The Energy Report

Timmins Gold Corp. TICKER: TMM:TSX.V; TMM:NYSE.A Visit Company Website Timmins Gold Corp. is strategically positioned for continuous growth as a gold production and development company. Focused in Mexico, the company owns and operates the San Francisco gold mine, an open-pit, heap-leach operation scheduled for production in excess of 130 Koz gold annually. Timmins Gold is also focused on an aggressive drill program in and around the San Francisco and La Chicharra pits that has already doubled resources and reserves in the last year alone. Continuous drilling to year end is expected to significantly increase ounces. Timmins Gold's exploration portfolio also consists of 250,000 ha. of claims in Northern Sonora along with several other gold projects.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Analysis

The Gold Report Interview with Philip Ker (1/27/12) "I toured Timmins Gold Corp.'s property last August and initiated coverage shortly after. . .Timmins has now adjusted the flow rates and the irrigation setup and has now shown that it has recovered 30% more gold this quarter than the previous, and increased recoveries from 50% to 65%. As well, it demonstrated recoveries of 76%, ultimately achieving a record 8,500 oz gold production in December. . .I'm quite optimistic for Timmins this year and expect around 115 Koz production. With the increased recoveries as well as an increase to its throughput expected later this year from the addition of a mobile crusher, Timmins should be able to achieve this target." More >

Jay Taylor, Gold, Energy & Tech Stocks (1/13/12) "Timmins Gold Corp. produced 21,524 oz gold during Q411; it produced 8,504 oz gold during December 2011. . .the company has forecast production at a rate in excess of 100 Koz gold/year. Longer term, it has outstanding exploration potential, and with strong cash flows, it is now set to grow organically."

Nicholas Campbell, Canaccord Genuity (1/11/12) "Timmins Gold Corp. reported Q411 gold sales of 21,893 oz on record production of 21,524 oz gold. An average recovery of roughly 65% was reported for Q411, a significant improvement from the average recovery of 49% reported for Q311. . .we are encouraged by the improvement in recoveries and production at San Francisco."

Philip Ker, Union Securities (1/11/12) "With continued success and maintaining higher recovery rates, along with increased throughput, we expect Timmins Gold Corp. to continually provide positive production numbers to the market. With a new NI 43-101 reserve estimate expected in Q112, additional reserves will be added to the San Francisco mine life and demonstrate that the company has many fruitful years ahead with its improving production scenario; we reiterate our Buy rating and maintain a $3.90 target."

Ingrid Rico, M Partners (1/10/12) "Timmins Gold Corp. released an operational update for the quarter ending Dec. 31 in which the San Francisco mine achieved average recoveries of 65%, which is a substantial improvement over the previous quarter. . .we believe that Timmins can focus in 2012 on further expanding the mining and processing capacity of a combined San Francisco/La Chicharra operation. We anticipate an increase to 18,000 tpd in Q112 and up to 28,000 tpd by year-end following the installation of a new 10,000 tpd crusher in mid-2012."

• Corporate Fact Sheet (8/24/11)
• Corporate Presentation (9/1/11)

(12/10/10) Industry Watch

(10/28/10) Timmins Gold

(12/24/11) TMM: Production Grows

(11/16/10) Daily Show

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