Santa Fe Gold to Hold Conference Call on Monday, May 14 at 11:30 am EDT

Santa Fe Gold Corporation (OTCBB: SFEG) is pleased to announce
that President and CEO, Dr. Pierce Carson, will host a conference call
on Monday, May 14th, 2012, at 11:30 am EDT. Dr. Carson will update
shareholders, followed by a Question & Answer period. Topics will
include the March 2012 quarterly financial results recently reported on
Form 10-Q and available at www.sec.gov;
ramp up of production at the Summit silver-gold mine; and the status of
acquisition of Columbus Silver Corporation (TSXV: CSC).

Date: Monday, May 14th, 2012

Time: 11:30 am EDT (10:30 am CDT, 9:30
am MDT, 8:30 am PDT)

Please dial in to the meeting at least 5-10 minutes prior to the start
time using the attendee phone number and passcode. The conference call
will be recorded and posted to the Company's website.

Please note: This call will be accessible to all callers. Those who have
pre-registered on the Santa Fe Gold Corp website and already receive
Company updates will be issued a personalized pin number via email
before the call. This allows immediate entry to the conference call. If
you wish to be issued a personalized PIN for this (and future conference
calls) you may sign up no later than Friday, May 12, 2012, at 5:00 pm
EDT, at http://santafegoldcorp.com/home/node/508.

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 April
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 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, 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 Corporation

Pierce Carson, President and Chief
Executive Officer

505-255-4852

or

Investor Relations:

Torrey
Hills Capital

Clay Chase

858-456-7300

cc@sdthc.com