Hecla to Acquire Revett in $20 Million Stock Deal

SPOKANE VALLEY, WASHINGTON--(Marketwired - March 27, 2015) - Revett Mining Company, Inc. (NYSE MKT:RVM)(TSX:RVM) (Revett) and Hecla Mining Company today announced that they have entered into a merger agreement pursuant to which Hecla will acquire Revett. In the proposed merger, each outstanding common share of Revett will be exchanged for 0.1622 of a common share of Hecla. Based on Hecla's closing price of $3.23 on March 25, 2015 (the day prior to signing the agreement) this represents a 32% premium to Revett's 20 day VWAP (volume weighted average price) through March 25, 2015. The parties currently expect the transaction to close late in the second quarter, 2015. The transaction is subject to approval by Revett shareholders and to the satisfaction of other closing conditions contained in the merger agreement.

Following closing of the merger, Hecla intends to continue to advance permitting of the Rock Creek project. Located in Northwest Montana, Rock Creek is considered one of the largest undeveloped silver and copper deposits in North America. Revett has reported inferred resources of 229 million ounces of silver and 2.0 billion pounds of copper. The project is approximately 50 miles north of Hecla's Lucky Friday Mine in Idaho. A Supplemental Environmental Impact Statement (SEIS) is in process and the U.S. Forest Service schedule indicates that the SEIS will be issued later this year for public comment.

"We are acquiring Revett with an eye to the future, as Rock Creek is a world-class silver-copper deposit that we see becoming another Greens Creek," said Phillips S. Baker, Jr., Hecla's President and CEO. "Our experience of Greens Creek operating in a National Monument in Alaska since 1997 will be invaluable as we take a patient and persistent approach to permitting and then responsibly operating the Rock Creek Mine. Combining this operational expertise with our financial strength, and an unwavering commitment to safety and building strong community relationships, gives us confidence that we are well-positioned to move Rock Creek forward, to the benefit of all stakeholders."