b Near Term Production with Exploration Upside Investor Presentation | March 2017

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: grade and tonnage historical estimates for Headway presented herein are historical in nature and were not prepared in accordance with 43-101 and has not been verified by a qualified person. and should not be relied on except to represent an order-of-magnitude estimate of mineral resources notwithstanding that Sage believes the estimates are based on reliable information prepared by reputable individuals using accurate analytical techniques. Goldbrook provided the source of the Headway historical estimate. Sage currently plans on completing a reserve estimate and a prefeasibility study for the Clavos project. In the event that a production decision is made that is not based on a feasibility study of mineral reserves demonstrating economic and technical viability prepared in accordance with National Instrument 43-101, readers are cautioned that there is increased uncertainty and higher risk of economic and technical failure associated with such production decisions.

Canadian near term producer/explorer with two principal assets in Ontario’s most significant and historic mining camps – Timmins and Beardmore.

Aggressive goal for both properties in production 2017 and 2020 Highlights CLAVOS 316,000 ounce Indicated and Inferred gold project located amongst major industry players and adjacent to Primero 100% owned by Sage One of the lowest CAPEX in the industry, $70+ million historically invested by St. Andrew Goldfields and Sage Toll milling agreement – Primero – Stock Mill Permits – fully permitted for Production ONAMAN The 100% owned Onaman Property north of Beardmore, offers exploration upside - VMS core with compliant polymetallic resources on the Lynx stringer deposit Acquired highly prospective VMS land package contiguous to Onaman Aggressive goal for both properties in production 2017 and 2020

Board of Directors Patrick J. Mars Chairman and Director 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 public-traded mining companies and is currently a Director of Yamana Gold and Aura Minerals. C. Nigel Lees President, CEO & Director 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 Yamana Gold. Peter Bojtos Director 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. Gary Robertson 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. Freeman has over 30 year’s experience working in Financial Services in the City of London, including regulatory and compliance roles within authorised firms and exchanges, as well as board roles in publicly quoted companies. He is a Senior Regulatory Officer at a UK Recognised Investment Exchange; a Lay member of the Upper Tribunal (Tax & Chancery) and the Probate Committee of the ICAEW. He is also a director of TSX-V quoted Cabo Drilling Inc., of Capital Lease Aviation PLC and of Jenolan Ltd. Peter Freeman Director Management has a long history of moving grassroots exploration projects into production

Management and Consultants C. Nigel Lees President, CEO & Director 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 Yamana Gold. William D. Love VP, Business Development 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. David McDonald Chief Financial Officer Mr. McDonald brings over 25 years of experience in CFO roles in private and public companies, focusing on the mining industry since 2006. Mr. McDonald is a CPA, CA and holds an Honors Bachelor of Commerce from Laurentian University in Sudbury Peter Hubacheck P.Geo, QP Senior Geologist Mr. Hubacheck is a consulting geologist and President of W. A. Hubacheck Consultants Ltd. With 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 diploma from the Haileybury School of Mines and Technology and a B.A.Sc. (Geol. Eng.) degree from the South Dakota School of Mines and Technology Bob Ritchie P.Eng, QP Project Manager 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. Avrom E. Howard MSc, P.Geo Senior Geologist Mr. Howard obtained a Bachelor of Science degree in Geology from the University of Toronto, and a Master of Science degree in Economic Geology from the University of Colorado (Boulder).  Subsequently, he obtained certification as a Gemologist from the Gemmological Association of Great Britain.  His professional experience spans a wide variety of mineral commodities, geological settings, countries and continents.

Capital Structure Symbol TSX.V:SGX Shares Outstanding 67.5 million Shares Fully Diluted 94.5* million Current Price $0.13 52 week high/low $0.16/$0.025 Market Cap CAD $8.8 million * Excludes 7.8 million restricted Special Warrants exercisable into Units of one common share and one Warrant. If exercised the shares outstanding will be 75.3 million and fully diluted, 110 million.

Timmins Gold Camp Clavos Project

Purchased 40% minority interest in Clavos BREAKING NEWS Purchased 40% minority interest in Clavos Changed Project Status from Inactive to Active. Permitted up to 700 tonnes/day. Signed life of mine toll milling contract with Primero Mining. Raised $1.85 million in equity financing.   Raised $9.65 million to place Clavos into production.

Ideal Location

Mineral Resources 10/2012 MAIN ZONE 960 ZONE MAIN ZONE 960 ZONE Hangingwall Zones Contact Zones Footwall Zones Sediment Hosted Zones Other Zones 0 100 200m MAIN ZONE Indicated Resources Inferred Resources Tonnes Gr (g/t Au) Oz Au Hangingwall 595,900 4.92 94,300 119,000 5.60 21,000 Footwall 267,000 5.11 43,900 162,000 4.20 22,000 Contact 237,800 4.45 34,000 - Sediment 66,400 5.07 10,800 243,000 33,000 Other 112,000 6.00 Subtotal 1,167,100 4.88 183,000 636,000 4.80 98,000 960 ZONE Indicated Resources Inferred Resources Tonnes Gr (g/t Au) Oz Au Hangingwall 69,900 4.04 9,100 77,000 5.0 12,000 Footwall 10,200 3.91 1,300 51,000 3.5 6,000 Sediment 11,200 3.51 32,000 4.7 5,000 Subtotal 91,300 3.99 11,700 160,000 4.5 23,000 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.

Over 2000 intersections that are outside the resource blocks Over 2000 intersections that are outside the resource blocks. Potential increase in tonnage.

High grade exploration potential Looking East S Contact Zone Sediment Hosted Zones KC99-154 KC99-155 Porphyry Sediment Altered Ultramafic Ultramafic and Volcanics Hangingwall Zone Hangingwall Zones Contact Zones Footwall Zones Sediment Hosted Zones Other Zones 10.9 gpt/0.5m At depth very good intersections, and potentially another high grade mine zone. 5.9 gpt/0.9m 9.4 gpt/1.0m 17.4 gpt/1.5m KC99-154 65.3 gpt/4.2m Incl. 374.1 g/t over 0.7m KC99-155

Exploration Potential MAIN ZONE 960 ZONE 1 Plunging high Grade Zones Potential connection between Main Zone and 960 Zone Extension along strike (east and west directions) 2 3 2 3 3 3 Drillhole Au Legend (gpt) 9.4 gpt/1.0m ? 10.5 gpt/3.4m 1.0 to 2.5 7.0 gpt/1.5m ? ? 2.5 to 5.0 0 200 400m 8.4 gpt/0.9m 1 ① 5.0 to 10.0 Plunging high Grade Zones? 10.0 to 50.0 50.0+ 65.3 gpt/4.2m

Recent gold price CDN$1600 Already beyond $1500 base case, which will will have a materially positive impact on revenue and profitability.

Clavos PEA 2013 Economic Model GOLD PRICE USD / Oz (Au) $1500/Oz Base Case Gold Production Oz/Au 145,448 Revenue $CAD million 218.2 Initial Capital Expenditures (100%) - See Note 1 8.0 Sustaining Capital 21.1 Total Capital 35.1 Operating Expense CAD t/Ore 142.5 Net Smelter Return 6.5 Cash flow (undiscounted) – See Note 2 34.0 Pre Tax – See Note 3   Net Present Value (NPV) 8% 23.2 Internal Rate Of Return (IRR) % 71% After Tax 12.6 47% Life of Mine Year 7 Payback Period 2.00 Note - assumes an exchange rate of 1:1 of CDN to US Dollar; 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. contingency on capital expenditures of 30% and represents 100% ownership Initial CAPEX $8 million Life of mine $14.1 million tax rates are based on a blended rate between Sage and SAS excludes any financing costs

Onaman Property Lynx Deposit

Situated in NW Ontario

Exploring for High Value VMS Deposits Volcanic-hosted polymetallic sulfide (VMS) deposits are extremely attractive exploration targets: Mix of copper-lead-zinc-gold-silver Hedge against fluctuating metal prices Deposits can range from under 1 to over 100 million tonnes Large, discrete lenses of high value ore enables cost-effective mining Smaller surface and environmental footprint VHMS deposits tend to occur in clusters Additional discoveries often following one upon the other

Onaman Property: On the verge of discovery Historical exploration (1940s) led to discovery of the Headway deposit, hosting 739,400 tons averaging 3.15% zinc and 31 g/t silver (Non-Compliant Historical Resource) Recent exploration (2000s) led to the discovery of the Lynx deposit with a Compliant Inferred Resource of 1.936 million tonnes averaging 1.44% copper, 39.6 g/t silver and 0.58 g/t gold Both deposits fit perfectly within the context of a classic VMS setting, with the main deposit remaining to be found Historical and current geological mapping has documented numerous features associated with the VMS setting

Milestones ONAMAN CLAVOS Q3 2012 Fully Permitted Q3 2016 Complete surface mapping of the IBZ zone Mapping to identify new zone and link to previous Sage geophysics Analyzing previously discovered massive sulphide float bolder Q4 2016 Interpretation of data with the aim of selecting drill targets in IBZ Q1 2017 Acquired Strategic Property Q1 2017 Surface Drill program CLAVOS Q3 2012 Fully Permitted Q1 2013 PEA Completed Q3 2016 Enhanced resource modelling Finalizing all regulatory and logistical production requirements  Q4 2016 Purchased 40% minority interest Signed LOM milling contract Production approval Q1 2017 Dewatering begins Q1 2017 Surface Drill program Q3 2017 Production begins

Why invest? Two properties, situated in established mining camps near industry players, offer production potential with low CAPEX, exploration upside and commodity diversification. Clavos – Dewatering, Drilling Q1 2017, Production Q3 2017, new Gold structures to be drilled Onaman - VMS targets selected, Acquired Strategic Property, Drilling Q1 2017 Rerating event – Project Financing – non-dilutive, Clavos Production, Onaman New Discoveries, Timmins camp consolidating Strong financial backing, and broad shareholder base. 

With production, development and exploration stage assets consisting of both base and precious metals, an experienced and dedicated management team, commodity diversification and a renewed metals bull market underway, Sage is poised for significant appreciation.

CONTACT Sage Gold Inc. 200 University Ave, Suite 1301 Toronto, ON M5H 3C6 Tel.: 416-204-3170 Fax: 416-260-2243 Karen Levy info@sagegoldinc.com