Spokane, Washington  – Revett Minerals Inc. (RVM-TSX) (“Revett” or “the Company”) announced today that it has released its audited financial statements and its Management’s Discussion and Analysis report for the financial year ended December 31, 2004.

Subsequent to December 31, 2004, the Company completed its IPO and obtained a listing on The Toronto Stock Exchange. Pursuant to the IPO, the Company issued 34.5 million common shares at (Cdn) $1.00 per share for net proceeds of approximately (Cdn) $32.7 million (US$25.5 million) At the time of closing, the Company also entered into an Agreement and Plan of Reorganization with Revett Silver Company (“Revett Silver”) to acquire approximately 65% of Revett Silver. Revett Silver, through its subsidiaries, owns both the Rock Creek Project and the Troy Mine in northwest Montana.

These financial statements also contain a pro forma consolidated balance sheet which has been compiled to reflect the IPO and acquisition of Revett Silver as if the transactions had occurred on December 31, 2004 and the pro forma consolidated statement of operations has been prepared as if the transactions had occurred on January 1, 2004.

EQUIPMENT PURCHASES AND BONDING

Capital expenditures at the Troy Mine in 2005 are expected to be approximately US$3.5 million for new mining equipment. This equipment will be financed by approximately US$1.7 million cash and third party debt financing for the residual obligations. In March 2005, Revett Silver, through a wholly owned subsidiary, purchased a reclamation cost insurance program for a total of US$8.4 million. This program has a number of components including surety bonds provided to the State of Montana in the amount of US$10.5 million and a reclamation cost “trust fund” in the amount of US$6.4 million. The surety bonds provided to the State of Montana replace the reclamation performance bonds previously provided by the previous owner of the Troy Mine, ASARCO Incorporated. The insurance policy also obligates the insurance company to provide additional bonding up to a specified amount if such an increase is required by the State of Montana. The term of this insurance policy is 15 years. If the cost of reclaiming the Troy Mine site is less than US$6.4 million, Revett Silver will be entitled to a refund of the amount of the trust fund not expended.

The Company is pleased to report that it has accepted delivery of 3 new 55 ton haul trucks and a new roof bolter at the Troy Mine. These trucks and the roof bolter will facilitate an increase in mining efficiency and this additional equipment is expected to allow the Company to increase mill throughput to the planned full production rate of 6,500 tons per day.

ROCK CREEK PERMITTING

On March 30, 2005, the Company received the decision of the United States District Court in Missoula, Montana respecting an action by certain environmental groups challenging the United States Fish and Wildlife Services (USFWS) biological opinion. That Opinion concluded that the proposed development of the Rock Creek project would not jeopardize the continued existence of grizzly bears or bull trout in the vicinity of the proposed development. Essentially, the environmental groups alleged the biological opinion ignored best available science and was arbitrary and capricious. The groups also challenged the mitigation plan which allowed Revett Silver to acquire certain mitigation lands over a period of time, rather than acquiring such lands prior to any activity. The Court denied the appeal by the environmental groups on this issue noting the mitigation plan as written is not arbitrary or capricious. However, the Court concluded that the USFWS “was not sure what the effects of the displacement would be”. The Court remanded the Opinion back to the USFWS to reanalyze its non-jeopardy findings. The Company believes that the USFWS will either initiate additional studies on the impact of the proposed development activities on these species or alternatively appeal this decision. The Company believes that the permitting agencies used all best available science and fairly considered all evidence in their deliberations. Neither the Company nor the permitting agencies can predict the effect this decision will have on the timing of the development activities for the Rock Creek Project. In making his decision the judge stated “…deciding this issue is quite difficult…….but a tie in the evidence should go to the species”.

William Orchow, President and CEO, stated: “We are very disappointed in the findings of the Court because the USFWS conducted extensive studies over many years in coming to its non-jeopardy opinion and this decision may require them to reexamine studies that were extensively analyzed in the past. We believe that we will prevail on these issues but meanwhile the project could be delayed if new investigations are required”. Mr. Orchow further stated that he was disappointed that the Court failed to consider that the extensive mitigation measures contained in the Record of Decision would actually contribute to an improved habitat for the affected species and that our proposal is unique in respect of the extensive and costly efforts we will be undertaking to protect the local environment and the surrounding eco-system.

ABOUT REVETT

Revett Minerals, through its subsidiaries, owns both the Rock Creek Project and the Troy Mine located in northwest Montana. The Troy Mine is expected to produce 2.8 million ounces of silver and 23 million pounds of copper in 2005. Based on the drilling to date, Rock Creek contains an estimated inferred resource of 136.6 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 Jean-Francois Couture, P.Geo. and Ken Reipas P.Eng. of SRK Consulting (Canada) and they are qualified persons under 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

For more information, please contact:
Scott Brunsdon, CFO or Doug Ward, VP Corporate Development 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 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 timing and amount of estimated future production, costs of production, involve known and unknown risks, uncertainties and other factors which may cause the 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. Such factors include, among others, risks relating to environmental laws and regulations, the actual results of current exploration activities, actual results of current reclamation activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of silver and copper, as well as those factors discussed in the section entitled “Risk Factors” in the Final Long-Form Prospectus on file with the Ontario Securities Commission. 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 as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.