SOURCE: Revett Minerals Inc.

December 22, 2010 09:11 ET

Revett Provides Operational Guidance for 2011

SPOKANE VALLEY, U.S.A.--(Marketwire - December 22, 2010) - Spokane Valley, Washington December 22, 2010; Revett Minerals Inc. ("Revett" or the "Company") (TSX:RVM/OTCBB:RVMIF) is pleased to issue 2011 operational guidance for production from its Troy silver and copper mine in northwestern Montana.

Production at the Troy Mine is expected to be approximately 1.3 million ounces of silver and 11.0 million pounds of copper for 2011. Based on the current mine plan, mill throughput is anticipated to average 4,000 tons per day and grades are expected to improve averaging 1.20 ounces per ton silver and 0.46% copper as more production is gained from the recently developed C Bed area. Production costs on a net of byproduct basis are expected to be $3.32 per ounce of silver and $1.48 per pound of copper and on a co-product basis costs are estimated to be $10.39 per ounce of silver and $2.08 per pound of copper.

Ensuring around 75% of Company's operating costs are covered, Revett has hedged approximately 25% of its 2011 estimated silver production at US$19.00 per ounce and 50% of its estimated copper production at US$3.55 per pound The remaining 75% of silver and 50% of copper production enables the Company to fully capitalize on higher metal prices

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 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

For more information, please contact:

Monique Hayes, Corporate/Investor Communications 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 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 production costs, improved grades and increased production from the C-bed area. Actual results and developments could be affected by development risks and production risks, 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.

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Revett Minerals Inc. via Thomson Reuters ONE


Contact Information

  • For more information, please contact:

    Monique Hayes
    Corporate/Investor Communications
    (509) 921-2294
    or visit our website at