Santa Fe Gold Reports Results of Annual Meeting

Santa Fe Gold Corporation (OTCBB: SFEG) today announced results
of voting at the Company′s Annual Meeting of Stockholders, held in
Albuquerque on May 18, 2011. Approximately 80 percent of outstanding
shares were represented at the meeting.

The director nominees Lawrence G. Olson, W. Pierce Carson and John E.
Frost were each re-elected to Santa Fe′s Board of Directors. Each was
elected with at least 97 percent of the votes cast.

Stockholders approved an amendment to Santa Fe′s Certificate of
Incorporation to change the number of authorized shares of common stock
from 200,000,000 shares to 300,000,000 shares. The proposal was approved
with approximately 90 percent of votes cast 'For?.

Stockholders also ratified the appointment of Stark Schenkein, LLP as
the Company′s independent registered public accounting firm for the
fiscal year ending June 30, 2011, with approximately 98 percent of votes
cast 'For?.

'We are grateful for the overwhelming support,? stated Larry Olson,
Chairman of the Board. 'We will redouble our efforts over the next year
to increase shareholder value.?

'Management and the Board would like to thank Santa Fe's shareholders
for their continued support and approval,' said Dr. Pierce Carson,
President and Chief Executive Officer. 'Our top priority will be to
bring the Summit silver-gold mine into full production. We expect
substantial increases in sales volumes as we ramp up to full production
in 2011.?

Dr. Carson continued, 'Our flotation mill has extra capacity, and
another important priority will be to acquire additional precious metal
assets for processing through the mill. This will further increase
production levels to take advantage of the current price environment.?

'In addition, over the next year we plan to advance our Ortiz gold
project and also to consider other strategic acquisitions. We believe
our strategy of building higher production levels and adding quality
assets will create a promising future for Santa Fe and its
shareholders,? Dr. Carson added.

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 processing operations in 2010; (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 and
processing equipment 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, 2010
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 Corporation

W. Pierce Carson, President and Chief
Executive Officer

505-255-4852