Stock Options Granted

SEGO RESOURCES INC.

Suite 718-744 West Hastings Street Vancouver BC V6C 1A5 TSX-V: SGZ Tel: (604) 682-2933 Toll Free: 1-866-683-2933 Fax: (604) 569-2532 www.segoresources.com

NEWS RELEASE - AMENDED January 27, 2011 Stock Options Granted

The board of directors of Sego Resources Inc. has approved stock options as proposed by the compensation committee. The approved options will be in accordance with the company’s Stock Option Plan. Options total 3,075,000 at a price of $0.17 for a period of five years. Options are subject to the approval of the TSX-Venture Exchange.

J. Paul Stevenson, CEO Sego Resources Inc.

“No regulatory authority has approved or disapproved the information contained in this news release. This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statement of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, statements are not guarantees of future performance and actual results or developments may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.”