Timmins Gold Intersects New Mineralized Zone Approximately 1 km to the East of the San Francisco Pit

Fri Nov 23, 2012 9:17am EST

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

  VANCOUVER, BRITISH COLUMBIA, Nov 23 (MARKET WIRE) --
Timmins Gold Corp. (TSX:TMM)(NYSE MKT:TGD)(NYSE Amex:TGD) is pleased to
announce that its ongoing drill program continues to extend and expand
the mineralization at the San Francisco Gold Mine, located in the State
of Sonora, Mexico. The San Francisco Gold Mine is comprised of two pits,
the larger San Francisco pit (SF Pit) and the La Chicharra Pit located
approximately 1.5 km to the west. A total of 35,455 meters in 148 holes
were drilled from July to the end of September, 2012. Timmins Gold is
continuing with its ongoing drill program and currently has four reverse
circulation rigs and one core drill rig working on site.

    San Francisco East Zone Drill Results 

    Core drilling from July to September has led to the confirmation of a new
mineralized zone extending as far as 1 km to the east of the existing
limits of the SF Pit (East Zone). Highlights of the assays received from
the 4,239 meters drilled in 9 holes at the East Zone include Hole TFD-128
which intersected numerous mineralized zones to a depth of 837 metres.
Hole TFD-128 contained intercepts of 4.5 metres of 4.55 grams per tonne
(gpt or g/t) gold and 7.5 meters of 2.19 gpt gold. Hole TFD-120 drilled
in the same area contained intercepts of 3 metres of 5.86 gpt gold and 6
metres of 2.65 gpt gold. Hole TFD-123 contained intercepts of 3 metres of
3.57 gpt gold and 6 metres of 1.65 gpt gold. Hole TFD-124 contained
intercepts of 3 metres of 2.08 gpt gold and 16.5 metres of 0.87 gpt gold.
Hole TFD-125 contained intercepts of 6 metres of 1.59 gpt gold and 3
metres of 6.12 gpt gold. 

    Drilling in the East Zone was designed to test a magnetic high trend
which passes through the San Francisco Pit. The magnetic high trend
continues for a minimum of two kilometres to the east of Hole TFD-128.
Lithologies intersected by the core holes include a conglomerate/breccia
containing mineral zones at different elevations. Underlying the
conglomerate/breccia is the metamorphic sequence with felsic and mafic
gneisses, gabbro, granite and pegmatite. These are essentially the same
lithologies found within the SF Pit.

    San Francisco South 

    Limited drilling was performed south of the SF Pit. The drill was moved
in September to La Chicharra to follow up on new mineralized zones
discovered to the north of the La Chicharra Pit. Highlights of the assays
received from the 5,522 meters drilled in 33 holes of reverse circulation
drilling to the south of the SF Pit include 6.1 meters of 3 gpt gold in
Hole TF-2042, 6.1 meters of 1.979 gpt gold in Hole TF-2043, and 12.19
meters of 1.93 gpt gold in Hole TF-2052. 

    La Chicharra Drill Results 

    Highlights of the assays received from the 25,585 meters drilled in 106
holes of reverse circulation drilling at the La Chicharra Pit include
4.57 meters of 15.53 gpt gold in Hole TF-1929, 7.62 meters of 1.19 gpt
gold in Hole TF-1967, and 13.71 meters of 1.88 gpt gold in Hole TF-1970. 

    Results from the recent round of drilling at La Chicharra indicate that
the mineralization extends both along strike of the current pit and also
that there are at least two parallel mineralized structures immediately
to the north of the current pit. The multiple shear zones encountered in
and around the La Chicharra Pit give no indication that the limits of the
mineralization have been reached. 

    The tables below highlight the better intercepts from the drilling from
July to the end of September: 


                           San Francisco East Zone                          
                                                                            
----------------------------------------------------------------------------
                                                Drill Intersections         
----------------------------------------------------------------------------
Drill                                                         True          
Hole                  Depth    Section     From       To     Width        Au
Number                  (m)       Line      (m)      (m)       (m)       g/t
----------------------------------------------------------------------------
TFD-120               326.2      480 E   115.50   121.50      6.00     2.648
----------------------------------------------------------------------------
                              includes   117.00   120.00      3.00     4.360
----------------------------------------------------------------------------
                                   and   132.00   135.00      3.00     1.017
----------------------------------------------------------------------------
                                   and   142.50   145.50      3.00     5.860
----------------------------------------------------------------------------
                              includes   144.00   145.50      1.50    10.910
----------------------------------------------------------------------------
                                   and   151.50   154.50      3.00     0.209
----------------------------------------------------------------------------
                                   and   157.50   160.50      3.00     0.385
----------------------------------------------------------------------------
                                   and   169.50   180.00     10.50     0.325
----------------------------------------------------------------------------
                                   and   201.00   207.00      6.00     0.182
----------------------------------------------------------------------------
                                   and   256.50   258.00      1.50     0.399
----------------------------------------------------------------------------
                                   and   262.50   276.00     13.50     0.877
----------------------------------------------------------------------------
                              includes   264.00   265.50      1.50     4.018
----------------------------------------------------------------------------
                                   and   295.50   298.50      3.00     0.212
----------------------------------------------------------------------------
                                   and   300.00   301.50      1.50     0.195
----------------------------------------------------------------------------
                                   and   315.00   316.50      1.50     0.683
----------------------------------------------------------------------------
                                   and   325.50   326.20      0.70     0.176
----------------------------------------------------------------------------
TFD-123               473.2      400 E    15.00    16.50      1.50     0.127
----------------------------------------------------------------------------
                                   and    42.00    46.50      4.50     0.213
----------------------------------------------------------------------------
                                   and    54.00    55.50      1.50     0.179
----------------------------------------------------------------------------
                                   and    93.00    94.50      1.50     0.297
----------------------------------------------------------------------------
                                   and   109.50   112.50      3.00     3.570
----------------------------------------------------------------------------
                              includes   109.50   111.00      1.50     6.985
----------------------------------------------------------------------------
                                   and   136.50   138.00      1.50     0.200
----------------------------------------------------------------------------
                                   and   153.00   163.50     10.50     0.390
----------------------------------------------------------------------------
                                   and   172.50   178.50      6.00     1.647
----------------------------------------------------------------------------
                              includes   175.50   177.00      1.50     5.416
----------------------------------------------------------------------------
                                   and   192.00   195.00      3.00     0.603
----------------------------------------------------------------------------
                                   and   210.00   211.50      1.50     0.343
----------------------------------------------------------------------------
                                   and   216.00   219.00      3.00     0.407
----------------------------------------------------------------------------
                                   and   222.00   223.50      1.50     0.199
----------------------------------------------------------------------------
                                   and   226.50   228.00      1.50     0.206
----------------------------------------------------------------------------
                                   and   231.00   237.00      6.00     0.262
----------------------------------------------------------------------------
                                   and   313.50   316.50      3.00     0.717
----------------------------------------------------------------------------
                                   and   337.50   339.00      1.50     0.319
----------------------------------------------------------------------------
TFD-124               467.2      300 E    54.00    60.00      6.00     0.670
----------------------------------------------------------------------------
                                   and    72.00    79.50      7.50     0.773
----------------------------------------------------------------------------
                                   and   114.00   115.50      1.50     0.206
----------------------------------------------------------------------------
                                   and   132.00   135.00      3.00     0.189
----------------------------------------------------------------------------
                                   and   144.00   145.50      1.50     0.364
----------------------------------------------------------------------------
                                   and   160.50   166.50      6.00     0.265
----------------------------------------------------------------------------
                                   and   168.00   172.50      4.50     0.629
----------------------------------------------------------------------------
                                   and   180.00   183.00      3.00     0.591
----------------------------------------------------------------------------
                                   and   201.00   202.50      1.50     0.375
----------------------------------------------------------------------------
                                   and   211.50   213.00      1.50     0.391
----------------------------------------------------------------------------
                                   and   228.00   238.50     10.50     0.451
----------------------------------------------------------------------------
                                   and   258.00   261.00      3.00     2.081
----------------------------------------------------------------------------
                              includes   258.00   259.50      1.50     3.892
----------------------------------------------------------------------------
                                   and   298.50   301.50      3.00     1.057
----------------------------------------------------------------------------
                                   and   316.50   318.00      1.50     0.519
----------------------------------------------------------------------------
                                   and   321.00   324.00      3.00     0.397
----------------------------------------------------------------------------
                                   and   342.00   343.50      1.50     1.073
----------------------------------------------------------------------------
                                   and   349.50   366.00     16.50     0.873
----------------------------------------------------------------------------
                              includes   354.00   355.50      1.50     2.890
----------------------------------------------------------------------------
                              includes   358.50   360.00      1.50     2.033
----------------------------------------------------------------------------
                                   and   369.00   370.50      1.50     0.268
----------------------------------------------------------------------------
                                   and   448.50   451.50      3.00     0.197
----------------------------------------------------------------------------
TFD-125               465.7      300 E    24.00    36.00     12.00     0.327
----------------------------------------------------------------------------
                                   and    48.00    54.00      6.00     1.594
----------------------------------------------------------------------------
                              includes    49.50    51.00      1.50     3.364
----------------------------------------------------------------------------
                                   and    58.50    63.00      4.50     0.216
----------------------------------------------------------------------------
                                   and    66.00    72.00      6.00     0.300
----------------------------------------------------------------------------
                                   and    79.50    81.00      1.50     0.193
----------------------------------------------------------------------------
                                   and   178.50   180.00      1.50     0.369
----------------------------------------------------------------------------
                                   and   183.00   189.00      6.00     0.320
----------------------------------------------------------------------------
                                   and   196.50   198.00      1.50     0.533
----------------------------------------------------------------------------
                                   and   207.00   208.50      1.50     0.536
----------------------------------------------------------------------------
                                   and   222.00   225.00      3.00     0.816
----------------------------------------------------------------------------
                                   and   229.50   231.00      1.50     0.240
----------------------------------------------------------------------------
                                   and   246.00   258.00     12.00     0.389
----------------------------------------------------------------------------
                              includes   256.50   258.00      1.50     2.232
----------------------------------------------------------------------------
                                   and   261.00   262.50      1.50     0.292
----------------------------------------------------------------------------
                                   and   331.50   334.50      3.00     0.438
----------------------------------------------------------------------------
                                   and   352.50   354.00      1.50     0.162
----------------------------------------------------------------------------
                                   and   364.50   367.50      3.00     0.216
----------------------------------------------------------------------------
                                   and   376.50   378.00      1.50     0.670
----------------------------------------------------------------------------
                                   and   387.00   388.50      1.50     2.522
----------------------------------------------------------------------------
                                   and   391.50   399.00      7.50     0.248
----------------------------------------------------------------------------
                                   and   408.00   411.00      3.00     0.195
----------------------------------------------------------------------------
                                   and   415.50   417.00      1.50     0.216
----------------------------------------------------------------------------
                                   and   424.50   426.00      1.50     0.372
----------------------------------------------------------------------------
                                   and   451.50   454.50      3.00     6.120
----------------------------------------------------------------------------
                              includes   451.50   453.00      1.50    11.882
----------------------------------------------------------------------------
TFD-126              491.20      500 E    90.00   102.00     12.00     0.575
----------------------------------------------------------------------------
                                   and   109.50   117.00      7.50     0.297
----------------------------------------------------------------------------
                                   and   268.50   273.00      4.50     1.768
----------------------------------------------------------------------------
                              includes   270.00   271.50      1.50     2.284
----------------------------------------------------------------------------
                                   and   310.50   312.00      1.50     1.925
----------------------------------------------------------------------------
                                   and   360.00   361.50      1.50     0.678
----------------------------------------------------------------------------
                                   and   367.50   372.00      4.50     0.281
----------------------------------------------------------------------------
                                   and   466.50   471.00      4.50     0.404
----------------------------------------------------------------------------
                                   and   478.50   484.50      6.00     0.838
----------------------------------------------------------------------------
                              includes   483.00   484.50      1.50     2.300
----------------------------------------------------------------------------
TFD-128              980.35      300 E    24.00    48.00     24.00     1.102
----------------------------------------------------------------------------
                                   and    55.50    60.00      4.50     1.219
----------------------------------------------------------------------------
                              includes    55.50    57.00      1.50     2.279
----------------------------------------------------------------------------
                                   and    66.00    72.00      6.00     0.202
----------------------------------------------------------------------------
                                   and    84.00    93.00      9.00     0.205
----------------------------------------------------------------------------
                                   and   145.50   150.00      4.50     4.549
----------------------------------------------------------------------------
                              includes   145.50   147.00      1.50     2.311
----------------------------------------------------------------------------
                              includes   148.50   150.00      1.50    11.167
----------------------------------------------------------------------------
                                   and   201.00   207.00      6.00     0.162
----------------------------------------------------------------------------
                                   and   235.50   256.50     21.00     0.289
----------------------------------------------------------------------------
                                   and   276.00   279.00      3.00     0.209
----------------------------------------------------------------------------
                                   and   348.00   355.50      7.50     2.129
----------------------------------------------------------------------------
                              includes   348.00   349.50      1.50     8.350
----------------------------------------------------------------------------
                                   and   360.00   364.50      4.50     0.599
----------------------------------------------------------------------------
                                   and   367.50   369.00      1.50     0.319
----------------------------------------------------------------------------
                                   and   376.50   378.00      1.50     0.466
----------------------------------------------------------------------------
                                   and   381.00   382.50      1.50     2.023
----------------------------------------------------------------------------
                                   and   405.00   406.50      1.50     1.605
----------------------------------------------------------------------------
                                   and   433.50   436.50      3.00     0.389
----------------------------------------------------------------------------
                                   and   448.50   454.50      6.00     0.269
----------------------------------------------------------------------------
                                   and   459.00   463.50      4.50     1.300
----------------------------------------------------------------------------
                              includes   462.00   463.50      1.50     2.112
----------------------------------------------------------------------------
                                   and   475.50   483.00      7.50     0.235
----------------------------------------------------------------------------
                                   and   519.00   523.50      4.50     0.218
----------------------------------------------------------------------------
                                   and   537.00   564.00     27.00     0.437
----------------------------------------------------------------------------
                                   and   567.00   571.50      4.50     0.405
----------------------------------------------------------------------------
                                   and   729.00   742.50     13.50     0.465
----------------------------------------------------------------------------
                                   and   769.50   784.50     15.00     0.631
----------------------------------------------------------------------------
                                   and   819.00   820.50      1.50     0.750
----------------------------------------------------------------------------
                                   and   850.50   853.50      3.00     0.987
----------------------------------------------------------------------------
                                   and   856.50   861.00      4.50     0.391
----------------------------------------------------------------------------
                                   and   865.50   873.00      7.50     0.374
----------------------------------------------------------------------------
                                                                            
                                   San Francisco South                      
                                                                            
                                                                            
----------------------------------------------------------------------------
TF-2042               152.4      480 W    13.72    19.81      6.10     3.010
----------------------------------------------------------------------------
                              includes    18.29    19.81      1.52     9.826
----------------------------------------------------------------------------
                                   and    24.38    25.91      1.52     0.317
----------------------------------------------------------------------------
TF-2043               152.4      520 W    15.24    21.34      6.10     1.979
----------------------------------------------------------------------------
                              includes    18.28    21.34      3.06      3.69
----------------------------------------------------------------------------
                                   and    33.53    42.67      9.14      0.22
----------------------------------------------------------------------------
                                   and    47.24    48.77      1.52      0.38
----------------------------------------------------------------------------
                                   and   114.30   115.82      1.52      0.23
----------------------------------------------------------------------------
                                   and   121.92   126.49      4.57      0.40
----------------------------------------------------------------------------
                                   and   143.26   144.78      1.52     0.174
----------------------------------------------------------------------------
TF-2052              170.68     1360 W    65.53    67.06      1.52      0.16
----------------------------------------------------------------------------
                                   and    73.15    85.34     12.19      1.93
----------------------------------------------------------------------------
                              includes    79.25    82.30      3.05      6.32
----------------------------------------------------------------------------
                                   and   121.92   123.44      1.52      1.44
----------------------------------------------------------------------------
                                   and   132.59   135.64      3.05      1.66
----------------------------------------------------------------------------
                              includes   132.59   134.11      1.52      3.19
----------------------------------------------------------------------------
                                   and   149.35   156.97      7.62      1.04
----------------------------------------------------------------------------
                              includes   149.35   150.88      1.52      3.57
----------------------------------------------------------------------------
                                                                            
                                       La Chicharra                         
                                                                            
----------------------------------------------------------------------------
                                                    Drill Intersections     
                                      --------------------------------------
Drill                                                         True          
Hole                  Depth    Section     From       To     Width        Au
Number                  (m)       Line      (m)      (m)       (m)       g/t
----------------------------------------------------------------------------
TF-1929                 250      2420W    36.58    41.15      4.57    15.531
----------------------------------------------------------------------------
                              includes    36.58    39.62      3.05    24.742
----------------------------------------------------------------------------
                              includes    36.58    38.10      1.52    43.954
----------------------------------------------------------------------------
                                   and    57.91    60.96      3.05     0.294
----------------------------------------------------------------------------
                                   and    96.01    99.06      3.05     0.201
----------------------------------------------------------------------------
                                   and   166.12   167.64      1.52     0.436
----------------------------------------------------------------------------
                                   and   236.22   240.79      4.57     0.425
----------------------------------------------------------------------------
TF-1954                 250      2540W     6.10     7.62      1.52     0.995
----------------------------------------------------------------------------
                                   and    19.81    22.86      3.05     0.599
----------------------------------------------------------------------------
                                   and    70.10    73.15      3.05     1.878
----------------------------------------------------------------------------
                                   and    86.87   102.11     15.24     0.764
----------------------------------------------------------------------------
                              includes    88.39    89.92      1.52     1.264
----------------------------------------------------------------------------
                              includes    96.01    97.54      1.52     2.258
----------------------------------------------------------------------------
                                   and   167.64   170.69      3.05     0.338
----------------------------------------------------------------------------
                                   and   188.98   195.07      6.09     0.386
----------------------------------------------------------------------------
TF-1959                 250      2400W    13.72    18.29      4.57     0.516
----------------------------------------------------------------------------
                              includes    15.24    16.76      1.52     1.056
----------------------------------------------------------------------------
                                   and    35.05    36.58      1.52     0.627
----------------------------------------------------------------------------
                                   and    42.67    45.72      3.05     1.015
----------------------------------------------------------------------------
                              includes    42.67    44.20      1.52     1.869
----------------------------------------------------------------------------
                                   and   105.16   106.68      1.52     0.565
----------------------------------------------------------------------------
                                   and   117.35   120.40      3.05     0.256
----------------------------------------------------------------------------
                                   and   156.97   160.02      3.05     1.081
----------------------------------------------------------------------------
                              includes   156.97   158.50      1.52     1.732
----------------------------------------------------------------------------
                                   and   230.12   231.65      1.52     0.168
----------------------------------------------------------------------------
TF-1967                 250      3260W    13.72    18.29      4.57     0.200
----------------------------------------------------------------------------
                                   and    50.29    54.86      4.57     1.025
----------------------------------------------------------------------------
                              includes    51.82    53.34      1.52     2.400
----------------------------------------------------------------------------
                                   and    79.25   128.02     48.77     0.564
----------------------------------------------------------------------------
                              includes    79.25    83.82      4.57     1.377
----------------------------------------------------------------------------
                              includes    92.96   100.58      7.62     1.198
----------------------------------------------------------------------------
                              includes   117.35   118.87      1.52     1.058
----------------------------------------------------------------------------
                                   and   172.21   173.74      3.05     0.330
----------------------------------------------------------------------------
TF-1970                 250      2580W   179.83   181.36      1.52     0.401
----------------------------------------------------------------------------
                                   and   188.98   202.69     13.71     1.887
----------------------------------------------------------------------------
                              includes   190.50   192.02      1.52     3.309
----------------------------------------------------------------------------
                              includes   198.12   202.69      4.57     3.331
----------------------------------------------------------------------------
                                   and   219.46   228.60      9.14     0.189
----------------------------------------------------------------------------
TF-1990                 250      2700W    32.00    33.53      1.52     0.429
----------------------------------------------------------------------------
                                   and    48.77    60.96     12.19     0.182
----------------------------------------------------------------------------
                                   and   164.59   170.69      6.10     0.841
----------------------------------------------------------------------------
                              includes   166.12   167.64      1.52     2.041
----------------------------------------------------------------------------
                                   and   178.31   182.88      4.57     0.267
----------------------------------------------------------------------------
                                   and   216.41   220.50      4.57     2.456
----------------------------------------------------------------------------
                              includes   216.41   217.93      1.52     7.146
----------------------------------------------------------------------------


    Given the mesothermal (deep-seated) conditions of formation of the San
Francisco mineralized system, management considers it not unreasonable
that the system could reach very significant proportions, in addition to
the open ended limits indicated by the present drilling, in terms of
ultimate strike length and depth. The size of the gold mineralization
zone, its presence within large shear zones and the continuous nature of
the gold within these zones form the basis of management's belief that
the ongoing drill program could also lead to a significant increase in
the mineral resources at the San Francisco mine and could potentially
also lead to the discovery of additional satellite deposits within
Timmins Gold's existing land package. The orogenic nature of the deposit
may provide the potential for the discovery of high grade feeders at
depth. 

    Strict sampling and QA-QC protocol were followed to ensure the best
practices in sampling and analysis of the drill samples. Duplicates,
standards and blanks were inserted into the sampling stream at intervals
of 25 samples. All assays were performed by Inspectorate Lab and a
minimum of ten per cent of the original samples assayed by Inspectorate
were sent to other independent labs for check assays. The check assays
were cross-referenced and the results verified. 

    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 and
by Miguel Soto, P. Geo., a director and the Vice-President of Exploration
of the Company. For further information contact Timmins Gold Corp. at
604-682-4002 or go to the website at www.timminsgold.com. 

    On behalf of the Board: 

    Bruce Bragagnolo, LLB, Chief Executive Officer

    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, LLB
Chief Executive Officer
604-638-8980
bruce@timminsgold.com
www.timminsgold.com

Copyright 2012, Market Wire, All rights reserved.

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