NYSE MKT: TGD • $0.38     TSX: TMM • $0.51     Gold: 1245.02

2009

Regulatory Review Completed


February 2, 2009

As a result of a review by the British Columbia Securities Commission Timmins Gold Corp. (the "Company") is issuing the following news release to clarify its disclosure.

On April 7, 2008 the Company filed a technical report entitled "NI 43-101 Technical Report on the Preliminary Feasibility Study for the San Francisco Gold Project, Sonora, Mexico (the "Report") dated March 31, 2008 prepared by Micon International Limited and Independent Mining Consultants Inc. It has come to the Company's attention that certain disclosure in the Report is not in compliance with the guidelines established by National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). In particular, Tables 17.4 and 17.6 in the Report detailing the sensitivity analysis for "Floating Cones for Resource Definition -- Measured, Indicated & Inferred Mineral Resources" were not prepared in compliance with NI 43-101, Part 2.2, since they included inferred mineral resources and additional tonnages derived from sensitivity analysis that should not have been treated as mineral resource estimates. The Company also disclosed the larger non-compliant estimate in a corporate presentation on its website, and it appeared in third party articles and media. The Company retracts its prior disclosure of mineral resource estimates exceeding those tabulated below.

As a result the reproduction of the above tables in the Company's news release dated April 8, 2008 and the Annual Information Form dated July 24, 2008 were also not in compliance with NI 43-101.

The Company has prepared and filed on SEDAR an amended technical report dated January 16, 2009.

Further, the Company's web site had posted a corporate presentation which referenced the potential for increasing the resource both around the existing pit area and on a regional basis. The Company retracts the reference to the potential in the corporate presentation. The Company also retracts an estimate of potential gold ounces in an exploration target appearing in an article by Jay Taylor previously posted on the Company's website and which also occurs in other third party media. The Company has no estimates of potential exploration targets compliant with NI 43-101.

The correct disclosure of both the mineral resource and mineral reserve at the San Francisco project as of February 29, 2008 are published in the revised Report and are as follows. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves.

Category

Tonnes
(000 t)

Grade
(g/t Au)

Contained Gold
( oz)

Measured Mineral Resource

5,352

0.912

156,930

Indicated Mineral Resource

22,296

0.781

559,860

Total Measured + Indicated Resources

27,648

0.806

716,790

Inferred Mineral Resource

2,506

0.788

63,490

the mineral reserve, which constitutes part of the mineral resource, is as follows:

Case

Reserve Class

Gold
Cut-off
(g/t)

Reserve
(000 t)

Grade
(g/t)

Gold
(000 oz)

High Grade
Crusher feed

Probable

0.50

12,000

1.05

403.7

Low Grade
Crusher feed

Probable

0.23

4,653

0.88

132.0

Sub-total Crusher feed

Probable

 

16,653

1.01

535.7

Low Grade ROM leach

Probable

0.28

5,981

0.39

75.3

Grand Total

Probable

 

22,634

0.84

611.0

Certain third party print and audio media have speculated about the potential for increasing the resource at the San Francisco project and have included statements about the mine life at the San Francisco project. The correct resource and reserve disclosure can be found in the tables above. As stated in the Report and the revised Report, the mine life with the current reserve is projected to be slightly in excess of 5 years at an annual rate of production of 80,000 ounces of gold. Further the Company disassociates itself from any conjecture that may be construed as share value guidance which may be found in such media.

On behalf of the Board of Directors

TIMMINS GOLD CORP.

Per: "Bruce Bragagnolo"
Bruce Bragagnolo
CEO and Director

For further information, contact:

Bruce Bragagnolo, LLB
CEO
Vancouver, BC, Canada
Tel: 604-638-8980
bruce@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 our 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.