Revett Minerals Inc.

Revett Minerals Inc.

July 05, 2005 13:22 ET

Revett Minerals Reports Activities at Rock Creek Are Progressing

SPOKANE, Wash.--(CCNMatthews - Jul 5, 2005) -

Revett Minerals Inc. (TSX:RVM) ("Revett" or "the Company") advises that the Company has had ongoing discussions with the United States Fish and Wildlife Service ("USFWS") regarding the status of the Biological Opinion and more specifically what improvements can be made with regard to the grizzly bear and bull trout mitigation plans. Revett still expects that the USFWS will re-issue the Biological Opinion within a month or two. The Company remains confident work will shortly begin at Rock Creek and it is progressing well on fulfilling the mitigation requirements contained in the Record of Decision including finalizing land purchases required for grizzly bear habitat. In July, the Company will submit an updated Operating Plan for the Evaluation Adit to the US Forest Service and Montana Department of Environmental Quality as required by the Record of Decision. Completion of these activities concurrent with re-issuance of the Biological Opinion should allow the Company to proceed with the Evaluation Adit.

In June 2005, a group of plaintiffs, comprised of participants similar to those participating in past legal and administrative challenges, filed suit against the U.S. Forest Service challenging the 2003 Record of Decision ('ROD") issued for the Rock Creek project. The issues raised in this new challenge are similar to the issues raised in the previous administrative appeal of the granting of the ROD. This administrative appeal was denied without merit by the U.S. Forest Service. Revett will petition the courts to intervene in this case. The Company believes that because many of these issues have already been decided in favor of the project, a similar outcome is likely.

Revett, through its subsidiary RC Resources, is also pleased to announce it has awarded contracts to SRK Consulting Inc. and SNC Lavalin Engineers and Constructors Inc. for scoping studies on the Rock Creek project. These studies will evaluate the entire project including the preparation of a detailed mine plan, review and preliminary design of the processing facilities, evaluation of the use of tailing paste for both surface and underground deposition, review of water treatment plans and an updating of capital and operating cost estimates. A detailed review of the Evaluation Adit work program will be undertaken including the development drilling plans and the proposed metallurgical test work. This scoping study will expedite the final feasibility study to commence upon completion of the Evaluation Adit and should be completed by the fourth quarter of 2005.

Troy Mine

Through May 2005, the Troy Mine has processed 343,195 tons of ore grading 1.84 ounces per ton silver and 0.79 percent copper. Delays in equipment deliveries and slower than expected rehabilitation of mining areas has resulted in production ramping up slower than expected. The Company expects the Troy Mine to be at planned production levels during the third quarter.

An exploration plan has been developed for the Troy Mine and adjacent areas. Drilling is expected to begin in July with the first priority given to areas within the mine. Work on adjacent properties will consist mainly of field mapping and review of existing data although some drilling is possible if warranted by field review. A preliminary review of the JF property located to the south of the mine indicates the potential for significant mineralization with silver and copper grades expected to be similar to Troy.

Results of the Annual General Meeting

Revett Minerals held its Annual and Special Meeting of Shareholders on June 16, 2005. At that meeting, a total of 28,737,398 votes were cast (50.2% of the total outstanding). The existing five directors being; John Shanahan, David Lewis, John Hick, Daniel Tellechea Salido and William Orchow were re-elected as directors until the next annual general meeting by a vote of 99.5% in favour. The Company's auditors being, KPMG LLP, were also re-elected in a unanimous vote and finally, the shareholders voted to retain the Company's Shareholders' Rights Plan with 71.8% voting in favour of the Plan. The Company wishes to thank all shareholders who participated in the meeting.

About Revett

Revett Minerals, through its subsidiaries, owns both the Rock Creek Project and the Troy Mine located in northwest Montana. Rock Creek is an inferred resource containing an estimated 136.6 million tons grading 1.67 ounces silver per ton and 0.72% copper; containing approximately 229 million ounces of silver and over 2 billion pounds of copper using a net smelter return cut off grade of US $10.00 per ton. Further information on both the Troy Mine and the Rock Creek Project may be found in the applicable National Instrument 43-101 reports at These reports were prepared on behalf of the Company by Jean-Francois Couture, P.Geo. and Ken Reipas P.Eng. of SRK Consulting (Canada), both of whom are qualified persons under National Instrument 43-101.

All of these issues are discussed in greater detail in the Company's official filings at

"William Orchow"

President and CEO

For more information, please contact:

Scott Brunsdon, CFO or Doug Ward, VP Corporate Development at 509-921-2294 or visit our website at

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-Form Prospectus 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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