Revett Minerals Inc.

Revett Minerals Inc.

September 05, 2013 08:30 ET

Revett Minerals Inc. Troy Mine Update

SPOKANE VALLEY, WASHINGTON--(Marketwired - Sept. 5, 2013) - Revett Minerals Inc. (NYSE MKT:RVM)(TSX:RVM) is pleased to provide a status update on efforts to re-establish access to mining areas in the A and C Beds via the Lower Quartzite haulage route at its Troy Mine in northwest Montana.

Since the suspension of underground activities in December 2012, Revett has continued to monitor conditions underground and has undertaken efforts to identify a viable and safe route back into the previously established mining areas. Operating crews have recently completed the D Drive development into the southeast stope of the previously-mined Lower Quartzite ore zone within the North Ore Body. Yesterday afternoon, our operating team, along with our geotechnical consultant and an MSHA representative were able to inspect an area extending approximately 400 feet south of the D Drive to current water levels. Initial observations reveal safe travel conditions to this point. Over the next 30 to 60 days, the Company will continue to dewater and inspect further to the south to ensure this route meets our operating standards. If assessments and inspections continue to indicate no further structural damage at the Lower Quartzite level, then the Company could possibly resume mining operations as early as the fourth quarter of 2013.

John Shanahan, Revett's President and CEO stated "We are pleased to confirm that the D Drive is indeed viable. We remain cautiously optimistic that the remainder of this access route will meet our standards of safety, but we cannot be categorically sure until all inspections are complete. Our commitment to getting the Troy Mine back into operation has not wavered, nor has our commitment to the safety of our employees."

About Revett

Revett, through its subsidiaries, owns and operates the Troy Mine in Lincoln County, Montana and development-stage Rock Creek Project located in Sanders County, Montana, USA. The proven reserves at the Troy Mine and significant resources at the Rock Creek project form the basis of our plan to become a premier 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 news 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 "plans", "expects", or "does not expect", "is expected", "is not expected", "budget", "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 be taken", "occur" or "be achieved". Forward-looking statements contained in this news release include statements relating to the estimated time to complete dewatering and inspections and the possible resumption of mining operations in the fourth quarter of this year and the Company's expectation that it will be back in operation. Actual results will depend upon the results of the assessments conducted of the Lower Quartzite and whether further structural damage is discovered, the views of MSHA and decisions made by management having regard to the nature of the geotechnical conditions and the safety of Revett's employees. Forward looking statements, are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business and economic uncertainties, risks and contingencies and 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 except as required by applicable securities laws.

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