CORRECTING and REPLACING - Santa Fe Gold Corporation

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| Source: Santa Fe Gold Corporation

ALBUQUERQUE, N.M., Dec. 28, 2017 (GLOBE NEWSWIRE) -- In a release issued earlier today by Santa Fe Gold Corporation (OTC:SFEG), with the headline, "Santa Fe Gold Expected to Announce At Least Four New Acquisitions in The First Quarter of 2018," we are advised by the company of a change to the headline. The new headline is, "International Investment Group Increases Stake In Santa Fe Gold To $6M To Expand Portfolio of Production Assets." In addition, subheadlines have been added to the release. The corrected release follows:

International Investment Group Increases Stake In Santa Fe Gold To $6M To Expand Portfolio of Production Assets

Company Expects to Complete 100% of Purchase of Silver Mines: Bullard's Peak Corporation and Black Hawk Consolidated Mines In Opening Days of 2018, With Production Expected to Begin In The Interim Thereafter

Nearly $850,000 Recently Received As Additional Investment With More To Come, Demonstrates Increasingly Strong Statement Of Confidence In The Company's Strategic Development Plans And Highly Experienced Management Team

Santa Fe Gold Expected to Announce At Least Four New Acquisitions In The First Quarter of 2018

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 really 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.

For more information and to register for updates:

Please visit www.santafegoldcorp.com.

Forward Looking Statements

Please refer to the Forward-Looking Statements link at the bottom left of Santa Fe Gold's website for all relevant disclosures.

Contact:
Santa Fe Gold Corporation
Frank Mueller, CFO
(505) 255-4852