Santa Fe Metals Corp. (TSX VENTURE:SFM) ("SFM" or the "Company") announces that
drill hole SU14-07 is now over 610-m deep and is continuing on a planned
trajectory toward the East sedimentary exhalative (SEDEX) target. 


Trace amounts of sphalerite, galena and chalcopyrite (sulphide minerals of zinc,
lead and copper, respectively) have been logged in SU14-07 over a large
interval, and occur in greater amounts than observed in all previous drill holes
at Sully. These are typically scattered, and accompanied by pyrrhotite and
pyrite. The project team does not expect massive sulphides above a depth of
800-m based on gravity data interpretation and the occurrence of trace sulphides
at these depths in the current hole is very encouraging.


The drill hole also has four types of alteration not seen in previous drilling
that might indicate the potential for mineralization at depth or in the vicinity
of SU14-07, including; wavy seams of biotite (up to 4-mm); dolomite-quartz veins
(up to 300-mm); intense bleaching (up to 5-m); and, siliceous pods and lenses
(10 to 30mm) are possible exhalite beds.


The alteration most commonly associated with the large interval of trace
sulphides is dolomite-quartz veinlets and pods. This new observation is
intriguing as it is a feature similarly associated with large stratabound
copper- lead- zinc deposits.


The Sully Project

Sully is located near Fort Steele, 30-kilometres east of the world-famous
Sullivan mine at Kimberley, B.C. The East target is one of two gravity mass
anomalies estimated to come within 800 metres of surface, and extending to
depth. Coincident magnetic anomalies reinforce the positioning of the
large-scale gravity masses also estimated to be approximately 800m apart.
Management believes the best explanation for the twin gravity anomalies is the
presence of two very large vertically oriented SEDEX massive sulphide bodies.


The Sullivan Mine

Sullivan was discovered in 1892 and is one of the largest SEDEX deposits in the
world. Over its roughly 100-year lifetime, Sullivan produced almost 300 million
ounces of silver, 36 billion pounds of lead and zinc plus smaller amounts of
other metals, collectively worth over $40-billion at current metal prices. The
company cautions that past results or discoveries on proximate land are not
necessarily indicative of the results that may be achieved on the Sully
property.


Technical contents of the Sully project disclosure in this news release have
been reviewed and approved by Paul Ransom, P.Geo., a qualified person as defined
by National Instrument 43-101.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Santa Fe Metals Corp.
Scott E. Broughton, P.Eng.
President and CEO
604.684.2900
www.santafemetals.com

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