Santa Fe Minerals : 26 February 2021 - Half Year Accounts

ABN 59 151 155 734

Interim Financial Report

For the half-year ended 31 December 2020

Contents

Page
Corporate Information	2
Directors' Report	3
Auditor's Independence Declaration	10
Condensed Consolidated Statement of Comprehensive Income	11
Condensed Consolidated Statement of Financial Position	12
Condensed Consolidated Statement of Changes in Equity	13
Condensed Consolidated Statement of Cash Flows	14
Notes to the Condensed Consolidated Financial Statements	15
Directors' Declaration	20
Independent Auditor's Review Report	21

Interim Financial Report - 31 December 2020 Corporate Information

DirectorsCompany Secretary

Mark Jones (Non-Executive Chairman)

Douglas Rose (Managing Director)

Terence Brown (Non-Executive Director)Henko Vos

ABN

59 151 155 734

Registered and Principal OfficePostal Address

Suite 1/9 Hampden Road

Nedlands WA 6009

Tel: [phone]

Fax: [phone]

Suite 1/9 Hampden Road

Nedlands WA 6009

Website

www.santafeminerals.com.au

AuditorsShare RegisterSecurities Exchange Listing

HLB Mann Judd (WA) Partnership Chartered Accountants

Level 4,130 Stirling Street Perth WA 6000

Advanced Share Registry Services 110 Stirling Highway

Nedlands WA 6009 Tel: [phone]

Australian Securities Exchange (ASX: SFM) Level 40, Central Park

152-158 St George's Terrace Perth WA 6000

Your Directors present their report together with the condensed consolidated financial statements of the Group comprising of Santa Fe Minerals Limited (the "Group") and its subsidiaries for the half-year ended 31 December 2020.

In order to comply with the provisions of the Corporations Act 2001, the Directors report as follows:

Directors

The names of the Directors who held office during or since the end of the interim period and until the date of this report are noted below. Directors were in office for the entire period unless otherwise stated:

Mark Jones (Non-Executive Chairman)

Doug Rose (Managing Director) Terence Brown (Non-Executive Director)

Review of operations

Exploration Operations

During the quarter, Santa Fe Minerals Ltd ("Santa Fe", "SFM" or "the Company") continued the systematic evaluation of the exploration potential of the Challa Projects with respect to gold and vanadium mineralisation.

Brian's Patch Gold target

Challa North Gold targets

Challa South Watson's Well -

Vanadium

Figure 1 - Challa Project area