SPOKANE VALLEY, WASHINGTON — (Marketwire) — 07/18/11 — Revett Minerals Inc. (TSX: RVM) (NYSE Amex: RVM) today announced second quarter 2011 production from its Troy Mine in northwestern Montana of 342,822 ounces of silver and over 3.03 million pounds of copper production, a 65% increase in silver and 60% increase in copper production over the same period last year and 40% increase in silver and 51% increase in copper from the first quarter of 2011. Silver and Copper grades along with metal recoveries also improved, primarily from an increased production from the C Bed area.
John Shanahan, President and Chief Executive Officer, said „We have seen significant improvements in ore production in the second quarter as we-re able to take advantage of our fully developed C Bed area, we are poised for continued production at planned levels in the third quarter of 2011. We also remain focused on our exploration and engineering efforts to add value, expand the mine life and realize the longer term potential of the Troy Mine.“
Highlights:
Rock Creek Litigation Update
Oral arguments were held in the U.S. Court of Appeals for the Ninth Circuit in Portland, Oregon on July 14th in litigation regarding Rock Creek Alliance, et al versus the U. S. Fish & Wildlife Service (USFWS). The USFWS and Revett prevailed in the Federal District Court on the issues related to the Endangered Species Act (ESA) in May of 2010 and the environmental groups have subsequently appealed that part of the District Courts ruling to the Ninth Circuit.
A recording of the oral arguments is available at the Ninth Circuit – s website
About Revett
Revett Minerals, through its subsidiaries, owns and operates the Troy Mine and development-stage Rock Creek Project, both located in northwestern Montana, USA. These projects host significant copper and silver mineral reserves and resources and form the basis of our plan to become a solid mid-tier base and precious metals producer. Revett plans on expanding production through exploration in and around its current properties, as well as through targeted business combinations of advanced stage projects.
John Shanahan, CEO & President
Except for the statements of historical fact contained herein, the information presented in this press release may contain „forward-looking statements“ within the meaning of applicable Canadian securities legislation and The Private Securities Litigation Reform Act of 1995. Generally, these forward looking statements can be identified by the use of forward-looking terminology such as „expects“, or „does not expect“, „is expected“, „is not expected“, „budget“, „plans“, „schedule“, „estimates“, „forecasts“, „intends“, „anticipates“, „or does not anticipate“ or „believes“ or variations of such words and phrases or state that certain actions, events or results „may“, „could“, „would“, „might“ or „will“, „occur“ or „be achieved“. Forward-looking statements contained in this press release include but are not limited to statements with respect to, anticipated grades and production at the Troy Mine, extending the life of mine at Troy Mine and anticipated production of the C-bed. Actual results and developments could be affected by development risks and production risks, , as well as those factors discussed in the section entitled „Risk Factors“ in the Form 10-K filed on SEDAR at and with the SEC on EDGAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Revett Minerals does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
Contacts: Revett Minerals Inc. Monique Hayes Corporate Secretary/Director Investor Relations (509) 921-2294
Revett Minerals Inc. Ken Eickerman CFO (509) 921-2294
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