SPOKANE VALLEY, WA, April 17 /CNW Telbec/ - Revett Minerals Inc.,
("TSX-RVM") ("Revett" or the "Company") is pleased to announce that Silver
Wheaton has exercised its participation right to acquire 3,855,558 Revett
Minerals common shares.
In connection with the recent exchange of 20,553,500 Revett Silver Class
B common shares for Revett Minerals common shares, Silver Wheaton has taken up
a portion of its pro-rata share of Revett Minerals common shares under the
Participation Rights Agreement dated November 22, 2006. Revett Minerals now
has 109,014,696 shares outstanding, of which, Silver Wheaton owns 16.4%.
John Shanahan, President and CEO, commented "We are pleased that Silver
Wheaton continues to stand behind Revett Minerals as we advance our long term
goals of increasing production at the Troy Mine and advancing the exploration
stage Rock Creek project."
Other Corporate Updates
John Shanahan, previously appointed as interim President and CEO on
September 10, 2008, has accepted the position on a permanent basis.
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. These projects host significant copper
and silver mineral reserves and resources and 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.
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. Although Revett Minerals 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.
For further information:
For further information: Doug Ward, VP Corporate Development; Monique
Hayes, Corporate/Investor Communications, (509) 921-2294;