TORONTO, ONTARIO--(Marketwire - May 25, 2010) - Gryphon GoldCorporation (TSX:GGN) and Sage Gold Inc. (TSX VENTURE:SGX) announcesassays for the first three reverse circulation holes in the oxidedrilling program on the Borealis property in Nevada's Walker LaneMineral Belt. The Borealis deposits comprise a 43-101 oxide and sulphidegold resource which is described in the 2008 NI 43-101 "TechnicalReport on the Mineral Resource of the Borealis Gold Project Located inMineral County, Nevada, USA".

The reported holes targeted the western side of the Freedom Flats pitwhere previous operators had identified oxide gold mineralization andadditional drilling is now being conducted to extend this zone. TheFreedom Flats area encompasses 160,800 ounces of measured + indicatedresources totaling 3.87 million tons at an average grade of 0.042 opt(1.44 g/t Au) and an inferred gold resource of 88,000 ounces totaling4.1 million tons at an average grade of 0.022 opt (0.75 g/t Au) asdetailed in the 2008 NI 43-101 technical report. Oxidized goldmineralization is generally amenable to low cost heap leach technology.Echo Bay Mines Ltd. produced 195,000 ounces of gold from the oxidizedFreedom Flats deposit at an average grade of 0.15 opt (5.23 g/t Au)during the period 1987-1989 using conventional open pit and heap leachtechnology. Sage and Gryphon have determined that additional step- outdrilling is warranted on the south-western extension of the FreedomFlats deposit.

The following summary table highlights the gold intercepts in the threeholes.

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Hole Number Total Depth  From/To (m)    Interval (m)   Gold (g/t) Gold (opt)
(m)                                                             
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FF-13       148          117.3-141.7    24.4           0.89       0.026     
144.8-147.8    3              0.75       0.022     

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FF-14       122          89.9-92.9      3              0.17       0.005     
100.6-         18.3           2.13       0.062     
118.9                                              
including      3              5.14       0.15      

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FF-15       136          79.2-91.4      12.2           1.99       0.058     
100.6-102.1    1.5            0.48       0.014     
106.7-117.3    10.7           1.06       0.031     

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A cut off grade of .005 opt (0.17 g/t Au) was used in calculating assayintervals. The true widths of the intercepts are not known. Drill holesFF-13, 14 and 15 were drilled at minus 50, 60 and 65 degreesrespectively.

The current drilling program is designed to upgrade inferred oxideresources reported in Gryphon's 2008 NI 43-101 "Technical Report on theMineral Resource of the Borealis Gold Project Located in Mineral County,Nevada, USA" to the Measured and Indicated category and to potentiallyadd additional oxide ounces to the Borealis resource. Drilling will testmultiple targets within the permitted mining area with the designedintent of increasing resources for the short term mine plan. Targetsinclude extensions of known ore zones, infill drilling andidentification of additional mineralized zones.

One reverse circulation drill continues to operate and is currently inthe Middle Ridge area, located between the East Ridge and NortheastRidge pits. Previous drilling by Gryphon identified a zone, which willbe drill tested with the objective of upgrading the inferred gold ouncesand generating new gold resources.

Gryphon Gold Corporation and Sage Gold Inc. entered into an optionagreement on March 5, 2010, as amended. Under the terms of the OptionAgreement Gryphon has agreed to grant Sage the right (to earn a 50%interest in the Borealis property), including the permitted Borealisoxide gold project located in the Walker Lane Mineral Belt of SouthwestNevada. SRK Consulting (U.S.) Inc. has been engaged to prepare thebankable study.

The Borealis property is described in a technical report dated April 28,2008 titled "Technical Report on the Mineral Resources of the BorealisGold Project Located in Mineral County, Nevada, U.S.A" and prepared inaccordance with National Instrument 43-101 of the Canadian SecuritiesAdministrators ("NI 43-101") filed on www.sedar.com. This technical report describes theexploration history, geology and gold resources at the Borealisproperty. Disclosure in this press release of mineral resources is basedon the technical report. Details of the quality or grade of eachcategory of mineral resources and key assumptions, parameters andmethods used to estimate the mineral resources is included in thetechnical reports. The technical report also includes a description ofenvironmental and permitting matters.

The technical information in this press release was approved by Mr.Steven Craig, VP of Exploration of Gryphon Gold, and is a QualifiedPerson as defined by National Instrument 43-101 of the CanadianSecurities Administrators.

SAGE is a mineral exploration and development company which hasinterests in exploration properties in Ontario and Nevada. Its mainproperties are the recently optioned Borealis Gold property in Nevada;the Clavos Gold property in Timmins; and its ongoing exploration in theBeardmore - Geraldton Gold Camp. Technical reports relating to theproperties can be obtained from the System for Electronic DocumentAnalysis and Retrieval (SEDAR) website at www.sedar.com.

This release as it relates to Gryphon was prepared by the management ofGryphon. This release as it relates to Sage was prepared by Sagemanagement.

ABOUT GRYPHON GOLD:

Gryphon Gold is a Nevada-focused gold exploration and potentially aproduction company. Its principal gold resource, the 1.4 million ounce(measured and indicated) and 1.1 million ounce (inferred) Borealisdeposits, is located in the Walker Lane gold belt of western Nevada. TheBorealis gold system is one of the largest known volcanic-hostedhigh-sulphidation gold bearing mineralized systems in Nevada.

Cautionary Note to U.S. Investors concerning estimates of Measured,Indicated and Inferred Resources: This press release and thePre-Feasibility Study referenced in this press release use the terms"Measured Resources", "Indicated Resources", "Measured & IndicatedResources" and "Inferred Resources." We advise U.S. investors that whilethese terms are defined in and required by Canadian regulations, theseterms are not defined terms under the U.S. Securities and ExchangeCommission ("SEC") Industry Guide 7 and are normally not permitted to beused in reports and registration statements filed with the SEC."Inferred resources" have a great amount of uncertainty as to theirexistence, and great uncertainty as to their economic and legalfeasibility. It cannot be assumed that all or any part of an inferredmineral resource will ever be upgraded to a higher category. UnderCanadian rules, estimates of inferred mineral resources may not form thebasis of a feasibility study or pre-feasibility study, except in rarecases. The SEC normally only permits issuers to report mineralizationthat does not constitute SEC Industry Guide 7 compliant "reserves" asin-place tonnage and grade without reference to unit measures. U.S.investors are cautioned not to assume that any part or all of mineraldeposits in these categories will ever be converted into reserves. Thispress release contains "forward-looking statements" and "forward-lookinginformation" within the meaning of Canadian and United Statessecurities laws, which may include, but is not limited to:
1) resource estimates on the Borealis resource, pediment explorationplans and other plans, projections, estimates and expectations; and 2)statements with respect to the expected terms of the option agreementand joint venture agreement. Such forward-looking statements andforward-looking information reflect our current views with respect tofuture events and are subject to certain risks, uncertainties andassumptions, including, the risk that the option agreement may not becompleted or that Sage may not exercise its option thereunder, thatfinancing for the development of the Borealis Project may not beavailable on terms satisfactory to Gryphon and Sage and the risks anduncertainties outlined under the section headings "Forward-LookingStatements" and "Risks Factors" in our annual report on Form 10-KSB, asfiled with the SEC on June 26, 2009, under the section heading "RiskFactors" in our most recent quarterly report on Form 10-Q, as filed withthe SEC on February -16, 2010, and in our most recent financialstatements, reports and registration statements filed with the SEC(available at www.sec.gov)and with Canadian securities administrators (available at www.sedar.com). Shouldone or more of these risks or uncertainties materialize, or shouldunderlying assumptions prove incorrect, actual results may varymaterially from those anticipated, believed, estimated or expected. Wedo not undertake to update forward-looking statements or forward-lookinginformation, except as may be required by law. Full financialstatements and securities filings are available on our website: www.gryphongold.comand www.sec.gov or www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (asthat term is defined in the policies of the TSX Venture Exchange) northe Toronto Stock Exchange accepts responsibility for the adequacy oraccuracy of this release.