coup Zone - Drill Intersection GH-08-02 and Underground Channel Results
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LOCATION FROM(ft) TO(ft) GRADE GRADE True Width True Width
Au (oz/t) Au (g/T) (Feet) (Metres)
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GH-08-02 198 202 1.38 47.31 3.2 0.98
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67705 3.5 0.22 7.51 3.5 1.07
channel
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67706 4.4 0.35 12.03 4.4 1.34
channel
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67707 4.0 0.39 13.3 4.0 1.22
channel
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Note - the samples 67705, 67706, 67707 were previously disclosed
(Press Release February 29, 2008). The channel widths were
incorrectly reported in the release of February 29 and have been
restated above.


Nigel Lees stated that "the intersection in GH-08-02 confirms the high grades encountered in the underground sampling of the Old Coup zone. These high grade vein structures have never been drilled. We are testing a number of vein structures through the current drill program with the aim of identifying additional strike length and dip extensions."

GH-08-01 was designed to test the down dip extension of the main east vein system. A hematized vein breccia structure was intercepted from 693 feet to 717 feet. This zone is characterized by a high strain zone producing a brecciated fabric with pervasive hematized breccia in-filling and seams. Some quartz stringers are present as well as serpentinized fracture surfaces. GH-08-01 has tested and confirmed that the main deformation zone extends well below creek level and approximately 350 feet below the historical winze workings. There were no anomalous gold values in this hole. GH-08-03 was drilled as a fifty foot step from GH-08-02. GH-08-04 was collared 328 feet northeast of GH-08-03. GH-08-03 intersected 0.073 oz Au/t (2.5g Au/T) over 2 feet. GH-08-04 intersected the Old Coup zone between 201 to 207 feet with anomalous gold values of between 0.011oz/t (0.377g/T) to 0.020oz/t (0.686g/T).

GH-08-05 was drilled as a vertical hole to test the strike extension of the Old Coup zone. Visible gold was observed in the upper part of the hole and assays are pending. GH-08-06 was drilled to test the main east vein and has intersected the main vein system at a downhole depth of 499-528 feet. Assays are pending.

Sage has exercised an option to acquire a 50% interest in the property having spent U.S.$250,000 in exploration expenditures in the prior year. After earning its option expenditures will be equally shared between Sage and the property vendor.

The channel and core samples were crushed and pulped by Jacobs Laboratories in Tucson, Arizona. The sample weights have been increased to a two assay ton (60 grams). The samples have been subject to standard fire assay.

The geological material in this release has been reviewed by Peter Hubacheck, P. Geo. A.P.G.O; #1059 P. Geol. A.P.E.G.G.A #33789 a qualified person as defined by NI 43-101 regulations.

SAGE is a mineral exploration and development company which has principal interests in exploration properties in Ontario, Nevada and Arizona. Its main properties are the Jacobus, Onaman and Kerrs properties in Ontario, the Sugarloaf and Pony Spur properties situated in Nevada, and the Gold Hill and Big Bend gold properties 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.

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)
    Website: www.sagegoldinc.com