Sage Gold drills 2.8 m of 16.6 g/t Au at Clavos

Stockwatch Daily - - MINES & METALS - Mr. Nigel Lees re­ports

SAGE GOLD Inc. has been con­duct­ing an un­der­ground ex­plo­ration pro­gram uti­liz­ing two drills, strate­gi­cally po­si­tioned from two drilling bays, to test an ex­plo­ration tar­get iden­ti­fied by his­tor­i­cal Kin­ross era drill holes, span­ning a dis­tance of 200 me­tres be­tween 513600E and 513800E.

The first six drill holes have been com­pleted test­ing in the vicin­ity of KC-99-137. Hole 3531-196 has been com­pleted and as­says are pend­ing. All holes have suc­cess­fully tested favourable Clavos hang­ing­wall (HW) and foot­wall (FW) min­er­al­ized struc­tures from 513565E to 513615E at depths rang­ing from the 975-me­tre level (mL) to the 855 mL. The re­sults from this drilling will po­ten­tially ex­tend ex­ist­ing min­eral

re­source blocks. The com­pany is cur­rently evaluating these re­sults, which will be used in plan­ning fur­ther un­der­ground and sur­face ex­plo­ration drilling.

(See SGX Ta­ble 1 on page 17)

Drill holes CL-3531-191 and 192 have been com­pleted in the vicin­ity of KC-99-137. Drill hole 192 in­ter­sected a wide fel­sic por­phyry with pyrite and vis­i­ble gold min­er­al­iza­tion oc­cur­ring at the basal con­tact of the 7.3 m thick unit. The min­er­al­ized por­phyry zone has an av­er­age grade of 16.6 grams per tonne Au over a thick­ness of 2.8 m in an FW zone set­ting.

Drill hole 191 in­ter­sected a sim­i­lar fel­sic por­phyry with gold bear­ing quartz-ankerite-pyrite vein­ing in a seric­i­t­ized ul­tra­mafic unit at the basal con­tact of the unit. The FW style min­er­al­iza­tion grades 5.45 g/t Au over a thick­ness of 1.6 m.

Drill hole 3531-193 in­ter­sected quartz-ankerite pyrite vein­ing grad­ing from 3.5 g/t Au over 2.4 m in an FW zone set­ting.

Drill hole 3531-194 stepped out 45 m in the south­west di­rec­tion in­ter­sect­ing 1.46 g/t Au over 1.4 m hosted at the con­tact of a 7.5 m thick fel­sic por­phyry unit.

Drill hole 3531-195 in­ter­sected quartz-ankerite-pyrite vein­ing 25 m in the south­east di­rec­tion in­ter­sect­ing 3.0 g/t Au over 3.5 m in an FW set­ting.

A five-hole un­der­ground drilling pro­gram is un­der way us­ing an air/elec­tric drill which is lo­cated at 513740E. This drilling pro­gram is near ex­ist­ing mine work­ings.

We seek Safe Har­bor.

Erika Flores con­densed this news re­lease (erikaf@stock­watch.com).

Peter D Bo­j­tos, Peter A Free­man, Charles Nigel Lees, Patrick James Mars, Thomas Pup­pen­dahl, Gary Ralph Robert­son

(SGX) Shares: 84,802,157

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