Sage Gold and Consolidated Puma Announce Shareholder Approval of Plan of Arrangement

Sage Gold Inc. (TSX VENTURE:SGX) ("Sage") and Consolidated Puma Minerals Corp.
(TSX VENTURE:CPW) ("Puma") are pleased to announce that shareholders of Puma
have today approved the proposed Plan of Arrangement between Puma and Sage.


Completion of the transaction is subject to approval of the British Columbia
court and the TSX Venture Exchange. Puma and Sage anticipate that closing of the
Plan of Arrangement will take place on or about August 6, 2009.


Nigel Lees, Sage's President and CEO commented that, "Combining with Puma
creates a strong platform to implement our business plan and continue an
aggressive exploration program on the principle properties in the Beardmore
Geraldton Gold camp. This is the first acquisition in the Company's strategy to
leverage its strong management team and exciting properties to grow the company
and enhance shareholder value."


Sage is a mineral exploration and development company which has interests in
exploration properties in Ontario, Quebec, Nevada and Arizona. Its main
properties are the Jacobus, Paint Lake, Solomon Pillars and Onaman properties in
the Beardmore Geraldton Gold camp and the Kerrs property in Ontario; and the
Gold Hill property in Arizona. Technical reports relating to the properties can
be obtained from the System for Electronic Document Analysis and Retrieval
("SEDAR") website at www.sedar.com.


Puma is a mineral exploration and development company which previously owned a
platinum group metals exploration property in the Kola Peninsula of Northwest
Russia, and currently has more than $3 million of cash. Further information can
be obtained from the SEDAR website at www.sedar.com.


This release was prepared by management of the Sage and Puma who takes full
responsibility for its contents.


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, future results of
exploration programs, future profitability and production, and general market,
economic and financing conditions. Sage and Puma disclaim any obligation to
update forward-looking statements.