Santa Fe Gold to Immediately Begin Recommissioning Its Billali Mine To Boost Production Of Gold and Silver Siliceous Material From Two Mines As Soon As Possible

Company To Ramp Up Production As Rapidly As Possible To Meet Anticipated Increasing Smelter Demand, With Further Increases Expected Through 2020 And Beyond

Company Expects To Produce And Ship Maximum Attainable Output For 2020

Santa Fe Gold Anticipates Imminent Release of Annual and Quarterly Reports Following Its Final Review by Auditors Bringing the Company Fully Up to Date

ALBUQUERQUE, N.M., Dec. 27, 2019 (GLOBE NEWSWIRE) -- Santa Fe Gold Corporation, (SFEG) OTC, a U.S. based mining company that currently ranks 9^th out of the top ten US based mid-tier and junior precious metals companies (as cited by prestigious mining industry trade journal, The Northern Miner), with 148 mining claims covering 42 mine sites and potential mines to begin recommissioning forthwith, its Billali Mine to substantially increase output of its economic grade, high silica vein gold and silver siliceous vein material:

This, in addition to its already expanding production from its Jim Crow mine for delivery to a major smelter, under arrangement to ship all of its maximum attainable output as it builds to higher levels.

In order to achieve this, Management will continue to develop and increase production of gold and silver siliceous vein material from the Jim Crow Mine.

Concurrently with this ongoing development of the Jim Crow, the company will immediately begin recommissioning the nearby Billali Mine to further increase overall production of similar siliceous Gold and Silver vein material from that property.

Both of these mines have potential for expansion by developing already known parallel veins and extending the present workings along known strike lengths and by developing new levels throughout.

Chairman Brian Adair Comments

We are very pleased to announce expected further increases in output and shipments from the already producing Jim Crow mine, soon be augmented by new production from what we believe will be higher potential output from the Billali Mine that is expected to continue well into the future in annual output.

This should enable Santa Fe to ramp up production substantially over coming quarters and beyond.

Thereafter, it is expected Santa Fe will begin preparations to commence production from its Gold King and Imperial Mines, as sustainable output is achieved from Billali and Jim Crow to maintainable levels.

We believe production from multiple mines will have significant longer term impact on our bottom line.

I would like to take this opportunity to thank all of our shareholders and personnel and wish everyone: