March 23, 2016
Vancouver , BC – Timmins Gold Corp. (TSX: TMM, NYSE MKT: TGD) (“Timmins” or the “Company”) is pleased to report the results of the recently completed National Instrument 43-101 Preliminary Economic Assessment (“PEA”) for the Ana Paula Project in Guerrero, Mexico (“Ana Paula”), prepared by JDS Energy & Mining Inc. This PEA, which replaces the original October 2014 version, was prepared to incorporate Timmins’ recent acquisition of the El Sauzal process plant and infrastructure (“facilities”) into the capital estimates. Additional updates were made to the operating costs to reflect changes in gold price, MXP/USD foreign exchange, and update major consumables prices.
The PEA is based on a mineral resource estimate prepared by Independent Mining Consultants, Inc., Tucson Arizona, USA. This mineral resource estimate has been developed under the direction of Mr. H. E. Welhener. The resource is based on 223 diamond core drill holes aggregating 108,832 metres and containing 77,183 assay intervals, of which effectively all are assayed for gold and silver. The mineral resource estimate has an effective date of August 8th, 2014.