Revett To Begin I-Bed Development

SPOKANE VALLEY, WA - Revett Minerals Inc. reported second quarter 2012 production results from its Troy Mine, located in northwest Montana. Currency is reported in United States dollars unless otherwise indicated.

Troy Mine Second Quarter, 2012 Operating Highlights include: For the first six months of 2012, net cash from operations was $11.0 million, a 3% increase over the first six months of 2011 net cash from operations of $10.7 million. Net cash from operations for the quarter ended June 30, 2012 was $3.5 million; Mill throughput for the first six months of 2012 averaged 3,626 tpd, approximately level with the first six months of 2011 of 3,621 tpd. Second quarter throughput was 317,486 tons processed, averaging 3,567 tpd for the period; Silver production for the first half of 2012 was 602,762 ounces, a 3% increase over the first six months of 2011 of 587,890 ounces. Second quarter silver production totaled 278,387 ounces averaging throughput grades of 1.02 oz/ton; Copper production for the first six months of 2012 was 4,185,318 pounds compared to 5,026,662 pounds of copper, a 17% decrease over the first six months of 2011. Copper production for the second quarter was 1,936,207 pounds averaging throughput grades of .37%; There were two lost time incidents reported during the second quarter. Our MSHA calculated Incidence Rate for the first six months of 2012 is 3.04 as compared to a national underground average for the first quarter of 2012 (latest available statistic) of 2.12. As at the end of June 2012, it has been 65 days, and 59,980 man hours worked since our last lost time accident.

Ongoing development of the North C-Bed access decline continued in the second quarter of 2012, advancing a total of 899 feet year to date, with 721 feet remaining. Following the completion of access to the North C-Bed ore body in September, I-Bed development will begin in October and is expected to take approximately two years with an estimated budget of $10 million dollars. In addition, work is being done to access reserves in the East Ore body and is progressing on schedule with grouting and steel set installation scheduled to be finished by early August.

Mill throughput for the first half of 2012 was approximately 9% below the previously announced guidance of 4,000 tpd due mainly to availability and retrofitting of underground equipment in the first quarter and extended spring rains and snow melt into late second quarter. Taking into consideration these adjustments and seasonal factors, along with slight variations of the mine work plan of 4,000 tpd for the remainder of 2012, production guidance for 2012 of 1.4 million ounces of silver and 11.5 million pounds of copper has been reduced to 1.325 million ounces of silver and 10.0 million pounds of copper.