SFM

Santa Fe Metals Corporation (TSX VENTURE:SFM) ("SFM" or the "Company") announces
that it is proceeding with its previously announced up to $1 million private
placement financing (the "Private Placement").


As disclosed in the Company's news release of January 27, 2014, the Private
Placement will be comprised of up to 10,000,000 flow-through ("FT") and
10,000,000 non flow-through ("NFT") units at a price of $0.05 per unit (the
"Unit") for gross proceeds of up to $1,000,000. Each FT Unit will be comprised
of one flow-through common share and one-half of a share purchase warrant. Each
NFT Unit will be comprised of one common share and one share purchase warrant.
Each whole share purchase warrant will entitle the holder to purchase one common
share of the Company at the price of $0.10 for a period of two years from the
date of closing of the Private Placement.


As disclosed in the Company's news release of September 25, 2013, the Company
entered into an option agreement with Gravitas Metals Corp. ("Gravitas") to
acquire all of the issued and outstanding shares of Gravitas (the "Gravitas
Option"), a private British Columbia company, which holds an option to earn an
80% interest in the Sully group of claims located near Fort Steele, British
Columbia (the "Sully Project"). In the January 27, 2014 news release announcing
the Private Placement, the Issuer indicated that it intended to use the proceeds
from the flow-through common shares to incur  Canadian exploration expenses as
defined in the Income Tax Act (Canada) to advance drilling and other exploration
activities on the Sully Project and to use the remaining net proceeds of the
Private Placement for general working capital purposes. To date the Company has
not exercised the Gravitas Option.


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


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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