Santa Fe Metals Corporation-Enters into Definitive Agreement for Iron Range and Grants Stock Options

Santa Fe Metals Corporation (TSX VENTURE:SFM) ("SFM" or the "Company") announces
it has signed a definitive agreement with Eagle Plains Resources Ltd. ("EPL")
specifying the terms for an earn-In option (the "Option") to acquire a 60%
interest in EPL's Iron Range Project ("Iron Range"). Iron Range hosts the same
stratigraphic rock assemblage as the historic Sullivan Mine, one of the largest
sedimentary exhalative (SEDEX) silver-lead-zinc deposits in the world, located
approximately 60-km north east of Iron Range.


As previously announced on March 18, 2014, Iron Range has had abundant
exploration success and many defined targets. SFM and EPL plan to focus on
Sullivan-time stratigraphy and the regional-scale fault complex at Iron Range
for sedimentary exhalative (SEDEX) and Iron-Oxide-Cu-Au (IOCG) target types on
the property. The 630 km2 Iron Range project, located near Creston, BC, is owned
100% by EPL subject to a 1% NSR on a portion of the claim group. A complete
description of past drill and other exploration results can be viewed at
http://www.eagleplains.com/projects/bc/ironrange/.


The Option comprises a commitment by SFM over a 5-year period to earn a 60%
interest in Iron Range by incurring exploration expenditures on Iron Range,
issuing SFM shares and making cash payments to EPL, subject to regulatory
approval including without limitation that of the TSX Venture Exchange (the
"Exchange"):




--  On Exchange approval: issuing 1 million SFM shares 
--  On or before December 31st, 2014: incurring $150K in exploration
    expenditures, and issuing an additional 1 million SFM shares and an
    additional $25K in cash; 
--  On or before December 31st, 2015: incurring an additional $350K in
    exploration expenditures, and issuing an additional 1 million SFM shares
    and an additional $50K in cash; 
--  On or before December 31st, 2016: incurring an additional $1.5 million
    in exploration expenditures, and issuing an additional 1 million SFM
    shares and an additional $75K in cash; 
--  On or before December 31st, 2017: incurring an additional $3.0 million
    in exploration expenditures, and issuing an additional 1 million SFM
    shares and an additional $150K in cash; and, 
--  On or before December 31st, 2018: incurring an additional $5.0 million
    in exploration expenditures, and issuing an additional 1 million SFM
    shares and an additional $200K in cash. 



All securities issued by SFM in connection herewith will have a statutory four
month hold period.


When all of the conditions of the definitive agreement have been met and SFM has
exercised the Option, a 60/40 joint venture will be formed to advance Iron
Range. EPL will be the operator of the Iron Range project during the term of the
Option.


Grant of Stock Options 

The Company reports that pursuant to its stock option plan and subject to
regulatory approval, a total of 1,834,000 incentive stock options have been
granted to directors, officers and consultants of the Company. The options are
exercisable at a price of $0.10 per share for a period of five years.


The TSX Venture Exchange has in no way passed upon the merits of the proposed
transaction and has neither approved nor disapproved the contents of this news
release.


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


FOR FURTHER INFORMATION PLEASE CONTACT: 
Santa Fe Metals Corporation
Scott E. Broughton, P.Eng.
President and CEO
604.684.2900
www.santafemetals.com