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REVETT MINERALS Revett Minerals: An Evolving American Success Story After successfully reviving the Troy mine, Revett sets its sights on Rock Creek By Steve Fiscor, Editor-in-Chief At the bottom of the copper trough (1999), a group of private investors pur- chased the Troy mine and the Rock Creek project, which were jointly owned by Asarco (75%) and Kennecott (25%). Shortly afterward, metal prices began to rebound and during June 2004 these for- ward thinking individuals would restart the Troy mine, which had been placed on care and maintenance since 1993. By December the mine and mill were pro- ducing copper and silver. In 2005, the new owners formed Revett Minerals Inc. and took the company public, launching an IPO on the Toronto Stock Exchange. The company's name is derived from the Revett Formation, the host for the strata-bound copper-silver ore body typi- cally found in the region. Revett Minerals owns 100% Revett Silver, which owns the Troy mine and RC (Rock Creek) Resources, Inc. Both properties are locat- ed in northwest Montana near the border with Idaho. As of December 2011, the Troy mine had proven and probable reserves of 64 E&MJ; • JUNE 2012 10.53 million tons grading 1.18 oz/ton silver and 0.47% copper, which equates to 12.44 million oz of silver and 98.87 million lb of copper. The Troy mine cur- rently produces about 1.5 million tons annually and the mill is currently pro- cessing ore at rate of 4,000 tons per day (tpd). Since its restart, significant pro- ductivity and cost improvements have been realized at the Troy mine. Revett's future plans include bringing the Rock Creek project online. When the Troy mine was placed on care and main- tenance, the Rock Creek project was at the permitting stage of a draft Environmental Impact Statement (EIS). Located about 20 miles away, in a lot of ways the proposed Rock Creek operation will resemble the Troy mine. The new mine will use a similar room-and-pillar technique to mine the lower portion of the Revett Formation. A new mill will use the same bulk sulphide process to pro- duce concentrate. Using the experience they have gained over the years at Troy as far as mining operations, milling tech- niques and environmental stewardship, they hope to launch a new state-of-the- art facility. Revett has set an attainable goal of becoming a mid-tier precious and base metals producer. "Our plan is to expand production through exploration in and around our Troy mine and, through fur- ther development of our Rock Creek pro- ject," said John Shanahan, president and CEO, Revett Minerals. "The first quarter of 2012 was another solid and profitable quarter for Revett. Our operations team at the Troy mine continues to provide consistent results and remains focused on meeting our production guidelines. The Troy mine remains our bridge to the development of Rock Creek, providing ever increasing technical expertise, a growing financial base, and an important environmental showcase for responsible development in northwest Montana." In 2012, the Troy mine expects to produce approximately 1.4 million oz of silver and 11.5 million lb of copper. Once a new Record of Decision is issued, www.e-mj.com