Revett Mining Company Provides 2013 Financial Results

SPOKANE VALLEY, WASHINGTON--(Marketwired - March 27, 2014) - Revett Mining Company, Inc. (NYSE MKT:RVM)(TSX:RVM) ("Revett" or the "Company") is pleased to announce its consolidated operating and financial results for the year ended December 31, 2013. The financial results are based on US GAAP and all currencies are in United States dollars unless otherwise indicated.

Summary:

• Cash and short term investments on hand was $8.0 million as of December 31, 2013.

• The Company's working capital was $10.6 million as of December 31, 2013.

• Ongoing exploration efforts have extended the life-of-mine of the Troy Mine to twelve years. These reserves fully replace the ore mined in 2012.

• The Company continues to advance its I Bed development at the Troy Mine on schedule and within budget and is scheduled to resume limited commercial production in the fourth quarter, 2014.

• Revett continues to progress permitting for the Rock Creek project. On March 17th, 2014 Montana DEQ issued a draft individual MPDES stormwater permit for Phase I construction of the Evaluation Adit and other infrastructure for the Rock Creek Project. We await the issuance of a draft supplemental EIS for interagency review which will lead to a supplemental EIS being issued for public comment.

• On March 26, 2014 the Company announced a private placement for approximately $3.5m. The first tranche for $1.8m closed on March 26, 2014 and a second tranche for approximately $1.7m is expected to close on March 31, 2014.

Consolidated Financial Results

Net loss for the year was $11.6 million or $0.33 per share, compared to a net income of $4.1 million or $0.12 per share for 2012. The decrease in income resulted from the suspension of mining activities at the Troy Mine in late 2012.

Selected Financial Highlights:
	2013	2012
Net Cash from Operations (1)	-	$18.7m
Revenue	-	$59.2m
Working Capital	$10.6m	$28.7m
Net Income (loss)	($11.6m)	$4.1m
EPS (basic)	(0.33)	0.12
EPS (fully diluted)	(0.33)	0.10
Cash & short term investments	$8.0m	$28.3m

1.	Net cash from operations is before capital expenditures and exploration and is a non GAAP measure. The Company believes that net cash from operations is a benchmark for performance and is well understood and widely reported in the mining industry.

John Shanahan, President and CEO noted, "2013 was a very difficult year for Revett, but we remain focused on our efforts to resume operations at Troy as we near completion of our supplemental EIS for Rock Creek. We have a clear path back to production at Troy through our current I Bed development drift which we believe will return us to being a safe and profitable operator. We thank our shareholders, our employees, and the communities of northwest Montana for their patience and support."