TORONTO, ONTARIO--(Marketwire - Oct. 26, 2007) - Sage Gold Inc. (TSX VENTURE:SGX) is pleased to announce that it has executed an extension to the option agreement with Atna Resources Ltd. and Atna Resources Inc. on the Triple Junction and Dixie Fork Claims located in Elko County, Nevada (the 'Property') adjacent to its Pony Spur and Dike properties. The term of the Option Agreement has been extended until November 30, 2009.
Under the terms of the Option Agreement, Sage can earn up to a 70% interest in the Property upon the achievement of certain predetermined drilling and feasibility milestones. In consideration for the extension of the Option Agreement, Sage will, subject to regulatory approval, issue 350,000 common shares to Atna Resources Ltd.
"The extension of the option for Triple Junction and Dixie Fork gives us adequate time to conduct a thorough drill program and, potentially gain a significant interest in the Property", said Nigel Lees, Sage's President and CEO. "We are currently drilling our Pony Spur property nearby to test the drilling contact between the overlying Webb formation and the Devil's Gate limestone and plan to drill Dixie Fork and/or Triple Junction in 2008".
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.
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.
This release was prepared by management of the Company who takes full responsibility for its contents.
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.
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
Fax: (416) 260-2243
or
Sage Gold Inc.
Mike O'Brien
Manager/Investor Relations
(416) 204-3170
Fax: (416) 260-2243
Website: www.sagegoldinc.com
