Tahoe Resources Inc.

Tahoe Resources Inc. is a publicly traded company led by experienced mining professionals who are dedicated to the responsible production of precious metals in the Americas. In its quest to build and operate a world class silver mine, the company is dedicated to maximizing shareholder value while working to the highest standards of environmental protection and community engagement. Tahoe's flagship 100%-owned Escobal project is located in southeastern Guatemalan, approximately 70km from Guatemala City, near the municipality of San Rafael las Flores. As a new leader in silver, the company recognizes our responsibility to its shareholders, employees and communities.

Expert Comments:

Geordie Mark, Haywood Securities (1/20/15)
"Tahoe Resources Inc. released Q4/14 production. . .of 5.23 Moz silver (plus gold and base metal credits), which came in slightly ahead of our estimates of 4.92 Moz silver (4.63 Moz silver payable). . .higher grades at 585 g/t silver (versus 547 g/t in Q3/14). . .management provided 2015 production guidance of 18–21 Moz silver (production not payable) at a cash cost of $6.35–8.25 per silver ounces (net of gold and base metal credits). . .with mine/mill production increasing from 3,500 tpd in H1/15 to 4,500 tpd in H2/15."

Chris Thompson, Raymond James (1/20/15)
"We are increasing our target price on Tahoe Resources Inc. to $19 (from $17.25) following the release of in line Q4/14 production results and 2015 production, cost and capex guidance. . .we continue to view the company as a top-quality story in the silver space given its sector-leading, free cash flow-generating ability, strong balance sheet, stable dividend and quality management team."

Andrew Kaip, BMO Capital Markets (1/20/15)
"Tahoe Resources Inc. reported Q4/14 production of 5.23 Moz silver, approximately 3% below our forecast of 5.39 Moz due to slightly lower silver grades. Full-year production of 20.3 Moz silver came in at the upper end of the guidance range (18–21 Moz). . .2015 production guidance was consistent with our forecast, with slightly lower grades offset by higher throughput in H2/15. The company plans to complete the expansion mid-year to facilitate an increase in throughput to 4.5 Ktpd over H2/15."

Matthew O'Keefe, Dundee Capital Markets (1/8/15)
"Tahoe Resources Inc. is our second preferred pick given the underlying quality of the low-cost Escobal mine (100% of NAV, Guatemala), which benefits from very high grades and wide vein structures. The expansion to 4,500 tpd from 3,500 tpd should see site costs move down further."

"In the silver sector, we look toward Tahoe Resources Inc. as an outlier—a well-run company—given its strong management team, high-quality assets and significant management ownership of the company. It is a leader of our industry. . .Tahoe made the short list of "flight to quality" recommendations in a recent BMO report because it has asset quality that's comparable to Fresnillo. . .it certainly has a primary asset that will be the company cornerstone for many years to come." read more >

Stephen Walker, RBC Capital Markets (12/14/14)
"We came away impressed with Tahoe Resources Inc.'s Escobal site visit, in which we saw a smooth-running operation, strong management execution, and a solid corporate social responsibility program. The company continues to offer exposure to 20 Moz/year of low-cost silver production and a 1.5% dividend yield. . .it has a proven management team, and we view the Escobal silver mine in Guatemala as a world-class, low-cost operation with exploration upside and an approximately 20-year mine life. . .Tahoe is expected to remain a leading North American silver producer in 2015. . .we believe its shares will outperform the peer group."

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Investing Highlights
High-grade Silver Deposit, Low Cost Producer
First Dividend Payment Made in First Year of Production
Committed to Delivering Long-term Shareholder Value
Tahoe Resources Inc. Content