Tahoe Reports Incident and Updates Escobal Project

Tahoe Reports Incident and Updates Escobal Project 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/14/13 -- Tahoe
Resources Inc. (TSX:THO)(NYSE:TAHO) regrets to report that a security
patrol at the Escobal project in Guatemala was ambushed by armed
criminals shortly after midnight on January 12, resulting in the
deaths of two contract security guards. 
The Escobal security team repelled the attackers who left behind
numerous automatic weapons and incendiary devices. According to
Guatemala news reports a high-ranking government official close to
the investigation stated that this was not a local protest but an
organized, nighttime incursion by a well-armed group from outside the
area. This was one of three attacks against mining entities in
Guatemala during the week. 
"One of Tahoe's top priorities is the health and safety of its
employees, contractors and communities," said Tahoe President and CEO
Kevin McArthur. "Our workforce and entire management team are
devastated by the deaths and injuries that occurred on January 12. We
would like to express our deepest sympathies to the victims and their
families," he added. 
In the last year, numerous businesses have been subjected to
intimidation and violence from criminal elements intent on stopping
development. The Company thoroughly rejects the notion that these
unprovoked violent acts are justified and urges the Guatemalan
government to thoroughly investigate these crimes and protect human
rights and property interests in our local communities.  
Permitting & Project Update 
The final permit required for exploitation of the Escobal project was
not received in 2012 as anticipated. "The Company was notified by the
Guatemalan government in the first quarter of 2012 that all legal
requirements for approval of the exploitation license have been met.
The Guatemalan President and the Minister of Energy and Mines have
reassured us that the license is forthcoming," said Ron Clayton,
Tahoe's Chief Operating Officer. He added that the Company continues
to work closely with the government to complete this process and that
no delays to the project schedule are expected. 
As of December 31, 2012, the Engineering, Procurement and
Construction Management (EPCM) was 69% complete and underground
development was 70% complete. Mine activities are focused on
completion of the 1290 and 1265 level footwall laterals, primary
decline development to deeper mine levels, preparation of the initial
production stopes, development of ventilation, backfill and other
supporting infrastructure, and production miner training.  
Activities in the mill are focused on completing installation of
structural steel, mechanical equipment, electrical, piping and other
services. The Company expects to begin hiring and training process
plant employees by the end of the first quarter. 
Despite the events in the early morning hours of January 12,
construction and development work at Escobal continues. The project
remains on schedule for mill commissioning in the second half of 2013
and for commercial production in early 2014. 
About Tahoe Resources Inc.  
Tahoe's strategy is to develop the Escobal project into a profitable
mining operation and to position itself as a leading silver producer
with high quality, low cost assets in the Americas. Tahoe is a member
of the S&P/TSX Composite and TSX Global Mining indices and the
Russell 3000 on the NYSE. The Company is listed on the TSX as THO and
on the NYSE as TAHO. 
Forward-Looking Statements 
Tahoe Resources is a Canadian corporation operating in Canada, the
United States and Guatemala. This news release contains
"forward-looking information" within the meaning of applicable
Canadian securities legislation, and "forward-looking statements"
within the meaning of the United States Private Securities Litigation
Reform Act of 1995 (collectively referred to as "forward-looking
information"). Wherever possible, words such as "plans," "expects,"
or "does not expect," "budget," "scheduled," "estimates,"
"forecasts," "anticipate" or "does not anticipate," "believe,"
"intend," and similar expressions or statements that certain actions,
events or results "may," "could," "would," "might" or "will" be
taken, occur or be achieved, have been used to identify
forward-looking information. In particular, this news release
describes potential future events related to: receiving an
exploitation permit for Escobal; meeting the project schedule;
achieving mill commissioning in the second half of 2013 and
commercial production in early 2014; and Tahoe's strategy to develop
the Escobal project. Forward-looking information is based on
management's reasonable assumptions, estimates, expectations,
analyses and opinions which are based on management's experience and
perception of trends, current conditions and expected developments,
and other factors that management believes are relevant and
reasonable in the circumstances, but which may prove to be incorrect.
Assumptions have been made regarding, among other things, Tahoe's
ability to carry on exploration and development activities, the
timely receipt of required approvals (including the exploitation
permit for the Escobal project), the price of silver and other
metals, costs of development and production, Tahoe's ability to
operate in a safe, and effective manner and its ability to obtain
financing on reasonable terms.
Readers are cautioned that the foregoing list is not exhaustive.
Tahoe's actual results, programs and financial position could differ
materially from those anticipated in such forward-looking statements
as a result of numerous factors, risks and uncertainties, many of
which are beyond the Company's control. These include, but are not
necessarily limited to, results of exploration activities and
development of mineral properties, the interpretation of drilling
results and other geological data, the uncertainties of resource and
reserve estimations, receipt and security of mineral property titles,
receipt of licenses to conduct mining activities, country risks,
civil unrest, project cost overruns or unanticipated costs and
expenses, the availability of funds, fluctuations in metal prices,
currency fluctuations, and general market and industry conditions.
There is no assurance that forward-looking information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on this information. Tahoe
does not undertake to update any forward-looking information, except
as, and to the extent required by, applicable securities laws. For
more information about the risks and challenges of Tahoe's business,
investors should review Tahoe's current AIF available at
Tahoe Resources Inc.
Ira M. Gostin
Vice President Investor Relations
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