and Revett Silver Company, the owner and operator of the Troy Mine have finalized an

agreement that will substantially increase the mine’s reclamation bonds, the surety

instruments that make certain adequate money is available to cover reclamation as well as

water monitoring and water treatment, if necessary.

 

Under the agreement, the bonds increased immediately from $10.5 million to $11.9 million,

and will automatically increase to $12.9 million over the next three years. The bond amount

is much higher than the closure cost estimated by Revett thereby adding a significant safety

factor for the people of Montana. The Troy Mine, which is located 15 miles southwest of

Troy in Lincoln County, is operated by Genesis Inc. a subsidiary of Revett Silver employing

150 people contributing approximately $25 million dollars annually to the local and state

economy.

 

“These bonds, held by the state, assure the public that the environment, water and taxpayers

are all protected,” said Bill Orchow, President and CEO of Revett Minerals, Inc. “In

addition to the bonds required by the state, following our policy, we have adequate funding

set aside in the form of a reclamation trust fund to do the necessary reclamation and water

treatment, if necessary. That offers double-protection.”

 

Revett is progressing with the permitting of the Rock Creek Mine, located nearby in Sanders

County. Like Troy, Rock Creek will be an underground copper-silver mine and will employ

300 workers.

 

For more information, contact:

Scott Brunsdon or Carson Rife

Revett Minerals, 509-921-2294