November 27, 2014 TSX.V:SFM
Santa Fe Metals Corporation (SFM: TSXV) ("SFM" or the "Company") announces that it has signed a Letter of Intent ("LOI") with Philippine Metals Inc. (TSX-‐V:PHI) ("PMI") to sell 100% of its interest in the Cuatro Ciénegas property ("Property") in Mexico to PMI, by way of an option agreement.
The project was previously the subject of a similar agreement with Brigadier Gold Ltd. Concurrently with the PMI LOI, Brigadier and SFM have mutually released each other as to the previous option agreement on the Property.
The LOI contemplates an upfront payment to the Company of $25,000 (which was received on November 26, 2014) and a further payment of $25,000 on receipt of TSX Venture Exchange approval. Additionally, PMI has agreed to pay further consideration of $575,000 over a period of 24 months to be satisfied by the issuance of PMI shares or cash, with the shares being issued at the then Market Price (as defined by TSX Venture Exchange Policies).
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.
Scott E. Broughton, P.Eng., President and CEO www.santafemetals.com
604.684.2900
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