From the new website.November 2015 CEO Letter to Shareholders As Interim CEO I am pleased to take this opportunity to directly address all stakeholders of Timmins Gold Corp. The current environment of low metal prices coupled with a general negative market sentiment have caused our business and share price to suffer. Our immediate focus is to strengthen the balance sheet and place to the corporation on a solid financial foundation from which we can build value. We are committed to achieve this goal in the most efficient and non-dilutive way possible. We are and will continue to take all necessary steps to restore value through prudent and cash flow positive operations at San Francisco as well as adhering to strict cost controls across all levels of the corporation. In the past year, the corporation acquired two attractive development assets which pave the way for future growth and profitability. The Ana Paula project is a priority for the company and will become a very profitable mine given its grade, capital efficiency and low cash costs. We anticipate, with adequate funding, to complete the feasibility study mid 2016 followed by obtaining permits late 2016 to early 2017. First production could be achieved by early 2018. The project has industry leading IRR and a high lending capacity and therefore could be financed without using large portions of equity. Caballo Blanco remains a value proposition based upon permitting success. We have a depth of inhouse experience that uniquely positions Timmins to unlock value by gaining traction on obtaining the required operating permits. We work towards this goal with minimal cash outflows. Whereas San Francisco will be placed on care and maintenance mid 2016 there remains intrinsic value in the asset as it is a permitting and built mine that can be placed back into production given acceptable market conditions. There is vastly more intrinsic value in the corporation that what is being valued in the market currently. We appreciate and encourage your continued patience as we work through the immediate financial challenges. We recognize that Timmins is your company and we are committed to generate value for you the shareholder. Sincerely, Mark Backens Interim CE