Mr. Bruce Bragagnolo reports

TIMMINS GOLD REPORTS 2015 FIRST QUARTER FINANCIAL RESULTS

Timmins Gold Corp. has released its financial results for the first quarter ended March 31, 2015. The comparative period is the first quarter ended March 31, 2014. (All results are presented in U.S. dollars unless otherwise stated.) Readers should refer to the 2015 management's discussion and analysis and condensed interim consolidated financial statements for complete information.

"Q1 production of 24,155 gold ounces was slightly lower than planned. We still maintained a strong quarter-end cash balance of approximately $25-million and intend to fund our activities, including the planned advancement of our new projects, using cash flow from operations at current gold prices," said Bruce Bragagnolo, chief executive officer of Timmins Gold. "We are still targeting to reach the lower end of our originally stated production guidance. As part of our mine schedule, production is expected to be back half-loaded, with approximately 55 per cent of the production slated for the second half of the year. We are still in the process of finalizing our plans regarding the new high-grade south-wall discovery."

"We are extremely excited about the opportunity to develop the Ana Paula project now that the shareholders of both Timmins Gold and Newstrike Capital Inc. have overwhelmingly voted in favour of the plan of arrangement. The asset is a high-grade, high-margin project with relatively low capital intensity that would significantly increase our production level and dramatically lower our consolidated cost profile. Additionally, it is located in Mexico, enabling us to leverage our in-country development and operating expertise to deliver additional value to shareholders. We are ready, upon closing of the transaction, to advance the project both from a permitting and technical optimization standpoint, and will provide more detailed information in the near future.

"At Caballo Blanco, we have initiated discussions with various stakeholders as part of a new environmental impact assessment submission. Additionally, we have begun planning internal and external studies to optimize the key technical aspects of the project, namely crushing and leaching."

First quarter 2015 highlights:

• Metal revenues were $29.5-million, compared with $47.1-million during first quarter 2014. This represents a 37.3-per-cent decrease over the prior year, primarily due to a decrease in the total ounces of gold sold of 24,155 ounces during first quarter 2015 versus 36,763 ounces during first quarter 2014 and a lower average realized gold price. The average London PM fix price was $1,218 per gold ounce, compared with $1,294 per gold ounce during first quarter 2014.
• Loss from operations was $200,000, compared with earnings from operations of $12.9-million during first quarter 2014. This difference was mainly due to the decreased metal revenues. Also contributing to this variance was a decrease in processing grade, an increase in explosive costs and an increase in diesel costs due to increased hauling distances.
• Loss and total comprehensive loss were $700,000 or nil per share, compared with earnings and total comprehensive income of $8.1-million or five cents per share during first quarter 2014.
• Cash flows provided by operating activities were $7.5-million, compared with $12.3-million during first quarter 2014.
• Cash and cash equivalents at March 31, 2015, were $25.0-million after investing $1.3-million on exploration, $200,000 on sustaining capital, $1.9-million on expansion programs and $5.4-million on deferred stripping. Also, the company received $4.8-million of its value-added-tax receivable in cash and paid $700,000 in transaction fees related to the acquisition of Caballo Blanco during first quarter 2015. Cash and cash equivalents at March 31, 2014, were $44.4-million after investing $500,000 on exploration, $500,000 on sustaining capital, $1.6-million on expansion programs and $3.0-million on deferred stripping. The company received $3.2-million of its VAT receivable in cash during the first quarter 2014.
• The company produced 24,155 ounces of gold and sold 24,155 ounces of gold, compared with 35,413 and 36,763, respectively, during first quarter 2014. The change from prior year is due to a decrease in overall production due to a decrease in processing grade partially offset by increased daily crushing throughput. The company also presold 2,800 gold ounces for April, 2015, delivery, which generated $3.5-million in cash held at March 31, 2015.
• The company's cash cost per ounce on a byproduct basis was $925 (all-in sustaining cash cost per ounce on a byproduct basis: $1,055), compared with $703 (all-in sustaining cash cost per ounce on a byproduct basis: $790) during first quarter 2014. This increase in cash costs is primarily driven by lower processing grades realized during the quarter of 0.53 gram of gold per tonne in accordance with the company's mine plan, compared with the first quarter 2014 grade of 0.76 gram per tonne gold.
• On Feb. 2, 2015, the company converted its existing $13.0-million (Canadian) loan facility into $10.1-million (U.S.) at a negotiated exchange rate. Interest remains payable at the rate of 9.0 per cent per annum, with payment of the principal amount outstanding to be made on Dec. 31, 2015.
• On Feb. 11, 2015, the company announced the filing of the National Instrument 43-101 technical report titled "Preliminary economic assessment, Caballo Blanco gold heap leach, Veracruz, Mexico," related to the Caballo Blanco gold project. This report has an effective date of May 7, 2012, was originally prepared for the prior owner of the Caballo Blanco gold project and was readdressed to the company on Jan. 28, 2015.
• On Feb. 12, 2015, the company announced the results of its drill program underneath and toward the eastern edge of the San Francisco mine, which confirmed the presence of at least three, high-grade, subparallel, gold-bearing structures located approximately 50 to 100 metres from surface along the south wall of the current open pit. Exploration information indicates that the lens extend up to 300 metres along strike and 200 metres downdip. Select results include: 4.5 m averaging 5.5 g/t Au at nine m downhole and 3.0 m averaging 6.2 g/t Au at six m downhole.
• On Feb. 17, 2015, the company announced that it had entered into an agreement whereby the company will acquire all of the issued and outstanding common shares of Newstrike Capital. The combination of the company and Newstrike will create an emerging intermediate, Mexican-focused gold producer with a portfolio of high-quality production and growth assets all based in Mexico. Shareholder approval of the arrangement was obtained by both companies on April 29, 2015.

Recent developments:

• On April 29, 2015, the shareholders of the company and the shareholders of Newstrike voted (over 92 per cent and 98 per cent, respectively) to approve the agreement entered into on Feb. 17, 2015, between the company and Newstrike, whereby the company will acquire all of the issued and outstanding common shares of Newstrike through the arrangement. The arrangement is expected to close in May, 2015. Under the terms of the arrangement, Newstrike shareholders will receive 0.90 of a company common share and 0.01 Canadian cent in cash for each Newstrike common share. In addition, each outstanding option to purchase a Newstrike share will be exchanged for an option to purchase a company common share with equivalent terms based upon the exchange ratio.
• Newstrike is a TSX Venture Exchange-listed company whose principle asset is the Ana Paula project in Guerrero, Mexico. The company considers the Ana Paula project to be a high-quality prospect, which will be a strong addition to the company's future growth plans, which also include development of the Caballo Blanco project.

        SUMMARIZED FINANCIAL STATEMENTS AND OPERATING RESULTS
            (U.S. dollars (thousands) except where noted)

                                              First quarter     First quarter
                                                      ended             ended
                                             March 31, 2015    March 31, 2014

Gold sold (oz)                                       24,155            36,763
Silver sold (oz)                                     15,309            26,647
Metal revenues                             $         29,492  $         47,050
Production costs, excluding depreciation
and depletion                              $         22,599  $         26,357
(Loss) earnings from operations            $           (222) $         12,861
(Loss) earnings                            $           (710) $          8,105
(Loss) earnings per share, basic and
diluted                                    $          (0.00) $           0.05
Total cash costs per gold ounce on a by-
product basis                              $            925  $            703
All-in sustaining cash cost per ounce
gold                                       $          1,055  $            790
Average realized gold price per gold
ounce                                      $          1,221  $          1,280

Reminder of 2015 results conference call

The company's senior management will host a conference call May 5, 2015, at 11 a.m. (ET) to discuss the first quarter 2015. Participants may join the call by registering on-line through a link on the Timmins Gold website home page and entering the passcode 110046.

After entering your information, you will be given a passcode and PIN number that you will need to join the conference call. 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 number. A replay of the call will be available after the call until May 11, 2015, by dialling 1-800-408-3053 (Canada and the United States) or 1-905-694-9451 (international) with the passcode 7508059. A live and archived audio webcast will also be available at the Timmins Gold website.

Technical information contained in this news release was reviewed and approved by Taj Singh, MEng, PEng, a vice-president of the company, who is recognized as a qualified person under NI 43-101.

We seek Safe Harbor.