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8-K - CURRENT REPORT - Santa Fe Gold CORP | form8k.htm |
1128 Pennsylvania NE, Suite 200, Albuquerque, New Mexico 87110 | Tel: 505-255-4852 | www.santafegoldcorp.com
SANTA FE GOLD REPORTS RESULTS OF ANNUAL MEETING
ALBUQUERQUE, New Mexico May 31, 2011 Santa Fe Gold Corporation (OTCBB: SFEG) today announced results of voting at the Companys 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 Fes Board of Directors. Each was elected with at least 97 percent of the votes cast.
Stockholders approved an amendment to Santa Fes 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 Companys 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 Companys 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.
Contact:
Santa Fe Gold Corp
W. Pierce Carson,
President and Chief Executive Officer
505-255-4852