Timmins Gold Corp.: Private Placement Oversubscribed

VANCOUVER, BRITISH COLUMBIA, Jun 01 (MARKET WIRE) --
Timmins Gold Corp. ("Timmins Gold") (TSX VENTURE: TMM) announces that its
private placement initiated in March 2009 has been oversubscribed. The
private placement was announced at $10 million at a price of $0.40 per
unit. Timmins Gold has closed subscriptions and the private placement has
been oversubscribed at a total of $15.18 million. Pacific Road Capital
Management ("Pacific Road") has agreed to subscribe for $2.98 million to
maintain its proportional ownership interest of 19.7%.

Pacific Road Chairman Paul Espie stated "Pacific Road and Timmins Gold
have resolved their differences and we show our support to Timmins Gold
by making our subscription in the financing. This financing allows
Timmins Gold to go forward on a solid financial footing."

The proceeds from the private placement will be used to complete
construction of the new crushing system and heap leach pads at Timmins
Gold's wholly owned San Francisco gold mine in Mexico and for corporate
working capital. The San Francisco gold mine is located along the main
Pan American Highway approximately 150 km north of Hermosillo, in the
State of Sonora, Mexico. The San Francisco gold mine successfully
produced gold from an open pit, heap leach operation in the late 1990's.
The 80,000 ounce per year project is described in a preliminary
feasibility study prepared by Micon International Limited dated March 31,
2008 and revised on January 13, 2009. Please refer to the Company's
website at www.timminsgold.com to view recent pictures of the progress of
construction at the mine.

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.

Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.

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

Copyright 2009, Market Wire, All rights reserved.

-0-