Troy Mine To Produce 1.4M Ag And 11.5M Pounds Cu 

SPOKANE VALLEY, WA - Revett Minerals Inc. reported production at the Troy Mine, in Montana, is expected to be approximately 1.4 million ounces of silver and 11.5 million pounds of copper for 2012. Based on the current mine plan, mill throughput is anticipated to average 4,000 tons per day and grades are expected to average around 1.15 ounces per ton silver and 0.47% copper. Production costs on a net of byproduct basis are estimated to be US$4.89 per ounce of silver and US$1.54 per pound of copper and on a co-product basis costs are estimated to be US$13.79 per ounce of silver and US$2.24 per pound of copper.

Revett has hedged approximately 25% of its 2012 copper production at US$4.00 per pound. Development work in the I-Bed area is scheduled to begin in August of 2012 following minor permit revisions and will continue for approximately 24 months with an estimated budget of US$15M. Although the total I Bed development is expected to take approximately 24 months to access reserves in the South Ore Body, it is anticipated mineralization will be encountered in the North Ore Body that may be economic for ore processing in late 2012 or by mid-year 2013. The Company will utilize a dedicated in-house development crew to drive the twin access declines that will provide for both ventilation and a secondary escapeway. Completion of this development work will provide a key component of the extended mine life at Troy.