Santa Fe Metals Corp.
TSX VENTURE : SFM

Santa Fe Metals Corp.

November 13, 2009 17:32 ET

Santa Fe Metals Corp. Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2009) - Santa Fe Metals Corp. (TSX VENTURE:SFM) Board of Directors has granted 75,000 stock options to a Company consultant under the terms of the Company's Incentive Stock Option Plan. Each option is exercisable for a two-year period at a price of $0.10 per share.

About Santa Fe Metals Corp.
Santa Fe Metals Corp. is a diversified base and precious metals explorer with near-term copper production plans on its Cuatro Ciénegas property. Underground development and leaching operations are scheduled to commence in the first half of 2010. The Company continues exploring its 20,000Ha Lobos property where surface mapping, sampling and diamond drilling over the past 18 months have identified precious metal and polymetallic targets both in hydrothermal breccias and limestones. Exploration activities in the Lobos limestone formation over a strike length of 6km on the northern side of the concession have mapped small scale argentiferous antimony and mercury mines, frequently indicator minerals for the presence of Carbonate Replacement Deposits ("CRDs") at depth. Surface sampling has identified anomalous values of gold (to 0.80 g/t), silver (to 780 g/t), lead (0.3%), zinc (0.6%) and copper (0.1%).

CRDs are highly desirable mining targets of which Mexico has many examples. Typically these form as chimneys with tonnages in the 10-13Mt range and grades of 2-20%+ combined lead and zinc, 60-600 g/t silver, trace to 2% copper and trace to 6 g/t gold1. The company intends to conduct a geophysics program to identify targets for subsequent diamond drilling.

The Company's management team and board of directors have over 200 years of combined industry experience, with numerous well-known success stories to their credit. Further information is available on the Company's website www.santafemetals.com.

Ian B. 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 of the Lobos and Cuatro Ciénegas 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 an economic resource will be developed at either property. Actual results may vary materially from those described in forward-looking statements.


1 CARBONATE-HOSTED Pb-Zn-Ag-Cu-Au REPLACEMENT DEPOSITS: AN EXPLORATION PERSPECTIVE; Peter K.M. Megaw, PhD 1998.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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