Mr. Ron Clayton reports

TAHOE RESOURCES ACHIEVES RECORD SILVER AND GOLD PRODUCTION IN 2016, ANNOUNCES 2017 FINANCIAL AND OPERATING GUIDANCE

Tahoe Resources Inc. had record silver and gold production in 2016 and has released its 2017 production and cost guidance. Production costs for the year will be released in March with the company's full-year and fourth quarter 2016 financial and operating results.

Silver production in 2016 was a record 21.3 million ounces (fourth quarter 2016: 4.8 million ounces), which surpassed the company guidance of 18 million to 21 million ounces. Gold production for the year totalled 385,111 ounces (fourth quarter 2016: 119,932 ounces), in line with guidance of 370,000 to 430,000 ounces. Included in 2016 gold production was record output at the La Arena mine of 204,362 ounces (fourth quarter 2016: 58,388 ounces), 121,562 ounces of production from Canadian operations from its acquisition on April 1, 2016, to the end of the year (fourth quarter 2016: 45,341 ounces) and 48,462 ounces of production from Shahuindo (fourth quarter 2016: 13,801 ounces), including ounces produced prior to commercial production being achieved on May 1, 2016.

Ron Clayton, president and chief executive officer of Tahoe, commented: "Two thousand sixteen was a pivotal year for our company. We made significant progress building our gold business with the acquisition of Lake Shore Gold in April, adding both production and growth in Canada. We also achieved commercial production at Shahuindo and identified a number of growth opportunities at both our operations in Peru. In Guatemala, Escobal had an outstanding year, with record production, low costs, and excellent profitability and cash flows. Supported by solid operating results, our financial position remains strong, with cash and equivalents exceeding $150-million at Dec. 31, 2016.

"Looking ahead to 2017, we are ramping up development of multiple projects, which are expected to drive growth in gold production starting in 2018. Key capital projects include deepening the Bell Creek shaft and further development of Shahuindo as we move that mine towards full production. We are targeting higher production from both our Canadian operations and Shahuindo to offset reduced gold output at La Arena, while Escobal is poised for another excellent year."

Production and cost guidance for 2017:

Two thousand seventeen silver production:  18 million to 21 million ounces

Two thousand seventeen gold production:  375,000 to 425,000 ounces

Total cash cost per silver ounce produced:  $7 to $8

All-in sustaining cost per silver ounce produced:  $9.50 to $10.50

Total cash cost per gold ounce:  $700 to $750

AISC per gold ounce produced:  $1,150 to $1,250

Sustaining capital (including capitalized exploration):  $160-million to $175-million

Project capital:  $150-million to $175-million

Exploration expense:  $35-million to $45-million

Corporate general and administrative:  $45-million to $55-million

The Escobal silver mine is targeting another solid year in 2017, with the company's guidance for silver production and unit costs being similar to the initial guidance for 2016 announced last January. Guidance for gold production in 2017 is similar to the target range for 2016 issued following the Lake Shore Gold acquisition, with production expected to increase in 2018 as capital programs at both Bell Creek and Shahuindo are completed. Guidance for cash costs and all-in sustaining costs per ounce of gold produced in 2017 reflects a higher level of production from Shahuindo, where production will continue to ramp up during 2017, as well as lower average grades at La Arena. Also contributing to higher AISC will be increased exploration expenditures as the company accelerates drilling at a number of key targets in Peru and Canada.

Sustaining capital expenditures in 2017 are estimated at between $160-million and $175-million, which reflects a full year of results from the company's Canadian operations, as well as commercial production at Shahuindo. Sustaining capital expenditures in 2017 include continued investment in leach pad and waste dumps in Peru, as well as continuing development efforts in Canada and Guatemala. The expansion of Shahuindo to its full production capacity of 36,000 tonnes per day remains on target for completion by mid-2018.

Project capital expenditures in 2017 are targeted at $150-million to $175-million. The two largest components of the company's growth plan in the coming year are the shaft project at the Bell Creek mine and the construction of a crushing and agglomeration plant at Shahuindo. In Canada, over $50-million of the $80-million capital requirement for the Bell Creek shaft project is planned for 2017, with completion of the project anticipated in the first half of 2018. In Peru, the company plans to invest approximately $65-million for the construction of the crushing and agglomeration plant at Shahuindo (included in project capital). Based on a number of operational improvements over the last quarter of 2016, the company may have an opportunity to reduce capital requirements at Shahuindo in both 2017 and 2018 through the optimization of mine operations, including the initial 12,000-tonne-per-day crushing and agglomeration circuit.

Exploration expenditures are expected to total between $35-million and $45-million in 2017 as the company conducts drilling programs at a number of key targets. Included in expected 2017 exploration expenditures are work programs at the La Arena sulphide, Fenn-Gib and Juby projects intended to advance the company's longer-term, large-scale initiatives toward feasibility. The company plans to issue an exploration update press release over the next week.

Qualified person statement

Technical information in this press release has been approved by Charlie Muerhoff, vice-president, technical services, Tahoe Resources, a qualified person as defined by NI 43-101.

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