Santa Fe Gold Secures New Committed Equity Financing Facility

Santa Fe Gold Corporation (OTCBB: SFEG) today announced that it
has entered into a committed equity financing facility under which it
may sell up to $15 million of its registered common stock to Glengrove
Small Cap Value, Ltd. over an approximately 24-month period. Santa Fe is
not obligated to utilize any portion of the equity facility and remains
free to enter into other financing transactions. Santa Fe will
determine, at its sole discretion, the timing, dollar amount and floor
price per share for any draw under the facility, subject to certain
conditions. When and if Santa Fe elects to use the facility, the number
and price of shares sold in each draw will be determined by a
contractual formula, whereby the Company will issue shares to Glengrove
at a pre-negotiated discount to the volume weighted average price of
Santa Fe′s common stock over a preceding period of trading days.

In connection with the execution of the equity financing facility, Santa
Fe will issue to Glengrove 666,666 shares of registered common stock as
a commitment fee. The offer and sale of shares by Santa Fe under the
equity facility have been registered pursuant to a shelf registration
statement declared effective with the Securities and Exchange Commission
on December 29, 2009. Santa Fe intends to use the net proceeds from any
sale of shares under the facility for working capital and other general
corporate purposes.

Dr. W. Pierce Carson, CEO, said, 'We are delighted to have entered into
this new equity financing facility, which should provide us with access
to additional working capital to support our operations, while allowing
for control over timing and dilution.?

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities, nor shall there be any sale
of securities in any jurisdiction in which an offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of such jurisdiction.

About Santa Fe Gold:

Santa Fe Gold is a U.S.-based mining and exploration enterprise focused
on acquiring and developing gold, silver, copper and industrial mineral
properties. Santa Fe controls: (i) the Summit mine and Lordsburg mill in
southwestern New Mexico, which began commercial production in 2012; (ii)
a substantial land position near the Lordsburg mill, comprising the core
of the Lordsburg Mining District; (iii) the Ortiz gold property in
north-central New Mexico; (iv) the Black Canyon mica deposit near
Phoenix, Arizona; and (v) a deposit of micaceous iron oxide (MIO) in
western Arizona. Santa Fe Gold intends to build a portfolio of
high-quality, diversified mineral assets with an emphasis on precious
metals.

To learn more about Santa Fe Gold, visit www.santafegoldcorp.com.

Cautionary Note Regarding Forward-Looking Statements:

This press release contains forward-looking statements and
forward-looking information (collectively, 'forward-looking statements?)
within the meaning of applicable US and Canadian securities legislation.
All statements, other than statements of historical fact, included
herein are forward-looking statements. Although the Company believes
that such statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking statements are
typically identified by words such as: believe, expect, anticipate,
intend, estimate, postulate and similar expressions, or are those,
which, by their nature, refer to future events. The Company cautions
investors that any forward-looking statements by the Company are not
guarantees of future results or performance, and that actual results may
differ materially from those in forward looking statements as a result
of various factors, including, but not limited to, variations in the
nature, quality and quantity of any mineral deposits that may be
located, variations in the market price of any mineral products the
Company may produce or plan to produce, the Company's inability to
obtain any necessary permits, consents or authorizations required for
its activities, the Company's inability to produce minerals from its
properties successfully or profitably, to continue its projected growth,
to raise the necessary capital or to be fully able to implement its
business strategies, and other risks and uncertainties disclosed in the
Company′s Annual Report on Form 10-K for the year ended June 30, 2011
and its most recent quarterly reports filed with the United States
Securities and Exchange Commission (the 'SEC?), and other information
released by the Company and filed with the appropriate regulatory
agencies. All of the Company's US public disclosure filings may be
accessed via www.sec.gov
and its Canadian public disclosure filings may be accessed via www.sedar.com,
and readers are urged to review these materials.

Santa Fe Gold Corp

Pierce Carson, President and Chief Executive
Officer

505-255-4852

or

Investor Relations

Torrey
Hills Capital

Clay Chase

858-456-7300

cc@sdthc.com