Sage Gold Inc.
TSX VENTURE : SGX

Sage Gold Inc.

November 26, 2007 14:41 ET

Sage Options Four Properties-Beardmore Geraldton Camp

TORONTO, ONTARIO--(Marketwire - Nov. 26, 2007) - Sage Gold Inc. (TSX VENTURE:SGX) ('Sage') has acquired options on four additional properties in the Beardmore Geraldton camp.

1. Paint Lake Option Agreement: The property consists of leases encompassing 9 claims located in the Townships of Irwin and Walters, Ontario. The consideration for earning a 100% ownership interest in the property includes the issuance of a total of 200,000 treasury common shares of Sage plus total cash payments of $75,000 The cash and share disbursements are distributed over a three (3) year period. Lynx Canada reported (Northern Miner October 3, 1974) results for two drill holes of 20 feet of core length of 0.24 oz gold per ton and 5.7 feet of core length averaging 0.30 oz gold per ton respectively. The gold occurs within a strong brecciated zone over a strike length of 3,000 feet. The property is contiguous with the eastern boundary of the Brookbank gold deposit which contains a NI 43-101-compliant indicated and inferred mineral resource of 2.6 million tonnes, grading 7.4 grams per tonne gold, containing 629,900 ounces of gold.

2. King Solomon's Pillars Option Agreement: The property consists of leases encompassing 18 claims covering 282 hectares of land and land under water located in the Township of Walters, Ontario. The consideration for earning a 100% ownership interest in the property includes the issuance of a total of 180,000 treasury common shares of Sage and total cash payments of $60,000. The cash and share disbursements are distributed over a three year period. The geology of the property comprises an east - west striking band of Timiskaming sediments with an interbanded iron formation. Gold is associated with arsenopyrite within or adjacent to the iron formation.

3. Missing Link Option Agreement: The property consists of 12 claims located in the Townships of Lapierre and Legault, Ontario. The consideration for earning into a 100% ownership interest in the property includes the issuance of a total of 250,000 treasury common shares of Sage plus total cash payments of $78,200. The cash and share disbursements are distributed over a three (3) year period. The property has been stripped, trenched by the vendors and the best channel samples yielded 0.11 oz of gold per ton over 3.28 feet and 0.58 of gold per ton over 1.31 feet.

4. Cote Two Rivers Option Agreement - The property consists of sixty (60) units consisting of five claim blocks located in Coughlan and Castlewood Lake areas north of Beardmore Ontario. The option agreement defines that Sage can earn into a 100% ownership interest in the property by making a total of $85,000 in cash payments and issuing $65,000 of share consideration over the first four years of the agreement and by making a final payment of $75,000 in a mixture of cash and shares in the fifth year. The Cote property is located to the northwest of the Sage Onaman copper-gold Project area in a stratigraphically higher sequence of pillow basalts. The property displays wide-spread VMS base-metal mineralization, associated alteration features as well as vein gold mineralization.

Completion of the transactions and the issue of the treasury common shares referred to herein are subject to regulatory approval.

Nigel Lees, President and CEO, stated; "Sage is pleased to add these properties to its portfolio which includes the Jacobus Nickel-Copper-Gold and the Onaman VMS properties. Historical information on the new claims indicates high gold grades over significant widths in drill hole intercepts. Renewed interest in the Beardmore area is being driven by high gold prices, recent excellent exploration results, as well as new insights into modes of gold mineralization. Sage is pleased that we are also at the forefront of developments in the Beardmore Geraldton gold camp. During 2008 we will conduct an aggressive exploration and drill program on the new properties".

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 Dixie Fork, Triple Junction, Pony Spur and Dike 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.

Dr Ulrich Kretschmar Ph.D (APGO #1160) is a qualified person as defined by NI 43-101. He is responsible for the technical content of this news release.

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)
    Website: www.sagegoldinc.com