Revett Provides Update on Rock Creek Silver/Copper Project

SPOKANE VALLEY, WA, Dec. 8 /CNW Telbec/ - Revett Minerals Inc., Spokane Valley, Washington ("TSX-RVM") ("Revett" or the "Company") is pleased to provide an update on its Rock Creek silver/ copper development project. The Rock Creek asset, located in northwestern Montana within the same geological trend as the Company's currently producing Troy Mine, contains an estimated 229 million ounces of silver and 2 billion pounds of copper.

The original exploration program, conducted by Asarco from 1979 - 1983, resulted in 121 drill holes and over 120,000 feet of core. Revett subsequently acquired the project from Asarco in 1999 and continued the extensive and exacting permitting process. A Final Record of Decision (ROD) representing the collective approvals of multiple regulatory agencies was granted by the U.S. Forest Service in 2003. The Record of Decision provides the approval and regulatory requirements to initiate evaluation and development activities. Issuance of the approved ROD followed years of careful preparation and collaboration with stakeholders including an extensive Final Environmental Impact Statement and Biologic Opinion.

Tim Lindsey, Revett's Chairman of the Board, stated "As a native of the Troy area and an industry professional, I am impressed by the body of diligent and balanced work that has been completed by the agencies and by our company to obtain and defend the Rock Creek permits. We remain mindful of our responsibilities as an employer in the region, and our responsibilities to the environment and communities in which we live and operate. Rock Creek is a significant silver/copper deposit and the proposed operations will employ 300 people contributing significantly to the local and regional economies. Revett is committed to responsible development and stewardship."


The Record of Decision is based on the Final Environmental Impact Statement issued in 2001 by Montana DEQ and the U.S. Forest Service and the Biological Opinion issued in May 2003 by the U.S. Fish & Wildlife Service. After the Record of Decision was issued in June 2003, it was subsequently challenged by various anti-development groups in the State and Federal courts. An administrative appeal filed on August 11, 2003 was reviewed by the Regional Forester who affirmed the approved Record of Decision on September 29, 2003.

The Montana State and U.S. Federal agencies responsible for issuing the permits have continued to show support by reissuing the Biological Opinion in 2006, affirming the Record of Decision in the December 2007 Supplemental Information Reports; and, vigorously defending ongoing legal challenges throughout 2008 and 2009. All pleadings have been submitted to the United States District Court for the District of Montana related to environmental challenges of the Record of Decision and Biological Opinion. A ruling from the court is expected in the coming months.

Currently, the Company continues a parallel focus on operations at the Troy Mine. This production process has provided continuing cash flow and has assisted in the development of our experienced work force and mining infrastructure that can be effectively utilized for development and operation of the Rock Creek project. Estimated production from the Troy Mine for 2010 is expected to be approximately 1.2 million ounces of silver and 10 million pounds of copper. Given current metal prices, the Troy mine which currently employs 185 individuals is expected to continue contributing to the economy and produce significant cash flow for approximately 6 more years, with excellent exploration potential in nearby targets. Further exploration success could significantly extend the life-of-mine plan.

Development Plan

The first phase of development for the Rock Creek project is implementation and completion of an underground Evaluation Program which will consist of approximately 3,000 feet of adit decline and a 4,000 foot drift in the mineralized horizon. The adit is designed to provide access for additional underground delineation drilling and critical data to verify hydrologic and geotechnical assumptions. This work is expected to take approximately two years and culminate in a technical and economic feasibility analysis. Preliminary physical surface work related to the adit and ramp development may commence in the spring of 2010 contingent on the outcome of ongoing legal challenges. To date, a temporary office and core storage building have been constructed on site approximately one mile off Montana State Highway 200. Other facilities required to be constructed will include a water treatment plant and shop / warehouse facilities closer to the portal site.

As part of the Company's ongoing efforts to protect and augment wildlife resources, Revett has funded the positions of professional wildlife biologists working on the staff of the Montana Fish, Wildlife, and Parks Department since February 2007. Additionally, Revett has purchased 673 acres of private land formerly targeted for real estate development which will soon be managed as protected habitat for bear mitigation measures. Once a decision is reached to move forward with the project, Revett will again provide funding to Montana Fish Wildlife & Parks for a wildlife biologist and a law enforcement officer to specifically monitor the grizzly bear population with the goal of reducing bear mortality.

Assuming a positive technical evaluation and economic feasibility study, along with completion of project-financing, Revett intends to develop a 10,000 ton per day underground (room-and-pillar) mine. The produced ore will be milled using a conventional flotation processing circuit to produce a copper concentrate. This process for producing copper concentrate is currently utilized at the Troy Mine. Construction of process facilities and underground development will take approximately two to three years. Once in operation, Rock Creek is expected to produce 6 million ounces of silver and 52 million pounds of copper annually over at least a 20 year mine life.


    Rock Creek Resources
    (Dec. 31, 2008)                        Grades           Contained Metals
    Location/               Tons     Silver     Copper     Silver     Copper
    Classification(1)    (Mst)(2)      (opt)        (%)      (Moz)     (Mlbs)
    Chicago                   78       1.45       0.65%       113      1,025
    St. Paul                  48       2.10       0.92%       101        883
    Moran                     10       1.50       0.57%        15        114
    Total Inferred           137       1.67       0.72%       229      2,022
    1.) Mineral Resources have been categorized in accordance with the
        classifications defined by the CIMM.
    2.) The estimated mineral resources are based upon a technical report
        (the "Rock Creek Report") dated May 7, 2004, amended as of January
        27, 2005, prepared by SRK Consulting, Toronto in accordance with NI
        43-101. They are stated using a cut-off grade of US$ 10.00 net
        smelter return per ton.

An independent technical study completed by SRK Consulting was completed in November 2005. This report and additional information on the Rock Creek project can be viewed on the Company's web site at

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 be taken", "occur" or "be achieved". Forward-looking statements contained in this press release include but are not limited to those with respect to the expectation of a ruling on environmental challenges to the permit for the Rock Creek Project, estimated production from the Troy Mine and the expectation that it will produce significant cash flow for approximately six more years and the anticipated timeline for development of a mine at Rock Creek. There are no assurances that a final ruling will in fact be issued with respect to the environmental challenges on a timely basis or at all and there may be further challenges. Material factors or assumptions used to develop forward looking statements are subject to known and unknown risks, uncertainties and other factors. Reference is also made to 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 Manager, (509) 921-2294;

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