Sage Gold Inc.
TSX VENTURE : SGX

Sage Gold Inc.

August 14, 2008 12:42 ET

Sage Gold Inc.: 2.23% Cu, 0.75g Au/T, 55g Ag/T Over 11.27 Metres- Drill Results- Lynx

TORONTO, ONTARIO--(Marketwire - Aug. 14, 2008) - Sage Gold Inc. (TSX VENTURE:SGX) -

A total of 15,358 metres (m) in 71 holes has been drilled to date in 2008 on the Lynx Zone, Onaman Property in the Beardmore Geraldton Gold Camp (BGGC). Assays are pending on 9 holes.

Highlights

- All recent drill holes (34 holes) are mineralized with copper intersections varying from 0.75% to 11.36%, silver from 18g/T to 264 g/T and gold from 0.10g/T to 2.39g/T

- Drill intersections vary in width from 1.22 metres to 13.60 metres.

- The Lynx North, Central and South zones are joined.

- Three new parallel zones have been discovered in addition to the main zone.

- An Independent Engineering Firm has been retained.

- Mineralization is open to the south and north and at depth.



The table below lists a summary of recent highlighted assays:

----------------------------------------------------------------------------
Drill
Intercept
Drill From To m (True Cu Ag Au
Hole m m Widths m) % g/T g/T
----------------------------------------------------------------------------
S08-17 131.75 136.10 4.35(3.98) 1.34 23 0.30
----------------------------------------------------------------------------
157.30 168.40 11.10 (9.86) 1.29 24 0.36
----------------------------------------------------------------------------
Including 157.30 159.30 2.00 2.81 65 0.77
----------------------------------------------------------------------------
Including 165.90 168.40 2.50 2.03 28 0.35
----------------------------------------------------------------------------

----------------------------------------------------------------------------
S08-19 236.00 242.20 6.20 (5.57) 1.69 37 0.87
----------------------------------------------------------------------------
Including 241.00 242.63 1.63 4.02 95 2.18
----------------------------------------------------------------------------

----------------------------------------------------------------------------
S08-75 64.47 68.72 4.25 (2.79) 0.75 18 0.57
----------------------------------------------------------------------------
228.15 233.00 4.85 (3.27) 1.69 129 0.95
----------------------------------------------------------------------------
Including 228.88 231.20 2.32 3.05 242 1.85
----------------------------------------------------------------------------

----------------------------------------------------------------------------
S08-69 164.53 166.20 1.67 (1.35) 1.60 35 0.17
----------------------------------------------------------------------------
174.50 181.36 6.86 (6.80) 1.20 31 0.21
----------------------------------------------------------------------------

----------------------------------------------------------------------------
S08-73 28.60 34.80 6.20 (5.26) 2.04 44.5 0.68
----------------------------------------------------------------------------
Including 30.50 32.50 2.00 4.30 93 0.76
----------------------------------------------------------------------------
49.70 63.30 13.60 (11.27) 2.23 55 0.75
----------------------------------------------------------------------------
Including 49.70 53.50 3.80 6.81 166 2.39
----------------------------------------------------------------------------

----------------------------------------------------------------------------
S08-68 34.50 45.60 11.10 (9.00) 0.79 18 0.10
----------------------------------------------------------------------------
57.00 65.40 8.40 (6.80) 1.22 30 0.32
----------------------------------------------------------------------------
Including 57.00 58.10 1.10 5.32 117 1.60
----------------------------------------------------------------------------

----------------------------------------------------------------------------
S08-25 124.90 128.60 3.70 (3.26) 0.87 22.5 0.10
----------------------------------------------------------------------------
163.90 165.40 1.50 (1.36) 3.53 75 2.02
----------------------------------------------------------------------------

----------------------------------------------------------------------------
S08-63/1 218.70 228.40 9.70 (7.9) 1.37 91 0.15
----------------------------------------------------------------------------

----------------------------------------------------------------------------
S08-74 19.40 25.05 5.65 (4.38) 0.91 23 0.35
----------------------------------------------------------------------------
72.73 74.84 2.11 (1.69) 5.67 137 0.22
----------------------------------------------------------------------------
Including 72.73 73.73 1.00 11.36 264 0.39
----------------------------------------------------------------------------
160.28 161.50 1.22 (0.89) 0.79 26 0.48
----------------------------------------------------------------------------

----------------------------------------------------------------------------
S08-55 45.4 47.81 2.41 (2.10) 2.05 61 0.48
----------------------------------------------------------------------------
52.45 53.02 0.57 (0.50) 1.17 62 0.21
----------------------------------------------------------------------------
67.26 67.77 0.51 (0.45) 1.18 20 0.74
----------------------------------------------------------------------------

----------------------------------------------------------------------------
S08-83 99.8 112.00 12.20 (9.5) 1.86 35 0.23
----------------------------------------------------------------------------
Including 99.8 103.37 3.57 4.40 78 0.19
----------------------------------------------------------------------------
160.27 162.53 2.26 (1.8) 1.46 63 0.16
----------------------------------------------------------------------------

An assay table with all of the results to date will be available at
www.sagegoldinc.com.


During 2008, work on the Lynx zones has been reported in news releases dated 18 January, 29 February, 3 April and 28 May. The press release of May 28, 2008 included the results for 18 holes, with a highlight being hole S08-52 which intersected with 10.89% Cu, 8.2 g Au/T and 318 g Ag/T over 2.72 metres.

The Lynx zones consist of a main horizon, and up to three parallel horizons in a stratigraphic package which has been traced by drilling, outcrop mapping, airborne and ground geophysical surveys for a strike length in excess of one kilometre. Drilling has shown that three mineralized areas (Lynx #2, #3 and #1, renamed Lynx North, Central and South) are in fact joined. The northern and the southern limits have not been defined. Geophysical and geological data indicate continuity of the mineral-bearing stratigraphy with no major structural disruption apparent over several kilometres both to the north and south.

The Lynx mineralization consists predominantly of massive to semi-massive pyrrhotite and chalcopyrite in a matrix of quartz, chlorite and carbonate. Argentite, native silver, native copper and bismuth have been identified. The mineralization represents chemically distinctive strata that formed by chemical precipitation from palaeo-seafloor hydrothermal vent sites, in a thick sequence of pillow and massive basalts and tuffaceous and ash pyroclastic equivalents.

Big M - Onaman Property

The Big M target comprises both quartz vein hosted gold occurrences and a volcanogenic massive sulphide exhalative component. The target area is located west of the Lynx horizon and has been developed through channel sampling and drilling. The highlights of this work included one channel sample which yielded 5.14 g Au/T over a channel length of 1.0 m and one hole drilled along strike of the channel which returned an intersection of 2.44 g Au/T over 4 m true width in a calcareous felsic crystal tuff. Three further holes were drilled along strike, along a north-south trending contact within a massive pyritic tuff and failed to intersect significant mineralization. Sage has completed geological mapping on the Big M and is evaluating further work on this target.

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 couple 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 BGGC project is supervised by Exploration Geoscience Associates of Orillia, under the direction of Ulrich Kretschmar, Ph.D, P.Geo (APGO #1160). Dr. Kretschmar has extensive mineral exploration experience in Archean terrain, is a qualified person as defined by NI 43-101 and is responsible for the technical content of this news release.

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

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