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Tahoe Resources Inc
Symbol THO
Shares Issued 311,919,827
Close 2017-05-23 C$ 12.54
Market Cap C$ 3,911,474,631
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Tahoe learns of claim filed v. Guatemala over Escobal

2017-05-24 08:49 ET - News Release

Mr. Ron Clayton reports

TAHOE REPORTS ON LEGAL CLAIM IN GUATEMALA

Tahoe Resources Inc. has learned that an anti-mining organization, CALAS, has filed a claim against Guatemala's Ministry of Energy and Mines (MEM) alleging that MEM violated the Xinca indigenous people's right of consultation in advance of granting the Escobal mining licence to Tahoe's Guatemalan subsidiary, Minera San Rafael.

The last official census shows the San Rafael community to be overwhelmingly non-indigenous. Based on the lack of indigenous communities in or around the mine, and the fact that both MEM and Minera San Rafael participated in and documented hundreds of public and private meetings and open consultations in and around the mine area dating back to 2010, the company believes that the claim by CALAS is without merit. Minera San Rafael consulted with a number of indigenous people during its many meetings.

Ron Clayton, president and chief executive officer of Tahoe Resources, commented: "This is an attempt by an anti-mining NGO to oppose mining and other development in Guatemala despite the many benefits that these projects bring to local communities. Given the extensive consultation and socialization process followed by both MEM and Minera San Rafael leading to issuance of the Escobal licence, we are confident that the current claim is without merit. We responsibly conduct our business in alignment with international standards and consistently demonstrate an ongoing commitment to Guatemalans through employment, skills training, tax and royalty payments, and sustainability programs. As a result, we continue to enjoy significant community and government support within the country. This is best demonstrated by the success of our Escobal operation since we reached commercial production in January, 2014."

Under Guatemalan law, MEM has 48 hours from the date of notice (May 23, 2017) to issue a response to the Supreme Court, after which the Supreme Court is expected to issue an initial ruling in the next four weeks.

The claim has had no impact on existing operations at the mine which continues to meet or exceed the company's 2017 guidance.

About Tahoe Resources Inc.

Tahoe's strategy is to responsibly operate mines to world standards, to pay significant shareholder dividends and to develop high-quality precious metals assets in the Americas.

We seek Safe Harbor.

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