Timmins Gold Corp. reported operational results for the year ended December 31, 2015. For the period, the company reported the updated Proven and Probable Reserves for the San Francisco Gold Mine ($1,100/oz gold) are 374,000 ozs of gold (18.5 Mt at 0.63 g/t). This is exclusive of stockpiled ore, 62,000 ozs of gold (7.4 Mt at 0.26 g/t). As at December 31, 2015, the updated Measured and Indicated Resources (inclusive of Reserves) for the San Francisco Gold Mine ($1,200/oz) are 693,000 ozs of gold (34.6 Mt at 0.62 g/t). This is inclusive of the SF underground M&I Resource of 53,000 ozs (0.48 Mt at 3.48 g/t) As at December 31, 2015, the updated Inferred Resources for the San Francisco Gold Mine ($1,200/oz) are 41,000 ozs of gold (0.95 Mt at 1.33 g/t). This is inclusive of the SF underground Inferred Resource of 27,000 ozs (0.24 Mt at 3.50 g/t).

For the fiscal 2016, the company expects production to be 75,000 to 85,000 gold ounces with cash costs of approximately $750 to $850 per gold ounce sold. Estimated operating parameters include an average ore throughput of 20-22 ktpd, average stacked grade of 0.58-0.62 g/t Au, and average strip ratio in the 1.75:1 range.

Total 2016 capital expenditures (sustaining and development) are estimated to be approximately $1-2 million.