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Timmins Gold Corp. Closes C$20 Million Bought Deal Offering of Units

Timmins Gold Corp. is pleased to confirm closing of its previously announced bought deal offering of 36,400,000 units of the Company, at a price C$0.55 per Unit for gross proceeds to the Company of approximately C$20 million.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Vancouver, BC - Timmins Gold Corp. (“Timmins Gold” or “the Company”)(TSX:TMM, NYSE MKT:TGD - https://www.youtube.com/watch?v=mUg0F6-Pmw4&t=1s&index=16&list=PLBpDlKjdv3yrtJgU748Qq7eaRUpid3YYq) is pleased to confirm closing of its previously announced bought deal offering of 36,400,000 units of the Company (the “Units”), at a price C$0.55 per Unit for gross proceeds to the Company of approximately C$20 million (the “Offering”).

The Units were issued in a public offering in all of the provinces of Canada, other than Quebec, pursuant to a short form prospectus dated November 28, 2016, and were underwritten by a syndicate of underwriters led by National Bank Financial Inc. and RBC Capital Markets and including BMO Nesbitt Burns Inc., PI Financial Inc., Scotia Capital Inc. and TD Securities Inc.
Each Unit consists of one common share of Timmins Gold (each, a “Common Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant will entitle the holder to acquire one common share of Timmins Gold at a price of C$0.70 at any time prior to May 30, 2018.
In addition, Timmins Gold has granted the Underwriters an option, exercisable at any time, in whole or in part, until the date that is 30 days following the closing of the Offering, to purchase up to an additional 15% of the number of Units solely to cover over-allotments, if any, and for market stabilization purposes. The Underwriters can elect to exercise the option for Units, Common Shares only, or Warrants only, or any combination thereof.

The Company intends to use the net proceeds of the Offering for exploration, preconstruction activities at the Ana Paula project and for working capital purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Contacts:

Timmins Gold Corp.
Mark Backens
Interim CEO and Director
604-682-4002
mark.backens@timminsgold.com
www.timminsgold.com
In Europe:
Swiss Resource Capital AG
Jochen Staiger
info@resource-capital.ch
www.resource-capital.ch

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) nor the New York Stock Exchange MKT accepts responsibility for the adequacy or accuracy of this news release.

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PDAC 2019

Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at info@resource-capital.ch. We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

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