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8-K - FORM 8-K - Santa Fe Gold CORP | form8k.htm |
EX-99.2 - EXHIBIT 99.2 - Santa Fe Gold CORP | exhibit99-2.htm |
6100 Uptown Blvd NE, Suite 600, Albuquerque, New Mexico 87110 | Tel: 505-255-4852 | www.santafegoldcorp.com |
Santa Fe Gold Amends Mogollon Option Agreement
ALBUQUERQUE, New Mexico July 3, 2013 Santa Fe Gold Corporation (OTCBB: SFEG) today announced it has amended the Mogollon option agreement with Columbus Exploration Corporation (CLX-TSX-V) (formerly Columbus Silver Corporation) under which Santa Fe may earn 100% interest in the Mogollon Project, Catron County, New Mexico. The Mogollon Project encompasses most of the Mogollon district in southwest New Mexico, which has substantial recorded historical production of silver and gold. The project fits Santa Fes strategic objective of developing new ore sources to augment ore currently processed though its Lordsburg flotation mill.
The amendment changes the due dates for Santa Fes cash payments under the option agreement. Santa Fe must now pay US$50,000 on or before July 31, 2013, US$887,500 on or before December 30, 2013, and three further payments of US$937,500 each on June 30, 2014, December 30, 2014, and June 30, 2015. In consideration for the amendment, Santa Fe has transferred to Columbus the 250,000 common shares it held in the capital of Columbus Exploration Corporation.
A copy of the amendment to the Mogollon option agreement is included as an Exhibit to Santa Fes Current Report on Form 8-K, which it will file promptly with the SEC and will be available at www.sec.gov.
About Santa Fe Gold
Santa Fe Gold is a U.S.-based
mining enterprise with producing mining operations in Lordsburg, New Mexico, and
exploration and development projects in southwestern New Mexico, north-central
New Mexico and Arizona. 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 Mogollon gold-silver project, within
trucking distance of the Lordsburg mill; (iv) the Ortiz gold property in
north-central New Mexico; (v) the Black Canyon mica deposit near Phoenix,
Arizona; and (vi) 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 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, 2012 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 readers are urged to review these materials.
Contact:
Santa Fe Gold Corp
Pierce Carson,
President and Chief Executive Officer
(505) 255-4852