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File: SFM News 22SEP14 Sullly Extension.pdf

                                                                           
  
                                                                           
  




             
  

            SANTA
  FE
  �
  EXTENSION
  OF
  SULLY
  PROPERTY
  AGREEMENTS
  
  
September
  22,
  2014
   
                   
          
           
           
          
          
           
           TSX.V:SFM
  

  

Santa
   Fe
   Metals
   Corporation
   (SFM:
   TSXV)
   ("SFM"
   or
   the
   "Company")
   announces
   that
   it
   is
   has
  
executed
   an
   extension
   agreement
   with
   Gravitas
   Metals
   Corp.
   ("Gravitas")
   which
   holds
   the
  
option
   to
   acquire
   80%
   of
   the
   Sully
   Property
   located
   30-kms
   east
   of
   the
   Sullivan
   Mine
   at
  
Kimberley,
  BC.
  

The
  Company
  has
  extended
  the
  option
  to
  purchase
  Gravitas
  until
  September
  2015.
  
  Under
  the
  
terms
   of
   the
   agreement
   as
   revised,
   SFM
   must
   now
   deliver
   to
   Gravitas,
   on
   or
   before
   September
  
23,
  2015,
  a
  written
  commitment
  to
  issue
  to
  Gravitas's
  shareholders
  an
  aggregate
  of
  14
  million
  
shares
  (or
  a
  minimum
  35
  per
  cent
  of
  the
  share
  capital
  of
  SFM)
  on
  a
  pro
  rata
  basis;
  SFM
  is
  also
  
required
   to
   pay
   to
   the
   holders
   of
   the
   Sully
   property
   all
   cash
   and
   other
   payments
   required
   to
   be
  
made
  by
  Gravitas
  pursuant
  to
  the
  underlying
  option
  agreement
  among
  Gravitas
  and
  the
  holders
  
of
  the
  Sully
  property.
  

Gravitas
  has
  also
  extended
  the
  term
  of
  its
  option
  with
  the
  vendors
  of
  the
  Sully
  Project.
  In
  order
  
for
   Gravitas
   to
   earn
   its
   80-per-cent
   interest
   in
   the
   Sully
   property,
   Gravitas
   must
   now
   incur
   a
  
total
  of
  $3-million
  in
  exploration
  expenditures
  by
  October
  21,
  2016,
  and
  issue
  $1.41-million
  in
  
cash
   or
   shares
   to
   the
   underlying
   property
   vendors
   by
   October
   21,
   2017.
   An
   80/20
   joint
   venture
  
will
   be
   formed
   at
   the
   time
   of
   exercise
   of
   the
   option.
   A
   2-per-cent
   NSR
   (net
   smelter
   royalty)
   will
  
be
  held
  in
  favour
  of
  the
  underlying
  vendors,
  half
  of
  which
  may
  be
  purchased
  for
  $5-million.
  


  
Neither
  the
  TSX
  Venture
  Exchange
  nor
  its
  Regulation
  Services
  Provider
  (as
  that
  term
  is
  defined
  in
  
the
  policies
  of
  the
  TSX
  Venture
  Exchange)
  accepts
  responsibility
  for
  the
  adequacy
  or
  accuracy
  of
  
this
  release.
  
  


  
Scott
  E.
  Broughton,
  P.Eng.,
  
  
President
  and
  CEO
  
  
www.santafemetals.com
  
  
604.684.2900
  
  
 

File: SFM News 22SEP14 Sullly Extension.docx

 
/
SANTA FE - EXTENSION OF SULLY PROPERTY AGREEMENTS 
September 22, 2014         TSX.V:SFM 
Santa Fe Metals Corporation (SFM: TSXV) ("SFM" or the "Company") announces that it is has executed an extension agreem
--->ent with Gravitas Metals Corp. ("Gravitas") which holds the option to acquire 80% of the Sully Property located 30-kms
---> east of the Sullivan Mine at Kimberley, BC.
The Company has extended the option to purchase Gravitas until September 2015.  Under the terms of the agreement as re
--->vised, SFM must now deliver to Gravitas, on or before September 23, 2015, a written commitment to issue to Gravitas's 
--->shareholders an aggregate of 14 million shares (or a minimum 35 per cent of the share capital of SFM) on a pro rata ba
--->sis; SFM is also required to pay to the holders of the Sully property all cash and other payments required to be made 
--->by Gravitas pursuant to the underlying option agreement among Gravitas and the holders of the Sully property.
Gravitas has also extended the term of its option with the vendors of the Sully Project. In order for Gravitas to earn
---> its 80-per-cent interest in the Sully property, Gravitas must now incur a total of $3-million in exploration expendit
--->ures by October 21, 2016, and issue $1.41-million in cash or shares to the underlying property vendors by October 21, 
--->2017. An 80/20 joint venture will be formed at the time of exercise of the option. A 2-per-cent NSR (net smelter royal
--->ty) will be held in favour of the underlying vendors, half of which may be purchased for $5-million.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 
--->TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

Scott E. Broughton, P.Eng., 
President and CEO 
www.santafemetals.com 
604.684.2900