Spokane, Washington  – Revett Minerals Inc. (RVM-TSX) is pleased to announce today the closing of an initial public offering of its common shares, at Cdn $1.00 per share, for gross proceeds of Cdn $30.0 million, and anticipated net proceeds, before expenses of the offering of Cdn $28.2 million. The underwriting syndicate was led by GMP Securities Ltd. and included Toll Cross Securities Inc., Haywood Securities Inc. and Sprott Securities Inc. In addition to the 30 million shares sold in the IPO, the underwriters were granted an over-allotment option to purchase up to an additional 4.5 million common shares, or Cdn $4.5 million, for a period of 30 days from today.

Revett Minerals, through its subsidiaries, hold both the Rock Creek Project and the Troy Mine in northwest Montana. The Troy Mine is expected to produce 2.8 million ounces of silver and 23 million pounds of copper in 2005. Rock Creek is a permitted, drilled inferred resource using a cut-off grade of US$10 net smelter return per ton containing 137 million tons grading 1.6 ounces silver per ton and 0.72% copper (229 million ounces of silver and 2 billion pounds of copper). Further information on both the Troy Mine and the Rock Creek Project may be found in the National Instrument 43-101 reports contained on 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. The estimated inferred mineral resource has been categorized in accordance with the classifications defined by the Canadian Institute of Mining, Metallurgy and Petroleum.

William Orchow, Revett’s President and CEO said “This is an exciting time at Revett as we pursue the development of Rock Creek and capitalize on the strength of metal prices with the production from Troy. We are also pleased to be listed on the Toronto Stock Exchange, which we believe to be the premier mining stock exchange in the world.”

William Orchow
President & CEO
on behalf of the Board of Directors

For more information, please contact:

Scott Brunsdon, CFO or Doug Ward, VP Corporate Development at (509) 921-2294

Not for distribution to U.S. Newswire Services or for dissemination in the United States.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (“U.S. Securities Act”) or any state securities laws and, unless registered under the U.S. Securities Act or pursuant to an applicable exemption from registration under the U.S. Securities Act, may not be offered, sold, reoffered, resold or delivered, directly or indirectly, in the United States or to U.S. Persons (as defined in Regulation S under the U.S. Securities Act).

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
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-From Prospectus as 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.