Timmins Gold Corp.: 40,000 Hectares Acquired Contiguous to Goldcorp's World Class Penasquito Gold Deposit

VANCOUVER, BRITISH COLUMBIA, Oct 23 (MARKET WIRE) --
Timmins Gold Corp. ("Timmins Gold") (TSX VENTURE: TMM) is pleased to
announce that it has acquired, by staking, a 40,000 hectare land package
in the Penasquito area of Mexico. The claims are contiguous to Goldcorp's
Penasquito Gold Deposit and are approximately 20 km to the northwest of
the Camino Rojo project of Canplats Resources. As of June 2007, Goldcorp
reported proven and probable gold reserves at Penasquito of 13.0 million
ounces. More recently Canplats Resources has reported drill intercepts of
up to 224 metres averaging 1.50 grams of gold and 24.45 grams of silver
per tonne from its Camino Rojo project.

The claims are located in the northern part of the state of Zacatecas,
Mexico, and are located approximately 42 kilometres west of the town of
Concepcion del Oro. The northern Zacatecas area is an important mining
district in Mexico. The area possesses flat topography and excellent
proximity to roads, power, rail, skilled labor and smelters.

Timmins Gold acquired the claims due to their proximity and geological
similarity to the Penasquito Gold Deposit. Concepcion del Oro lies within
the Mexico Geosyncline, a 2.5 km thick series of marine sediments.
Mineralization in the region is characterized by carbonate replacement
bodies along the contact between intrusive and limestone packages. Ore
deposits are formed in skarns and chimneys, and mineralized breccias
developed in clastic and permeable rocks of the Caracol formation
affected by intermediate intrusions. The Timmins Gold claims show
evidence of such intrusive and limestone packages and Timmins Gold
geologists have identified a sandstone unit within a synclinal structure
in the eastern portion of the property believed to be a unit within the
Caracol formation, the host of the Penasquito mineralization. Assays from
selected grab samples taken by Timmins Gold geologists have returned
anomalous gold values in excess of 1 gram of gold per tonne.

Qualified Person

Pursuant to National Instrument 43-101, Darcy Krohman, P.Geo., C.A.,
Executive Vice-President and CFO of Timmins Gold Corp., is the Qualified
Person (QP) responsible for the disclosure in this news release. Field
work has been conducted by Timmins Gold Corp. employees and contractors.

This News Release contains forward-looking statements. Forward-looking
statements are statements which relate to future events. In some cases,
you can identify forward-looking statements by terminology such as "may",
"should", "expects", "plans", "anticipates", "believes", "estimates",
"predicts", "potential", or "continue" or the negative of these terms or
other comparable terminology. These statements are only predictions and
involve known and unknown risks, uncertainties and other factors that may
cause our or our industry's actual results, level of activity,
performance or achievements to be materially different from any future
results, levels of activity, performance, or achievements expressed or
implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which
they are based, are made in good faith and reflect our current judgment
regarding the direction of our business, actual results will almost
always vary, sometimes materially, from any estimates, predictions,
projections, assumptions or other future performance suggestions herein.
Except as required by applicable law, Timmins Gold does not intend to
update any forward-looking statements to conform these statements to
actual results.

The TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy of this release.

Contacts:
Timmins Gold Corp.
Bruce Bragagnolo, LLB.
Chief Executive Officer
(604) 638-8980
Email: bruce@timminsgold.com

Timmins Gold Corp. - Investor Relations
Alex Tsakumis
Corporate Development
(604) 638-8976
Email: alex@timminsgold.com
Website: www.timminsgold.com

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