Santa Fe Gold to Hold Conference Call on Wednesday, October 17, at 2:00 PM EDT

Santa Fe Gold Corporation (OTCBB: SFEG) is pleased to announce
that President and CEO, Dr. Pierce Carson, will host a conference call
on Wednesday, October 17th, 2012, at 2:00 pm EDT. Dr. Carson will update
shareholders, followed by a Question & Answer period. Topics will
include the June 30, 2012 annual financial results reported on Form 10-K
and available at www.sec.gov,
production at the Summit gold-silver mine, acquisition of the Mogollon
project, and the recently announced agreement to merge with
International Goldfields Ltd. (ASX: IGS).

Please dial in to the meeting at least 5-10 minutes prior to the start
time using the attendee phone number and passcode. The conference call
will be recorded and posted to the Company's website.

Please note: This call will be accessible to all callers. Those who have
pre-registered on the Santa Fe Gold Corp website will be issued a
personalized pin number via email before the call. This allows immediate
entry to the conference call. If you wish to be issued a personalized
PIN for this (and future conference calls) you may sign up at http://santafegoldcorp.com/home/node/508.

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 achieved commercial production in 2012;
(ii) a substantial land position near the Lordsburg mill, comprising the
core of the Lordsburg Mining District; (iii) an option to acquire the
Mogollon precious metals project in southwestern New Mexico; (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 U.S. 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, 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 U.S. public disclosure filings may be
accessed via www.sec.gov,
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