Mr. Bruce Bragagnolo reports

TIMMINS GOLD REPORTS RECORD PROFIT FROM OPERATIONS OF $19.3 MILLION AND RECORD EARNINGS PER SHARE OF $0.10 FOR Q1 2013

Timmins Gold Corp. has released its financial results for the first quarter ended March 31, 2013. The comparative period is the three months ended March 31, 2012. All results are presented in U.S. dollars unless otherwise stated. Readers should refer to the 2013 management discussion and analysis and consolidated financial statements for complete information.

First-quarter highlights:

• Metal revenues were a record $45.9-million, compared with $35.7-million during the same prior-year period. This represents a 29-per-cent increase over the prior year.
• Profit from operations was a record $19.3-million, compared with $13.0-million during the same prior-year period. This represents a 48-per-cent increase over the prior year.
• Earnings were a record $14.3-million or 10 cents per share, compared with $5.6-million or four cents per share during the same prior-year period. This represents a 155-per-cent and 150-per-cent increase, respectively, over the prior year.
• Cash flows from operations were $21.8-million or 15 cents per share, compared with $13.1-million or nine cents per share during the same prior-year period. This represents a 51-per-cent and 67-per-cent increase, respectively, over the prior year.
• Cash at March 31, 2013, was $26.9-million after investing $15.0-million in exploration and plant expansion during the quarter. Cash at March 31, 2012, was $18.4-million after investing $5.8-million in exploration and plant expansion.
• The company produced a record 28,328 ounces of gold and sold a record 28,642 ounces of gold, compared with 21,532 and 21,235, respectively, during the same prior-year period. This represents a 32-per-cent and 35-per-cent increase of ounces produced and sold, respectively, over the prior year.
• The company's cash cost per ounce on a byproduct basis was $703, compared with $715 during the same prior-year period. This decrease in cash costs is due to cost reduction initiatives implemented in 2012 including a reduction in mining services cost and a reduction in the cost of chemicals, as well as higher grades realized in the current quarter.
• The drill program for the gold property continued in the first quarter of 2013 with a total of 86,023 metres drilled:
  • A total of 50,803 metres of drilling were completed in and around the San Francisco open-pit gold mine.
  • A total of 21,030 metres were drilled on the La Chicharra open-pit gold mine located two kilometres west of the mine.
  • A total of 11,753 metres were drilled in exploration areas around the San Francisco and La Chicharra pits with an additional 2,437 metres of core drilling.
• Significant milestones:
  • During March, 2013, the company produced and sold a record 12,457 and 15,396 ounces of gold, respectively, and processed a record average of 19,908 tonnes per day.

       SUMMARIZED ANNUAL FINANCIAL STATEMENTS AND OPERATING RESULTS
             (dollar amounts in thousands of U.S. dollars, 
                   except per share and ounce amounts)

                                              First quarter    First quarter
                                                      ended            ended
                                             March 31, 2013   March 31, 2012

Gold sold (oz)                                       28,642           21,235
Silver sold (oz)                                     14,313           11,170
Metal revenues                               $       45,889   $       35,688
                                             ---------------  ---------------
Production costs, excluding depletion and                                   
depreciation                                         20,505           15,585
Profit from operations                               19,253           13,043
                                             ---------------  ---------------
Earnings                                     $       14,291   $        5,623
                                             ===============  ===============
Earnings per share, basic and diluted        $         0.10   $         0.04
Total byproduct cash costs per gold ounce    $          703   $          715
Average realized gold price per gold ounce            1,602            1,681

"Q1 was the company's strongest quarter to date as evidenced by record profit from operations and earnings per share," stated Bruce Bragagnolo, chief executive officer of Timmins Gold. "The cost reduction initiatives the company initiated in 2012 are having a positive impact. We added a significant amount of cash to our balance sheet despite a relatively large capital spend during the quarter, mainly related to the infill drilling program which is almost completed. At current gold prices the company expects to continue to materially add to its cash balance throughout the year."

Reminder of first-quarter 2013 results conference call

The company's senior management will host a conference call to discuss first-quarter 2013 financial results on May 8, 2013, at 11:15 a.m. (ET). Participants may join the call by registering on-line through a link on the Timmins Gold website home page and entering the passcode 452728. After entering your information, you will be given a passcode and PIN that you will need to join the conference call on May 8. Participants may join the call by dialling toll-free 1-888-789-9572 (Canada and the United States) or 1-416-695-7806 (international) and entering their personal passcode and pin. A replay of the call will be available after the call until May 14, 2013, by dialling 1-800-408-3053 (Canada and the United States) or 1-905-694-9451 (international) with the passcode 4258434. A live and archived audio webcast will also be available on the company's website.

We seek Safe Harbor.