Revett Provides Operational Guidance for 2011
SPOKANE VALLEY, U.S.A. -- (Marketwire) -- 12/22/10 -- Spokane Valley, Washington December
22, 2010; Revett Minerals Inc. ('Revett' or
the 'Company') (TSX:RVM/OTCBB:RVMIF) is pleased to issue 2011
operational
guidance for production from its Troy silver and copper mine in
northwestern
Montana.
Production at the Troy Mine is expected to be approximately 1.3 million
ounces
of silver and 11.0 million pounds of copper for 2011. Based on the current
mine
plan, mill throughput is anticipated to average 4,000 tons per day and
grades
are expected to improve averaging 1.20 ounces per ton silver and 0.46%
copper as
more production is gained from the recently developed C Bed area.
Production
costs on a net of byproduct basis are expected to be $3.32 per ounce of
silver
and $1.48 per pound of copper and on a co-product basis costs are
estimated to
be $10.39 per ounce of silver and $2.08 per pound of copper.
Ensuring around 75% of Company's operating costs are covered, Revett has
hedged
approximately 25% of its 2011 estimated silver production at US$19.00 per
ounce
and 50% of its estimated copper production at US$3.55 per pound The
remaining
75% of silver and 50% of copper production enables the Company to
fully
capitalize on higher metal prices
About Revett
Revett, through its subsidiaries, owns and operates the currently producing
Troy
Mine in Lincoln County, Montana and development-stage Rock Creek Project
located
in Sanders County, 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
For more information, please contact:
Monique Hayes, Corporate/Investor Communications at (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
'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 production costs, improved grades and increased production
from the
C-bed area. Actual results and developments could be affected by
development
risks and production risks, 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.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Revett Minerals Inc. via Thomson Reuters ONE
[HUG#1475104]
For more information, please contact:
Monique Hayes
Corporate/Investor Communications
(509) 921-2294
or visit our website at www.revettminerals.com