Sage Gold, Inc. has extended the maturity date, from August 13, 2013 to February 10, 2014, of that certain $1.5 million pre-production debt financing with Waterton Global Value L.P. press released on May 16, 2012. Fees related to the aforementioned extension, equal 8% of the principal amount advanced under the Facility. All other terms of the Facility remain unchanged. Additionally, the company has drawn down the second and final tranche of the Financing, in the amount of $500,000.

Sage Gold, Inc. announced the results of a Preliminary Economic Assessment for the Clavos Gold deposit located east of Timmins, Ontario. A sensitivity analysis of the Clavos JV project economics was completed to assess the effect of the overall project economics due to changes in the gold price on the IRR and NPV values. To account for gold price fluctuation, an analysis was made plus or minus $100.00 per ounce. Displayed below are the sensitivity trends. A PEA is deemed to be reliable +/- 50 % level. The PEA is based on Roscoe Postle Associates Inc. independent Mineral Resource Estimate, in accordance with National Instrument 43-101 (NI43-101) and Form 43-101F1 guidelines which defined an Indicated mineral resource of 1,258,400 tonnes at 4.81 g/t Au totalling 194,600 ounces of gold and Inferred mineral resources of 796,000 tonnes at 4.7 g/t Au representing 120,000 ounces. These resources are reported at a base case cut-off grade of 2.75 g/t Au and individual high assays have been capped at 60.0 g/t. A mine production rate of 600 tonnes per day was selected as being optimum for the mineralized structures contained within the Clavos deposit. This tonnage was based on a 2.75 g/t cut-off proposed tonnage estimate, with a 60.0 g/t cut grade, and would permit a life of mine of seven years to extract 70% of the outlined mineral resource estimated tonnage of Indicated 1,258,400 tonnes plus Inferred 796,000 tonnes. In the Clavos JV mine plan, there is readily available 847,133 tonnes of the 1,148,900 tonnes to be extracted prior to having to extract the remaining 301,767 tonnes which includes removing the crown pillar. The remaining 30% of the Indicated and Inferred resource estimate was not included in the mineralized material extraction scheduling process. A 23 month period to permit mine dewatering, mine rehabilitation, definition/delineation diamond drilling and pre-stope development scheduling is envisaged to achieve a full production rate of 600 tonnes per day, or 210,000 tonnes per year based on 350 operating days per year. Previous metallurgical test work results were reviewed and it was concluded that whole mineralized material cyanidation with recovery of soluble gold by a CIP process is the preferred method for processing. Optimum retention times were found to be 24 hours at a grind size of 60% passing 74 microns (200 mesh), and expected average leach recovery of 90.6%.

Sage Gold, Inc. filed its Annual on Jan 15, 2013 for the period ending Sep 30, 2012. In this report its auditor, PricewaterhouseCoopers LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.