Santa  Fe  Metals  -  Sully  East  Target  Drilling  Update  

April  29,  2014                     TSX.V:SFM  

Santa  Fe  Metals  Corporation  (SFM:TSXv)  ("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  

www.santafemetals.com
604.684.2900  

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