SGX Sage Gold Inc.

Sage Gold Inc. (TSX VENTURE:SGX) (the "Company") announces the closing of the
first tranche of a previously announced Cdn $700,000 non-brokered private
placement for gross proceeds of $499,270 through the sale of 3,620,396
flow-through units (the "FT Units") at $0.05 per FT Unit and 10,608,334 common
shares (the "Common Shares") at $0.03 per common share. The Company has received
conditional approval from the TSX Venture Exchange for this issuance and all
securities are subject to a four (4) month hold period which expires on
September 22, 2013.


Each FT Unit consisted of one (1) flow through common share of the Company and
one half (1/2) of one common share purchase warrant (each whole warrant, a
"Warrant"). Each Warrant entitles its holder to purchase one common share at a
price of $0.05 for a period of 12 months following the closing date of the
private placement. In connection with the private placement, the Company will
pay finder's fees of approximately $2,000 and issue 56,000 compensation options.


Seven insiders participated in the private placement, thereby making the private
placement a "related party transaction" as defined under Multilateral Instrument
61-101 - Protection of Minority Security Holders in Special Transactions ("MI
61-101"). Mr. Patrick Mars, Chairman and a director of the Company, Mr. Nigel
Lees, President and Chief Executive Officer and a director of the Company, Mr.
Sandy Chim, a director of the Company, Mr. Peter Bojtos, a director of the
Company, Mr. Gary Robertson, a director of the Company, Mr. William Love, VP -
Business Development of the Company and Waterton Global Value, L.P., a greater
than 10% holder of voting securities of the Company, purchased, in the
aggregate, 400,000 FT Units and 5,941,667 common shares pursuant to the private
placement. 


Mr. Mars purchased 200,000 FT Units and 700,000 common shares and owns or
controls 2,639,500 common shares or approximately 2.3% of the total common
shares issued and outstanding after the completion of the private placement. Mr.
Lees purchased 100,000 FT Units and 200,000 common shares and owns or controls
4,241,726 common shares or approximately 3.7% of the total common shares issued
and outstanding after the completion of the private placement. Mr. Chim
purchased 500,000 common shares and owns or controls 1,970,541 common shares or
approximately 1.7% of the total common shares issued and outstanding after the
completion of the private placement. Mr. Bojtos purchased 200,000 common shares
and owns or controls 349,001 common shares or approximately 0.3% of the Company.
Mr. Robertson purchased 175,000 common shares and owns or controls 1,177,036
common shares or approximately 1.0% of the Company. Mr. Love purchased 100,000
FT and owns or controls 584,160 common shares or approximately 0.5% of the total
common shares issued and outstanding after the completion of the private
placement. Waterton Global Value, L.P purchased 4,166,667 common shares and owns
or controls 18,500,000 common shares or approximately 16.2% of the total common
shares issued and outstanding after the completion of the private placement. The
private placement was unanimously approved by the directors of the Corporation,
with Messrs. Mars, Lees, Robertson, Bojtos and Chim disclosing their interests
and abstaining from voting with respect thereto. The private placement was
exempt from the formal valuation and minority shareholder approval requirements
of MI 61-101 as neither the fair market value of any common shares issued to or
the consideration paid by Messrs. Mars, Lees, Chim, Robertson, Bojtos, Love and
Waterton Global Value, L.P. exceeded 25% of the Company's market capitalization.



This private placement is necessary to support existing operations, activities
and assets, and none of the proceeds from the Common Share portion of the
private placement will be used to fund the purchase or pursuit of new
businesses, operations or activities, or to compensate, settle indebtedness
with, or otherwise satisfy obligations to, any person who is a Related Party (as
such term is defined in the TSX Venture Exchange ("TSXV") Corporate Finance
Manual). Specifically, the use of the proceeds from the Common Share portion of
the private placement will be used to preserve the Clavos gold property in
Timmins, Ontario, satisfy option payments and interest payments on secured debt,
to pay down accounts payable and for working capital purposes. The proceeds of
the flow-through portion of the private placement will be used to fund the
Company's share of the exploration and development of the Clavos gold property.


Completion of the offering is subject to the TSXV final approval. The Common
Share portion of the private placement is being completed pursuant to the TSXV's
Notice to Issuers dated August 12, 2013, regarding Temporary Relief from Certain
Pricing Requirements. The second tranche of the private placement is expected to
close in mid-June, 2013.


Sage has a NI 43-101 resource for Clavos which includes indicated mineral
resources of 1,258,400 tonnes at 4.81 g/t Au totaling 194,600 ounces of gold and
Inferred mineral resources of 796,000 tonnes at 4.7 g/t Au representing 120,000
ounces. These resources are reported at a base case cut-off grade of 2.75 g/t Au
and individual assays have been capped at 60 g/t.


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.


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


Cautionary Statement on Forward-Looking Information:

Except for statements of historical facts, all statements in this news release
regarding, without limitation, the private placement, including the use of
proceeds from the private placement, future plans and objectives are
forward-looking statements which involve risks and uncertainties. There can be
no assurance that such statements will prove to be accurate. Although the
Company believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions actual results and future events could
differ materially from those anticipated in such statements. Factors that may
cause the actual results to differ materially from those in forward-looking
statements include, but are not limited to, precious metal prices, results of
exploration and development activities, regulatory changes, availability of
materials and equipment, timeliness of government approvals, continued
availability of capital and financing and general economic, market or business
conditions. The Company cautions the foregoing list of important factors is not
exhaustive. Investors and others who base themselves on the Company's
forward-looking statements should carefully consider the above factors as well
as the uncertainties they represent and the risk they entail. For more
information, please see the public filings of the Company at www.sedar.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Sage Gold Inc.
Nigel Lees
President and C.E.O.
416-204-3170


Sage Gold Inc.
Mike O'Brien
Communications Manager/Investor Relations
416-204-3170
416-260-2243 (FAX)
www.sagegoldinc.com

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