Revett Minerals Inc.

Revett Minerals Inc.

March 17, 2005 09:22 ET

Revett Minerals Inc.-Emerging Silver/Copper Producer


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: REVETT MINERALS INC.

TSX SYMBOL: RVM

MARCH 17, 2005 - 09:22 ET

Revett Minerals Inc.-Emerging Silver/Copper Producer

SPOKANE, WASHINGTON--(CCNMatthews - March 17, 2005) - Revett Minerals
Inc. (TSX:RVM)

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES.

Revett Minerals Inc. would like to provide this brief corporate profile
for investors whom may be unfamiliar with our business.

Revett Minerals Inc. was incorporated in August of 2004. In association
with its initial public offering in February 2005, in which gross
proceeds of Cdn $34.5 million was raised including the exercise of an
over-allotment option, the company acquired a 65% holding in Revett
Silver Company, a private U.S. company. Revett Silver owns 100% of two
substantial silver/copper assets located in northwestern Montana, USA;
the Troy Mine, and the Rock Creek development project. The remaining 35%
of Revett Silver's outstanding shares are held by the original
shareholders.

Troy Mine

Revett Silver acquired the Troy Mine in 1999. In April 2004, the company
decided to place the mine back into production after a 12 year period of
care-and-maintenance. Production commenced in December 2004 and will
ramp up through the 2nd quarter of 2005 as new mining equipment is
delivered, with expected production for the year totaling 2.8 million
ounces of silver, and 23.4 million pounds of copper. At full production,
the mine is expected to average 3.2 million ounces of silver, and 26
million pounds of copper per year.



Troy Reserves
--------------------------------------------------------------------
Silver Copper Contained Contained
Classification Tons Grade Grade Silver Copper
(31 Dec 2004) (M tons) (oz/ton Ag) (% Cu) (Moz Ag) (Mlbs Cu)
--------------------------------------------------------------------
Proven & Probable 8.7 1.57 0.65% 13.6 113
--------------------------------------------------------------------
1. Mineral Reserves have been categorized in accordance with the
classifications defined by the Canadian Institute of Mining,
Metallurgy and Petroleum.
2. Using a cut-off grade of US$12 net smelter return per ton.
3. The estimated mineral reserves are based upon a technical report
(the " Troy Report") dated August 16, 2004, amended as of
January 27, 2005, prepared by SRK Consulting, Toronto ("SRK")
in accordance with National Instrument 43-101 ("NI 43-101").


Although the current mine plan at Troy calls for an approximate 3 1/2
year life, additional resources in the mine may extend the life by at
least 2 more years.

Rock Creek Project

Revett Silver acquired Rock Creek in 1999 and completed the permitting
related work initiated in 1987 by the prior operator, ASARCO Inc.
Mineral patents (title ownership) were granted in 1989, with the Final
Environmental Impact Statement ("EIS") being released jointly by the
U.S. Forest Service ("USFS") and Montana Department of Environmental
Quality ("MDEQ") in August 2001. Based on the findings in the EIS, as
well as additional agency work and review, a positive Record of Decision
("ROD") was issued by the USFS and MDEQ to Revett Silver in June 2003.
This allows the company to proceed with evaluation and development of
the project as proscribed in the ROD.

The first phase of development will commence in the spring of 2005, with
the objective of producing a technical and economic feasibility study by
early 2007. Presuming a positive feasibility study, and the receipt of
necessary construction permits and financing, Revett intends to develop
Rock Creek as a 10,000 ton per day underground mine with a conventional
mineral flotation processing facility, and estimated annual production
of 7 million ounces of silver, and 54 million pounds of copper.



Rock Creek Resource
-----------------------------------------------------------------
Silver Copper Contained Contained
Classification Tons Grade Grade Silver Copper
(31 Dec 2004) (M tons) (oz/ton Ag) (% Cu) (Moz Ag) (Mlbs Cu)
-----------------------------------------------------------------
Inferred 137 1.67 0.72% 229 2,022
-----------------------------------------------------------------
1. Mineral Reserves have been categorized in accordance with the
classifications defined by the Canadian Institute of Mining,
Metallurgy and Petroleum.
2. Using a cut-off grade of US$10 net smelter return per ton.
3. The estimated mineral reserves are based upon a technical report
(the "Rock Creek Report") dated May 7, 2004, amended as of
January 27, 2005, prepared by SRK Consulting, Toronto ("SRK")
in accordance with NI 43-101.


Further information on Revett Minerals Inc., as well as the Troy Mine
and Rock Creek Project, may be found at www.sedar.com. The National
Instrument 43-101 reports for Troy and Rock Creek were prepared on
behalf of the Company by Jean-Francois Couture, P.Geo. and Ken Reipas
P.Eng. of SRK Consulting (Canada) and they are qualified persons under
N.I. 43-101.

William Orchow, President & CEO

The securities offered have not been, and will not be, registered under
the United States Securities Act of 1933, as amended, ("U.S. Securities
Act") or any state securities laws and, unless registered under the U.S.
Securities Act or pursuant to an applicable exemption from registration
under the U.S. Securities Act, may not be offered, sold, reoffered,
resold or delivered, directly or indirectly, in the United States or to
U.S. Persons (as defined in Regulation S under the U.S. Securities Act).
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any such state.

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 the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements, including but not
limited to those with respect to the price of silver and copper, the
estimation of mineral reserves and resources, the realization of mineral
reserve estimates, the timing and amount of estimated future production,
costs of production, involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of the Company to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, risks
relating to environmental laws and regulations, the actual results of
current exploration activities, actual results of current reclamation
activities, conclusions of economic evaluations, changes in project
parameters as plans continue to be refined, future prices of silver and
copper, as well as those factors discussed in the section entitled "Risk
Factors" in the Final Long-From Prospectus as on file with the Ontario
Securities Commission. 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 as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Revett Minerals Inc.
    Scott Brunsdon
    CFO
    (509) 921-2294
    or
    Revett Minerals Inc.
    Doug Ward
    VP Corporate Development
    (509) 921-2294
    (509) 891-8901 (FAX)
    www.revettminerals.com