Agoracom

TORONTO, ONTARIO--(Marketwire - Oct. 30, 2007) - Sage Gold (TSX VENTURE: SGX) (the Company) announces a non-brokered private placement of up to 8,000,000 flow through units for gross proceeds of up to $4,000,000 Cdn, plus an over-allotment option of 2,000,000 flow-through units at $0.50 Cdn per unit for gross proceeds of $5,000,000 if the full over-allotment option is exercised ("the offering") subject to TSX approval. Each unit consists of one (1) common share plus one half (1/2) non flow-through common share purchase warrant.

Each common share purchase warrant shall entitle the holder to purchase an additional one (1) common share at the exercise price of $0.75 for a term of two (2) years from the closing date of the offering.

If the Company's shares trade at or above $0.95 per share for 21 consecutive trading days, the Company may then accelerate the expiration of the Warrants upon not less than 30 days written notice by the Company, and thereafter repurchase any unexercised Warrants at $0.001 per underlying common share.

All shares and warrants issued under the offering will be subject to a 4 month hold period.

The Company will pay finders fees of up to 6% cash plus warrants to purchase common shares which are equal to 8% of the number of units sold by the finders. The warrants shall expire 24 months after the closing of the offering. The exercise price for the warrants will be $0.75.

The gross proceeds of the offering will be used for the Company's Canadian exploration program.

The closing date of this financing will be on or about November 9, 2007.

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.

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