Announcement • Apr 29
Santa Fe Minerals Limited, Annual General Meeting, May 28, 2026 Santa Fe Minerals Limited, Annual General Meeting, May 28, 2026. Location: at santa fe`s company secretarial office, nexia perth, located at level 4, 88 william street, perth, western australia Australia New Risk • Mar 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 9.7% per year over the past 5 years. Shareholders have been substantially diluted in the past year (124% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$65.9m market cap, or US$46.5m). Announcement • Feb 03
Santa Fe Minerals Limited (ASX:SFM) completed the acquisition of Glomin Services Limited from WIA Gold Limited (ASX:WIA). Santa Fe Minerals Limited (ASX:SFM) entered into a binding share purchase agreement to acquire Glomin Services Limited from WIA Gold Limited (ASX:WIA) for AUD 5.2 million on November 26, 2025. The consideration payable by SFM to WIA is comprised of the following: 20 million shares in SFM. The Consideration Shares will be subject to an escrow period for 12 months following the completion date, subject to customary exceptions and 8 million performance rights convertible into shares in SFM.
The transaction is subject to completion of placement, approval by regulatory board / committee, approval of offer by acquirer shareholders and third party approval needed. The expected completion of the transaction is February 23, 2026. On January 19, 2026, it was announced that all the conditions precedent under the sale agreement, except for completion of the capital raising, have been satisfied. Santa Fe expects to be in receipt of funds for the capital raising by the end of this week, with completion of the transaction expected to occur by the end of January 2026.
Santa Fe Minerals Limited (ASX:SFM) completed the acquisition of Glomin Services Limited from WIA Gold Limited (ASX:WIA) on February 2, 2026. Announcement • Jan 28
Santa Fe Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 6 million. Santa Fe Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 6 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 30,000,000
Price\Range: AUD 0.2
Discount Per Security: AUD 0.012
Transaction Features: Subsequent Direct Listing Announcement • Oct 24
Santa Fe Minerals Limited, Annual General Meeting, Nov 21, 2025 Santa Fe Minerals Limited, Annual General Meeting, Nov 21, 2025. Location: at the office of the company`s accountants, nexia perth, located at level 4, 88 william street, perth, western australia Australia Announcement • Sep 18
Santa Fe Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 1.2 million. Santa Fe Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 1.2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 24,000,000
Price\Range: AUD 0.05
Discount Per Security: AUD 0.002
Transaction Features: Subsequent Direct Listing New Risk • Sep 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 33% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (50% average daily change). Earnings have declined by 11% per year over the past 5 years. Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$28.6m market cap, or US$19.1m). New Risk • Aug 21
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.9m (US$9.59m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (51% average daily change). Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$14.9m market cap, or US$9.59m). Announcement • Jul 04
Santa Fe Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.2 million. Santa Fe Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 24,000,000
Price\Range: AUD 0.05
Discount Per Security: AUD 0.002
Transaction Features: Subsequent Direct Listing Board Change • May 26
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Apr 22
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Mar 03
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Dec 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Nov 26
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Oct 11
Santa Fe Minerals Limited, Annual General Meeting, Nov 19, 2024 Santa Fe Minerals Limited, Annual General Meeting, Nov 19, 2024. Location: at the office of the companys accountants, nexia perth, at level 4, 88 william street, perth, western australia, Australia Board Change • Jul 30
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Apr 22
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Apr 04
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Feb 09
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jan 02
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Nov 14
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Oct 24
Santa Fe Minerals Limited, Annual General Meeting, Nov 23, 2023 Santa Fe Minerals Limited, Annual General Meeting, Nov 23, 2023, at 12:00 W. Australia Standard Time. Location: Nexia Perth, Level 3, 88 William Street Perth Western Australia Australia Agenda: To receive and consider the financial report of the Company together with the reports of the directors and the auditor for the financial year ended 30 June 2023; to consider Non-Binding Resolution to adopt Remuneration Report; to consider re-election of Mr. Mark Jones as a Director; and to consider approval of 10% Placement Facility. Board Change • Sep 18
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Sep 04
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Aug 08
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • May 30
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • May 08
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Mar 21
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Feb 28
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jan 12
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Nov 23
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Oct 22
Santa Fe Minerals Limited, Annual General Meeting, Nov 25, 2022 Santa Fe Minerals Limited, Annual General Meeting, Nov 25, 2022, at 12:30 W. Australia Standard Time. Location: Level 3 88 William Street, Perth, Western Australia Perth Australia Agenda: To consider adoption of the remuneration Report; to consider re-election of Mr. Terence Brown as a Director; to consider the approval of proportional takeover provisions; to consider approval of 10% Placement Facility; and to consider other matters. Board Change • Oct 17
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Oct 14
Santa Fe Minerals Limited Completes Watsons Well Drilling Santa Fe Minerals Ltd. advised Reverse Circulation (RC) drilling has concluded on its Watsons Well Vanadium-Titanium-Iron target. SFM also reports the delayed ultrafine soil sampling program has now been completed on the Mt Murray base metal project. A total of 10 Reverse Circulation holes were drilled for 1,492m to test the thicker central area of the 7km long Watsons Well high magnetic zone where previous rock chip samples returned 1.2% to 1.3% V2O5, 13% to 15% TiO2 and 50% to 52% Fe from massive magnetite layers. (SFM Exploration Update 5th April 2022). Two sections of drill-holes were completed 400m apart with all holes angled at -60 degrees to the east. Drill holes were spaced at a nominal 80m and completed to set depths of 149m or 150m. All ten drillholes intersected broad zones of strong magnetite which is associated with the vanadium, titanium and iron mineralization. Strong magnetite downhole intervals range from 1 to 2m through to 35m with multiple zones in each drillhole. All samples have been delivered to the Laboratory and analytical results are expected within 12 weeks. The 7km long Watsons Well magnetic high zone was first identified in the 1960s and 1970s. It was interpreted as a possible feeder dyke to the Windimurra igneous complex and subsequently explored for nickel - copper - PGE mineralization by various companies, including WMC. Programs of broad spaced soil and lag sampling identified nickel, copper, and PGE values consistent with the interpreted underlying rock types. There were no standout targets, and no additional work was completed. Mapping in 2015 identified magnetite cumulate layers in anorthosite associated with broad areas of anomalous Vanadium 3000ppm to 6870ppm, (Perring 2015) supporting an alternative interpretation that the Watsons Well magnetic high zone is a faulted offset of the Shepherds Discordant Zone that hosts the large Windimurra Vanadium deposit located 70km to the north of Watsons Well. SFM complete addition close spaced lag sampling and rock chip sampling over the central part of the Watsons Well zone returning V2O5 grades up to 1.64% (SFM Exploration Update 14/11/2018). Subsequent mapping and rock chip sampling identified massive magnetite cumulate layers over 5km of the 7km strike with high grades of 1.18% to 1.33% V2O5, 9.97% to 15.2% TiO2 and 44.12% to 52.74% Fe. (SFM Exploration Update 5th April 2022). The massive magnetite layers range up to about 1m thick and appear in outcrop to be semi continuous along strike and similar in appearance to the mineralised zones at the Windimurra vanaduium deposit (Ivanic, 2019). The Mt Murray project covers a 9km north south trending zone of poly metallic copper-lead- zinc-silver-gold mineralisation adjacent to a 4.2km x 1.2km magnetic high zone considered to represent a mafic-ultramafic intrusive package prospective for nickel-copper-PGE mineralisation similar to the recently discovered tier one Julimar Ni-Cu-PGE deposit (Chalice Mining Ltd). SFM has now completed the Ultrafine soil sampling program originally planned for the June quarter (SFM ASX Exploration Update 4th April 2022). The sampling was delayed due to unseasonal wet weather and the availability of a field sampling team. A total of 1,221 samples were collected every 50m along 200m and 400m space lines. All samples will be processed by Labwest using their Ultrafine (UFF) fraction technique. An orientation sampling program comparing conventional -1mm soil sampling with the UFF method completed by SFM at Mt Murray early in 2022 concluded: Analytical quality of the UFF -2 micron was significantly better than the -1mm results. UFF samples returned higher absolute concentrations when compared with the -1mm samples. Lithological and regolith controls are subtle in the UFF samples and better resolved than the -1mm samples. The UFF sample results are expected to be reported within 12 weeks. Announcement • Sep 26
Santa Fe Minerals Limited Announces Drilling Commences At Watson's Well Santa Fe Minerals Ltd. advised Reverse Circulation (RC) drilling has commenced at its Watsons Well Vanadium-Titanium-Iron target. It is expected the program will take 1-2 weeks to complete. Results will be reported late in the December quarter once analytical data is received. The 7km long Watsons Well magnetite high zone was first identified in the 1960s and 1970s. It was interpreted as a possible feeder dyke to the Windimurra igneous complex and subsequently explored for nickel - copper - PGE mineralization by various companies, including WMC. Programs of broad spaced soil and lag sampling identified nickel, copper, and PGE values consistent with the interpreted underlying rock types. There were no standout targets, and no additional work was completed. Mapping in 2015 identified magnetite cumulate layers in anorthosite associated with broad areas of anomalous vanadium (3000ppm to 6870ppm, WMC sampling, 2004) supporting an alternative interpretation that the Watsons Well magnetite high zone is a faulted offset of the Shepherds Discordant Zone that hosts the large Windimurra Vanadium deposit (Perring 2015). SFM complete additional close spaced lag sampling and rock chip sampling over the central part of the Watsons Well zone returning V2O5 grades up to 1.64% (SFM Exploration Update 14 November 2018). Subsequent mapping and rock chip sampling identified massive magnetite cumulate layers over 5km of the 7km strike with high grades of 1.18% to 1.33% V2O5, 9.97% to 15.2% TiO2 and 44.12% to 52.74% Fe. (SFM ASX Exploration Update 5 April 2022). The magnetite layers range up to about 1m thick and appear in outcrop to be semi continuous along strike similar in appearance to the mineralised zones at Windimurra (Ivanic, 2019) An RC drilling program of 10-15 holes for 1,500m - 2,000m is planned to test the thicker central area of the 7km long Watsons Well high magnetic zone adjacent to rock chip samples that returned 1.2% - 1.3% V2O5, 13% 15% TiO2 and 50% to 52% Fe. Two sections of holes will be completed 400m apart with all holes to be drilled angled at -60 degrees to the east to a nominal depth of 150m. The drilling will be completed in 1-2 weeks and analytical results are expected to be received and reported late in the December quarter. Board Change • Aug 17
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jul 13
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jun 14
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 06
Santa Fe Minerals Limited Provides an Exploration Update for its Mt Murray (Base Metals) and Challa (Vanadium) Projects Santa Fe Minerals Ltd. provided an exploration update for its Mt Murray (Base Metals) and Challa (Vanadium) projects. Mt Murray Base Metals Project SFM has an option to earn 80% The Mt Murray project covers a 9km north south trending zone of poly metallic copper-lead- zinc-silver-gold mineralisation adjacent to a 4.2km x 1.2km magnetic high zone considered to represent a mafic-ultramafic intrusive package prospective for nickel-copper-PGE mineralisation similar to the recently discovered tier one Julimar Ni-Cu-PGE deposit (Chalice Mining Ltd). El Paso Intrusive (Ni-Cu-PGE) The El Paso zone is a 5km long high magnetic zone interpreted as a mafic to ultramafic intrusive complex prospective for Ni-Cu-PGE mineralization. Previous exploration identified a small outcrop of ultramafic rocks with only one rock chip sample that returned 2,965ppm Cu, 781 ppm Ni, 5.4% Mg, 1.8g/t Ag and 419ppm S. Apart from this small outcrop and a second outcrop of silicified ultramafic rocks located by SFM, the interpreted intrusive complex is completely covered by shallow sand and alluvial cover. SFM considers the interpreted mafic- ultramafic complex within the Mt Murray project has potential to host nickel-copper- palladium-platinum mineralisation. SFM Rock Chip Sampling SFM undertook a site reconnaissance trip in December 2021 and visited the previously located outcrop confirming strong silicification and alteration. A second outcrop of altered ultramafic was located 500m to the south-west. The intervening area is covered by sandplain. SFM collected a total of 6 rock chip samples which were submitted for a nickel/PGE suite analysis. The results confirm the historic samples with Ni to 1040ppm, Cr to 1280 ppm Mg to 12.97%. Orientation Ultrafine Soil Sampling SFM completed an orientation Ultrafine Fraction (UFF) soil program across the interpreted position of the intrusive complex. It was considered traditional sieved soil sampling would not be effective due to the prevalence of wind-blown sand which would swamp the geochemical response to background levels geochemistry. The UFF soil sample technique is an ultra- sensitive new exploration technique developed by CSIRO in conjunction with LabWest that was successfully demonstrated in a combined CSIRO/MRIWA Project. SFM collected 49 x 300g -1mm sieved soil samples spaced at 50m along 2 lines orientated across the interpreted position of the targeted intrusive complex. One line was 2km long and the second line, 3km to the south, was 400m long. The samples were split to a -1mm traditional sieved soil and the UFF (-2-micron clay fraction) technique. A comparison of the results showed: Analytical quality of the UFF -2 micron was significantly better than the -1mm results. UFF samples returned higher absolute concentrations when compared with the - 1mm samples. Lithological and regolith controls are subtle in the UFF samples and better resolved than the -1mm samples. It is expected that a gridded soil sample program using the UFF technique will be able to better resolve geochemical anomalies and outline the targeted intrusive beneath the shallow sand cover. The UFF soil sampling program is planned for the June 2022 quarter. The UFF soil sampling and a planned 100m line spacing detailed aeromagnetic survey (current line spacing is 400m) contracted to be flown early in the June 2022 quarter will provide robust data sets for additional geophysics and drilling. Ridgeback Cu-Pb-Zn-Ag-Au The Ridgeback target is located 700m south of the historic Kin copper occurrences. The area was previously highlighted by a zone of anomalous Cu-Pb-Zn-As-Au from stream sediment sampling and a strong late time airborne electromagnetic anomaly that may indicate the presence of massive sulphide mineralisation at depth (ASX announcement 12th January 2022). No follow up exploration of this zone has been reported. SFM completed reconnaissance of the Ridgeback zone in December 2021, identifying multiple broad and strike extensive quartz ironstone veins associated with the historic anomalous zone. A total of 5 rock samples were collected and submitted for multi-element analysis. The sample results exhibit a strong Au-Ag-As-Cu-Sn association, similar to the Kin copper prospects located 700m to the north. The best results from the Ridgeback rock chip samples are 59ppb Au, 450ppb Ag, 3080 ppm As, 629 ppm Cu. A rock chip from the Kin copper pits returned a high 11% Cu with 1490ppm As, 72 ppb Au, 300ppb Ag and 561ppm Sn. Mineralization has now been identified over 2.5km strike from the Ridgeback prospect through to north of the historic Kin prospects. To the north of here the wind-blown sand conceals the bedrock and any possible mineralization. This area, adjacent to the El Paso Ni- Cu-PGE target, will be explored by the UFF soil sample technique discussed above. Highway (Pb-Zn) The Highway Pb-Zn-Ag-Au prospect (The Hill) is located adjacent to the North-West Coastal Highway west of the El Paso nickel-copper target. Historic rock chip samples returned very high results of up to 39.6% Pb, 134g/t Ag, 0.46g/t Au and 0.1% Zn. SFM rock chip sampling in December 2021 confirmed the historic samples with results of 12% Pb, 272 ppm Ag, 244 ppb Au and 1270ppm Zn. The mineralisation is hosted in chert and quartz over about 300m strike. The mineralization may extend along strike to the south and north however it is hidden beneath shallow sand cover. Despite the high grades, no drilling has been recorded at the Highway prospect. The potential strike extent of the high-grade Highway prospect will be tested north and south by the ultrafine fraction (UFF) soil technique in the June 2022 quarter. Watson's Well Vanadium: The results of the rock chip samples collected from several discrete 1m wide bands of magnetite rich cumulate units bounded by gabbro associated with the 7km long highmagnetic zone are reported here. The samples were collected as part of geological fact mapping of the Watsons Well V-Ti-Fe target zone. A total of 10 rock samples were collected from small widely spaced outcrops over the 7km strike of the target zone. All rock chips returned high grades as follows: V2O5 1.18% to 1.33%; TiO2 - 9.97% to 15.2%; Fe - 44.12% to 52.74%. The next exploration program will be two lines of RC drilling of 10-20 holes for 2,000 to 2,500m to test both the outcropping high grade magnetite cumulate units and deeper unexposed and potentially thicker magnetite cumulate units near the gabbro footwall. SFM is currently planning and permitting this program. Timing will depend on securing a suitable RC drilling contractor, however drilling is anticipated in the June Quarter 2022. Announcement • Jan 13
Santa Fe Minerals Ltd Provides an Exploration Update for Its Mt Murray and Challa Projects Santa Fe Minerals Ltd. provided an exploration update for its Mt Murray (Base Metals) and Challa projects (Gold and Vanadium). Mt Murray Base Metals Project: SFM recently signed an exclusive option agreement to earn 80% of the Mt Murray base metals project in Western Australia. The Mt Murray project covers a 9km north south trending zone of poly metallic copper-lead-zinc-silver-gold mineralisation adjacent to a 4.2km x 1.2km magnetic high zone considered to represent a mafic-ultramafic intrusive package prospective for nickel-copper-PGE mineralisation similar to the recently discovered tier one Julimar Ni-Cu-PGE deposit (Chalice Mining Ltd). El Paso Intrusive (Ni-Cu-PGE): The El Paso zone is a 5km long high magnetic zone interpreted as a mafic to ultramafic intrusive complex prospective for Ni-Cu-PGE mineralization. Previous exploration identified a small outcrop of ultramafic rocks with only one rock chip sample that returned 2,965ppm Cu, 781 ppm Ni, 5.4% Mg, 1.8g/t Ag and 419ppm S. The sample was not assayed for platinum or palladium. Apart from this small outcrop and a second outcrop of silicified ultramafic rocks located by SFM, the interpreted intrusive complex is completely covered by shallow sand and alluvial cover. SFM considers the interpreted mafic-ultramafic complex within the Mt Murray project has potential to host nickel-copper-palladium, platinum mineralisation similar to the Chalice Mining tier one Ni-Cu-PGE discovery at Julimar. SFM recently undertook a site reconnaissance trip and visited the previously located outcrop confirming strong silicification and alteration. A second outcrop of altered ultramafic was located 500m to the south-west. The intervening area is covered by sandplain. SFM collected a total of 6 rock chip samples which have been submitted for a nickel/PGE suite analysis. Results are expected in late February 2022. SFM also collected 49 sieved soil samples spaced 50m apart to cover the 2km cross strike position of the interpreted intrusive complex. A second line of soil samples was collected 3km further south across the magnetic high /interpreted intrusive. The samples are currently with LabWest, Malaga for both a conventional soil sample analysis and Ultrafine fraction analysis (< 2 micron fraction). The results, available in February 2022, will be used to determine the most effective sampling regime to outline the location of the mafic-ultramafic intrusive complex below the sandplain cover. It is expected the ultrafine soil fraction analysis will be able to outline the target area beneath the sand cover and as such a detailed grid-based sampling program will be undertaken. SFM will also consider a range of other exploration techniques including detailed ground magnetic surveys and electromagnetic surveys to outline targets for drill testing. Polymetalic Cu-Pb-Zn-Ag-Au prospects: The Mt Murray project covers several base metal occurrences over 9km strike associated with a north-south trending fault clearly identified in the magnetics on the eastern flank of a regional gravity high thought to represent the Kilba Granite to the west. The historic base metal prospects range from Pb-Ag in the north through to Cu-Pb-Zn-Au-Ag in the south. Historic exploration work tested only the outcropping areas adjacent to the known base metal occurrences. The 4km strike between the historic Kin Cu pits and the Highway Pb-Zn-Ag-Au prospect to the north, concealed beneath sandplain cover has had no effective exploration. SFM interprets this zone where the fault bends from a north strike to a north- west strike to be a target for structurally hosted base metal deposits. The base metal target is concealed beneath shallow sand and SFM plans to explore this area in conjunction with the adjacent El Paso Ni-Cu PGE target. Board Change • Oct 06
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Terry Brown was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Mar 14
Santa Fe Minerals Limited Receives Analytical Results from the 25 Aircore Drill-Hole Program Completed at the Brian's Patch Gold Target Near Mt Magnet in Western Australia Santa Fe Minerals Limited announced that it has received analytical results from the 25 aircore drill-hole program completed at the Brian's Patch gold target near Mt Magnet in Western Australia. The Brian's Patch area was defined over 600m x 300m by a surface geochemistry gold anomaly and several gold nugget patches within laterite. The core of the gold anomaly at >10ppb Au is in two sections. The north section is 300m x 150m with a maximum gold result of 305ppb and the southern section is 250m x100m with a maximum gold result of 42ppb. There is no outcrop and the laterite cover is only 1-5m thick. A total of 25 AC drillholes for 1,323m were drilled on two lines to test for bedrock gold mineralisation beneath the Brians Patch soil anomaly. All holes were angled to the east and drilled to depths between 44m and 69m. Samples were nominally collected over 4m intervals down hole. Gold distribution within the holes showed strong anomalism in the 0-4m range and at depth near the base of weathering. Anomalous gold values from the 0-4m sample interval ranged from 20-80ppb and occur within laterite gravels immediately above indurated and completely weathered bedrock. These gravels are the host of gold nuggets reported from areas adjacent to the current drilling. Deeper anomalous gold results occur in CHAC007 (40-44m,109ppb Au) CHAC008 (40-44m, 145ppb Au), CHAC018 (28-32m, 111 ppb Au) and CHAC025 (40-44m, 236 ppb Au). These results occur above and near the base of weathering and do not appear to reflect the source of the gold nuggets. It is likely the source of the gold anomaly and gold nuggets in the gravels is east of the current drilling. The next steps are to review the previous surface sampling with respect to the regolith type and determine likely origin of the gold anomalies. Announcement • Jan 21
Santa Fe Minerals Ltd Commences Drilling at Brian's Patch Santa Fe Minerals Ltd. advised that a 25 hole aircore drilling commenced at its Brian's Patch gold target in Western Australia. The Brian's Patch area is defined over 600m x 300m by a historic surface geochemistry gold anomaly and several gold nugget patches within laterite. The core of the gold anomaly at >10ppb Au is in two sections. The north section is 300m x 150m with a maximum gold result of 305ppb and the southern section is 250m x100m with a maximum gold result of 42ppb. There is no outcrop and the laterite cover is only 2-5m thick. The 25 Aircore drill hole program is designed to test for bedrock gold mineralisation beneath both the northern and southern soil anomalies. The program will take approximately 5 days to complete, with assay results expected in late February, 2021. Announcement • Dec 18
Santa Fe Minerals Limited Announces Executive Changes Santa Fe Minerals Ltd. advised that Mrs. Krystel Kirou has stepped down as Company Secretary whilst she takes maternity leave. The Company announced the appointment of Mr. Henko Vos as Company Secretary, effective immediately. For the purpose of ASX Listing Rule 12.6, the Company confirms that Mr. Vos will be responsible for communication between the Company and the ASX. 