Tahoe Resources Inc. (“Tahoe” or the “Company”) (TSX: THO, NYSE: TAHO) is pleased to report record gold production of 445,000 ounces in 2017, achieving the high end of its annual gold production guidance range of 400,000 to 450,000 ounces, which was revised upward in September 2017.

The strong gold production for the year was driven primarily by La Arena, which exceeded its guidance due to on-going positive mine plan reconciliation with both higher grade and additional tonnes.

The outstanding performance from the gold business in 2017 underscores the increasingly meaningful contribution of the gold segment to the overall financial performance of the Company.

Total cash costs and all-in sustaining costs[1] for the full year 2017 are expected to be at or below the low end of the revised gold guidance range of between $650 and $700 per ounce and between $1,050 and $1,150 per ounce, respectively, driven by higher production levels and lower operating and capital costs. G&A is expected to be at the low end of revised guidance, with exploration in line with expectations.

Project capital for the near-term expansion projects is expected to be at the low end of the revised guidance of $100 to $115 million for the year. As a reminder, the initial project capital guidance for 2017 was $150 to $175 million, but was revised downward by $50 to $60 million due to a deferral in timing of spend and prudent capital management by the Company in response to the Escobal mine suspension.

Both major expansion projects – the Shahuindo Crushing & Agglomeration Expansion and the Bell Creek Shaft Project – remain within their respective estimated total project spend of $80 million each.

The remaining project capital that was not incurred in 2017 will be spent in 2018 to complete the projects. Both projects remain on schedule to be completed by mid-2018.

Total silver production for 2017 was 9.9 million ounces, predominantly from the Escobal mine during the first half of the year. There has been no production at Escobal since June 7, 2017 due to the on-going suspension of operations.

Despite the on-going interruption of mining operations at Escobal, Tahoe ended the year with cash and cash equivalents of approximately $125 million at December 31, 2017. In addition, the Company has access to $75 million of the $300 million revolving credit facility that matures on July 19, 2021, which remains fully undrawn.

As previously reported, the credit agreement includes terms that limit borrowing to a maximum of $75 million during the period of suspension of the mining operations at Escobal. The Company is working with its bank syndicate to renegotiate its credit facility which it expects to complete during the first quarter.

More detailed information relating to production and costs as well as updated gold guidance for 2018 to 2020 will be provided together with Tahoe’s fourth quarter and full-year 2017 earnings release on Thursday, February 22, 2018, after the market close.

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