Development At Troy Mine Is On Schedule

SPOKANE, WA - Revett Minerals Inc. reported ongoing exploration efforts, along with confirmation of existing data at the Troy Mine, have successfully illustrated reserves and resources, which will extend the life-of-mine to twelve years. These reserves fully replace the ore mined in 2012 and the approximately 1 million tons of ore reserves adversely impacted by restricted access due to known structural issues; and, by reduced metal pricing. The Company’s primary focus during 2014 and early 2015 will be on development of the North and South C Bed and I Bed orebodies. Exploration efforts will recommence in late 2015, which will further define I Bed mineralization east and south of current I Bed reserves and will focus on continuity and extension of the I Beds to the south.

Underground development at Troy continues on schedule and within budget. Since commencing the I Bed development drift in early November 2013, the Company has advanced approximately 2,250 feet in total as at January 31st, 2014. Preparations are now being made for the installation of the first borehole, which will serve as secondary egress and ventilation for development, and production of the C Beds. Development has now moved to dual drifting and will continue at an average grade of 12.5% until reaching the North C Bed, which is anticipated to be in the third quarter of 2014. The mill is scheduled to be restarted for limited commercial production in the fourth quarter of 2014.

The planned total of the development drifts to the North C Bed is approximately 7,500 feet (including muck bays and cross-overs). Continued development to access the I Beds requires an additional 5,900 feet of single decline with an accompanying borehole for secondary egress and ventilation. This development is expected to take six to nine months after the North C Bed orebody has been accessed. Once completed, Revett anticipates returning to full production capabilities at the Troy Mine. The total cost of the decline development is currently estimated to be approximately $12 million.

John Shanahan, Revett's President and CEO stated Our current underground development efforts continue to progress on schedule. We are particularly pleased with the structural integrity and competency of the development drift, which will support our current twelve year mine life. With continued exploration, we remain confident that we will continue to extend mine life at Troy. Being an efficient and safe operator at Troy is an important component of our development plans at Rock Creek. Being in operation at Troy in tandem with Rock Creek will enable us to fully utilize our operational experiences and attain the high level of responsible development that we are committed to.