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

2. 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 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 , readers are cautioned that there is increased uncertainty and higher risk of economic and technical failure associated with such production decisions.

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

4. 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

5. 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

6. 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 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 , 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 NI
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.

7. 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.

8. Timmins Gold Camp
Clavos Project

9. 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.

10. Ideal Location

11. Mineral Resources 10/2012 MAIN ZONE 960 ZONE MAIN ZONE 960 ZONE
Hangingwall Zones
Contact Zones
Footwall Zones
Sediment Hosted Zones
Other Zones m
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.

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

13. 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 g/t over 0.7m
KC99-155

14. 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 m
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

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

16. 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

17. Onaman Property
Lynx Deposit

18. Situated in NW Ontario

19. 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

20. 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 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

21. Milestones ONAMAN CLAVOS Q3 2012 Fully Permitted
Q 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
Q Interpretation of data with the aim of selecting drill targets in IBZ
Q Acquired Strategic Property
Q Surface Drill program
CLAVOS
Q Fully Permitted
Q PEA Completed
Q Enhanced resource modelling
Finalizing all regulatory and logistical production requirements 
Q Purchased 40% minority interest
Signed LOM milling contract
Production approval
Q Dewatering begins
Q Surface Drill program
Q Production begins

22. 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. 

23. 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.

24. CONTACT
Sage Gold Inc University Ave, Suite Toronto, ON M5H 3C6 Tel.: Fax:
Karen Levy