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

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov 21, 2012) - Timmins Gold Corp. ("Timmins Gold" or the "Company") (TMM.TO)(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: