NSG New Sage Energy Corp.

New Sage Energy Corp. (TSX VENTURE:NSG) ("New Sage" or the "Corporation") announces that, further to its previously issued press release on October 25, 2011, New Sage intends to complete a private placement offering (the "Offering") of up to 12,000,000 units of the Corporation ("Unit") at a price of $0.05 per Unit for gross proceeds of up to $600,000. Each Unit will consist of one common share in the capital of the Corporation ("Common Share") and one share purchase warrant ("Warrant"), with each whole Warrant entitling the holder thereof to purchase one Common Share at a price of $0.10 per share for a period of two (2) years from the date of closing.

The Corporation intends to use the net proceeds from the Offering for exploration on new projects, acquisitions and development, general working capital and the payment of expenses related to the Offering.

Completion of the Offering will be subject to certain conditions precedent including, but not limited to, the receipt of all necessary approvals, including the approval of TSX Venture Exchange Inc.

The Common Shares and Warrants will be subject to a four-month hold period, in accordance with applicable securities law.

The Corporation may pay a commission or finder's fee to registered holders and other finders of to up to 7% of the gross proceeds of the Offering, subject to compliance with applicable securities laws. The Corporation also may issue broker warrants (the "Broker Warrants") to registered dealers or other finders equal to up to 7% of the number of Units sold in the Offering. Each Broker Warrant will entitle the holder to acquire one Unit at a price of $0.05 per Unit for a period of up to two years.

New Sage also announces that it has filed its Form 51-101F1 and Form 51-101F3 for the years ended March 31, 2011 and March 31, 2010 in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities.

About New Sage

New Sage is a Canadian oil and gas exploration and development company with a focus on opportunities in Latin America. New Sage is building a portfolio of production through exploration and development opportunities with established joint venture partners.

Forward-Looking Statements

This news release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by New Sage. The forward-looking statements or information contained in this news release are made as of the date hereof and New Sage does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The securities of New Sage being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.

Contacts: New Sage Energy Corp. John Carlesso 416-309-4324info@newsage.ca

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