NYSE MKT: TGD • $0.39     TSX: TMM • $0.52     Gold: 1284.56

2007

Property Acquisition Las Coloradas, Durango, Mexico


May 29, 2007

Timmins Gold Corp. ("Timmins Gold") announces that it has entered into an agreement to acquire a 100% interest in the Las Coloradas property and mill located in Durango, Mexico. The Las Coloradas Project consists of 17 concessions covering approximately 4,900 hectares in the western section of the State of Durango, near the border with Sinaloa. The project is located in the heart of one of the best known epithermal gold -- silver districts in Mexico, near several famous bonanza mining districts which include Tayoltita, Guadalupe de los Reyes, Cosala and San Jose de Gracia.

In order to exercise the option to acquire the property and mill, Timmins Gold must pay USD$350,000 and issue 500,000 common shares to the vendor upon receipt of Exchange acceptance, and pay a further USD$350,000 and issue an additional 1,500,000 common shares on or before December 31, 2007. 1,000,000 of the shares will be subject to a restrictive legend which will expire on December 31, 2008. The vendor will retain a 2.5% net smelter return interest, 1% of which may be purchased for USD$1,000,000. The vendor is an arm's length party.

The following has been extracted from a 1994 report (the "Report") prepared by G.W. Park titled "Summary Report on Las Coloradas Mining District, Mexico." The Report was not prepared in accordance with NI 43-101 nor has the information contained in the report been independently verified by Timmins Gold and therefore should not be relied upon when considering investment decisions. The extract is reproduced to merely outline the potential of the property.

" The Las Coloradas Project was in production intermittently from 1937 to 1991, There are several shafts and underground workings on the Project including the Santa Anita workings. Between 1989 and 1994 approximately 4,468 tonnes of gold-silver ore were produced from the Santa Anita workings with reported average grades of 15 grams of gold per tonne and 2,700 grams of silver per tonne. Average recovery from the mill and cyanide recovery system was over 90% for gold and 75% for silver. Operations were shut down due to increasing costs and inefficient workings. Exploration at Las Coloradas dates back to the mid 1930's when high grade bonanza gold and silver was discovered. Visible gold was initially identified in outcrop with reported grades as high as 907 grams of gold per tonne. Construction of the mine and mill was completed in 1937. The plant now consists of a 70 tonne per day flotation mill and generating plant."

"The main controlling feature is a four kilometer long north-northwest trending fault system (Veta Principal or Principal Vein) along which many of the area mines have been developed to date. A feldspar porphyry dyke, 5 to 15 metres wide, is observed in several places within the Veta Principal fault zone and may be continuous along its entire 4 kilometer strike length. Gold and silver mineralization along the Veta Principal occurs as quartz-sulphide shoots in the predominantly clay filled fault zone at regular intervals along its four kilometer length. The longest dimension of these ore shoots is believed to be down plunge, at depth and, apart from shallow underground workings, is unexplored by drilling. The Veta Principal is also intersected by west-northwest cross faults. The veins, in particular the Guadalupe vein remain open at depth. Assay values from the drift along the Guadalupe vein ranged from 0.5 to 26 grams of gold per tonne and from 30 to 1,015 grams of silver per tonne."

Timmins Gold has completed a small program of confirmation sampling to verify the tenure of certain high grade zones. The old underground workings on the Project are inaccessible however certain samples believed to represent ore mined from the 60 meter level of the Santa Anita adit were collected from the conveyor belt to the mill. The balance of the samples were taken from surface. Timmins Gold's geologist observed a mineralized structure of approximately 3 kilometers in length as evidenced on surface by hydrothermal alterations, oxidation, silicification and kaolinization in a width of 3 metres. The following are the results from the sampling program.

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Sample                        Width     Au     Ag
No.               Location  (meters)  (g/t)  (g/t)  Observations
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GG-1    24 degrees 46'43.7"    3.00  Trace     35   Rhyolithic Tuffs with
       106 degrees 35'16.5"                           hydrothermal
                                                     alteration
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GG-2    24 degrees 46'16.1"    3.00  Trace     25   Granodioritic intrusive
       106 degrees 35'07.4"                           altered
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GG-3  Same as previous         3.00  Trace     30   Same as previous
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GG-4  Process plant ore      Sample     12    608   Ore from Santa Anita
       bin               size 3 kgs                  - 60 m level
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GG-5  Same as previous       Sample     11    590   Ore from Santa Anita
                          size 3kgs                  - 60 m level
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GG-6  Conveyor belt to       Sample      4    386   Ore from Santa Anita
       the mill           size 5kgs                  - 60 m level
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GG-7  Same as previous       Sample      8    450   Ore from Santa Anita
                          size 3kgs                  - 60 m level
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GG-8  Process plant ore      Sample     10    520   Ore from Santa Anita
       bin                size 3kgs                  - 60 m level
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GG-9  Same as previous       Sample      7    500   Ore from Santa Anita
                          size 3kgs                  - 60 m level
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GG-10    24 degrees 45'41"     3.00  Trace     28   Dacitic dyke with
      106 degrees 34'56.7"                            pyrite - chalcopyrite
---------------------------------------------------------------------------
GG-11    24 degrees 45'41"     3.00  Trace     32   Same as previous
      106 degrees 34'56.7"   
---------------------------------------------------------------------------
GG-12 Same as previous         2.00      4    820   Los Fresnos vein
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GG-13 Same as previous         2.00  Trace     30   Dacitic host rock
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GG-14 Same as previous         2.00      5    750   Los Fresnos vein
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GG-15 Same as previous         2.00      3    580   Los Fresnos vein
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GG-16 Same as previous         2.00      4    800   Los Fresnos vein
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GG-17  24 degrees 44'55.3"     2.00  Trace     30   Los Tajos, alteration
      106 degrees 34'44.4"                            zone
---------------------------------------------------------------------------
GG-18 Same as previous         2.00  Trace     35   Los Tajos, altered
                                                     tuffs
---------------------------------------------------------------------------
GG-19  24 degrees 44'55.3"     2.00  Trace     28   Los Tajos, altered
                                                     tuffs
---------------------------------------------------------------------------
GG-20  24 degrees 44'55.3"     2.00  Trace     36   Los Tajos, altered
                                                     tuffs
---------------------------------------------------------------------------
Timmins Gold plans to commence systematic exploration along the length of the Veta Principal with a focus on the known ore shoots.

The acquisition is subject to acceptance by the TSX Venture Exchange.

Qualified Person

Pursuant to National Instrument 43-101, Darcy Krohman, P.Geo., C.A,. Senior Vice-President and CFO of Timmins Gold Corp. is the Qualified Person (QP) responsible for the disclosure in this news release. Field work has been conducted by Timmins Gold Corp. employees and contractors.

For further information, contact:

Arturo Bonillas, B.Sc.(Eng)
President
Hermosillo, Sonora, Mexico
Tel: 011-52-662-262-1132
arturo@timminsgold.com

Darcy Krohman, P.Geo., C.A.
Vice-President & CFO
Vancouver, BC, Canada
Tel: 604-638-8971
darcy@timminsgold.com

For Investor Relations, contact:

Leighton Bocking
Corporate Development
Vancouver, BC, Canada
Tel: 604-638-8977
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.