Revett moves forward with C-Bed Development and Expands Land Position at Troy

SPOKANE VALLEY, WA, Feb. 16 /CNW Telbec/ - Revett Minerals Inc. ("Revett" or the "Company") (TSX:RVM/OTCBB:RVMIF) has given approval for Small Mines Development (SMD), an independent contractor, to mobilize for access and development of the "C-bed" zone of the lower member of the Revett Formation at the Troy mine. Development is expected to take up to 5 months and production from the higher grade "C-beds" is expected to begin in the third quarter of this year. Metal recoveries from this new zone have been included in the Company's 2010 forecasted total production of approximately 1.3 million ounces of silver and 10.7 million pounds of copper.

The "C-beds" are located approximately 370 feet below current workings at the Troy Mine and contain approximately 1.9 million ounces of silver and 13.7 million pounds of copper (ore grades averaging 1.61 ounces per ton Ag and 0.56% Cu). The table below identifies the estimated probable reserves for the "C-beds", which are part of the overall reported reserves at the Troy Mine.

            C-Bed Reserves
          (November 12, 2009)              Grades         Contained Metals
                              Tons     Silver   Copper    Silver     Copper
    Classification(1)     (st)(2,3)      (opt)      (%)     (Moz)     (Mlbs)
    Probable             1,228,530       1.61     0.56       1.9       13.7
    1. Mineral Reserves have been categorized in accordance with the
       classifications defined by the Canadian Institute of Mining,
       Metallurgy, and Petroleum ("CIMM").
    2. Does not include resources contained in planned pillars. Only material
       scheduled to be extracted and milled included.
    3. The estimated mineral reserves were calculated by Mr. Larry Erickson,
       P Eng., a Qualified Person ("QP") in accordance with Canadian National
       Instrument 43-101 ("NI 43-101"). They are stated using a cut-off grade
       of US$ 20.02 net smelter return per ton calculated at US$ 12.00/oz Ag
       and US$2.25/lb Cu. Mr. Erickson is an employee of Revett and is not
       considered independent.

In addition to advancing development of the "C-beds" the Company continues to examine exploration targets adjacent to the Troy Mine and has entered into a purchase agreement to acquire 152 unpatented mining claims contiguous with the Company's current land package. These claims cover prospective mineralization trends to the east and north of the Troy Mine and reinforce the Company's plan to explore for and evaluate deposits located near existing infrastructure and operations.

John Shanahan, President and CEO stated, "The Troy Mine has had a stellar start to 2010. Year to date production is approximately 5% above forecasted plan levels. We are also pleased to once again partner with SMD for development work, and we will continue to focus future exploration efforts on nearby targets at Troy to capitalize on our existing mining and milling infrastructure."

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 "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, anticipated development of the "C-bed" in 2010 followed by production from the "C-beds in the third quarter of 2010 and statements regarding the Company's plan to move ahead exploration near existing infrastructure and operations. 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 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;

Organization Profile


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