The TSX Venture Exchange has accepted for filing a purchase and sale agreement dated Sept. 29, 2014, among Santa Barbara Resources Ltd. and ERCED SAC, a privately owned Peruvian entity. Pursuant to the agreement, Santa Barbara has granted ERCED the option to acquire the company's wholly owned subsidiary, Santa Barbara Resources Peru SAC.

The terms of the agreement require that ERCED:

• Pay the company $615,000 (U.S.) on signing (received);
• Pay the company $615,000 (U.S.) on closing of the transaction.

Please refer to the company's news releases dated Oct. 6, 2014, and Nov. 19, 2014, for further information.