Revett Minerals Reports Strong Operating and Financial Results for the Three and Six Months Ended June 30, 2007.



    SPOKANE VALLEY, WA, Aug. 13 /CNW Telbec/ - Revett Minerals Inc.,
(TSX-RVM) ("Revett" or the "Company") is pleased to report on its improving
operating and financial performance for the three months and six months ended
June 30, 2007. All currency in this report is in United States dollars unless
otherwise indicated

    The major highlights for the quarter ending June 30, 2007, included:

    
    - The Troy Mine (100% basis) reported net income before taxes of
      $11.2 million for the six months ended June 30, 2007 and $8.2 million
      for the second quarter. Revett Minerals has a 67% interest in the Troy
      Mine through its ownership of Revett Silver Company which owns 100% of
      Troy;
    - The Troy Mine (100% basis) generated $4.3 million cash during the
      six months ended June 30, 2007 and $5.3 million cash during the
      second quarter of 2007;
    - Revett Minerals reported consolidated net income after taxes and non
      controlling interests of $4.0 million or $0.06 per share for the
      six months ended June 30, 2007 and $3.7 million or $0.05 per share for
      the three months ended June 30, 2007;
    - Payable metals sales in the second quarter were 3.6 million pounds of
      copper and 375,602 ounces of silver during the second quarter compared
      to 2.4 million pounds of copper and 301,276 ounces of silver during the
      first quarter of 2007; and
    - Year to date metal sales are 6.0 million pounds of payable copper and
      676,878 ounces of payable silver compared to total metal sales of
      6.46 million pounds of copper and 817,250 ounces of silver for the full
      twelve months of 2006.

    Mr. Orchow, President and CEO, of the Company in commenting on the second
quarter said "This quarter's performance is by far and way the best financial
and operating results that we have reported as a company since our inception.
We are very pleased with the production improvements and cost control
activities at Troy. The production enhancement programs implemented last year
are achieving meaningful increases in mill throughput which has the added
benefit of reducing our production costs on a metal produced basis. The
management and staff at Troy are to be complemented for the efforts that they
have made in improving the operations at the mine". In addition, Mr. Orchow
added "we remain deeply saddened by the fatality at Troy which occurred on
July 30 and our thoughts and prayers remain with the family and friends of
Mr. Ivins."

    CONSOLIDATED RESULTS
    --------------------

    For the second quarter of 2007, Revett Minerals Inc. reported a net profit
of $3.72 million or $0.05 per share on record revenue of $15.9 million. The
year to date net profit is $4.03 million or $0.06 per share on revenue of
$26.6 million. This compared to net income of $2.28 million or $0.04 per share
during the second quarter of 2006 on revenue of $11.5 million and a six month
net income of $2.3 million or $0.04 per share on revenue of $18.9 million for
the six months ended June 30, 2006. Sales revenue was $10.7 million for the
first quarter of 2007.
    Concentrate deliveries and sales during the second quarter of 2007 totaled
3.6 million pounds of payable copper and 375,602 ounces of payable silver
compared to 2.4 million pounds of copper and 301,276 ounces of silver and 1.7
million pounds of copper and 225,071 ounces of silver for the first quarter of
2007 and the second quarter of 2006, respectively.
    During the second quarter of 2007 cost of sales was $8.8 million compared
to $6.3 million in the second quarter of 2006 and $7.6 million in the first
quarter of 2007. Operating costs were higher reflecting increased maintenance
costs, higher employee safety and production bonus payments, higher material
and supply costs and higher property and mining costs. Depreciation and
amortization in this current quarter was $0.4 million compared to $0.3 million
in the second quarter of 2006 and $0.4 million in the first quarter of 2007.
The Company uses the units-of-production method to depreciate the majority of
Troy's plant and equipment and therefore changes in throughput and ore
reserves will result in corresponding adjustments to these expense items. The
reclamation and closure accretion expense was $0.2 million in the second
quarter of 2007 compared to $0.01 million in the second quarter of 2006 and
$0.2 million in the first quarter of this year.
    Exploration and development costs totaled $0.6 million in the second
quarter of 2007 and have totaled $1.1 million year to date compared to
$0.3 million in the second quarter of 2006 and $0.6 million for the
first six months of 2006. These costs have increased because of the
continuation of the Troy Complex exploration program announced earlier this
year. General and Administration costs were $1.0 million in the second quarter
of 2007, essentially the same as the first quarter of 2007 and compared to
$0.7 million in the second quarter of 2006 The main factor affecting the
general and administration costs on a quarter over quarter basis are changes
in employees' stock option compensation expense. Finally interest income and
foreign exchange gains, net of interest expense totaled $1.0 million in the
second quarter of 2007 compared to net interest expense of 0.1 million during
the second quarter of 2006.
    As a result net income before non controlling interest and taxes was
$5.8 million for the second quarter of 2007 and $6.9 million year to date
compared to $3.7 million for the second quarter of 2006 and $3.9 million for
the first six months of 2006. During the second quarter of 2007 net income was
$3.7 million or $0.05 per share bringing the year to date net income to
$4.0 million or $0.06 per share and in 2006 the second quarter net income was
$2.3 million or $0.04 per share and for the first six months net income was
$2.3 million or $0.04 per share.
    At June 30, 2007, the Company's cash and cash equivalents and short term
investments, which consists of cash invested in fixed income securities,
totaled $27.6 million compared to $22.4 million as at March 31, 2007. The
increase in cash was a primarily a result of the strong financial performance
of the Troy Mine.

    THE TROY MINE
    -------------

    The table below illustrates certain key operating statistics for Troy
(100% basis) for the three months ended June 30, 2007, with a comparison to
the previous quarter and also for the three months ended June 30, 2006.

                                           Three         Three         Three
                                          Months        Months        Months
                                           Ended         Ended         Ended
                                        June 30,      June 30,     March 31,
                                            2007          2006          2007
                                       ---------    ----------    -----------

    Tons milled                          337,712       228,275       350,180
    Tons milled per day                    3,711         2,509         3,891
    Operating cost per ton milled (USD)    22.04         25.72         21.77
    Copper grade (pct)                      0.59          0.49          0.54
    Silver grade (opt)                      1.24          1.18          1.15
    Copper recovery (pct)                   87.1          84.7          87.1
    Silver recovery (pct)                   88.5          88.6          88.9
    Copper produced (lbs)              3,490,930     1,902,023     3,302,352
    Silver produced (ozs)                372,332       237,767       359,134

    The maintenance of mill throughput levels close to those of the first
quarter 2007, but substantially better than mill throughput levels attained in
the second quarter of 2006, along with the sustained high level of copper and
silver mill recoveries and combined with the recovery in copper and silver
prices are the two most significant factors affecting the Company's second
quarter operating and financial results. Also during the second quarter, Troy
has continued with its "Troy Complex" exploration program. Encouraging
preliminary results were released on July 10, 2007. The target of this program
is to test the potential for deeper mineralization below the existing mine
workings, known as the "I-beds" and to follow up on the known mineralization
on the JF claims, about 1.5 miles south of the Troy ore body.

    ABOUT REVETT
    ------------

    Revett Minerals, through its subsidiaries, has a 67% interest in Revett
Silver Company which in turn has a 100% interest in both the Rock Creek
Project and the Troy Mine, both of which are located in northwest Montana.
Based on the drilling to date, Rock Creek contains an estimated inferred
resource of 137 million tons grading 1.67 ounces silver per ton and 0.72%
copper, containing approximately 229 million ounces of silver and over
2 billion pounds of copper using a cut off grade of US $10.00 per ton. Further
information on both the Troy Mine and the Rock Creek Project may be found in
the National Instrument 43-101 reports at www.sedar.com. These reports were
prepared on behalf of the Company by Mr. Jean-Francois Couture, P.Geo. and
Mr. Ken Reipas, P.Eng. of SRK Consulting (Canada). Both Mr. Couture and
Mr. Reipas are Qualified Persons in accordance with National Instrument
43-101. All of these issues are discussed in greater detail in the Company's
official filings at www.sedar.com.

    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 applicable Canadian securities legislation
and 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 and resources, the
realization of mineral reserve estimates, the effect on the Company's
operations of pending or planned legal challenges, the timing and amount of
estimated future production, industrial accidents, and costs of production,
all involve known and unknown risks, uncertainties and other factors which may
cause 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. 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 be taken", "occur" or "be achieved".
Forward looking statements are subject to known and known risks, uncertainties
and other factors. Such other factors may include, among others, ground
control problems and flooding, metallurgical recovery problems, ore grade or
tonnage shortfalls, labor disruptions or shortages of skilled labor, risks
relating to environmental laws and regulations, the actual results of
exploration activities, actual results of current reclamation activities,
conclusions of economic evaluations, changes in project parameters as plans
continue to be refined, future metal prices, changes in the quantity and costs
of producing copper concentrate as well as those factors discussed in the
section entitled "Risk Factors" in the annual information form filed on SEDAR
at www.sedar.com. 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.



    Revett Minerals Inc.
    Consolidated Balance Sheets
    at June 30, 2007
    (expressed in thousands of United States dollars)

                                                       June 30,  December 31,
                                                          2007          2006
                                                    (unaudited)     (audited)
                          Assets

    Current Assets
    Cash and cash equivalents                      $    21,755   $    19,862
    Short term investments                               5,884         3,940
    Receivables                                          4,452           980
    Inventories                                          4,258         4,005
    Prepaid expenses and other                             702           512
                                                   ------------  ------------
        Total current assets                            37,051        29,299

    Property, plant, and equipment (net)                56,871        56,012
    Restricted cash                                      7,211         7,043
    Other long term assets                               1,265         1,849
                                                   ------------  ------------

    Total assets                                   $   102,398   $    94,203
                                                   ------------  ------------
                                                   ------------  ------------

             Liabilities and stockholders equity

    Current liabilities
    Accounts payable and accrued liabilities       $     6,911   $     5,848
    Current portion of lease and note obligations        9,983         4,387
                                                   ------------  ------------
        Total current liabilities                       16,894        10,235

    Long-term portion of debt                            2,837         9,354
    Reclamation and remediation                          6,904         7,603
    Future income tax                                    9,682         8,353
                                                   ------------  ------------
        Total liabilities                               36,317        35,545
                                                   ------------  ------------

    Non controlling interest                            10,097         8,524

                     Stockholders' equity

    Preferred stock, no par value, unlimited
     authorized, nil issued and outstanding
    Common stock, no par value unlimited
     authorized, 73,197,703 shares issued and
     outstanding                                        55,316        53,989
    Contributed surplus                                  1,312           816
    Accumulated other comprehensive income                   -             -
    Retained earnings (deficit)                           (644)       (4,671)
                                                   ------------  ------------
                                                        55,984        50,134
                                                   ------------  ------------

        Total liabilities and stockholders equity  $   102,398   $    94,203
                                                   ------------  ------------
                                                   ------------  ------------

    See accompanying notes to intermin consolidated financial statements.



    Revett Minerals Inc.
    Consolidated Statement of Operations
    Six months and three months ended June 30, 2007 and 2006
    (expressed in thousands of United States dollars)


                       Three month   Three month     Six month     Six month
                            period        period        period        period
                           June 30,      June 30,      June 30,      June 30,
                              2007          2006          2007          2006

    Revenues           $    15,903   $    11,496   $    26,619   $    18,934

    Expenses:
    Cost of sales            8,758         6,290        16,307        12,224
    Depreciation and
     amortization              449           337           835           752
    Exploration and
     development               625           324         1,100           641
    General &
     administrative          1,064           665         2,039         1,216
    Accretion of
     reclamation and
     remediation
     liability                 162            30           323            67
                       --------------------------  --------------------------
                            11,058         7,646        20,604        14,900
                       --------------------------  --------------------------
        Income from
         operations          4,845         3,850         6,015         4,034

    Other expenses
     (income):
    Interest expense           372           275           744           517
    Interest and other
     income                   (465)         (173)         (692)         (350)
    Foreign exchange
     (gain) loss              (838)           (1)         (966)           (3)
                       --------------------------  --------------------------
        Total other
         expenses             (931)          101          (914)          164
                       --------------------------  --------------------------

    Net income (loss)
     before non
     controlling
     interest and taxes      5,776         3,749         6,929         3,870
                       --------------------------  --------------------------

    Income taxes
     (recovery)                953           642         1,329           642
                       --------------------------  --------------------------

    Net income before
     non controlling
     interest                4,823         3,107         5,600         3,228
                       --------------------------  --------------------------

    Non controlling
     interest                1,096           832         1,571           927
                       --------------------------  --------------------------

    Net income (loss)
     for the period    $     3,727   $     2,275   $     4,029   $     2,301
                       --------------------------  --------------------------
                       --------------------------  --------------------------

    Basic earnings
     (loss) per share  $      0.05   $      0.04   $      0.06   $      0.04
                       --------------------------  --------------------------
                       --------------------------  --------------------------

    Fully diluted
     earnings (loss)
     per share         $      0.05   $      0.04   $      0.06   $      0.04
                       --------------------------  --------------------------
                       --------------------------  --------------------------

    Weighed average
     number of shares
     outstanding        72,863,666    60,047,503    72,863,666    60,047,503
                       --------------------------  --------------------------
                       --------------------------  --------------------------

    See accompanying notes to interim consolidated financial statements.



    Revett Minerals Inc.
    Consolidated Statement of Cash Flow
    Six months and three months ended June 30, 2007 and 2006
    (expressed in thousands of United States dollars)

                       Three month   Three month     Six month     Six month
                            period        period        period        period
                           June 30,      June 30,      June 30,      June 30,
                              2007          2006          2007          2006

    Cash flows from
     operating
     activities:
    Net income (loss)
     for the period    $     3,727   $     2,276   $     4,028   $     2,302
    Adjustment to
     reconcile loss
     to net cash
     used by operating
     activities
      Depreciation and
       amortization            449           337           835           752
      Accretion of
       reclamation and
       remediation
       liability               162            30           323            67
      Stock based
       compensation            154            25           497            25
      Loss on disposal
       of fixed assets           1             -             1             -
      Future income
       tax expense
       (recovery)              953           642         1,329           642
      Non controlling
       interest              1,096           836         1,571           930
    Changes in:
      Accounts
       receivable           (2,197)       (3,104)       (3,472)       (4,527)
      Inventory                605          (684)         (253)       (1,546)
      Prepaid expenses
       and other               165           100          (190)            9
      Accounts payable       2,080           623         1,061           532

                       --------------------------  --------------------------
    Net cash used by
     operating
     activities              7,195         1,081         5,730          (814)
                       --------------------------  --------------------------

    Cash flows from
     investing
     activities:
      Business
       acquistions,
       net                       -             -             -             -
      Other long term
       assets                  541            31           583            71
      Restricted cash          (85)          (81)         (167)         (160)
      Purchase of
       plant and
       equipment            (2,450)         (136)       (2,708)         (168)

                       --------------------------  --------------------------
    Net cash provided
     (used) by
     investing
     activities             (1,994)         (186)       (2,292)         (257)
                       --------------------------  --------------------------

    Cash flows from
     financing
     activities:
      Proceeds from
       the issuance
       of common
       stock, net                -             -         1,327             -
      Proceeds from
       long term debt        1,838             -         1,839             -
      Repayment of debt     (1,602)         (608)       (2,342)       (1,071)
      Repayment of
       capital leases         (244)         (104)         (425)         (217)
      Proceeds (Sale)
       of short term
       investments          (1,465)          520        (1,944)        2,027
                       --------------------------  --------------------------
    Net cash from
     (used by)
     financing
     activities             (1,473)         (192)       (1,545)          739
                       --------------------------  --------------------------

    Net (decrease)
     increase in cash
     and cash
     equivalents             3,728           703         1,893          (332)
    Cash and cash
     equivalents,
     beginning of
     period                 18,027         3,573        19,862         4,608
                       --------------------------  --------------------------
    Cash and cash
     equivalents, end
     of period         $    21,755   $     4,276   $    21,755   $     4,276
                       --------------------------  --------------------------
                       --------------------------  --------------------------

    Supplementary cash
     flow information:
      Cash paid for
       interest
       expense         $       242   $       445   $       787   $       744
      Cash paid for
       income taxes    $         -   $         -   $         -   $         -
      Common stock
       issued in
       business
       acquisition     $         -   $         -   $         -   $         -
      Common stock
       issued in
       connection
       with debt
       settlement      $         -   $         -   $         -   $         -
      Acquisition
       of plant and
       equipment
       under capital
       lease           $         -   $         -   $         -   $         -

    See accompanying notes to interim consolidated financial statements.



    Revett Minerals Inc.
    Consolidated Statements of Shareholders' Equity
    Six months ended June 30, 2007 and 2006
    (expressed in thousands of United States dollars)

                                            Additional
                                                  Paid
                            Common Shares           in
                            -------------           --
                          Shares     Amount    Capital    Deficit      Total
                          ------     ------    -------    -------      -----

    Balance,
     December 31,
     2005             60,047,503 $   42,701 $      243 $   (2,322) $  40,623
    Issued on the
     exercise of
     stock options                                                         -
    Issued on the
     exercise of
     share purchase
     warrants                  -          -                                -
    Stock-based
     compensation on
     options granted                                 -                     -
    Net income (loss)
     for the period                                         2,302      2,302
                      -------------------------------------------------------
    Balance,
     June 30, 2006    60,047,503 $   42,701 $      243 $      (20) $  42,925
                      -------------------------------------------------------
                      -------------------------------------------------------



                                            Additional
                                                  Paid
                            Common Shares           in
                            -------------           --
                          Shares     Amount    Capital    Deficit     Total
                          ------     ------    -------    -------     -----
    Balance,
     December 31,
     2006             71,904,088 $   53,989 $      816 $   (4,673) $  50,132
    Issued on the
     exercise of
     stock options                                                         -
    Issued on the
     exercise of
     share purchase
     warrants          1,293,615      1,327                            1,327
    Stock-based
     compensation
     on options
     granted                                       496          -        496
    Net income (loss)
     for the period                                         4,029      4,029
                      -------------------------------------------------------
    Balance,
     june 30, 2007    73,197,703 $   55,316 $    1,312 $     (644) $  55,984
                      -------------------------------------------------------
                      -------------------------------------------------------

    See accompanying notes to interim consolidated financial statements.
    




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

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