On May 06, 2016, the Board of Directors of Santa Fe Gold Corporation terminated Jakes Jordaan's employment as President and CEO effective immediately. At the same time, the Board appointed Erich Hofer, Santa Fe's Chairman, as Interim Chief Executive Officer. Mr. Hofer will continue to serve as Chairman.

Mr. Hofer, who has served as Chairman of Santa Fe since October 2014, has been involved in a wide array of corporate finance and strategic transactions. As principal of HFE MAC LLC since 2007, Mr. Hofer provides management and advisory services to public and private companies.