Pan American Silver To Acquire Tahoe Resources Inc.

VANCOUVER - "We are pleased to receive the positive recommendations from ISS and Glass Lewis, which reaffirm our strategic rationale for the Arrangement and the resulting benefits to shareholders," said Michael Steinmann, President Chief Executive Officer of Pan American. "We would like to thank all shareholders for their support in creating the world's premier silver mining company."

In reaching its conclusion, ISS noted that, "The Arrangement makes strategic sense as the acquisition of Tahoe and its Escobal Mine is expected to, upon restart of production, increase Pan American's silver production by approximately 80 percent, and give the company the largest silver reserves base and estimated highest gross margins of its peer group."

Glass Lewis noted in its report: "In our view, the merger represents a compelling opportunity to solidify Pan American's position as a leading silver company with an unrivaled collection of assets, best-in-class operational and financial metrics, and an experienced management team. Further, we believe the structure and terms of the transaction represent a reasonable price to pay given the expected strategic and financial benefits and the opportunity to enhance shareholder value."

Pan American Silver Corp. is the world's second largest primary silver producer, providing enhanced exposure to silver through a diversified portfolio of assets, large reserves and growing production. We own and operate six mines in Mexico, Peru, Argentina and Bolivia.