Revett Announces Discovery of New Mineralization at Troy

Spokane Valley, Washington (July 10, 2007) - Revett Minerals Inc. (TSX-RVM) ("Revett" or the "Company") is pleased to announce that it has obtained encouraging preliminary results from its underground Diamond drill program at its Troy Mine in Montana.  This program was designed to explore the area below the currently defined mineral reserve in an effort to extend the current 6 year life of the operation. Preliminary results from the 2006/2007 Revett drilling program confirm four mineralized horizons, including a previously unknown higher grade zone in the Lower Revett Formation.  Revett expects to complete a new resource estimate for these horizons prior to year end.

William Orchow, President and CEO of Revett, stated "We are very excited about the results so far in our exploration efforts at Troy.  Of particular importance is the fact that three new zones of mineralization, with sufficient thickness and grade to potentially warrant development, have been discovered below the present mine workings. The discovery of these mineralized beds offers us the opportunity to phase our mine development to depth below the current mining areas rather than undertaking a larger development project to access the "I-Beds" in the future. These results, coupled with the potential of the 2007 surface program on the extensive "I-Bed" target, bode well for our future at Troy."

Program Highlights

• Discovery of 3 new mineralized horizons in the Lower Revett Formation at Troy; the "A, B & C Beds" (labeled downward stratigraphically).
  • Higher grade "C-Beds" include intercepts of 22 feet @ 0.63% Cu & 2.15 opt Ag and 16 feet @ 0.62% Cu & 1.80opt Ag, approximately 370 feet below the current mine workings.
  • Compares to the current reserve grade of 0.55% Cu & 1.15 opt Ag.
    Confirmed "I Bed" mineralization below the existing Troy Mine workings, approximately 1,170 feet below the current mine workings.
• Initiated 2007 surface drilling program.
  • Surface program is designed to define continuity of the "I-Beds" between the Troy Mine Complex and the JF Property to the south.

Lower Revett Formation

The 2006/2007 underground program has intercepted strata-bound copper/silver mineralization in the "A, B, C and I-Beds" of the Lower Revett Formation, ranging from 180 to 1,170 feet below the Troy Mine workings (which are primarily hosted in the Middle Quartzite of the Upper Revett Formation).  The drilling covers an area 600 feet wide by 2,000 feet long.  The Company's Rock Creek development project is hosted in upper quartzite units of the Lower Revett Formation, specifically the "A, C & E -Beds", and the Company believes the drilling has confirmed the presence of ore grade mineralization in the "A & C -Beds" at Troy. 

The prior operator of the Troy Mine, ASARCO Inc. ("ASARCO"), had drilled several holes into the "I-Beds" beneath and adjacent to the mine that returned copper and silver mineralization over a broad area. In 2006, the Company began testing the Lower Revett to follow up on these findings with encouraging results to date as well as positive results in the "A, B, and C Beds".

Lower Revett Formation "A-Bed" Drill Results

Depth below Mine Workings: 180'.

Upper Revett Formation

The drilling program has also intercepted strata-bound copper/silver mineralization in the "Lower Quartzite" of the Upper Revett Formation, 25 to 30 feet stratigraphically below the Troy ore body.  ASARCO had drilled and mined the "Lower Quartzite" at the Troy Mine. In 2006 and 2007, the Company tested the Lower Quartzite to expand the known reserve/resource.

Troy Upper Revett Formation "Lower Quartzite" Drill Results

Depth below primary Mine Workings: 30'.

Core samples were collected under the direct supervision of Revett personnel and stored at a secure storage facility at the Troy Mine. Detailed geologic logging identified the mineralized intervals sampled. All the samples were taken from NC cores (~2") that were sawed in half. In general two foot intervals were sampled. All samples were analyzed for copper, silver and lead using atomic absorption spectrometry. Any samples with silver values greater than 0.40 ounces per ton were fire assayed. A total of 998 samples were taken from intercepts in drill holes SL-150 through SL-156.

Revett has submitted reference samples to American Analytical Services and Chris Christopherson Inc. for Quality Assurance /Quality Control. Typical ore grade material and mine tailing (waste) material are used as reference samples. Approximately one in twenty samples is a reference sample and 10% of the core sample results are checked at the Genesis-Troy Mine lab.

About Revett

Revett, through its subsidiaries, owns and operates the Troy Mine, and the development stage Rock Creek Project, both of which are located in northwestern Montana, USA.  These projects host significant copper and silver mineral reserves and resources and will form the basis of our plan to become a solid mid-tier base and precious metals producer in the future.  The Company plans on expanding its production through exploration in and around its current properties, as well as through targeted business combinations of advanced staged projects.
 
William Orchow
President & CEO

For more information, please contact:
Scott Brunsdon, CFO or Doug Ward, VP Corporate Development at (509) 921-2294

Renmark Financial Communications Inc.
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Tel. : (514) 939-3989
Fax : (514) 939-3717
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THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS REGARDING THE COMPANY'S PLAN TO UNDERTAKE AN EXTENSIVE EXPLORATION PROGRAM IN THE TROY MINE AREA. THIS PROGRAM WILL BE DEPENDANT UPON OBTAINING THE REQUIRED PERMITS AND THE COMPANY CONTINUING TO PROVIDE THE FUNDS REQUIRED TO UNDERTAKE THIS WORK. IN ADDITION, THE HISTORICAL RESOURCE IDENTIFIED FOR THE JF DEPOSIT WAS DETERMINED USING INFORMATION OBTAINED BY THE COMPANY FROM ASARCO AND SUCH INFORMATION HAS NOT BEEN VERIFIED BY THE COMPANY AS TO ITS ACCURACY. AS SUCH, THE RESOURCE IS NOT IN COMPLIANCE WITH NATIONAL INSTRUMENT 43-101. THE FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESS RELEASE REPRESENT THE COMPANY'S VIEWS AND EXPECTATIONS AS OF THE DATE OF THIS PRESS RELEASE AND SHOULD NOT BE RELIED UPON AS REPRESENTING THE COMPANY'S VIEWS AND EXPECTATIONS AS OF A SUBSEQUENT DATE.