SFM

Santa Fe Metals Corporation (TSX VENTURE:SFM) ("SFM" or the "Company") announces
that drill hole SU14-07 is now over 1000-m deep (equivalent to a vertical depth
of approximately 900 m from surface), with an excellent trajectory toward the
East sedimentary exhalative (SEDEX) target at the Sully Project. 


The top of the East Target is interpreted at a depth of 800 to 1,000-m from
surface. SU14-07 started at -70 degrees east has flattened to -60 degrees. It is
interpreted that at least two sub-horizontal faults and two sub-vertical faults,
all with significant offset, were intersected by this drill hole. Challenging
ground conditions associated with the most recent sub-vertical fault have slowed
advance rates. A cross section showing the current geological interpretation,
geophysical targets and traces of nearby historic drill holes can be seen at the
Company's website (www.santafemetals.com). The drill hole is anticipated to
reach the western edge of the East target range shortly, and to completely test
the full width of the target range within the next 500-m of drilling. 


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. 


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

To view the figure associated with this press release, please visit the
following link: http://media3.marketwire.com/docs/942274_fig.pdf. 


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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