NYSE MKT: TGD • $0.48     TSX: TMM • $0.65     Gold: 1242.97

2007

Timmins Gold Corp. Announces $6.0 Million Unit Offering


February 26, 2007

Timmins Gold Corp. has engaged Bolder Investment Partners, Ltd. as agent in connection with a best efforts private placement of 12 million units at a price of $0.50 per Unit ("Unit") for total gross proceeds of $6 million. Each Unit will consist of one common share and one-half of a non-transferable common share purchase Warrant. Each whole Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.70 for a period expiring on September 30, 2007. The Agent's compensation will include a cash commission of 7.5% of the gross proceeds of the Offering, which the Agent may elect to be paid in Units, a work fee of $7,500 plus GST and Agent's Warrants equal to 10% of the Units sold through the Offering. The Agent's Warrants will also be exercisable until September 30, 2007. The Offering will be offered to eligible investors in British Columbia, Alberta and Ontario. The Units are subject to a hold period of four months from closing of the Offering.

The proceeds will be used principally to fund the pre-feasibility study, resource expansion and step out exploration on the past producing San Francisco property in Sonora, Mexico and for general corporate purposes. The proceeds may also be used to help fund the acquisition of new projects.

The pre-feasibility study is currently focused on evaluating the viability of exploiting the 716,800 ounce measured and indicated and 63,500 ounce inferred gold mineral resource on the property. While several elements of the study are nearing completion management is also assessing the viability of alternative extraction processes to improve upon historical recoveries in light of the current price environment. In addition management believes there is significant opportunity to expand the resource both in the immediate area of the current resource and in other satellite deposits and targets on the 40,000 hectare property.

For further information, contact:

Bruce Bragagnolo, LLB.,
Director
Vancouver, BC, Canada
Tel: 604-417-9517
bruce@timminsgold.com

Darcy Krohman, P.Geo., C.A.
Senior Vice-President & CFO
Vancouver, BC, Canada
Tel: 604-682-4002
darcy@timminsgold.com

For Investor Relations, contact:

Derek Thomson
Director, Corporate Development
Vancouver, BC, Canada
Tel: 604-682-4002
derek@timminsgold.com

Leighton Bocking
Investor Relations
Vancouver, B.C., Canada
Tel: 604-682-4002
leighton@timminsgold.com


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. 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 out 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 suggests herein. Except as required by applicable law the Company does not intend to update any forward-looking statements to conform these statements to actual results.