Santa Fe files Goldfields lawsuit claim statement

2009-06-10 20:35 ET - News Release

See News Release (C-SFM) Santa Fe Metals Corp

Mr. Ian Smith reports

SANTA FE METALS FILES STATEMENT OF CLAIM

Santa Fe Metals Corp. has filed a statement of claim against GLR Resources Inc. and Linear Gold Corp. alleging that GLR had purported to enter into an agreement with Linear for the sale of GLR's 100-per-cent-owned Goldfields project after a winning bid for the Goldfields project submitted by Santa Fe had already become a binding and enforceable agreement. The statement of claim also alleges that Linear had knowledge of the material terms of the Santa Fe/GLR agreement and induced the breach of or wrongfully interfered with the Santa Fe/GLR agreement by entering into the Linear agreement.

Santa Fe had been constructively working with GLR to execute a definitive agreement with the intention of closing the transaction in June, 2009. Unknown to Santa Fe, on May 26, 2009, each of GLR and Linear announced in Stockwatch news that they had entered into a definitive agreement for the purchase by Linear of the Goldfields project.