Santa Fe Gold Corporation has completed lengthy negotiations with Jakes Jordaan, its former President, CEO and Director, regarding his accrued wages and certain accrued legal fees to his law firm. In this connection, Mr. Jordaan and the Company have entered into a Compromise and Settlement Agreement, dated as of April 10, 2017, and Mr. Jordaan has confirmed his resignation from the Company's Board as of May 6, 2016.