Santa Fe Gold Appoints Financial Expert to Board of Directors and Names New Officers

Santa Fe Gold Corporation (OTCBB: SFEG) is pleased to announce
that Erich Hofer has joined its board of directors. Mr. Hofer is an
unusually well qualified finance and management executive with over 30
years of international business experience in engineering, energy,
manufacturing and financial services. Mr. Hofer will serve as chairman
of Santa Fe′s audit committee and will provide additional corporate
services as the company may request.

As principal of HFE MAC LLC since 2007, Mr. Hofer provides management
and advisory services to public and private companies. Activities
include evaluation of all facets of work flow, development of business
models, restructuring finance and accounting processes, regulatory
compliance and risk management.

Mr. Hofer has assumed key management roles for clients, several of which
have been oil and gas companies. From 1999 to 2007, Mr. Hofer was CFO
for three Swiss technology, manufacturing and energy management
companies, and from 1995 to 1998 was financial controller for Zurich
State Bank. He also served as Chief of Logistics, Colonel and a Member
of General Staff in the Swiss Army.

Mr. Hofer holds a MBA degree from the University of Chicago; and three
degrees, including Master of Finance, Bachelor of Economics and Bachelor
of Engineering from universities in Switzerland. He is fluent in four
languages.

Pierce Carson, CEO of Santa Fe, said, 'John Frost and I are delighted to
welcome Erich. We are fortunate to have the benefit of his vast
experience in the area of financial management, especially at this
critical time in the strategic growth of our company. We look forward to
working closely with him as we expand our production profile at the
Summit mine and develop our other projects.?

Mr. Hofer said, 'I am excited about this challenge and am eager to help
formulate financial strategies for Santa Fe′s future. Pierce and his
team have done a terrific job in bringing the Summit mine online and the
company has quality projects in the pipeline. I believe Santa Fe is
poised for significant growth and I am pleased to contribute for the
benefit of all shareholders.?

Santa Fe also strengthened its management group with the appointment of
officers from within the organization, as follows:

John L. White was appointed Vice President, Operations. Mr. White joined
Santa Fe in April 2012. His primary responsibility is the management of
the Summit mine and Lordsburg processing plant, where the company
employs 65 people. Mr. White has over 35 years of diverse mining
experience in exploration, project development, construction and
operations. His previous employers include Salls Brothers Construction,
Inc., St. Cloud Mining Company, Texas Gulf, Inc., and Exxon Minerals
USA. Mr. White holds a B.S. Degree in Geological Sciences from the
University of Washington and a M.S. Degree in Geosciences from the
University of Arizona.

Michael P. Martinez was named Chief Financial Officer and Treasurer. Mr.
Martinez, CPA, joined Santa Fe Gold in April 2008 as Controller and
Accounting Manager. Mr. Martinez has 20 years of experience in public
and private accounting and financial management. Previously, he worked
for ten years as Financial Officer for a global aerospace manufacturing
company. Early in his career, he served for two years as a staff
accountant for KPMG Peat Marwick. Mr. Martinez holds a Bachelor of
Science Degree in Business Administration (Cum Laude) from the
University of Arizona and is a member of the New Mexico Society of CPA's.

Ryan P. Carson was named Secretary and Assistant Treasurer. Mr. Carson,
JD, joined Santa Fe Gold Corp in September 2005 as Manager Legal
Affairs. Previously he gained general legal experience with law firms in
Albuquerque, New Mexico and Phoenix, Arizona. Ryan is the eldest son of
the Company′s president, Pierce Carson. Mr. Carson holds a Bachelor of
Science Degree in Biology from the University of New Mexico and a JD
(law) Degree from Southern Methodist University in Dallas, Texas. Mr.
Carson is a member of the state bars of New Mexico and Texas and is
licensed to practice before the United States Patent and Trademark
Office.

The company also announced promotions within its wholly owned operating
subsidiary, the Lordsburg Mining Company, as follows:

Curtis Floyd was appointed Vice President, Lordsburg Mining Company. Mr.
Floyd joined Santa Fe Gold in October 2008 and initially was responsible
for mill refurbishment and construction at the Lordsburg mill site. He
was appointed Mill Superintendent of the Banner Mill in September 2010
and manages the operation and administration of the Banner Mill and
assay laboratory. He also manages sales of silica flux material to
Arizona smelters. Mr. Floyd has over 20 years experience in supervision
of milling operations, construction activities and maintenance of
mechanical equipment. His work experience includes 11 years with Phelps
Dodge Corporation at the Chino Copper Mine and Playas Smelter, and 5
years with St. Cloud Mining Company. Mr. Floyd holds an Associate Degree
in Applied Science from New Mexico State University.

Dennis Dalton was appointed General Manager of the Summit Mine. Mr.
Dalton joined Santa Fe Gold in October 2010 as Assistant Mine
Superintendent at the Summit Mine. Mr. Dalton has 25 years experience in
mine geology and engineering, mine supervision and environmental
engineering. His work experience includes 11 years with the Bunker Hill
Company where he held a number of engineering, operating, geological and
administrative positions on underground mines. Among other companies he
worked for as a geologist and engineer were Barrick Goldstrike Mines,
Inc. and Nord Resources Corporation. Mr. Dalton holds a Bachelor of
Science Degree in Geology from the University of California and a
Masters of Science Degree in Mining Engineering from the University of
Nevada. He is a Certified Professional Geologist, AIPG, and is a NI
43-101 Qualified Person.

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