On site at present, Timmins Gold's mining and crushing operations are continuing with the available Komatsu shovel and six Caterpillar 100 ton trucks until the full mining fleet arrives. Over 100,000 metric tonnes of ore have been stacked on the heap leach pads and gold leaching has begun.
| April 28, 2009 |
| Timmins Gold Corp. Announces Closing of Second Tranche of Non-Brokered Private Placement |
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 28, 2009) - Timmins Gold Corp. (TSX VENTURE:TMM) announces the closing of the second tranche of the private placement announced by news release dated March 2, 2009. The second tranche consists of 5,989,500 units (the "Units") at a price of $0.40 per Unit, for gross proceeds of $2,395,800. Each Unit consists of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder to purchase an additional common share at an exercise price of $0.60 per share for a period of one year from closing of the private placement. All securities issued in connection with the private placement are subject to a hold period expiring four months and a day from the date of issuance.
The Company paid cash finders' fees totaling $186,064.
The proceeds from the private placement will be used towards completion of the construction of the Company's wholly owned San Francisco Gold Mine in Sonora, Mexico and for general working capital.
Bruce Bragagnolo, LLB., Chief Executive Officer |
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