This information was accurate at the time of posting, but may be superseded by
subsequent news releases.
Revett Minerals Reports on the Progress of Rock Creek Permitting
June 2, 2005Spokane, Washington - Revett Minerals Inc. (RVM-TSX) (“Revett” or “the Company”) advises that the Company and the United States Fish and Wildlife Service (“USFWS”) have both independently filed appeals with the 9th Circuit Court of Appeals regarding the decision of the United States District Court in Missoula, Montana to set aside and remand the Biological Opinion on the Rock Creek project back to the USFWS for further study and consideration. The Biological Opinion concluded that the Rock Creek project would not jeopardize the continued existence of grizzly bears or bull trout in the vicinity of the proposed development. The District Court’s decision requires the USFWS to reconsider its findings concerning the grizzly bear and bull trout impacts.
Prior to the District Court’s decision the USFWS had already re-initiated consultation on the status of the grizzly bear population in the Cabinet-Yaak ecosystem. The Company has been advised by the USFWS that the USFWS should be in a position to reissue the Biological Opinion in the third quarter of this year. The Company continues to believe that the Biological Opinion was comprehensive and employed best scientific and commercial data available to properly determine appropriate mitigation measures as required under the Endangered Species Act (United States).
William Orchow, President and CEO, stated “We are looking forward to the timely resolution of these issues and continuing with the development activities at Rock Creek.” Mr. Orchow added that “The extensive mitigation programs offered by the Company, which would cost in excess of US$9.0 million over the next four years, are all targeted at enhancing the habitat and well being of grizzly bear and bull trout in this region.”
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. Rock Creek is an inferred resource containing an estimated 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 net smelter return 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 applicable 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), both of whom 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 and 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.
© Copyright 2010, Revett Minerals, Inc.
