TAHOE RESOURCES INC. CLOSES C$351,931,657 BOUGHT DEAL FINANCING

Vancouver, British Columbia – December 23, 2010 – Tahoe Resources Inc. (“Tahoe” or the “Company”) is pleased to report today that the Company has closed its previously announced bought deal financing of 24,959,692 common shares (which includes the exercise in full of the over-allotment option of 3,255,612 common shares) at a price of C$14.10 per common share for aggregate gross proceeds to the company of C$351,931,657.

The common shares were sold pursuant to an underwriting agreement with a syndicate of underwriters led by GMP Securities L.P., and including BMO Capital Markets, Canaccord Genuity Corp., CIBC World Markets Inc., Merrill Lynch Canada Inc., RBC Capital Markets, Dundee Securities Corporation and TD Securities Inc.

Goldcorp Inc. has subscribed for 10,285,692 common shares in order to maintain its ownership position of 41.2%.

The net proceeds from the offering will be used for ongoing work at the Escobal Project, including feasibility study work, baseline studies and environmental documentation, permitting for full mine operations, underground exploration declines, and mine construction, to carry out potential acquisitions and for general working capital purposes.

The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, sale or solicitation would be unlawful.

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 expects to close the year with approximately $425 million in cash and no debt.It anticipates no further financing needs prior to developing the Escobal Project into a commercial mining operation. Additional information can be found on Tahoe’s website: www.tahoeresourcesinc.com.

Tahoe’s shares are traded on the Toronto Stock Exchange under the symbol THO.

Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation, which is also referred to as “forward-looking statements.” 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 future events and conditions related to Tahoe’s plans for development of the Escobal Project into a commercial mining operation. Forward-looking information is based on management’s reasonable assumptions, estimates, expectations, analyses and opinions on the date of this news release. These 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, the price of silver and other metals and Tahoe’s ability to operate in a safe, efficient and effective manner. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. 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 Company’s control. These factors include, but are not necessarily limited to, results of exploration and development activities, the interpretation of drilling results and other geological data, the uncertainties of mineral resource and mineral reserve estimations, receipt and security of mineral property titles, receipt of licenses to conduct mining activities, country risks, 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 prospectus dated December 17, 2010 available at www.sedar.com.

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For further information, please contact:
Tahoe Resources Inc.
Ira M. Gostin, Business Director
investors@tahoeresourcesinc.com
Tel: 775-448-5807
Mobile: 775-771-1461
Fax: 775-562-8888

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