Santa Fe Gold, page-39

PRESS RELEASE
July 28, 2014, 8:30 a.m. EDT
Santa Fe Gold Announces Updated Resource Estimate for the Summit Mine



VANCOUVER, Canada, July 28, 2014 /PRNewswire/ -- Santa Fe Gold Corporation ("Santa Fe") (otcqb:SFEG) is pleased to announce an updated resource estimate for the Summit Mine, located in New Mexico, USA.
Moose Mountain Technical Services, an independent mining consulting firm, has recently completed an updated Mineral Resource estimate for the Company's Summit mine in accordance with the Canadian Institute of Mining and Metallurgy ("CIM") Standards. A summary of the new mineral resource estimate is tabulated below:

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8
0	Class	43-101 Resource Estimate	Contained Metal (Ounces)
1	Tons	In Situ Grades
2	AuEq*	Au	Ag	Au	Ag	AuEq*
3	(OPT)	(OPT)	(OPT)
4	Indicated	212,800	0.25	0.13	7.16	28,090	1,523,010	53,473
5	Inferred	627,209	0.28	0.13	8.94	80,283	5,604,112	173,685
6	Total	840,009	0.27	0.13	8.48	108,372	7,127,122	227,158

Cut - Off Grade = 0.14 OPT  (Ounces Per Ton) AuEq.
* (Gold Equivalent) AuEq calculated at 60:1 Silver to Gold Ratio
Mr. Catalin Chiloflischi, President & CEO, Santa Fe Gold states:
"We are very pleased with the increase in resource at the Summit mine. The new resource model should allow us to add an additional year of production to our original plans. This new resource is sufficient for six years of production for the Summit mine at a planned production rate of 400 tons per day. During the projected six-year mine life, the Summit mine is expected to produce an average of about 25-30,000 gold equivalent ounces annually.
Santa Fe is now focused on completing the previously announced $22million gold bond financing together with an investment bank with whom new management have enjoyed a long-standing relationship. Contingent on financing, Santa Fe plans to restart production at the Summit Mine and Lordsburg mill in the fourth quarter of 2014."
Mr. Garry Biles, Chief Operating Officer of Santa Fe, is the Qualified Person pursuant to NI 43-101 who reviewed and approved the scientific and technical information included in this news release.