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VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 10, 2015) - Timmins Gold Corp. (News - Market indicators)(NYSE MKT:TGD) ("Timmins Gold" or the "Company") is pleased to report its financial results for the year ended December 31, 2014. The comparative period is the year ended December 31, 2013. All results are presented in United States dollars ("US Dollars") unless otherwise stated. Readers should refer to the 2014 management discussion and analysis and audited consolidated financial statements for complete information.
"2014 was a strong year operationally as we reached our guidance for both ounces produced and cash costs," stated Bruce Bragagnolo, CEO of Timmins Gold. "Drilling directly below the San Francisco pit identified multiple high grade veins sub-parallel to the pit wall, extending along strike and open down dip below the pit and our regional exploration program was successful in confirming areas for high priority follow up drilling. Timmins Gold is performing economic studies to determine the most cost effective method of mining the high grade veins.
In addition, we bolstered our growth profile by completing the acquisition of the Caballo Blanco open pit heap leach project and subsequent to the year end we announced a merger with Newstrike Capital Inc. These two transactions position Timmins Gold to become a mid-tier producer with an average annual gold production of over 325,000 ounces and industry leading all-in sustaining cash costs of approximately $775 per ounce.
We are very excited about the Company's prospects for 2015 as we continue to add shareholder value by leveraging our in country operational and development expertise supported by an experienced and well known board of directors."
2014 HIGHLIGHTS
SUMMARIZED ANNUAL FINANCIAL STATEMENTS AND OPERATING RESULTS
SUMMARIZED QUARTERLY FINANCIAL STATEMENTS AND OPERATING RESULTS
Reminder of 2014 results conference call:
The Company's senior management will host a conference call Tuesday March 10, 2015 at 11am (ET) to discuss fiscal 2014. Participants may join the call by registering online through a link on the Timmins Gold website homepage www.timminsgold.com and entering the passcode 106942 or by following this link:
https://selfreg-inscriptionauto.confsolutions.ca/webportal/reg.html?Acc=3695912854&Conf=161737
After entering your information, you will be given a passcode and pin that you will need to join the conference call. Participants may join the call by dialing toll free 1-888-789-9572 (Canada and U.S.) or 1-416-695-7806 (International) and entering their personal passcode and pin. A replay of the call will be available after the call until March 16, 2015, by dialing 1-800-408-3053 (Canada and U.S.) or 1-905-694-9451 (International) with the passcode 7959139. A live and archived audio webcast will also be available at www.timminsgold.com.
Technical information contained in this news release was reviewed and approved by Taj Singh, M.Eng., P.Eng., a Vice President of the Company who is recognized as a QP under NI 43-101.
About Timmins Gold
Timmins Gold is in commercial gold production at its wholly owned San Francisco Gold Property in Sonora, Mexico. The mine is an open pit heap leach operation from which Timmins Gold has projected production of 115,000 to 125,000 ounces of gold in 2015 at a cash cost of US$800 to US$850 per ounce.
Timmins Gold also has a 100% interest in Caballo Blanco, an advanced stage open pit, heap leach gold project located 65km Northwest of Veracruz, Mexico.
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.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained herein may constitute forward-looking statements and are made pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Forward-looking statements are statements which relate to future events including projected production (and estimated cash costs). Such statements include estimates, forecasts and statements as to management's expectations with respect to, among other things, business and financial prospects, prospects of closing the arrangement with Newstrike Capital Inc. and the completion of the private placement announced in conjunction with the arrangement, financial multiples and accretion estimates, future trends, plans, strategies, objectives and expectations, including with respect to production, exploration drilling, reserves and resources, exploitation activities and events or future operations. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when, and if, a project is actually developed.
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 suggestions herein. Except as required by applicable law, Timmins Gold does not intend to update any forward-looking statements to conform these statements to actual results.
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