Sage Gold Inc. Announces Private Placement

TORONTO, ONTARIO--(Marketwired - April 30, 2013) - Sage Gold Inc. ("Sage" or the "Company") (TSX VENTURE:SGX) is pleased to announce that it intends to complete a non-brokered private placement for gross proceeds of $700,000 (the "Offering"). The Offering will consist of the sale of 16,666,666 common shares (each, a "Common Share") at $0.03 per Common Share and the sale of 4,000,000 flow-through units ("FT Units") at $0.05 per FT Unit. Each FT Unit will consist of one Common Share issued on a flow-through basis and one-half (1/2) of one Common Share purchase warrant of the Company (a "Warrant"). Each whole Warrant shall entitle the holder to purchase one Common Share at a price of $0.05 for a period of 12 months following the closing date of the Offering.

The Company intends to use the net proceeds of the Offering to maintain the Company's assets, for debt repayment and working capital purposes. Completion of the Offering is subject to the receipt of all necessary approvals including the approval TSX Venture Exchange ("TSXV"). Namely, approval of the sale of the Common Share portion of the Offering is being sought pursuant to the TSXV's Notice to Issuers dated April 12, 2013, regarding the Extension and Modification of Temporary Relief from Certain Pricing Requirements.

All securities issued pursuant to the Offering will be subject to a statutory four-month and one day hold period.

About Sage

Sage is a mineral exploration and development company which has primary interests in near-term production and exploration properties in Ontario. Its main properties are the Clavos Gold deposit in Timmins and the Lynx deposit and other exploration properties in the Beardmore-Geraldton Gold Camp. Technical reports and information relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com and www.sagegoldinc.com.

CAUTIONARY STATEMENT: Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, future plans and objectives of Sage, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Sage's expectations are the risks detailed herein and from time to time in the filings made by Sage with applicable securities regulators.