Santa Fe Metals Corp.
TSX VENTURE : SFM

Santa Fe Metals Corp.

March 31, 2011 17:34 ET

Santa Fe Metals Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2011) - Santa Fe Metals Corp. ("the Company") (TSX VENTURE:SFM) announces that it will raise $800,000 by way of a non-brokered private placement of 10 million units at a price of $0.08 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 $0.11 per share. The private placement is subject to regulatory approval. Proceeds will be used primarily for working capital.

SANTA FE METALS CORP.

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.

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