Revett Provides Update on Troy Mine

SPOKANE VALLEY, WA - Revett Minerals Inc. reported an update on underground activities at its Troy Mine, in Montana, along with an update of year-end 2012 reserve and resource estimates.

The Company recently completed underground travel-way inspections from the South Adit. The inspections, in coordination with MSHA and a Revett geotechnical consultant, confirmed groundfall along a portion of the main haulage route approximately 3,000 feet from the South Adit entrance. Based on information gathered to date, a connecting drive from a northeastern stope of the North Orebody to a southeastern stope in the Lower Quartzite is currently being developed and will allow for further inspections of the mine and planning of alternate haulage and utilities routes. The Company has continued to scale and dewater sections of the North Orebody from the Service Adit and has regained access to portions of the Lower Quartzite haulage route which remains operable. The new connecting drive and ongoing inspections are expected to be completed this month.

The Company is currently following a plan to safely resume production, including development of a secondary escape-way and rerouting of utilities which we believe will lead to commercial operations recommencing by early April 2013. Should the Company discover structural damage in the Lower Quartzite haulage route, alternative access routes may need to be considered. The Company will provide an update if structural damage is discovered in the Lower Quartzite haulage route or other factors that hinder the Company's ability to meet the timeline currently being proposed.

John Shanahan, Revett's President and CEO stated "We are pleased that our assessments to date of the North Orebody, which is our main production mining area, indicate that it is largely unaffected by recent structural ground issues. Regaining full and safe access to these areas and developing new haulage and regress routes will be our prime focus over the coming 8-10 weeks. The South Orebody remains somewhat problematic, and we will have limited access in that area in the immediate future.

Troy Exploration and Reserve Highlights: Replaced 100% of reserves mined in 2012 including additions in the South Ore Body I Bed, resulting in an eight year life of mine as of December 31, 2012; Identified additional exploration drill targets through recent drilling on the southern and eastern extensions of I Bed; Continued exploration planned in 2013; and Discovered additional anomalous mineralization in the I Bed beneath the North Ore Body and East Ore Body.

Exploration efforts at the Troy Mine during 2012 have successfully replaced the ore mined in 2012 thus increasing mine life to eight years, utilizing the current mine plan and forecasted economics. The Company intends to continue exploration adjacent to current mining areas which will further define the continuity of the deeper I Bed mineralization east and south of known mineralization. The program is designed with the intention of extending the current mine life and production. Targets for 2013 exploration will also focus on mineralization trends (in addition to I Bed level) to the south and east of the Troy Mine within our extensive claim blocks. The goal is to optimize production through the existing Troy Mine infrastructure.