Sage Gold Inc.
TSX VENTURE : SGX

Sage Gold Inc.

February 26, 2009 09:35 ET

Sage Gold Inc.: 93.72 g Au/T-Channel Sample at Golden Extension Discovery Beardmore-Geraldton Gold Camp

TORONTO, ONTARIO--(Marketwire - Feb. 26, 2009) -

Golden Extension - Jacobus East

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

---------------------------------------------------------------------------
Channel Width Grade
----------------------------------------------
No (m) (grams Au/tonne) Description
---------------------------------------------------------------------------
167 0.40 20.10 quartz vein
---------------------------------------------------------------------------
168 0.30 45.42 quartz vein
---------------------------------------------------------------------------
169 0.10 2.84 quartz vein
---------------------------------------------------------------------------
169 1.00 1.22 quartz vein and chlorite
---------------------------------------------------------------------------
170 0.50 1.40 quartz vein
---------------------------------------------------------------------------
171 0.50 39.88 quartz vein
---------------------------------------------------------------------------
175 0.60 6.12 quartz vein
---------------------------------------------------------------------------
176 0.50 50.64 volcanic
---------------------------------------------------------------------------
176 0.80 8.67 quartz vein and diorite
---------------------------------------------------------------------------
177 0.40 43.07 quartz vein
---------------------------------------------------------------------------
180 0.40 1.04 quartz vein
---------------------------------------------------------------------------
230 0.40 1.09 quartz vein
---------------------------------------------------------------------------
231 0.40 23.71 quartz vein
---------------------------------------------------------------------------
232 0.50 1.64 quartz vein and chlorite
---------------------------------------------------------------------------
233 0.30 4.97 quartz vein
---------------------------------------------------------------------------
230 - Grab 58.91 quartz vein
---------------------------------------------------------------------------
230 - Grab 7.63 quartz vein
---------------------------------------------------------------------------
230 - Grab 7.72 quartz vein
---------------------------------------------------------------------------
234 0.40 1.27 quartz vein
---------------------------------------------------------------------------
234 0.40 1.54 quartz vein
---------------------------------------------------------------------------
242 -- Grab 53.14 quartz vein
---------------------------------------------------------------------------
242 - Grab 9.61 quartz vein
---------------------------------------------------------------------------
235 1.00 1.78 quartz vein and chlorite
---------------------------------------------------------------------------
231 - Grab 46.28 quartz vein
---------------------------------------------------------------------------
231 - Grab 27.48 quartz vein
---------------------------------------------------------------------------
236 0.70 7.85 quartz vein
---------------------------------------------------------------------------
237 0.30 3.07 quartz vein
---------------------------------------------------------------------------
238 0.60 5.52 quartz vein
---------------------------------------------------------------------------
239 0.30 3.15 quartz vein
---------------------------------------------------------------------------
239 0.20 7.68 quartz vein
---------------------------------------------------------------------------
240 1.20 31.63 quartz vein
---------------------------------------------------------------------------
Includes(i) 0.40 93.72 quartz vein
---------------------------------------------------------------------------
241 0.30 2.06 quartz vein
---------------------------------------------------------------------------
241-grab 146.58 quartz vein
---------------------------------------------------------------------------
241-grab 137.51 quartz vein
---------------------------------------------------------------------------
242 0.80 5.15 quartz vein
---------------------------------------------------------------------------

(i) not a true width due to surface undulations

Note - Channels 167- 180 were disclosed in the Press Release of
January 26/09.


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.

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