Tahoe Reports 2013 Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 13, 2014) - Tahoe Resources Inc. (TSX:THO)(NYSE:TAHO) today reported financial results for the year ending December 31, 2013, and provided a production update for its flagship Escobal silver mine in Guatemala.

Tahoe President and CEO Kevin McArthur said, "We are very pleased with corporate performance through the end of 2013. Capital spending to complete the Escobal mine came in very close to our initial estimates and we were able to declare on-time commercial production, effective January 1, 2014."

Highlights for 2013 include (all amounts in U.S. dollars unless otherwise stated):

• Net earnings/(loss) for the year amounted to ($65.6 million) or ($0.45) per share.
• Cash and equivalents at year-end were $8.8 million.
• Cash outflow from operating activities amounted to $65.5 million.
• Corporate general and administrative (G&A) expense amounted to $13.8 million, excluding non-cash share-based compensation of $5.7 million.
• Exploration expenses amounted to $5.3 million.
• The first precious metal concentrate shipment was on October 15, 2013.

During 2013, the Company incurred $36.4 million in Escobal project expenses. Upon receipt of the exploitation permit in April 2013, the Company commenced capitalization of underground expenses associated with the Escobal project. For the year, the Company capitalized construction and sustaining costs of $45.6 million relating to underground infrastructure and development, as well as $121.8 million relating to surface infrastructure. Pre-operating revenues in excess of expenses of $9.3 million were credited back to the project during the year.

Complete financial results as well as the Company's management's discussion and analysis and other filings will be filed on SEDAR (www.sedar.com) and the Company's website (www.tahoeresourcesinc.com).

Escobal Production

Wet commissioning of the mill and initial production of concentrates began at the end of the third quarter of 2013. The first precious metal concentrate shipment was made on October 15, and production ramp-up proceeded smoothly throughout the quarter.

At December 31, 2013, access to approximately 262,000 tonnes of mill feed was fully developed underground and an additional 64,000 tonnes were stored on the surface stockpile. Primary development was completed for approximately five years of mill feed.