SFM

Santa Fe Metals Corporation (TSX VENTURE:SFM) ("SFM" or the "Company") announces
that drill hole SU14-09 has reached a completion depth of 735-m. The project
team has determined that the large-scale East Target gravity mass is unlikely to
be found on the drill hole's current trajectory and observed geology.


The recent drill program has dramatically advanced understanding of the
geological setting at the Sully Project but it did not discover massive
sulphides. The Company remains attracted to the targets because of compelling
gravity and magnetic geophysical targets coincident with Sullivan Time horizon.
Further, no rocks intersected in the drilling can account for the large-scale
gravity mass anomaly demonstrated by several geophysical surveys. As a result,
management believes the targets remain valid and highlights there are many
places within the geological volume that remain to be tested by future drilling.


Drill holes SU14-06 to 09 have produced an abundance of core that has been the
subject of quick-logging and real-time assessment enabling the project team to
make rapid decisions while drilling. The team has now elected to suspend
drilling, complete documentation and refine interpretation of all new geological
information. The work will be done over the next several weeks and when
completed the Company will announce its future plans for new drilling and/or
other exploration for the project, including the East and West Targets. 


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. 




Scott E. Broughton, P.Eng.,                                                 
President and CEO                                                           



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

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