Sage Gold Inc. is a junior mining company focused on developing its Clavos gold project and Lynx copper-silver-gold project into near term producers. The Clavos project has an existing NI 43-101 resource and positive preliminary economic assessment indicating potential profitability. Sage plans to begin production at Clavos in late 2014 or early 2015 once permitting and mine rehabilitation is completed. The company aims to generate cash flow from initial production to fund further exploration and development of additional resources at Clavos and Lynx, which remain open for expansion. Sage trades on the TSX Venture Exchange and has a current market capitalization of $2.5 million Canadian dollars.

1. Path to
Production
Path to Production
Timmins, Ontario
TSX-V : SGX
Aug-Sept 2012
Feb 2014

2. Path to Production
Forward Looking Statements
Statements made in this presentation, other than those concerning historical information, should be
considered forward-looking statements which are subject to various risks and uncertainties. Such
forward-looking statements are made based on management’s belief as well as assumptions made by,
and information currently available to, management.
The Company’s actual results may differ materially from the results anticipated in such forward-looking
statements as a result of a variety of factors. Additional information concerning factors that could cause
actual results to materially differ from those in such forward-looking statements is contained in the
Company’s filings with the securities and regulatory authorities.
Note: All currencies are in Canadian dollars unless otherwise noted
1

3. Path to Production
CORPORATE VISION
Sage Gold’s short term plans are to develop production on their existing
resources on the Clavos and Lynx projects to generate cash flow to fund
further exploration and potentially develop a leading gold and copper company.
CORPORATE STRUCTURE
•
•
•
•
•
•
•
Shares O/S: 123.9 million
Shares F/D: 139.1 million
Current price: $0.02
52 week high/low: $0.045/$0.01
Market Cap: C$ 2.5 million
Average Strike Price of Warrants/Options: $0.14
Proceeds from Warrants/Options: $2.1 million
Exchange Symbol: TSX.V – SGX
OTC – SGGDF (USA)
2

4. Path to Production
SAGE GOLD ADVANTAGE
Near term production
1.
Clavos Au and Lynx Cu- Ag - Au project



Potential to generate strong cash flow for the company
Sage has access to custom mills for both the Clavos and Lynx projects
Permits in place to re-open Clavos for dewatering and underground rehabilitation
2.
Both Clavos and Lynx have 43-101 resources
3.
Preliminary Economic Assessment on Clavos Project

4.
Blue Sky Potential – Clavos and Lynx Projects


5.
71% Internal Rate of Return (pre-tax) and $23.2MM Net Present Value
47% Internal Rate of Return (after-tax) and $12.6MM Net Present Value
Open at depth and on multiple directions along strike
Management will focus on continuing to increase resources
Excellent Infrastructure - Clavos

Established infrastructure with $46 million spent on underground development
Note: The PEA does not indicate the economic viability of the mineral resource and is preliminary in nature, includes inferred resources that are considered
too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and that
there is no certainty that the PEA will be realized. Mineral resources that are not mined reserves do not have demonstrated economic viability.
3

5. Path to Production
TIMMINS GOLD CAMPS
CLAVOS
PROJECT
Timmins, Ontario
4

6. Path to Production
CLAVOS PROJECT- HIGHLIGHTS
 Located in the prolific Timmins Mining camp and close geographically (20kms) to
Goldcorp’s (TSX-G) high grade Hoyle Pond mine which has produced more than 2.4 M
ozs since 1985 and is still in operation
 Existing infrastructure in place including underground ramp access to the 300m level,
underground levels developed every 25m, power to site, surface ventilation system,
water management system
 Low initial Capex required for potential production,$14.1million (represents 100% of
Capex requirement)
 Permits in place to re-open Clavos mine
 Clavos is also located 10kms from the Brigus Gold mill in Stock Township.
 Natural Gas pipeline on the Clavos Property – Potential Fuel and Power savings
5

7. Path to Production
NEAR TERM PRODUCTION PLANS
CLAVOS
PROJECT
Timmins, Ontario
Q2-3 2014
 Financing
Q4 2014 – Q1 2015
 Dewater and Rehab mine
 Initial Tonnage Extraction and Production
Q4- 2015 - Commercial Production
6

8. Path to Production
GOLD PRICE
Gold Production
US$ / Oz (Au)
Oz/Au
$1400/Oz
$1500/Oz
Base Case
$1600/Oz
145,448
145,448
145,448
Revenue
Cdn$ million
203.6
218.2
232.7
Initial Capital Expenditures (100%)
Cdn$ million
14.1
14.1
14.1
Sustaining Capital
Cdn$ million
21.1
21.1
21.1
Total Capital
Cdn$ million
35.1
35.1
35 .1
Operating Expense
Cdn$ t/Ore
142.5
142.5
142.5
Net Smelter Return
Cdn$ t/Ore
6.1
6.5
7.0
Cash flow (undiscounted)
Cdn$ million
19.9
34.0
48.1
Pre Tax
Net Present Value (NPV) 8%
Internal Rate Of Return (IRR)
Cdn$ million
%
13.5
48%
23.2
71%
33.0
94%
Cdn$ million
%
5.6
27%
12.6
47%
19.5
67%
Year
Year
7
2.25
7
2.00
Clavos
PEA
Economic
Model
7
1.75
After Tax
Net Present Value (NPV) 8%
Internal Rate Of Return (IRR)
Life of Mine
Payback Period
Note - assumes an exchange rate of 1:1 of Cdn to US Dollar;
-tax rates are based on a blended rate between Sage and SAS
-excludes any financing costs
-contingency on capital expenditures of 30%
-CAPEX figures represents 100% of financing
The PEA does not indicate the economic viability of the mineral resource and is preliminary in
nature, includes inferred resources that are considered too speculative geologically to have
the economic considerations applied to them that would enable them to be categorized as
mineral reserves and that there is no certainty that the PEA will be realized. Mineral resources
that are not mined reserves do not have demonstrated economic viability.
7

9. Path to Production
WHAT MAKES CLAVOS UNIQUE
ENVIRONMENTAL PERMITTING
 a ll permits in place to dewater and commence
Tonnage extraction – 700 tpd
EXISTING SURFACE INFRASTRUCTURE








10 km truck haul road to Hwy 101
10 km by 27.6 kV overhead power line
mine access roadways
mobile shop, generator, compressor & cold storage
building
office trailer
dry facility
settling & polishing pond s
replacement value $5.0m
8

10. Path to Production
CLAVOS EXISTING UNDERGROUND
Footwall
Hanging Wall
Sediment
Contact
Hanging Wall
Footwall
Contact
Sediment
2.5 km





2,923m of primary access
710m of secondary access
3,208m of lateral level development
+200,000 m of surface & underground diamond drilling
10 levels with detail geological mapping & channel
sampling
 Replacement value $40.0m
9

11. Path to Production
CLAVOS NI43-101MINERAL RESOURCE Oct ‘12
Category
Tonnes
Total Indicated
Grade
1,258,400
4.81 g/t
Total Ounces
194,600
__________________________________________________________________________
Total Inferred
795,600
4.70 g/t
120,000
__________________________________________________________________________
Note: The 2012 resources are estimated at a cut-off grade of 2.75 g/t Au, high gold assays are cut to 60 g/t Au and an average long-term gold
price of US$1600 per ounce was used.
Convert Resources To Reserves:
 discrepancy in underground survey prevents assigning reserve
categories
 re-survey to verify actual location for underground workings
 stope definition drilling to provide data base for upgrading
resource categories
NOTE: subject to PFS
10

12. Path to Production
CLAVOS PEA REPORT 2013





Forecasted production rate
600 tpd
Life of Mine
7 years
Forecasted Full production
3rd year, 4th Qtr.
Internal dilution
in resource block estimate
External dilution:
- cut & fill methods
10% at 0 gms/t
- long hole methods
40% at 0 gms/t
 Tonnage recovery:
- cut & fill methods
95%
- long hole methods
90%
Note: The PEA does not indicate the economic viability of the mineral resource and is preliminary in nature, includes inferred resources that
are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized
as mineral reserves and that there is no certainty that the PEA will be realized. Mineral resources that are not mined reserves do not have
demonstrated economic viability.
11

13. Path to Production
ONAMAN PROPERTY – LYNX PROJECT
Lynx Cu Ag Au
9,096 acres
Mill
12

14. Path to Production
ONAMAN
LYNX PROJECT
Beardmore, Ontario
Lynx NI43-101 Open Pit Resource 485,000
tonnes 2.1 % Cu, 45.3 g Ag/T, 0.70 g Au/T
at 1% Cu cut off
Lynx NI43-101 Resource
1.936 million tonnes, 1.44% Cu
39.6 g Ag/T, 0.58 g Au/T
Yellow = .5% Cu x 3 metres – Cut Off
Red = 1% Cu x 3 metres
13

15. Path to Production
LYNX PROJECT – Cu Ag Au
 Located within the Onaman Property – Northern Ontario
 VMS system – high grade Cu-Ag-Au mineralisation
 Numerous VMS targets on the Onaman Property – potential to host
large VMS deposit
 Open at depth and along strike – Existing compliant resource - only
drilled to 250-300 metres
 Open Pit component – potential to increase size to the north
 Existing mill in Beardmore – 75 km to Lynx
14

16. Path to Production
.
Patrick J. Mars
Chairman and Director
C. Nigel Lees
President, CEO and Director
Peter Bojtos
Director
Gary Robertson
Director
Joe Baylis
Director
Sandy Chim
Director
Peter Freeman
Director
BOARD OF DIRECTORS
Mr. Mars is an independent consultant specializing in mine financing and analysis with over 30 years of
experience in the investment industry. Mr. Mars has acted as Chairman, CEO, or Director for several publictraded mining companies and is currently Director of Aura Minerals, Carpathian Gold, Selwyn Resources and
Yamana Gold.
Mr. Lees is a founder and past director of TVX Gold Inc., a significant gold producer in North and South America,
which merged into Kinross Gold, listed on the TSX and the New York Stock Exchange. Mr. Lees has over 30 years
experience in the Canadian investment industry and is currently a Director of several publicly traded mining companies
including Yamana Gold.
Mr. Bojtos is a professional engineer with extensive experience in mineral development and production. Since 1996
following a successful career as CEO of several companies, Mr. Bojtos serves on mining company boards as an
independent Director.
Mr. Robertson is a Certified Financial Planner. He has worked in the financial industry for the past twenty years, and
presently serves on the board of several private companies as well as on the board of six Canadian junior gold mining
companies.
Mr.B aylis brings over 23 years of domestic and international mining industry experience to the Company. Mr.Baylis
graduated with an LLB from the University of Western Ontario and is a member of the Law Society of Upper Canada.
Mr. Chim is an international business executive. He is the President and CEO of Century Iron Mines Corporation (TSXFER), a director of Augyva Mining Resources Inc. (TSX.V-AUV) and non executive director of Prosperity Minerals Holdings
Limited. Mr.Chim resides in Kowloon, SAR, Hong Kong, PRC.
Mr. Freeman has extensive experience in public markets, finance and compliance, this includes six years as
Director of Markets and Compliance at the OFEX Market (now ISDX). Mr. Freeman is Compliance Officer of Loeb
Aron & Company a corporate finance firm authorized and regulated by the Financial Conduct Authority. He is
also a Lay member of the Upper Tribunal (Tax & Chancery) which hears references (appeals) arising from
decisions by the Financial Conduct Authority, Bank of England, Financial Services Authority and the Pensions
Regulator. Mr. Freeman is also a director of TSX-V quoted Cabo Drilling Inc., an international mineral and
specialty drilling services provider and Jenolan Ltd, a financial services and regulatory compliance consulting
firm which provides management services .
15

17. Path to Production
MANAGEMENT and CONSULTANTS
Management
C. Nigel Lees
President, CEO and Director
William D. Love
VP and Business Development
Ron Reed
Chief Financial Officer
Michael Skutezky
Secretary and Legal Counsel
Mr. Lees is a founder and past director of TVX Gold Inc., a significant gold producer in North and South America,
which merged into Kinross Gold, listed on the TSX and the New York Stock Exchange. Mr. Lees has over 30 years
experience in the Canadian investment industry and is currently a Director of several publicly traded mining companies
including Yamana Gold.
Mr. Love is a geologist who has been involved in mineral exploration in Canada and was part of the world class Hemlo
discovery team. He was also an institutional equity salesperson in London, England, for a Canadian brokerage firm.
Mr. Love has spent the last fifteen years as a venture capitalist and a corporate finance specialist in a variety of
resource and technology companies.
Mr. Reed is a CGA with an MBA ( Finance) from the NY Institute of Technology. He has more than 20 years of senior
experience in implementing financial business strategies and has been involved in more than 15 acquisition and
divesture transactions. Since 2009 he has been providing CFO services in the mining sector.
Mr. Skutezky was Assistant General Counsel of Royal Bank for 25 years focused on International Project financing
based in Montreal and Toronto, in addition to working in Eastern Europe with Canadian Law Firms. He has recently
formed his own professional corporation for the practice of law and is the principal of Rhodes Capital Corporation.
Consultants
Peter Hubacheck
P.Geo, QP
Bob Ritchie
Mining Engineer
Mr. Peter Hubacheck is a consulting geologist and President of W. A. Hubacheck Consultants Ltd. He has over
35 years of experience as a project geologist, exploration manager and Qualified Person for the purposes of NI
43-101, with experience in the exploration for gold, silver, base metals, uranium and diamonds in Canada and the
USA. He holds a Mining Technologist (1974) diploma from the Haileybury School of Mines and Technology,
Haileybury, Ontario and a B.A.Sc. (Geol. Eng. 1977) degree from the South Dakota School of Mines and
Technology, Rapid City, South Dakota.
Mr. Ritchie is a Professional Engineer with over 40 years of experience in mine management and development,
feasibility studies and mine construction. He has worked with several mining companies including Goldcorp,
Noranda Mines and St. Andrew Goldfields. He was responsible for the construction of the Stock (now Brigus
Gold) Mill. Mr. Ritchie is a graduate of the Michigan Technological University with a Bachelor of Science in
Geology Engineering. He is also a Qualified Person (QP) as defined by NI43-101.
16

18. Path to Production
WHY INVEST IN SAGE GOLD
 Near Term Potential Production Q4 -2015
 Clavos Positive Preliminary Economic Assessment – low Capex/ Fast Payback
 Lynx – Complaint Resource / Large Deposit Potential/ Open Pit tonnage
 Clavos/ Lynx - potential to increase tonnage through further in-fill and exploration
drilling
 Production Financing – Joint Ventures being pursued
 Low market capitalization
SMALL AND PROFITABLE IS BEAUTIFUL
17

19. Path to Production
CONTACT INFORMATION
Sage Gold Inc.
365 Bay Street, Suite 500
Toronto, ON M5H 2V1
Tel.: 416 204-3170
Fax: 416 260-2243
info@sagegoldinc.com
Karen Levy
18