Sage Gold Inc.
TSX VENTURE : SGX

Sage Gold Inc.

March 19, 2009 08:30 ET

Sage Gold's Golden Extension Discovery Additional High Grade Results

Golden Extension-Jacobus East

TORONTO, ONTARIO--(Marketwire - March 19, 2009) - Sage Gold Inc (TSX VENTURE:SGX) has received additional channel and grab sample results from Vein 2 and Vein 4 of the Golden Extension in the Beardmore-Geraldton Gold Camp. Sage reported (February 26, 2009) channel results from Vein 4 of 93.72 g Au/T over a channel width of 0.4 metres. Additional results from Vein 4 include a channel sample of 11.15 g Au/T over 0.3 metres. Sage's Golden Extension discovery is located immediately northwest of Kodiak Exploration Ltd's Golden Mile discovery.

Highlights

- Vein 4 - channel samples - 11.15 g Au/T over 0.3 metres and 9.51 g Au/T, over 0.20 metres

- Vein 4 grab sample of 259.99 g Au/T; grab samples range from 1.7 g Au/T to 259.99 g Au/T with an overall average of 75.83 g Au/T

- Vein 2 - channel samples of 8.21 g Au/T and 7.29 g Au/T over 0.50 metres

Vein 4 has now been exposed and sampled a total length of 83 metres. Over most of its length, it consists of a single quartz vein in granodiorite. At the western end of the trenched area, the single vein feathers out into a series of at least four separate veins and stringers in a 2.5 metre width of sheared mafic volcanic rocks, at the contact between volcanic and granodiorite country rocks. Each individual quartz vein and stringer is mineralized with pyrite and visible gold. Vein 4 was exposed as far as possible to the west until the overburden became too deep.

To date, Vein 4 is by far the strongest mineralized quartz vein emanating from Sage's initial discovery. Meanwhile, SAGE's prospecting team discovered a new vein, Vein 9; 300 metres to the west-northwest of Vein 4. Assays from Vein 9 will be reported shortly in a separate news release.



Channel and Grab Sample Results -Vein 2 and Vein 4 Highlights
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Width Au Grade
Location Channel / -------------------- Description Note
Grab m g/T
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Jacobus 230- channel (i) 0.40 1.09 Quartz vein
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Vein 4 230 -grab (i) 58.91 Quartz vein
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230 -grab (i) 7.63 Quartz vein
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230- grab (i) 7.72 Quartz vein
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230- grab 6.56 Quartz vein
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230- grab 1.70 Quartz vein
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230 -grab 22.54 Quartz vein
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231- grab (i) 27.48 Quartz vein
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231- grab 1.83 Quartz vein
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231- grab 9.05 Quartz vein
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231- channel (i) 0.40 23.71 Quartz vein
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232- channel (i) 0.50 1.64 Quartz vein
and volcanics
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235- channel (i) 1.00 1.78 Quartz vein
and volcanics
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231- grab (i) 46.28 Quartz vein
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233- channel (i) 0.30 4.97 Quartz vein
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236- channel (i) 0.70 7.85 Quartz vein
------------------------------------------------------
234- channel 0.80 1.41 Quartz vein Weighted
and volcanics average
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237- channel 0.30 4.05 Quartz vein
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238- channel 0.60 6.66 Quartz vein
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241- channel 0.80 4.69 Quartz vein Weighted
and granodiorite average
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241- channel (i) 0.30 2.06 Quartz vein
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241- grab 235.96 Quartz vein
------------------------------------------------------
242- channel 0.50 5.96 Quartz vein
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242- channel 0.30 1.76 Quartz vein
and volcanics
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240- channel (i) 0.40 93.72 Quartz vein
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242- grab (i) 53.14 Quartz vein
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242- grab (i) 9.61 Quartz vein
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239- channel (i) 0.30 3.15 Quartz vein
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239- channel (i) 0.20 7.68 Quartz vein
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239- channel 0.20 9.51 Quartz vein
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246- channel 0.50 2.35 Quartz vein
and volcanics
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246- channel 0.30 11.15 Quartz vein
and volcanics
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239- grab 207.91 Quartz vein
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239 -grab 142.15 Quartz vein
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239- grab 259.99 Quartz vein
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grab 1.97 Quartz vein
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245- channel 0.60 3.17 Quartz vein
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grab 193.77 Quartz vein
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Jacobus 113- channel 0.50 3.73 Quartz vein from 2008
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Vein 2 108- channel 0.40 3.42 Quartz vein
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109- channel 0.50 7.09 Quartz vein
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247- channel 0.50 8.21 Quartz vein Weighted
and granodiorite average
----------------------------------------------------------------------------
(i) Assays previously reported.


Note the channel samples reported in this release are not of true width due to surface undulations.

Refer to www.sagegoldinc.com for a channel map and assay results to date of Vein 4 and Vein 2.

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 Jacobus East Golden Extension project has been reviewed by Sage's consulting Geologist Colin Bowdidge, Ph.D., P.Geo., 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.

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.

This release was prepared by management of the Company who takes full responsibility for its contents. 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