TORONTO, ONTARIO--(Marketwired - Oct. 1, 2015) -

DEBT FACILITY

On September 30, 2015, Sage Gold Inc. ("Sage" or the "Company") (TSX VENTURE:SGX) entered into an amending agreement with its senior lender, Waterton Global Value, L.P. ("Waterton"), pursuant to which the maturity date of the Company's secured term debt facility (the "Facility") has been extended from October 15, 2015 to April 15, 2016 (the "First Extension Date"), with an option to further extend the Facility to October 15, 2016 (the "Second Extension Date"). The Company will pay an extension fee ("Fee") of $40,841 to Waterton on the First Extension Date, unless it exercises its option to further extend the Facility, in which case the Fee will be increased to $102,102, payable on the Second Extension Date. All other material terms and conditions of the Facility remain unchanged.

The total amount outstanding under the Facility is approximately CAD$2.1 million inclusive of principal, accrued interest and fees payable to date. The annual interest rate of the Facility is 12%.

PRIVATE PLACEMENT

Sage Gold Inc. is also pleased to announce, subject to final approval of the TSX Venture Exchange, the closing of a previously announced non-brokered private placement financing for aggregate gross proceeds of $27,000 (the "Offering"). The Offering consisted of the sale of 540,000 common shares at $0.05 per common share. The common shares issued pursuant to the Offering are subject to a statutory hold period expiring on February 2, 2016. The Company intends to use the net proceeds from the Offering for general working capital purposes.

Sage is a mineral exploration and development company which has primary interests in near-term production and exploration properties in Ontario. Its main properties are the 100% polymetallic owned Lynx property and other exploration properties in the Beardmore-Geraldton Gold Camp and the Clavos Gold property in Timmins. Technical reports and information relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com and www.sagegoldinc.com.

This release was prepared by management of the Company who takes full responsibility for its contents. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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.

Sage Gold Inc.
Nigel Lees
President and CEO
416-260-2243
416-204-3170