Sage Gold Closes First Tranche of Flow-Through

TORONTO, ONTARIO--(Marketwired - Oct. 23, 2017) - Sage Gold Inc. (TSX VENTURE:SGX) ("Sage" or the "Corporation") is pleased to announce that further to its press release dated October 20, 2017 it has completed the first tranche of a previously announced treasury offering of flow-through common share units of the Corporation (the "Units") at the price $0.22 per Unit. (the "Offering"). The tranche consisted of the sale of 2,729,000 Units for gross proceeds of $600,380. Each Unit is comprised of one (1) common share of the Corporation (a "Common Share"), issued on a flow-through basis ("Flow-Through Share"), and one-half (1/2) of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant entitles its holder to purchase one Common Share at an exercise price of $0.32 for a period of 24 months following the closing of the Offering.