Mr. John Shanahan reports

REVETT ANNOUNCES SHARE CONSOLIDATION AS IT SEEKS STOCK EXCHANGE LISTING IN THE USA

Revett Minerals Inc. will consolidate (reverse stock split) its common shares on a one-to-five basis. The consolidation will be effective for trading purposes on Nov. 19, 2010.

Shareholders voted in favour of a share consolidation at the annual and special meeting held on June 16, 2010, giving the board authority to implement a share consolidation. The board decided to implement the share consolidation for the purpose of seeking a stock exchange listing in the United States. The company will remain listed on the Toronto Stock Exchange. Following the consolidation, the total issued and outstanding common shares of the company is 32,421,636 basic and 36,069,436 fully diluted.

A letter of transmittal is being mailed to registered shareholders today. Registered shareholders wishing to receive a new share certificate evidencing their postconsolidation shares must complete the letter of transmittal and follow the instructions contained in the letter of transmittal. Shareholders owning shares through a broker or other nominee will have their positions automatically adjusted and will not be required to take any action in connection with the share consolidation.

Revett recently announced third-quarter earnings of two-U.S.-cents per share from the generation of $4.2-million (U.S.) operating cash flow from the Troy mine. The company has also recently announced completion of its debt restructuring program and is now free of corporate debt.

John Shanahan, president and chief executive officer, stated, "The stock exchange listing that we are pursuing in the United States marks the completion of our corporate restructuring efforts and paves the way for us to reach a broader base of institutional and retail investors while complimenting our current TSX listing."