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Near Term Production with Exploration Upside Investor Presentation | January 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.

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

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Highlights

CLAVOS

• 320,000 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

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Aggressive goal for both properties in production 2017 and 2019

Board of Directors

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Management has a long history of moving grassroots exploration projects into production

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.

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.

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.

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. .

Peter Freeman Director

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.

Management and Consultants

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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.

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.

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

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.

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.

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

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As at January 18, 2017 * 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, 102.3 million.

Timmins Gold Camp Clavos Project

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Purchased 40% minority interest in Clavos

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BREAKING NEWS

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

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Mineral Resources 10/2012

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Indicated Resources Inferred Resources

Tonnes Gr (g/t Au) Oz Au 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 4.20 33,000

Other - - - 112,000 6.00 22,000

Subtotal 1,167,100 4.88 183,000 636,000 4.80 98,000

Indicated Resources Inferred Resources

Tonnes Gr (g/t Au) Oz Au 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 1,300 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.

Hangingwall Zones

Contact Zones

Footwall Zones

Sediment Hosted Zones

Other Zones

0 100 200m

960 ZONE MAIN ZONE

MAIN ZONE 960 ZONE

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

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High grade exploration potential

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17.4 gpt/1.5m

N

KC99-154

S

5.9 gpt/0.9m

Looking East

10.9 gpt/0.5m

65.3 gpt/4.2m Incl. 374.1 g/t over 0.7m

9.4 gpt/1.0m

KC99-155

Contact

Zone

Sediment

Hosted

Zones

KC99-154

KC99-155

Hangingwall Zones

Contact Zones

Footwall Zones

Sediment Hosted Zones

Other Zones

Porphyry

Sediment

Altered Ultramafic

Ultramafic and Volcanics

At depth very good intersections,

and potentially another high

grade mine zone.

Exploration Potential

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Plunging high Grade Zones?

? ? ?

1.0 to 2.5

2.5 to 5.0

5.0 to 10.0

10.0 to 50.0

50.0+

Drillhole Au

Legend (gpt)

①

3 3

65.3 gpt/4.2m

7.0 gpt/1.5m 8.4 gpt/0.9m

10.5 gpt/3.4m

9.4 gpt/1.0m

960 ZONE MAIN ZONE Plunging high Grade Zones

Potential connection between

Main Zone and 960 Zone

Extension along strike

(east and west directions)

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2 3

1

2

3

0 200 400m

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

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Clavos PEA 2013 Economic Model

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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 $CAD million 8.0

Sustaining Capital $CAD million 21.1

Total Capital $CAD million 35.1

Operating Expense CAD t/Ore 142.5

Net Smelter Return CAD t/Ore 6.5

Cash flow (undiscounted) – See Note 2 $CAD million 34.0

Pre Tax – See Note 3

Net Present Value (NPV) 8% $CAD million 23.2

Internal Rate Of Return (IRR) % 71%

After Tax

Net Present Value (NPV) 8% $CAD million 12.6

Internal Rate Of Return (IRR) % 47%

Life of Mine Year 7

Payback Period Year 2.00

Note - assumes an exchange rate of 1:1 of CDN to US Dollar;

1. contingency on capital expenditures of 30% and represents 100% ownership

• Initial CAPEX $8 million

• Life of mine $14.1 million

2. tax rates are based on a blended rate between Sage and SAS

3. excludes any financing costs

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.

Onaman Property Lynx Deposit

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Situated in NW Ontario

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Path to Production … & Beyond

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Lac Des Iles(palladium‐platinum)

0                   35                  70km

OnamanProperty

Ontario

Northern Empire Mine (gold)

Leitch Mine (gold)

Brookbank Deposit(gold) 

Hemlo (gold)

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N

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North American Palladium Ltd.

Premier Gold Mines Ltd. & Centerra Gold Inc. 

Premier Gold Mines Ltd.

Barrick Gold Corp.

Sage Gold Inc.

ClavosProperty

Hardrock/Trans Canada Deposit (gold)

Mattabi Mine(zinc‐copper‐silver)

Laurion Minerals Exploration Inc. 

Marshall Lake Property(copper‐zinc‐silver‐gold)

Copper Lake Resources Ltd.

Other Company 

Wawa Subprovince

YoungerRocks

WabigoonSubprovince

ArcheanMetasediments

Ishkoday Property(copper‐gold)

Lake Superior

ONAMAN PROPERTY(copper‐gold‐zinc‐silver)

Gold‐dominant southern sedimentary belt

Polymetallic northern volcanic belt

TRANS CANADA HIGHWAY

TRANS CANADA HIGHWAY

Northwestern OntarioOnaman Property

Thunder BayMarathon

Beardmore

Geraldton

Lake Nipigon

Exploring for High Value VMS Deposits

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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

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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

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

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ONAMAN

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

Two properties, situated in established mining camps near industry players, offer production potential with low CAPEX, exploration upside and commodity diversification.

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Why invest?

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.

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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