Revett Minerals Inc. Achieved Record Mill Throughput at Troy Mine

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Thu Apr 22, 2010 1:16pm EDT

  SPOKANE VALLEY, WA, Apr 22 (MARKET WIRE) -- 
Revett Minerals Inc. ("Revett" or the "Company") (TSX:RVM/OTCBB:RVMIF) is
pleased to announce it has achieved record mill throughput at the Troy
Mine during the first quarter of 2010, averaging 4,265 tons per day, a
12% increase over the first quarter of 2009.

    Recent Operating Highlights Include:


--  The Troy mine improved mill throughput during the first quarter of
    2010, averaging 4,265 tons per day compared to 3,811 tons per day in
    the first quarter of 2009;
--  During the first quarter of 2010, the Troy Mine Produced 287,259 ounces
    of silver and 2.5 million pounds of copper compared to 321,149 ounces
    silver and 2.3 million pounds of copper for the same period last year;
    and
--  Development of the decline to access the C Bed area was accelerated
    with the mobilization of a mine contractor (Small Mine Development,
    LLC) in February.

                                                         1st        1st
Troy Production                                        Quarter    Quarter
 Summary(1)           January   February     March      2010       2009
                     ---------  ---------  ---------  ---------  ---------
Mill Production
                     ---------  ---------  ---------  ---------  ---------
Mill Feed (st)         126,731    128,561    124,299    379,591    339,171
                     ---------  ---------  ---------  ---------  ---------
Mill Feed Rate
 (stpd)                  4,224      4,591      4,010      4,265      3,811
                     ---------  ---------  ---------  ---------  ---------
Silver
                     ---------  ---------  ---------  ---------  ---------
Feed Grade - Oz/Ton
 Ag                       0.90       0.84       0.85       0.87       1.08
                     ---------  ---------  ---------  ---------  ---------
Mill Recovery - Ag        86.5%      87.3%      88.6%      87.5%      87.0%
                     ---------  ---------  ---------  ---------  ---------
Recovered Ounces        98,751     94,631     93,877    287,259    321,149
                     ---------  ---------  ---------  ---------  ---------
Copper
                     ---------  ---------  ---------  ---------  ---------
Feed Grade - % Cu         0.39%      0.37%      0.38%      0.38%      0.40%
                     ---------  ---------  ---------  ---------  ---------
Mill Recovery - Cu        83.8%      85.8%      85.6%      85.1%      86.2%
                     ---------  ---------  ---------  ---------  ---------
Recovered Pounds       828,313    825,913    801,964  2,456,190  2,316,702
                     ---------  ---------  ---------  ---------  ---------
Cash Cost(2)
                     ---------  ---------  ---------  ---------  ---------
Direct Operating
 Cost (US$/st)           22.71      21.49      24.82      22.99      21.90
                     ---------  ---------  ---------  ---------  ---------
By-Product Basis
 (payable)(3)
                     ---------  ---------  ---------  ---------  ---------
 - Silver (US$/oz) or,    4.19       9.17       2.85       5.39      13.41
                     ---------  ---------  ---------  ---------  ---------
   - Copper (US$/lb)      1.69       1.98       1.83       1.83       1.67
                     ---------  ---------  ---------  ---------  ---------
Co-Product Basis
 (payable)(3)
                     ---------  ---------  ---------  ---------  ---------
   - Silver (US$/oz)
    and,                 12.51      11.87      12.78      12.69      13.10
                     ---------  ---------  ---------  ---------  ---------
    - Copper (US$/lb)     2.18       2.17       2.57       2.36       1.63
                     ---------  ---------  ---------  ---------  ---------

    
Production Table Notes:

    1. Production statistics are on a 100% basis.

    2. Cash cost per payable ounce of silver or payable pound of copper is a
non GAAP measure. The Company believes that, in addition to cost of sales,
cash costs per ounce or per pound is a useful and complementary benchmark
for performance and is well understood and widely reported in the mining
industry. However, cash costs per ounce does not have a standardized
meaning prescribed by Canadian GAAP. Investors are cautioned that cash
costs per ounce or per pound should not be construed as an alternative to
cost of sales determined in accordance with Canadian GAAP as an indicator
of performance. The Company's method of calculating cash costs per ounce
or per pound may differ from the methods used by other entities and,
accordingly, the Company's cash costs per ounce or per pound may not be
comparable to similarly titled measures used by other entities. All cash
costs include direct mine site costs and smelting refining and transport
costs.

    3. Average commodity prices used to off-set (by-product credit basis) or
allocate (co-product basis) cash costs are the monthly weighted average
realized prices based on invoiced shipments.

    Troy Development Update:

    The decline to access the C Bed ore body is progressing well with a total
of approximately 650 feet completed to date of the total planned 3,000
feet. At current rates of advance, the expected completion is in the third
quarter. Production from the C Bed ore body, which contains 1.2M tons of
ore grading 1.61 ounces per ton silver and 0.56 percent copper, is
expected to significantly improve our average mill feed grades in the
fourth quarter. The C Bed development will also provide access for future
underground drill stations. 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
---------------------------------- ------------------  ----------------
Classification(1)  Tons (st)(2,3)   Silver    Copper   Silver   Copper
                                    (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.

    The conceptual development plan is to aggressively continue exploration
both vertically below and laterally adjacent to current mining areas at
Troy to extend the mine life beyond the current 6 year plan. Prior
drilling and surface sampling has identified anomalous bornite
mineralization in several areas that warrant additional follow up drilling
including the JF area to the south where a historic resource was
identified. We also plan to initiate a review and re-interpretation of
existing geophysical data which may identify other exploration targets
around the Troy Mine.

    During the first quarter of 2010, exploration drilling continued from
underground drill stations primarily targeting the deeper "I Bed"
mineralization beneath the Troy Mine. Encouraging results have been
observed and additional drilling will continue underground and surface
will commence as weather conditions improve. A full exploration update
will be forthcoming in the near future once results become available.

    Mr. John Shanahan, President and CEO, noted "Despite anticipated lower
grades, our first quarter production results are above plan and sets the
stage for continued optimization of Troy operations. We are advancing
development of the C bed mineralized zone which may lead to significantly
higher grades by year end. We are also systematically increasing our
knowledge base of other areas adjacent to Troy, which with further work
may lead to a significant increase in mine life at Troy."


John Shanahan
President & CEO

    
For more information, please contact: Doug Ward, VP Corporate
Development or Monique Hayes, Investor/Corporate Communication Manager
(509) 921-2294 or visit our website at www.revettminerals.com.

    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 improved grades and anticipated development of the
"C-Bed" in 2010. 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.

    

For more information, please contact:
Doug Ward
VP Corporate Development
or
Monique Hayes
Investor/Corporate Communication Manager
(509) 921-2294
www.revettminerals.com

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