Sully  SEDEX  Project  -­‐  Drilling  Update  

April  21,  2014                     TSX.V:SFM  

Santa  Fe  Metals  Corp.  (SFM:TSXv)  ("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  

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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  

www.santafemetals.com
604.684.2900  

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