Santa Fe Metals Corp.

Santa Fe Metals Corp.

June 10, 2009 20:05 ET

Santa Fe Metals Files Statement of Claim

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 10, 2009) - Santa Fe Metals Corporation (TSX VENTURE:SFM) ("Santa Fe" or the "Corporation") announces that it has filed a statement of claim (the "Statement of Claim") against GLR Resources Inc. ("GLR") and Linear Gold Corp. ("Linear") alleging that GLR had purported to enter into an agreement with Linear (the "Linear Agreement") for the sale of GLR's 100% owned Goldfields project (the "Goldfields Project") after a winning bid for the Goldfields Project submitted by Santa Fe had already become a binding and enforceable agreement (the "Santa Fe/GLR Agreement"). The Statement of Claim also alleges that Linear had knowledge of the material terms of the Santa Fe/GLR Agreement and induced the breach of or wrongfully interfered with the Santa Fe/GLR Agreement by entering into the Linear Agreement.

Santa Fe had been constructively working with GLR to execute a definitive agreement with the intention of closing the transaction in June, 2009. Unknown to Santa Fe, on May 26th, 2009, each of GLR and Linear announced that they had entered into a definitive agreement for the purchase by Linear of the Goldfields Project.

Further details of the action can be found in the Writ of Summons and Statement of Claim, which are available on Santa Fe's website at

About Santa Fe Metals Corp.

The Corporation's mission is to utilize the broad experience and expertise of its management team and board to aggressively identify and develop precious and base metal properties. The Corporation's management and board together have more than 200 years of industry experience in senior corporate positions encompassing exploration, mining and metallurgical engineering, operations, project management, finance and accounting and mining, corporate and securities law. Further information is available on the Corporation's website


IAN SMITH, President & CEO

Information in news release contains certain forward-looking statements which may include but are not limited to the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or a variation of such words and phrases or may state that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Santa Fe Metals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements include estimates, forecasts, and statements as to management's expectations with respect to, among other things, the acquisition by Santa Fe of the Goldfields Project. These forward-looking statements involve numerous assumptions, risks and uncertainties and actual results may vary materially.

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.

Contact Information