Trading Symbol - CNQ: SAGE TORONTO, Nov. 2 /CNW/ - Sage Gold Inc. (CNQ listed: symbol SAGE) announces that it has completed its private placement unit financing through the issuance of 1,333,333 units at $0.075 per share for aggregate proceeds of $100,000. The Company has also sold an additional 466,667 units on the same terms for aggregate proceeds of $35,000. Each unit consists of one common share of the Company and one half of one common share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share at $0.10 per common share at anytime until November 2, 2007. Sage and Atna Resources Ltd. and Atna Resources Inc. (together "Atna") have agreed to amend the option agreement whereby the Company can earn up to 70% interest in the Triple Junction and Dixie Fork exploration properties in Nevada. For the consideration of issuing 500,000 common shares of Sage, Atna has agreed to extend the length of the option by one year to November 30, 2007, and to reduce Sage's total drilling commitment on the properties from 15,000 feet to 10,000 feet. The Company has just completed 7 diamond drill holes for a total of 3,011 metres on the Kerrs gold property, near Lake Abitibi, Ontario, and is awaiting the assay results. Sage is pleased to announce the appointment of Mr. Dale Hendrick as a consulting geologist to the Company. Mr. Hendrick is a professional geological engineer with 50 years experience in mineral exploration, development and mine production. Following a 28-year career with Kerr Addison Mines and the Noranda Group where he attained senior executive positions, he formed Dale M. Hendrick & Associates to provide technical and financial consulting services to mining companies worldwide. Mr. Hendrick serves on the board and consults to a number of publicly listed mining companies. The Company has granted 140,000 stock options to Mr. Hendrick at $0.075 per share until October 26, 2010. Sage is also pleased to appoint Mr. Ian Kilgour as a financial consultant. Mr. Kilgour has a degree in economics and has had an extensive career in the investment business. Over the past few years Mr. Kilgour has assisted junior private and public companies in financings, with emphasis on mining. The Company has granted Mr. Kilgour 120,000 stock options at $0.075 per share until October 26, 2010. Sage's main focus is to build a mining corporation through exploration and acquisition of advanced development and production targets, primarily in gold and silver. There are 38,467,961 issued and outstanding common shares. This release was prepared by management of the Company who takes full responsibility for its contents. The Canadian Trading and Quotation System Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. Some statements 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 statements.