Mr. John Shanahan reports

REVETT PROVIDES Q1 2011 OPERATIONS UPDATE

Revett Minerals Inc.'s first-quarter 2011 production from its Troy mine in northwestern Montana is at 245,068 ounces of silver and nearly two million pounds of copper. Production was lower and costs were higher than the same period a year ago, primarily due to transitioning much of the mining to the newly developed, higher-grade C Bed area. The 18 per cent and 14 per cent higher grades of silver and copper, respectively, in the C Bed area are the basis of Revett's guidance for 2011 annual silver production of 1.3 million ounces, up from one million ounces of silver produced in 2010.

John Shanahan, president and chief executive officer, said: "We have seen continued improvements in ore production in the first quarter during this transition period, and now that the C Bed development is completed, we are poised for further improvements in the second quarter of 2011. Already in April, we have seen the average mill throughput increase to 3,700 short tons per day (stpd), up from January's average of 3,114 stpd. Our goal is to average 4,000 stpd for the year. That production level combined with the higher ore grades from the C Bed are the drivers for our increased silver production guidance for this year. We also remain focused on our exploration and engineering efforts to add value, expand the mine life and realize the longer-term potential of the Troy mine."

Highlights:

• The C bed development, including the installation of a ventilation and secondary escape way raise, was completed by quarter's end. Ore production and metal grades from the C bed area are on track with estimates.
• Net cash (1) provided from operations before capital expenditures for the first quarter of 2011 equalled net cash from the same period a year ago at $3.2-million (U.S.), with higher metals prices offsetting the lower production and higher costs caused by C bed development and ramp-up activities.
• Mill feed for the three months ended March 31, 2011, compared with the first quarter of 2010 was lower at 3,277 stpd, with higher metal grades of 1.02 ounces per ton silver (Ag) and 0.44 per cent copper (Cu), versus 2010 first-quarter throughput at 4,265 stpd with metal grades of 0.86 ounce per ton Ag and 0.38 per cent Cu.
• Cash costs (2) for the first quarter of 2011, calculated on a net of byproduct basis, was $11.99 per ounce silver and $2.05 per pound copper.
• Exploration efforts continued in and around the Troy mine with anomalous copper and silver mineralization intersected during corehole drilling in the I beds beneath the North orebody.

                                                           First      First
                                                         quarter    quarter
Troy production summary(3)  January February    March       2011       2010
Mill production

Mill feed (short tons)       93,428   91,762  106,500    291,690    379,592
Mill feed rate        
(short tons per day)          3,114    3,277    3,435      3,277      4,265
Silver

Feed grade (ounce per ton)     1.03     0.97     1.06       1.02       0.86
Mill recovery                 81.75%   82.63%   82.12%     82.15%     87.49%
Recovered ounces             78,579   73,867   92,622    245,068    287,259
Copper

Feed grade %                   0.48%    0.40%    0.44%      0.44%      0.38%
Mill recovery                 76.80%   78.35%   78.31%     77.79%     85.05%
Recovered pounds            684,070   575,287 739,053  1,998,410  2,456,190
Cash cost(2)

Direct operating cost per
ton (U.S. dollars)           $33.18   $31.61   $34.66     $33.23     $22.99
Byproduct basis
(payable)
Silver ($U.S. per ounce)      $9.09    $6.53   $18.81     $11.99      $5.39
Copper ($U.S. per pound)      $1.99    $1.53    $2.51      $2.05      $1.83
Co-Product Basis
(payable)
Silver ($U.S. per ounce)     $18.08   $19.42   $20.64     $19.37     $12.38
Copper ($U.S. per pound)      $2.71    $2.84    $2.71      $2.76      $2.30

1. Net cash before capital expenditures is a non-generally accepted accounting 
   principles measure. The company believes that net cash provided from operations
   is a benchmark for performance, and is well understood and widely reported 
   in the mining industry.
2. All cash costs include direct mine-site costs, and smelting, refining and
   transport costs. Average commodity prices used to offset (byproduct
   credit basis) or allocate (co-product basis) cash costs are the monthly
   weighted average realized prices based on invoiced shipments. Cash costs
   per payable ounce of silver or payable pound of copper is a non-GAAP
   measure. The company believes that, in addition to cost of sales, cash
   costs per ounce and per pound are a useful and complementary benchmark
   for performance, and is well understood and widely reported in the mining
   industry. However, cash costs per ounce do not have a standardized
   meaning prescribed by Canadian GAAP. Investors are cautioned that cash
   costs per ounce or per pound should not be construed as an alternative to
   cost of sales determined in accordance with Canadian GAAP as an indicator
   of performance. The company's method of calculating cash costs per ounce
   or per pound may differ from the methods used by other entities and,
   accordingly, the company's cash costs per ounce or per pound may not be
   comparable with similarly titled measures used by other entities.
3. Production statistics are on a 100-per-cent basis.

In addition to the ramp-up of mining in the C bed area, ore production during the first quarter was impacted by continuing development work in the East orebody, including pressure grouting to allow access through a fault zone. Another factor contributing to decreased production was lower ore recoveries in the first quarter of 2011. Metallurgical testwork is continuing to determine the cause and adjust the mill recovery process.

Troy development update

Drilling continued targeting expansion of the I bed mineralization in the North orebody area with anomalous bornite mineralization containing silver and copper encountered in recent drilling. Follow-up drilling will continue in the North orebody area to further define this I bed target. As was announced in a news release issued on Feb. 8, 2011, prior drilling in the South orebody area defined more than four million minable tons containing over four million ounces of silver and 21 million pounds of copper.

Adding to the Troy mine long-term exploration pipeline are targets outside the current mine footprint. An independent review of prior geophysical survey work was completed during the first quarter, with several targets identified around the Troy mine. Additional geophysical work is planned for completion this summer.

Release of quarterly financial results and conference call

Revett plans to release full financial results for the first quarter on Thursday, May 12, 2011, and hold its quarterly conference call on Tuesday, May 17, 2011, at 11 a.m. ET. To join the conference call, dial 1-877-974-0445 or 416-644-3425 internationally.

We seek Safe Harbor.