Revett Reaches Agreement to Restructure Debt



    SPOKANE VALLEY, WA, Aug. 25 /CNW Telbec/ - Revett Minerals Inc., Spokane
Valley, Washington ("TSX:RVM/OTCBB:RVMIF") ("Revett" or the "Company") has
signed an agreement with Trafigura AG to restructure a US $4.3 million
interest bearing note. Under the terms of the agreement, $1 million in
principal will be converted to equity through the issuance of 8.3 million
common shares of Revett Minerals at a price of US $.12 per share. Of the
principal remaining, a schedule of semi-annual repayments shall commence with
the first payment due no later than December 31, 2009 and the final balance to
be paid no later than June 30, 2012. Revett Minerals retains the right to
prepay the Note is whole or part at any time outside the repayment schedule
with 10 business days written notice.
    Additionally, Revett Minerals is granting detachable warrants giving
Trafigura the right to purchase as much as 10 million shares of the common
stock of Revett at a strike price of US $.20. Upon exercise of any number of
warrants allowed under the agreement the principal of the note shall be
reduced by an amount equal to the purchase price. Trafigura will also be
granted a right of first refusal (the ROFR) for a 10 year frame contract for
concentrates produced at Rock Creek providing the frame contract does not
jeopardize financing options for development of the project.
    John Shanahan, Revett President and CEO stated, "We are pleased to have
reached this agreement and appreciate Trafigura's vote of confidence. The
reduction and restructuring of the this debt comes at a crucial time and will
strengthen the Company's position for future growth"

    About Revett

    Revett Minerals, through its subsidiaries, owns and operates the
currently producing Troy Mine and development-stage Rock Creek Project, both
located in northwestern Montana, USA. The proven reserves at the Troy Mine and
significant resources at the Rock creek project will 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
    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 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 "plans", "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 the expectation of our ability to
finalize the debt restructuring agreement, expand production at the Troy mine
and expand through other means. There is no assurance our understanding will
be finalized into a definitive agreement. Actual results and developments
could be affected by development risks and production risks, our challenging
working capital position and our inability to continue to fund operations, as
well as those factors discussed in the section entitled "Risk Factors" in the
Form 10-K filed on SEDAR at www.sedar.com 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.
    %SEDAR: 00021518E




For further information:

For further information: Doug Ward, VP Corporate Development; Monique
Hayes, Corporate/Investor Communications, (509) 921-2294;
www.revettminerals.com

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REVETT MINERALS INC.

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