TAHOE RESOURCES INC. ANNOUNCES INITIAL PUBLIC OFFERING

Vancouver, British Columbia (May 3, 2010) – Tahoe Resources Inc. (Tahoe) is pleased to announce that it has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in connection with a proposed initial public offering (IPO) of its common shares. The underwriting syndicate for the offering is led by GMP Securities L.P. (sole bookrunner) and Genuity Capital Markets.

Tahoe is a start-up company that intends to acquire, explore and develop precious metals resource properties in the Americas. Tahoe has entered into an agreement to purchase the Escobal Silver Project in Guatemala from indirect, wholly owned subsidiaries of Goldcorp Inc. for total consideration of US$505 million, payable with a combination of a minimum of US$230 million in cash and 40% of the fully diluted number of issued Tahoe shares immediately following the closing of the IPO. The funds raised will be used for the cash portion of the Escobal purchase as well as for engineering studies and continuing exploration of the Escobal Project. Closing of the transaction is anticipated on or about June 8, 2010.

The Escobal Project is a recent Goldcorp discovery of high-grade silver, gold, lead and zinc mineralization with an Indicated Mineral Resource of 100M oz silver, based on 4,570,000 tonnes at a silver equivalent grade of 806 g/t and an Inferred Mineral Resource of 176M oz silver, based on 12,800,000 tonnes at a silver equivalent grade of 525 g/t. The Mineral Resources are calculated using 46,333 m of drilling in 175 holes (Source: Mineral Resource NI 43-101 Technical Report – AMEC Americas Ltd. dated April 30, 2010 which was prepared under the guidance of Mr. Greg Kulla, P.Geo. a Qualified Person). Tahoe plans to continue the ongoing exploration drilling program at the Escobal Project and will conduct metallurgical and engineering studies to evaluate potential development scenarios for the project.

“We are very excited to take this first step in building a leading silver company,” stated Kevin McArthur, Tahoe’s Chief Executive Officer. “Escobal is a great asset with outstanding potential for resource expansion.” Mr. McArthur added, “Over the past five months we have brought together a team of seasoned mining professionals and a board of directors with extensive experience in Latin America, and in Guatemala in particular. This focused management team, together with the Escobal Project, should enable Tahoe to deliver shareholder value.”

A copy of Tahoe’s preliminary prospectus will be available on the SEDAR website at www.sedar.com.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to United States persons absent registration or any applicable exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This release shall not constitute an offer to sell, or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Tahoe Resources
Tahoe is a start-up company that intends to acquire, explore and develop precious metals resource properties in the Americas. Under an agreement described in the preliminary prospectus, it has the right to acquire 100% of the Escobal Silver Project, a pre-development mining project in Guatemala, from Goldcorp Inc. Tahoe’s principal objective is to develop Escobal into a profitable silver operation. Tahoe’s overall strategy is to position itself as a leading silver producer with high quality assets in the Americas with low silver production costs, significant silver resources, a strong growth profile and no precious metals hedging.

Forward Looking Statement
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. 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. These forward-looking statements address future events and conditions, which are subject to various risks and uncertainties which are described in Tahoe’s Preliminary Prospectus that will be available for review at www.sedar.com. 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, many of which are beyond the Tahoe’s control. These factors include the availability of funds; the timing and content of work programs; 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; project cost overruns or unanticipated costs and expenses; fluctuations in metal prices; currency fluctuations; and general market and industry conditions.

Forward-looking statements are based on the expectations and opinions of Tahoe’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. For more information on Tahoe and the risks and challenges of its business, investors should review Tahoe’s Preliminary Prospectus available at www.sedar.com.

For further information, please contact:
Tahoe Resources Inc.
Ira M. Gostin, Business Director
igostin@tahoeresourcesinc.com

Tel: 775-825-8574 ext.225
Mobile: 775-771-1461
Fax: 775-562-8888