On June 2, 2014, Sentry Investments Inc. issued a press release and announced that it has notified Timmins Gold Corp of its intent to nominate 6 directors to the current 8 member Timmins Board of Directors at the next annual general meeting (AGM). Further, Sentry stated that after it gave notice of its intent to Timmins, the AGM previously scheduled for July 17, 2014, was cancelled as of the evening of May 23, 2014. A rescheduled meeting has not been announced.

Further, Sentry reported that it has sent a letter to the TSX advising that Timmins is in violation of the TSX rules requiring the AGM to be held prior to June 30, 2014 and stressing the need for the AGM to be held imminently to provide shareholders with the opportunity to vote. The cancellation of the AGM is clearly a delay tactic by management and the Board to further entrench themselves as they were fully aware of Sentry's dissatisfaction and desire to make significant Board changes prior to the cancellation of the meeting. In addition, Sentry announced that it has also advised Timmins in writing that prior to the AGM being held, management and the Board should not take any actions outside of the ordinary course of business.

Sentry has accumulated its position in Timmins over the last several years and strongly believes that the lack of Board independence, lack of management accountability and mismanagement of the assets has unnecessarily eroded shareholder value.