Revett Minerals Reports Resumption of Mining at Troy.
August 15, 2007; Revett Minerals Inc., Spokane Valley, Washington (TSX-RVM) ("Revett" or the "Company") reports that on Wednesday August 8, 2007 milling operations resumed at its 67% Troy Mine located in northwestern Montana. On Friday August 10, 2007, representatives of the Mine Safety and Health Administration ("MSHA") approved the resumption of mining activities in most areas of the mine. The immediate area of the ground fall will be isolated from adjacent mining areas resulting in a temporary production shortfall until other mining areas are developed. The ground fall is not expected to impact proven and probable reserves. While production is not yet at the same levels as it was just prior to the accident, production has been improving each day. It is estimated that roughly 600 tons of concentrate production was lost during the shutdown. The Company anticipates that concentrate deliveries to its customers will resume next week.
Mr.
William Orchow, President and CEO of Revett Minerals, stated "We would like to express our gratitude to the representatives of MSHA and our staff for their dedication and perseverance in working around the clock to ensure that safe operations could resume at Troy as quickly as possible."
William Orchow
President & CEO
For more information, please contact:
Scott Brunsdon, CFO or Carson Rife, VP Operations at (509) 921-2294
Renmark Financial Communications Inc.
Jason Roy : jroy@renmarkfinancial.com
Maurice Dagenais : mdagenais@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com
This press release contains forward-looking statements regarding the Company's ability to resume and sustain production at the Troy Mine. Such forward-looking statements assume, among other things, that there are no further major geotechnical problems, that the Mine Safety and Health Administration ("MSHA") remove any existing stop work orders and do not order further mining areas closed, that the workforce safety and training programs continue to be effective, that mechanical availability of the equipment remains at planned levels and that the future prices of silver and copper are such that the mine continues to be economically viable. Actual results may differ materially from those contemplated by the forward-looking statements if any of these assumptions prove incorrect. 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.
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Revett Minerals
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PRODUCER |
CODE : RVM.TO |
ISIN : CA7615051066 |
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Revett is a silver and copper producing company based in United states of america. Its main asset in production is TROY in USA and its main asset in development is ROCK CREEK in USA. |