Early Warning Report

    Trading Symbol - TSX.V: SGX

    TORONTO, Sept. 5 /CNW/ - Sage Gold Inc. (SGX-TSXVenture) ('Sage')
announces that, on August 28, 2008, it acquired ownership and control over
672,516 common shares and 1,868,100 warrants exercisable for common shares of
Lucrum Capital Corp. ('Lucrum'). The shares represent approximately 4% of the
17,135,808 issued and outstanding common shares of Lucrum. If Sage exercised
all of the warrants, it would own approximately 13.4% of the common shares of
Lucrum then issued and outstanding.
    Sage acquired the shares and warrants, which were issued in order to
effect a Qualifying Transaction of Lucrum, for investment purposes. Depending
on market and other conditions, Sage may, directly or indirectly, acquire
ownership or control over additional securities of Lucrum.
    A copy of Sage's early warning report has been filed on SEDAR under
Lucrum's company profile.
    For all Sage Gold Inc. investor relations needs, investors are asked to
visit the Sage Gold Inc. IR Hub at http://www.agoracom.com/IR/sagegold where
they can post questions and receive answers within the same day, or simply
review questions and answers posted by other investors. Alternatively,
investors are able to e-mail all questions and correspondence to
sgx@agoracom.com where they can also request addition to the investor e-mail
list to receive all future press releases and updates in real time.

    This release was prepared by management of the Company who takes full
    responsibility for its contents. The TSX Venture Exchange has not
    reviewed and does not accept responsibility for the adequacy or accuracy
    of this news release.

    This news release contains certain "Forward-Looking Statements" within
the meaning of Section 21E of the United States Securities Exchange Act of
1934, as amended and "Forward Looking Information" within the meaning of
applicable Canadian securities legislation. Some forward looking statements
and forward looking information contained in this release are forward-looking
and, therefore, involve uncertainties or risks that could cause actual results
to differ materially. Such forward-looking statements include comments
regarding mining and milling operations, mineral resource statements and
exploration program performance. Factors that could cause actual results to
differ materially include metal price volatility, economic and political
events affecting metal supply and demand, fluctuations in mineralization
grade, geological, technical, mining or processing problems, exploration
programs and future results of exploration programs, future profitability and
production. The Company disclaims any obligation to update forward-looking

For further information:

For further information: or to obtain a copy of the early warning
report, contact: Nigel Lees, President and C.E.O., or Mike O'Brien,
Manager/Investor Relations, Phone: (416) 204-3170, Fax: (416) 260-2243

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