Source: Santa Fe Gold Corporation
ALBUQUERQUE, N.M., Dec. 28, 2017 (GLOBE NEWSWIRE) -- Santa Fe Gold Corporation (OTC:SFEG), a U.S. based mining and exploration enterprise with emphasis on Gold, Silver, Copper, Precious, Industrial and Base metals and owner of multiple claims, including the Malone Mines complex incorporating 20 associated mine sites, the Playas Lake Bed area of Hidalgo County, New Mexico and a Silver mining opportunity with a potential major Porphyry Silver discovery, is pleased to announce it has received an additional US$849,958.17 with additional funding expected from International Investment Group and its associated investors, bringing their overall stake in SFEG to upwards of $6 Million converted to equity at prices close to recent market quotes.
Completion of Purchase of AG1 Silver Mines Group
The Company expects to Complete 100% of Purchase of Bullard's Peak Corporation and Black Hawk Consolidated Mines comprising the AG1 Silver Mine and Potential Silver Porphyry Discovery and all other related assets within the first week of the New Year.
Four Highly Prospective Exciting New Acquisitions
The Company also anticipates announcing at least four new acquisitions within the early part of the first quarter, details of which will be announced in the near future with other potential acquisitions already being negotiated or in the process of acquisition. Company's aim is to continue to add quality high grade Gold and Silver mines and valuable metals and mineral deposits to its portfolio as outlined from inception under its new management.
President and CEO Tom Laws Comments
"We are delighted with the increased investment in Santa Fe Gold which demonstrates confidence in our ongoing near-term plans. We expect to close on the AG1 Silver Mines early in the new year as well as being able to give additional details on why we are excited about this and other new acquisitions. In addition, we are confident in our overall strategy and continued ability to secure very attractive properties and additional investments which reflects favorably on our capacity to identify, research, qualify and secure some exceptional additional acquisitions we are currently working on: We expect 2018 to be a very exciting year for Santa Fe shareholders."
About Santa Fe Gold
Santa Fe Gold is a U.S.-based mining and exploration enterprise and owns the following mining assets: The Knight’s Peak region of Grant County, New Mexico comprising the Malone Mines, Patanka, Hillcrest Barranca and Principal Mines, altogether incorporating some twenty mine sites and all located at Knight’s Peak, together with an expanded area surrounding the Malone Mines in the southern region of Burro Mountains, New Mexico. The company also owns very significant holdings in the Playas Lake Bed Area of Hidalgo County that includes the presences of Titanium ore and other rare earth minerals and deposits.
Santa Fe Gold is in the process of adding additional properties and two mining companies to its portfolio, with very substantial Silver holdings including Cobalt, Lithium, Manganese, Nickel and other rare earths currently being investigated. Currently historic data is being utilized to develop a current estimate of the gross value for these mines.
Santa Fe Gold’s Exploration and Development Team continues to be very active re acquisition of multiple additional properties as it finalizes analysis of a number of attractive, economically viable prospects. The company continues to execute on its aggressive acquisition program that is totally focused on positioning Santa Fe Gold to resume mining and production operations as expected in the near to medium term.
Santa Fe Gold Corporation
Frank Mueller, CFO