Trading Symbol - TSX.V: SGX

TORONTO, Sept. 5 /CNW/ - Sage Gold Inc. (SGX-TSXVenture) ('Sage') announces that, on August 28, 2008, it acquired ownership and control over 672,516 common shares and 1,868,100 warrants exercisable for common shares of Lucrum Capital Corp. ('Lucrum'). The shares represent approximately 4% of the 17,135,808 issued and outstanding common shares of Lucrum. If Sage exercised all of the warrants, it would own approximately 13.4% of the common shares of Lucrum then issued and outstanding.

Sage acquired the shares and warrants, which were issued in order to effect a Qualifying Transaction of Lucrum, for investment purposes. Depending on market and other conditions, Sage may, directly or indirectly, acquire ownership or control over additional securities of Lucrum.

A copy of Sage's early warning report has been filed on SEDAR under Lucrum's company profile.

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 tosgx@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.

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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. Some forward looking statements and forward looking information 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.

For further information: or to obtain a copy of the early warning report, contact: Nigel Lees, President and C.E.O., or Mike O'Brien, Manager/Investor Relations, Phone: (416) 204-3170, Fax: (416) 260-2243