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EX-99.1 - PRESS RELEASE DATED FEBRUARY 7, 2011 - Santa Fe Gold CORPexhibit99-1.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported) February 7, 2011

SANTA FE GOLD CORPORATION
(Exact Name of Registrant as Specified in Its Charter)

Delaware
(State or Other Jurisdiction of Incorporation)

001-12974 84-1094315
(Commission File Number) (IRS Employer Identification No.)

1128 Pennsylvania NE, Suite 200
Albuquerque, NM 87110
(Address of Principal Executive Offices)(Zip Code)

Registrant's Telephone Number, Including Area Code (505) 255-4852

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

( ) Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

( ) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a -12)

( ) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))

( ) Pre-commencement communications pursuant to Rule 13e-49(c) under the Exchange Act (17 CFR 240.13e -4(c))



Item 8.01. Other Events.

     On February 7, 2011, Santa Fe Gold Corporation (“Santa Fe”) issued a news release announcing that its Board of Directors had adopted a resolution rescinding the reverse stock split proposal from the voting agenda at the Annual Meeting of Stockholders, tentatively scheduled to be held on March 16, 2011. The Board of Directors determined that at this time the proposal of a reverse stock split would not be in the best interests of Santa Fe or its stockholders and Santa Fe intends to amend its preliminary proxy materials accordingly.

A copy of the press release is filed as Exhibit 99.1 hereto.

Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits.

(c) Exhibits

The following exhibits are filed herewith:

Exhibit  
Number                                                                                  Description
   
99.1 Press Release dated February 7, 2011

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized.

SANTA FE GOLD CORPORATION
(Registrant)

Date: February 10, 2011 /s/ W. Pierce Carson
  W. Pierce Carson
  Chief Executive Officer