Toronto, Ontario CANADA, April 02, 2007 /FSC/ - Sage Gold Inc. (SGX - TSX Venture), has completed a non-brokered private placement financing of 5.0 million Units for gross proceeds of $500,000 and has issued 5.0 million Common Shares, and 2.5 million warrants to purchase 2.5 million Common Shares. Each warrant will be exercisable at $0.15 per common share during the first year and $0.20 per common share during the second year after closing. A finder's fee of $40,000 in cash, 300,000 common shares and 150,000 broker warrants has been paid. Each broker warrant will be exercisable into common shares at $0.20 for two years. No other fee or commission will be paid by the Corporation in connection with the financing. All securities issued will have a four month hold period expiring August 1, 2007, and funds will be used for working capital purposes.
SAGE is a mineral exploration and development company which has interests in exploration properties in Ontario, Nevada and Arizona. Its main properties are the Onaman, Jacobus, and Kerrs properties in Ontario; the Dixie Fork, Triple Junction, Pony Spur and Dike properties in Nevada; and the Gold Hill and Big Bend 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.
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.
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and "Forward-Looking Information" within the meaning of applicable Canadian securities legislation. Such forward-looking statements and Forward Looking Information 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.
For further information, contact:
Nigel Lees
President and C.E.O.
or
Mike O'Brien
Manager/Investor Relations
Phone: 416-204-3170
Fax: 416-260-2243
SAGE GOLD INC.
365 Bay Street
Suite 500
Toronto, Ontario
M5H 2V1
Tel: (416) 204-3170
Fax: (416) 260-2243
www.sagegoldinc.com
