TIMMINS GOLD / ALIO GOLD ANNOUNCES REVITALIZATION PLAN FOR SAN FRANCISCO MINE, INCREASES 2017 GUIDANCE

http://www.timminsgold.com/_resources/news/nr_20170511b.pdf

May 11, 2017 Vancouver, BC – Timmins Gold Corp. (TSX: TMM, NYSE MKT: TGD) (“Timmins Gold” or the “Company”) is proposing to change its name to Alio Gold Inc. at its upcoming Annual General Meeting of Shareholders. If approved, the Company expects to begin trading on both the TSX and the NYSE MKT under the ticker ALO on May 16, 2017. The Company is pleased to announce a revitalization plan for its San Francisco Mine (the “Mine”) in Sonora, Mexico. All figures are US$ unless otherwise stated. HIGHLIGHTS • Increase in 2017 guidance of 86,000 to 92,000 ounces of gold produced (from 70,000 to 75,000); • Production of an average of 103,000 ounces of gold per year for a further six years (2018 to 2023); • Proven and Probable Mineral Reserves of 54.8 million tonnes at 0.53 g/t gold (928,700 ounces of contained gold); • Cash costs of $900/oz (AISC for the site of $935/oz) average over the life of mine; and, • Cash flow from operations of $34 million per year for six years (2018 to 2023 at $1,250/oz gold).

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s