A Barometer of Progress to Date: Already Producing and Readying Gold and Silver Ore for Shipment to Smelters, Santa Fe Gold was Recently Ranked Ninth Among the Top 10 US based Mid-Tier and Junior Precious Metals Companies

The Northern Miner, a Prestigious and Leading Mining Industry Trade Journal, in its August 8 2019 issue, lists Santa Fe Gold ninth among the top 10 US based mid-tier and junior precious metals companies

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Chairman Brian Adair adds $600k investment in SFEG to $1 Million for 2019

ALBUQUERQUE, N.M., Aug. 21, 2019 (GLOBE NEWSWIRE) -- Santa Fe Gold (US-OTC: SFEG) began mining operations at its Jim Crow gold-silver mine in the historic Steeple Rock mining district of southwestern New Mexico in May and is currently producing and readying ore for shipment.

The company expects production from the Jim Crow mine will generate funds to finance development of its other mines in the district including the nearby Three Brothers mine,  the adjacent Imperial mine, as well as the Bilalli mine, 6.4 km north of Jim Crow. Santa Fe Gold plans to have all four mines in production as rapidly as progress will allow and can be achieved.

In addition to its four past-producing mines in Steeple Rock, Santa Fe Gold has acquired five other historic silver mines: the Alhambra, Black Hawk, Silver King, Good Hope and Bullard’s Peak mines. These are covered by 13 patented claims and 83 unpatented claims in the Black Hawk district in Grant County, 24 km southwest of Silver City, in New Mexico. Santa Fe is reviewing development options for the assets.

Chairman Brian Adair Comments

Progress at our Jim Crow mine continues to impress. Having deftly acquired the Jim Crow and 10 other mines in the Steeple Rock district at the start of 2019, the company has wasted no time in bringing the first of these mines, the Jim Crow mine into condition for sustained production in just five months following acquisition.

Over the past three years, the company's strategy has been to take advantage of the lower prices of gold and silver and acquire as many high grade quality mines and deposits as economically viable.

The company has thus far managed to secure a portfolio of 148 mining claims covering some 42 potential mines and mine sites and is now intent on developing each mine at an attainable pace as it brings multiple mines into production one after another. Fortuitously, recent strong upsurges in precious metals prices and robust markets continue to increasingly benefit our business and value model.

Also, during this past three year era of accumulation and more recently production: At strategic intervals of achievement, I have periodically increased my own personal investment in Santa Fe Gold with increasing confidence at each milestone and improvement in the company's prospects.

Earlier this year, I added $400,000 more to the company at 8 cents per share for five Million shares and last week as the company began to raise significant amounts of ore to the surface, I elected to further increase my investment by and additional $600,000 at 8 cents, both times by private placement. This brings my total investment in Santa Fe Gold for the first eight months of 2019 to $1 Million and my overall investment in the company to more than $2.1 Million.

I am doing this with high confidence in Santa Fe Gold’s increasingly bright future and its ability to bring multiple additional mines into production over a relatively short period of time.

As Santa Fe Gold continues to grow and production increases further and new mines are brought on line and as other important objectives and milestones are reached, I may further increase my total investment in the company, both by private placement and possibly also by buying in the open market. 

Once again, I would like to especially thank our mining and exploration team for their outstanding efforts in bringing Santa Fe Gold into production in minimal time and for their expertise and ongoing development work in advancing the preparation of the additional ten mines Steeple Rock and Billali Gold and Silver Mines that are scheduled for new production. 

I would also like to re-emphasize the potential ongoing developmental work and analysis of the Five Silver Mine Black Hawk Alhambra Complex. Santa Fe expects to be announcing results of operations soon with analysis from multiple mines within the district. 

It should need no elaboration that bringing a mid size gold and silver mine into production is a massive undertaking, requiring a tremendous amount of mine development and preparation, underground tunneling and additional infrastructure necessary for voluminous pre-production that is required to achieve and maintain steady, stable and sustainable output. New ore has to be continuously mined at an increasing rate to ensure future growth in output can be maintained at a scalable pace until maximum production is achieved and can be sustainable for the future. 

Given our considerable achievements to date, our over-riding goal continues to be to maximize output at a steadily increasing and sustainable pace and thereafter add additional capacity from new mines that will be under continuous development.

Technical Advisor Dan Gorski Adds

Santa Fe has capitalized on the prolonged period of depressed precious metal prices to establish a very strong position in the historic Steeple Rock gold district. We believe this contrarian approach is going to yield impressive returns as the precious metal markets recover.

About Santa Fe Gold

We are a mining company engaged in the business of acquisitions and intended development of and production from mining and mineral properties.

This release may contain certain “forward-looking” statements, which represent the Company’s expectations or beliefs, including but not limited to, statements concerning the company’s planned operations, financial condition, ability to obtain capital, and growth and acquisition strategies.

Additionally, in order to implement and expand the business strategy of the Company as reflected in this press release, the Company may be required to obtain additional capital to continue operations.  There can be no assurance that the Company will be successful in obtaining required capital to execute and further our business plan and strategy outside of our available funding sources. However, as production and shipments increase, revenues from gold, silver and flux sales are expected to increasingly cover operating costs and strict operational cost controls should contribute to a higher net.

For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intent,” “intends,” “could,” “should,” “estimate,” “might,” “plan,” “predict,” “strategy” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements.

This information may involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from the future results, performance or achievements expressed or implied by any forward-looking statements.

For more information, investors should review the SEC filings on our website.

Production is Ongoing as Mined Resources are Increasingly Being Lifted Daily to the Surface and Stockpiled Pending Crushing and Shipment to potential buyers

Santa Fe Gold Preparing to Release Completed Annual and Quarterly Reports Pending Final Review by Auditors Bringing the Company Fully Up to Date

ALBUQUERQUE, N.M., Sept. 06, 2019 (GLOBE NEWSWIRE) -- Santa Fe Gold Corporation OTC (SFEG), a U.S. based mining company that currently ranks #9 of the top ten US based mid-tier and junior precious metals companies (as cited by prestigious mining industry trade journal, The Northern Miner), with 148 mining claims covering 42 mine sites and potential mines, is continuing to develop production of economic grade, high silica vein gold and silver siliceous vein material from its Jim Crow mine and is now stockpiling siliceous vein material at its new surface staging facilities pending crushing and shipment. 

Santa Fe recently acquired and is installing a high capacity crushing facility capable of processing 150 tons per hour, with sufficient volume capabilities to process acceptable siliceous vein material quality to meet expected shipping and smelting requirements for the foreseeable future.

Management’s initial goal is to produce between 50 to 100 tons of gold and silver siliceous vein material per day from the Jim Crow Mine and increase to an aggregate 500 tons per day from several mines in the foreseeable future.

The company continues to develop further gold and silver siliceous vein material from the 200' and 300' veins both laterally and at depth within the Jim Crow mine. 

Once maximum output gold and silver siliceous vein material production is achieved from the Jim Crow Mine, the plan is to further exploit and develop the adjacent Imperial Mine and also now the Three Brothers mine, expected to intersect from the Jim Crow mine, as further underground development is achieved. Thereafter, a potential “down dip” extension of the Imperial vein should also soon be accessible from the Jim Crow Mine, a further 300' to the west, where historic diamond drilling indicates additional mineralized gold and silver quartz veins are present within.

Chairman Brian Adair Comments

Our strategy to acquire 148 mining claims and 42 potential Gold and Silver mines covering several potentially large-scale mining territories, believed to be economically viable, has benefited from the recent increase in metals prices and production from the ongoing development and future output of our gold and silver mines.

Our goal continues to be to maximize output at a steadily increasing and sustainable pace and thereafter add capacity from development of additional mines in the future.

New Technologies to further improve upon and maximize metals and minerals recovery

In addition to vein detection technology, the company is investigating adoption of new processing technologies, previously unavailable, that promise to separate additional gold, silver and other potentially valuable minerals within the siliceous vein material bodies Santa Fe Gold plans to access. This could substantially increase production and shipment, not only from the Jim Crow, but from anticipated output of all of its mines.

Technical Advisor Dan Gorski Adds

The potential ability to attain profitable production from the Jim Crow mine and other mines in the Steeple Rock district, coupled with the longer-term development of the Alhambra Mine and other mines in the Black Hawk district, with higher asset prices, makes Santa Fe Gold a particularly unique opportunity.

Black Hawk Alhambra Complex of Five Silver Mines

The increased silver price should augur well for our Black Hawk-Alhambra Silver Mine Complex comprising 5 silver mines, namely the Alhambra, Black Hawk, Silver King, Good Hope and Bullard's Peak mines, and numerous other carbonate veins showing metal values at surface. These mines are covered by 13 patented claims and 83 un-patented claims in the Black Hawk district located in Grant County, approximately 15 miles southwest of Silver City, NM. 

The district has a history of operations dating back more than a century, is of an important geologic type known as 'Five Element Veins' with high grades of silver, associated nickel and cobalt values.

Santa Fe management plans to develop a phased project approach to locate and develop the potential high-grade silver lenses within these veins.

About Santa Fe Gold

We are a mining company engaged in the business of acquisitions and intended development of and production from mining and mineral properties.

This release may contain certain “forward-looking” statements, which represent the Company’s expectations or beliefs, including but not limited to, statements concerning the company’s planned operations, financial condition, ability to obtain capital, and growth and acquisition strategies.

Additionally, in order to implement and expand the business strategy of the Company as reflected in this press release, the Company may be required to obtain additional capital to continue operations.  There can be no assurance that the Company will be successful in obtaining required capital to execute and further our business plan and strategy outside of our available funding sources. 

For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the siliceous vein material going, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intent,” “intends,” “could,” “should,” “estimate,” “might,” “plan,” “predict,” “strategy” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements.

This information may involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from the future results, performance or achievements expressed or implied by any forward-looking statements.

For siliceous vein material information, investors should review the SEC filings on our website.