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|FORM 52-109F1                  
|-------------------------------
|CERTIFICATION OF ANNUAL FILINGS
|FULL CERTIFICATE               

I, C. Kevin McArthur, Vice Chair and Chief Executive Officer of
Tahoe Resources Inc., certify the following:

|1. | Review:I have reviewed the AIF, if any,
      annual financial statements and annual MD&A, including, for greater
      certainty, all documents and information that are incorporated by
      reference in the AIF (together, the annual filings) of Tahoe Resources
      Inc. (the issuer) for the financial year ended December 31,
  2013.                                                                  
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|   |                                                                                                                                                                                                                                                                                                                                                                                                                       
|2. | No misrepresentations:Based on my
      knowledge, having exercised reasonable diligence, the annual filings do
      not contain any untrue statement of a material fact or omit to state a
      material fact required to be stated or that is necessary to make a
      statement not misleading in light of the circumstances under which it was
      made, for the period covered by the annual filings.       
|   |                                                                                                                                                                                                                                                                                                                                                                                                                       
|3. | Fair presentation:Based on my knowledge,
      having exercised reasonable diligence, the annual financial statements
      together with the other financial information included in the annual
      filings fairly present in all material respects the financial condition,
      financial performance and cash flows of the issuer, as of the date of and
      for the periods presented in the annual filings.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                       
|4. | Responsibility:The issuers other
      certifying officer and I are responsible for establishing and maintaining
      disclosure controls and procedures (DC&P) and internal control over
      financial reporting (ICFR), as those terms are defined in National
      Instrument 52-109 Certification of Disclosure in Issuers Annual and
      Interim Filings, for the issuer.                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                       
|5. | Design:Subject to the limitations, if any,
      described in paragraphs 5.2 and 5.3, the issuers other certifying officer
      and I have, as at the financial year end                                                                                                                                                                                                                                            

| | (a) | designed DC&P, or caused it to be designed under our
      supervision, to provide reasonable assurance
that
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| | (i)  | material information relating to the issuer is made known
      to us by others, particularly during the period in which the annual
      filings are being prepared; and                                                                                                                                
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| |      |                                                                                                                                                                                                                                                                                                          
| | (ii) | information required to be disclosed by the issuer in its
      annual filings, interim filings or other reports filed or submitted by it
      under securities legislation is recorded, processed, summarized and
      reported within the time periods specified in securities legislation;
      and

| | (b) | designed ICFR, or caused it to be designed under our
      supervision, to provide reasonable assurance regarding the reliability of
      financial reporting and the preparation of financial statements for
      external purposes in accordance with the issuers
GAAP.
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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|5.1 | Control framework:The control framework
      the issuers other certifying officer and I used to design the issuers
      ICFR is the Internal Control  Integrated Framework(COSO
      Framework) published by The Committee of Sponsoring Organizations of the
      Treadway Commission (COSO).
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|    |                                                                                                                                                                                                                                                                                                      
|5.2 | N/A                                                                                                                                                                                                                                                                                                
|    |                                                                                                                                                                                                                                                                                                      
|5.3 | N/A                                                                                                                                                                                                                                                                                                
|    |                                                                                                                                                                                                                                                                                                      
|6.  | Evaluation:The issuers other certifying
      officer and I have                                                                                                                                                                                                                                    

| | (a) | evaluated, or caused to be evaluated under our
      supervision, the effectiveness of the issuers DC&P at the financial
      year end and the issuer has disclosed in its annual MD&A our
      conclusions about the effectiveness of DC&P at the financial year end
      based on that evaluation; and
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                             
| | (b) | evaluated, or caused to be evaluated under our
      supervision, the effectiveness of the issuers ICFR at the financial year
      end and the issuer has disclosed in its annual
MD&A                                                                                                                    

| | (i)  | our conclusions about the effectiveness of ICFR at the
      financial year end based on that evaluation; and
| | ---- | -------------------------------------------------------------------------------------------------------------
| |      |                                                                                                              
| | (ii) | N/A.                                                                                                       

|7. | Reporting changes in ICFR:The issuer has
      disclosed in its annual MD&A any change in the issuers ICFR that
      occurred during the period beginning on October 1, 2013 and ended on
      December 31, 2013 that has materially affected, or is reasonably likely to
      materially affect, the issuers ICFR.                                                                                                           
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|   |                                                                                                                                                                                                                                                                                                                                                                                                                                    
|8. | Reporting to the issuers auditors and board of
      directors or audit committee:The issuers other certifying
      officer and I have disclosed, based on our most recent evaluation of ICFR,
      to the issuers auditors, and the board of directors or the audit
      committee of the board of directors any fraud that involves management or
      other employees who have a significant role in the issuers
  ICFR.

|Date: March 14, 2014                   | 
|-------------------------------------- | 
|                                       | 
|                                       | 
|/s/ Kevin McArthur                     | 
|C. Kevin McArthur                      | 
|Vice Chair and Chief Executive Officer | 

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