Revett Minerals Inc.

Revett Minerals Inc.

September 26, 2011 09:05 ET

Revett Minerals Provides Hedging Update

SPOKANE VALLEY, WASHINGTON--(Marketwire - Sept. 26, 2011) - Revett Minerals Inc. (TSX:RVM) (NYSE Amex:RVM) is pleased to provide an update on its recently initiated 2012 copper hedging program.

For 2012, the company has sold forward approximately 25% of forecast copper production at US$4.00 per lb. This transaction, for 100 metric tons per month, is for copper contained in concentrates produced at our Troy mine from January to December 2012.

For the fourth quarter of 2011, under a previously announced program, the company has sold forward approximately 50% of forecast copper production at US$3.55 per lb and approximately 25% of silver at US$19.00 per ounce. This transaction, for 200 metric tons and 30,000 ounces per month respectively, is for metal contained in concentrates produced at our Troy mine from October to December 2011.

John Shanahan, President and CEO, stated "Whilst we believe that copper and silver prices will remain strong in the longer term, the ability to lock away some copper at $4.00 per lb for 2012 will support our efforts in commencing development of the I Beds at Troy in 2012. We believe our ability to prudently manage short term commodity price risk is an important component in our overall goal of fully utilizing our reserves and resources at Troy which in turn forms an important cornerstone in financing and developing Rock Creek".

About Revett

Revett, through its subsidiaries, owns and operates the currently producing 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 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 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", "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" be taken, "occur" or "be achieved". Forward-looking statements contained in this news release include but are not limited to those with respect to the price of copper and silver remaining strong in the longer term, the expectation that hedging will support our efforts in commencing development of the I Beds at Troy in 2012 and our belief that hedging may contribute to our goals at Troy, and in turn, our goals at Rock Creek. Forward looking statements are subject to known and unknown risks, uncertainties and other factors. Actual prices of copper and silver in the longer term will be affected by a number of global economic factors. Development of the I Beds and Rock Creek are subject to development risks as well as those other factors discussed under "Rick 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 in accordance with applicable securities laws.

Contact Information