Santa Fe Metals Corp.

Santa Fe Metals Corp.

February 19, 2010 12:48 ET

Santa Fe Metals Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 19, 2010) - Santa Fe Metals Corp. ("the Company") (TSX VENTURE:SFM) announces that it will raise $1,000,000 by way of a non-brokered private placement of 10 million units at a price of $0.10 per unit. Each unit will consist of one common share and one-half of a two-year warrant. One whole warrant entitles the holder to purchase one additional share at $0.15 per share. The warrants are subject to an accelerator clause which is triggered when the Company's shares trade at $0.45 or more for ten consecutive trading days. Proceeds will be used primarily to fund acquisitions of underperforming or near term producers in the gold sector. The private placement is subject to regulatory approval.


IAN SMITH, President & CEO

This release contains forward-looking statements, including statements relating to Santa Fe Metals' future plans and objectives with respect to the exploration and development of its properties. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in Santa Fe Metals' business, including risks inherent in resource exploration and development. There can be no assurance that economic resources will be developed at any of its properties. Actual results may vary materially from those described in forward-looking statements.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information