SANTA FE METALS CORP
September 22, 2014 TSX.V:SFM
Santa Fe Metals Corporation (SFM: TSXV) ("SFM" or the "Company") announces that it is has executed an extension agreement with Gravitas Metals Corp. ("Gravitas") which holds the option to acquire 80% of the Sully Property located 30-‐kms east of the Sullivan Mine at Kimberley, BC.
The Company has extended the option to purchase Gravitas until September 2015. Under the
terms of the agreement as revised, SFM must now deliver to Gravitas, on or before September
23, 2015, a written commitment to issue to Gravitas's shareholders an aggregate of 14 million shares (or a minimum 35 per cent of the share capital of SFM) on a pro rata basis; SFM is also required to pay to the holders of the Sully property all cash and other payments required to be made by Gravitas pursuant to the underlying option agreement among Gravitas and the holders of the Sully property.
Gravitas has also extended the term of its option with the vendors of the Sully Project. In order for Gravitas to earn its 80-‐per-‐cent interest in the Sully property, Gravitas must now incur a total of $3-‐million in exploration expenditures by October 21, 2016, and issue $1.41-‐million in cash or shares to the underlying property vendors by October 21, 2017. An 80/20 joint venture will be formed at the time of exercise of the option. A 2-‐per-‐cent NSR (net smelter royalty) will be held in favour of the underlying vendors, half of which may be purchased for $5-‐million.
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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