SFM

Editors Note: There is a photo associated with this press release.

Santa Fe Metals Corporation (TSX VENTURE:SFM) ("SFM" or the "Company") announces
that drill hole SU14-07 has reached a completion depth of 1,289-m at the Sully
Project, having successfully confirmed Lower Aldridge formation host rocks, and
importantly, a projection for Sullivan time that is coincident with the
large-scale East gravity mass. A new drill hole (SU14-08) will begin immediately
on a trajectory to intersect the East Target at approximately 900-m below
surface, see figure attached.


Aldridge Formation Host 

SU14-07 revealed that Aldridge Formation unit A1c is the likely host to the East
Target - this directly correlates with the stratigraphy that hosts the Sullivan
orebody, 30-kms to the west of Sully. Aldridge units A1a (lowest), A1b and A1c
were deposited on the Fort Steele Formation and all four units correlate with
the lower Aldridge Formation at Sullivan and elsewhere in the basin. A marked
thickening of A1c in SU14-07 implies proximity to an accumulation centre of an
inferred sub-basin assemblage. Within this thickening is a 50-m interval
containing traces of lead, zinc and copper sulphides and unusual thin silica
beds thought to be derived from hydrothermal solutions associated with formation
of a mineral deposit. 


Structural Setting 

A series of parallel low-angle, west-dipping faults was also intersected in
SU14-07. These have repeatedly offset the observed Aldridge stratigraphy (and
the projected target horizon) in discrete fault blocks stepping to the east with
depth. As shown on the attached figure, SU14-07 was unlikely to intersect the
target until much greater depths and as a result management has commenced a new
test hole aimed at a higher pierce point.


The Sully Project 

Sully is located near Fort Steele, 30-kms 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-m of surface, and extending to depth. Coincident
magnetic anomalies reinforce the positioning of the large-scale gravity masses
also estimated to be approximately 800-m 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. 


To view the photo associated with this release, please visit the following link: 
http://www.marketwire.com/library/20140507-sfm507-gr.jpg

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

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