Timmins Gold Reports Positive Results From Bulk Sample Leach Testing Program at San Francisco Mine

Wed Nov 21, 2012 6:00am EST

* Reuters is not responsible for the content in this press release.

  VANCOUVER, BRITISH COLUMBIA, Nov 21 (MARKET WIRE) --
Timmins Gold Corp. ("Timmins Gold" or the "Company") (TSX:TMM)(NYSE
MKT:TGD)(NYSE Amex:TGD) announces a summary of the results from a recent
bulk sample locked column leach testing program on material from the
Company's San Francisco Mine (San Francisco deposit and La Chicharra
deposit) and tested at METCON Research metallurgical laboratory in
Tucson, Arizona in 2012.

    The column testing results indicate an average gold extraction of 71.0%
based on a crush size of 80% of the particles passing 3/8 inch (P80 3/8
inch) and 77.1% based on a crush size of 80% of the particles passing 1/4
inch (P80 1/4 inch) on ore samples from the San Francisco deposit. For La
Chicharra ore samples, the column testing results indicate an average
gold extraction of 78.3% and 80.9% based on a crush size of P80 3/8 inch
and a crush size of P80 1/4 inch, respectively. No percolation issues
were observed in the locked cycle tests.

    Bruce Bragagnolo, CEO of Timmins Gold, stated, "We are encouraged by the
metallurgical results from this recent metallurgical testing program. We
will continue to use a Life of Mine (LOM) recovery of 68.6% gold recovery
in our planning and analyses, based on our most recent mine plan and
block model. We believe however that the results of this testing program
indicate there is potential to further improve our recoveries through
process optimization."

    Discussion of Test Results

    Six composite samples were tested in the current metallurgical study;
five from the San Francisco (SF) deposit and one from La Chicharra. The
samples from the San Francisco deposit varied by rock type.


--  La Chicharra 
--  SF - Granite 
--  SF - Basic Gneiss 
--  SF - Gabbro 
--  SF - Pegmatite & Schist 
--  SF - Acid Gneiss 


    Tables 1 and 2 outline the gold extractions for each sample based on
crush sizes of P80 3/8 inch (9.5mm) and P80 1/4 inch (6.3mm),
respectively. Two averages are shown: (1) a simple average and (2) a
weighted average based on the estimated LOM relative abundance of each
rock type within the deposit.


  Table 1 - Summary of column leach tests, P80 -3/8" crush size, 127 days.  
----------------------------------------------------------------------------
                                                                            
                                    LOM Abundance          Au Extraction (%)
                                                                            
SF - Granite                                13.0%                      76.58
SF - Basic Gneiss                           26.4%                      71.08
SF - Gabbro                                 18.9%                      63.78
SF - Pegmatite & Schist                     12.7%                      74.38
SF - Acid Gneiss                            29.1%                      71.40
                                                                            
SF - Simple Avg.                             100%                      71.44
SF - Weighted Avg.                                                          
(based on LOM abundance)                     100%                      71.00
                                                                            
La Chicharra                                 100%                      78.34
----------------------------------------------------------------------------
                                                                            
                                                                            
  Table 2 - Summary of column leach tests, P80 -1/4" crush size, 127 days.  
----------------------------------------------------------------------------
                                                                            
                                    LOM Abundance          Au Extraction (%)
                                                                            
SF - Granite                                13.0%                      87.89
SF - Basic Gneiss                           26.4%                      74.37
SF - Gabbro                                 18.9%                      71.22
SF - Pegmatite & Schist                     12.7%                      79.69
SF - Acid Gneiss                            29.1%                      77.03
                                                                            
SF - Simple Avg.                             100%                      78.04
SF - Weighted Avg.                                                          
(based on LOM abundance)                     100%                      77.06
                                                                            
La Chicharra                                 100%                      80.89
----------------------------------------------------------------------------


    The common leaching parameters to all column leach tests are summarized
below:


--  Sample sizes were approx. 178kg for each column test. 
--  Calcium oxide was blended into the test charge. Calcium oxide
    consumption was determined in a 72 hr agitated cyanidation bottle roll
    test. 
--  The initial feed solution was prepared by adding reagent grade calcium
    oxide to Tucson tap water to obtain a solution pH of 11.00, followed by
    the addition of 1.0 gram of sodium cyanide per liter of solution. The
    columns were irrigated at a flow rate of 10 liters per hour per square
    meter. 
--  Column tests were conducted under locked cycle type of leaching regime
    by contacting the pregnant solution with activated carbon to remove gold
    and silver in solution. The loaded activated carbon in each column test
    was dried, weighed and saved in sealed and labeled plastic bags. 
--  The resulting barren solution was used as feed solution after the
    addition of sodium cyanide and calcium oxide to maintain 1.0 gram of
    cyanide per liter of solution and a pH of 10.50 to 11.00. 


    Quality Control

    As part of the METCON QA/QC program, approximately 10 percent of the
daily pregnant solution samples from each column test were re-assayed to
verify accuracy of the original gold and silver assay conducted on the
daily pregnant solution samples. Linear regression analysis was conducted
to quantify the difference between both assays. The following table
summarizes the QA/QC analysis conducted on the pregnant solution samples.


   Table 3 - Correlation coefficient, Daily pregnant  
                solution vs. Duplicates               
------------------------------------------------------
                          R2 Correlation Coefficient  
                                     Au             Ag
                                                      
SF - Granite                     0.9596         0.9539
SF - Basic Gneiss                0.9563         0.9445
SF - Gabbro                      0.9842         0.9729
SF - Pegmatite & Schist          0.9808         0.9738
SF - Acid Gneiss                 0.9277         0.9086
La Chicharra                     0.9696         0.9970
------------------------------------------------------


    The linear regression analysis conducted on the pregnant solution assays
showed that there is a good correlation between the original gold and
silver assays and the duplicate assays conducted as part of the METCON
QA/QC program.

    About Timmins Gold

    Focused solely in Mexico, Timmins Gold Corp. is in commercial gold
production at its wholly owned San Francisco gold mine in Sonora, Mexico.
The mine is a past-producing open pit heap leach operation. Timmins Gold
has forecast production at a rate of approximately 130,000 ounces of gold
per year (Micon International NI 43-101F1 Technical Report dated
November, 2011).

    This press release was reviewed and prepared by Lawrence A. Dick, Ph.D.,
P.Geo, who is a consultant to the Company and is recognized as a
Qualified Person under the guidelines of National Instrument 43-101
("QP") and by Miguel Soto, P. Geo., a director and the Vice President of
Operations of the Company and by Rodrigo R. Carneiro, MS., QP in
Metallurgy and Processing, Director of Metcon Research and Process
Engineering of Tucson Arizona. For further information contact Timmins
Gold Corp. at 604-682-4002 or go to the website at www.timminsgold.com.

    Cautionary Note Regarding Forward-Looking Statements

    Certain statements contained herein may constitute forward-looking
statements and are made pursuant to the "safe harbor" provisions of the
United States Private Securities Litigation Reform Act of 1995 and
Canadian securities laws. Forward-looking statements are statements which
relate to future events. Such statements include estimates, forecasts and
statements as to management's expectations with respect to, among other
things, business and financial prospects, financial multiples and
accretion estimates, future trends, plans, strategies, objectives and
expectations, including with respect to production, exploration drilling,
reserves and resources, exploitation activities and events or future
operations. Information inferred from the interpretation of drilling
results and information concerning mineral resource estimates may also be
deemed to be forward-looking statements, as it constitutes a prediction
of what might be found to be present when, and if, a project is actually
developed.

    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 the TSX nor its Regulation Services Provider (as that term is
defined in the policies of the TSX) nor the NYSE MKT accepts
responsibility for the adequacy or accuracy of this news release.

Contacts:
Timmins Gold Corp.
Bruce Bragagnolo
CEO and Director
604-638-8980
bruce@timminsgold.com
www.timminsgold.com

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