Revett Minerals Inc.
OTC Bulletin Board : RVMIF

Revett Minerals Inc.

September 29, 2010 08:00 ET

Revett Announces Completion of "C-Bed" Access at the Troy Mine

SPOKANE VALLEY, WASHINGTON--(Marketwire - Sept. 29, 2010) - Revett Minerals Inc. ("Revett" or the "Company") (TSX:RVM)(OTCBB:RVMIF) is pleased to announce that contractor Small Mines Development (SMD) has demobilized and completed the access to the "C-Bed" area at the Troy Mine. SMD initiated the 3,100 foot decline in February of 2010 and has completed the project on time and on budget.

While limited production from the higher grade "C-Beds" began this month, higher throughput from the C-Bed area will be brought into the production mix at the beginning of the 4th quarter of this year. Located approximately 370 feet below current workings at the Troy Mine, the "C-Beds" contain approximately 1.9 million oz silver and 13.7 million lbs copper (ore grades averaging 1.61 opt Ag and 0.56% Cu). The table and illustration below identify the approximate location and estimated probable reserves of the "C-Beds", which are part of the overall reported reserves at the Troy Mine.

C-Bed Reserves (November 12, 2009) Grades Contained Metals
Classification(1) Tons (st)(2,3) Silver (opt) Copper (%) Silver (Moz) Copper (Mlbs)
Probable 1,228,530 1.61 0.56 1.9 13.7
1. Mineral Reserves have been categorized in accordance with the classifications defined by the Canadian Institute of Mining, Metallurgy, and   Petroleum ("CIMM").
2. Does not include resources contained in planned pillars.  Only material scheduled to be extracted and milled included.
3. The estimated mineral reserves were calculated by Mr. Larry Erickson, P Eng., a Qualified Person ("QP") in accordance with Canadian National Instrument 43-101 ("NI 43-101"). They are stated using a cut-off grade of US$ 20.02 net smelter return per ton calculated at US$ 12.00/oz Ag and US$2.25/lb Cu. Mr. Erickson is an employee of Revett and is not considered independent.

To view a figure of the Troy Mine, please visit the following link:

John Shanahan, President and CEO stated, "The opening of the C-Bed mineralized production zone is a major step forward for Revett. We are pleased with the successful completion of access to this new area which gives us the confidence for continued exploration efforts into other nearby areas. Being able to complete this project on time and within budget is a testimony to both the men and women of the Troy mine and SMD."

About Revett

Revett Minerals, through its subsidiaries, owns and operates the currently producing Troy Mine and development-stage Rock Creek Project, both located in northwestern Montana, USA. The proven reserves at the Troy Mine and significant resources at the Rock Creek project will form the basis of our plan to become a solid mid-tier base and precious metals producer. Revett plans on expanding production through exploration in and around its current properties, as well as through targeted business combinations of advanced stage projects.

John Shanahan, President & CEO

Except for the statements of historical fact contained herein, the information presented in this press release may contain "forward–looking statements" within the meaning of applicable Canadian securities legislation and The Private Securities Litigation Reform Act of 1995. Generally, these forward looking statements can be identified by the use of forward-looking terminology such as "expects", or "does not expect", "is expected", "is not expected", "budget", "plans", "schedule", "estimates", "forecasts", "intends", "anticipates", "or does not anticipate" or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will ", "occur" or "be achieved". Forward-looking statements contained in this press release include but are not limited to statements with respect to, anticipated grades and production at the Troy Mine, higher throughput from the "C-beds in the forth quarter of 2010 and statements regarding the Company's plans to expand production through exploration in and around its current properties, as well as through targeted business combinations of advanced stage projects. Actual results and developments could be affected by development risks and production risks, and our inability to continue to fund operations, as well as those factors discussed in the section entitled "Risk Factors" in the Form 10-K filed on SEDAR at and with the SEC on EDGAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Revett Minerals does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

Contact Information

  • Revett Minerals Inc.
    Doug Ward
    VP Corporate Development
    (509) 921-2294
    Revett Minerals Inc.
    Monique Hayes
    Corporate/Investor Communications
    (509) 921-2294