Revett Increases Silver and Copper Production

SPOKANE VALLEY, WA - John Shanahan, President and CEO of Revett Minerals said, "Our third quarter operating results were very positive, with notable increases in silver production of 25% and copper production of 22% over the second quarter. Net cash from operations continues to strengthen our balance sheet and provide a solid basis for the Company as we continue development and explorations activities at the Troy Mine to open more working areas and extend mine life."

During the third quarter, development efforts at the Troy Mine in Northwest Montana remained focused on the North C Bed Decline and access to the East Ore Body (Middle Quartzite).

Approximately 350 feet of development (of 1,650 feet in total) remains to be completed in the North C Bed drift. Once completed, a decline will be developed to access the I Bed zone which lies approximately 750 feet below the current C Bed workings. The revised I Bed development plan calls for a spiral decline from the North C Bed and is expected to be completed by the end of 2014 at a total cost of approximately $10 million dollars.

Development work by mining contractors to access the East Ore Body (Middle Quartzite) continues and is expected to be completed in the fourth quarter. Renewed production from the East Ore Body is expected to commence in first quarter 2013 after extensive ground support measures and a secondary escapeway have been completed.

Drilling immediately south of the current Troy Mine production areas continues to intersect copper/silver mineralization on trend with the Troy I Beds and JF Property targets. Drilling in the third quarter totaled 2,782 feet of core and results are pending detailed core logging and interpretation.

Directional drilling at the JF Property continued with 5,173 feet drilled in the third quarter and a total of 9,024 feet of core drilled year to date. Results of the drilling are also pending detailed core logging and interpretation.

A five year exploration plan for targets north and east of the Troy Mine has been submitted to the U.S. Forest Service and Montana DEQ. The plan is currently under review by the agencies.

The Corporate Reserve and Resource summary will be updated at year end with the expectation of extending the I Bed reserves at the Troy Mine.

Mill throughput and silver production improved significantly from the second quarter 2012, and grades and recoveries have returned to plan levels.

For the first nine months of 2012, net cash from operations was $18.5 million compared to $19.0 million for the first nine months of 2011. Net cash from operations for the third quarter ended September 30, 2012 was $7.5 million.

Mill throughput for the first nine months of 2012 averaged 3,680 tpd compared to 3,873 tpd for the first nine months of 2011. Third quarter 2012 throughput was 340,893 tons processed, averaging 3,788 tpd for the period.

Silver production for the first nine months of 2012 was 950,956 ounces, approximately 4% below production for the first nine months of 2011 of 990,590 ounces. Third quarter 2012 silver production totaled 348,194 ounces averaging throughput grades of 1.18 oz/ton.

Copper production for the first nine months of 2012 was 6,547,233 pounds, approximately 20% below production for the first nine months of 2011 of 8,299,188 pounds. Third quarter 2012 copper production totaled 2,361,915 pounds averaging throughput grades of 0.42%.

The company's address is 11115 East Montgomery, Suite G, Spokane Valley, WA 99206, (509) 921-2294.