Revett Minerals Updates Reserve Estimates at the Troy Mine



    SPOKANE VALLEY, WA, Jan. 24 /CNW Telbec/ - Revett Minerals Inc. (RVM-TSX)
("Revett" or "the Company") is pleased to report that as a result of its 2007
exploration program and underground mine development work at the Troy Mine, it
has essentially replaced the reserves mined during the 2007 fiscal year. As at
December 31, 2007, the proven and probable reserves at the Troy Mine were
estimated at 13.2 million tons grading 1.18 ounces per ton silver and 0.54%
copper, containing an estimated 15.6 million ounces of silver and
142.6 million pounds of copper. This compares to the proven and probable
reserve estimate as at December 31, 2006 of 13.24 million tons grading 1.14
ounces per ton silver and 0.54% copper containing 15.1 million ounces of
silver and 142.5 million pounds of copper. As at December 31, 2007, the
estimated reserve life at the Troy Mine was approximately 7.5 years at current
forecasted production rates.

    The table below identifies the estimated reserves by area:

    
    -------------------------------------------------------------------------
        Area           Tons        Ag       Silver       Cu         Copper
                                  Grade     Ounces      Grade       Pounds
                                  (opt)                 (pct)
    -------------------------------------------------------------------------
    East Ore Body    3,484,695     1.48    5,165,330     0.56     38,766,694
    -------------------------------------------------------------------------
    North Ore Body   5,704,169     0.99    5,658,115     0.52     59,881,973
    -------------------------------------------------------------------------
    South Ore Body   2,901,512     1.03    2,983,283     0.54     31,571,602
    -------------------------------------------------------------------------
       C-Beds        1,105,677     1.61    1,783,206     0.56     12,344,410
    -------------------------------------------------------------------------
        Total       13,196,053     1.18   15,589,934     0.54    142,564,679
    -------------------------------------------------------------------------
    

    These reserves were calculated by Mr. Larry Erickson, P Eng., a Qualified
Person in accordance with National Instrument 43-101. Mr. Erickson is an
employee of the Troy Mine and is not considered to be independent of the
Company. An NSR cutoff of (US) $18.86 per ton has been used.
    Mr. William Orchow, President and CEO, stated "We are pleased that our
2007 program has been successful in identifying sufficient additional reserves
to replace those reserves mined during 2007. These new reserves came almost
entirely from the newly discovered "C-Beds" and contain higher grades of
silver and copper than the overall life of mine silver and copper grade
estimates. During 2008 we will continue to explore the "B and C Beds" in an
effort to identify additional mineralized material with the potential to
further increase reserves estimates in the future."


    William Orchow
    President & CEO


    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 the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements, including but not limited to those
with respect to the price of silver and copper, the estimation of mineral
reserves , the realization of mineral reserve estimates, the timing and amount
of estimated future production, costs of production, involve known and unknown
risks, uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, risks relating
to environmental laws and regulations, the actual results of current
exploration activities, actual results of current reclamation activities,
conclusions of economic evaluations, changes in project parameters as plans
continue to be refined, future prices of silver and copper, as well as those
factors discussed in the section entitled "Risk Factors" in the Annual
Information Forms on file with the Ontario Securities Commission and the Form
10 filed with the Securities and Exchange Commission. 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 as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements.
    %SEDAR: 00021518E




For further information:

For further information: Scott Brunsdon, CFO or Doug Ward, VP Corporate
Development, (509) 921-2294 or visit our website at www.revettminerals.com;
Renmark Financial Communications Inc.: Jason Roy: jroy@renmarkfinancial.com;
Maurice Dagenais: mdagenais@renmarkfinancial.com, (514) 939-3989, Fax: (514)
939-3717, www.renmarkfinancial.com

Organization Profile

REVETT MINERALS INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890