Santa Fe Gold Corporation Is Announcing That the U.S. Securities and Exchange Commission Has Issued a Temporary Trading Suspension of Its Securities

ALBUQUERQUE, N.M., July 02, 2020 (GLOBE NEWSWIRE) -- Santa Fe Gold Corporation, (OTC PINK: SFEG) (“Santa Fe Gold,” “SFEG”, or the “Company”) is announcing that the U.S. Securities and Exchange Commission has issued a temporary trading suspension of its securities beginning at 9:30 am EDT on June 30, 2020 terminating at 11:59 PM EDT on July 14, 2020.

The Commission temporarily suspended trading in the securities of SFEG based on Section 12(k) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) because of concerns about a lack of current and accurate information. The Company has completed the audits of its financial statements for its fiscal years ending June 30, 2017, 2018 and 2019 and will be filing a Form 10-K covering those years within the next week. The Company also plans for file each of its quarterly reports that are delinquent as soon as practical (the quarterly reports for the periods during the three years to be covered in the Form 10-K as well as the three quarterly reports for the fiscal year ended June 30, 2020) and expects to resume trading subject to satisfactory compliance and acceptance of its filings. Brian Adair, the Company’s Chairman stated: “We have been working diligently with our accounting and legal team to prepare the financial statements and periodic reports for the annual and quarterly periods necessary to bring the Company current in its SEC filing obligations.”  Mr. Adair continued: “Our auditors have completed the audits for each of our fiscal years ending June 30, 2017, 2018 and 2019 and we expect to file our annual report covering those years within the next week. We are committed to our shareholders and plan to fully cooperate with the Commission in order to seek removal of the temporary trading suspension and to permit resumption of trading on the OTC Pink market as soon as possible.”

About Santa Fe Gold

We are a mining company engaged in the business of acquisitions and intended development of future mines and production from existing mining and mineral properties.

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Contact

Frank Mueller, CFO

505-255-4852

Forward Looking Statements

This news release may contain Forward Looking Statements included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.