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

Marketwired

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov 23, 2012) - Timmins Gold Corp. (TMM.TO)(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
Hole
Number
  Depth
(m)
  Section
 Line
  From
 (m)
  To
(m)
  True
 Width
 (m)
  Au
 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
Hole
Number
 
   Depth
(m)
   Section
 Line
  From
(m)
   To
(m)
   True
Width
(m)
   Au
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.

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

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