Revett Minerals (NYSE-Amex: RVM; TSX: RVM) further discusses the November 16, 2011 opinion (www.ca9.uscourts.gov/datastore/opinions/2011/11/16/10-35596.pdf) issued by United States Court of Appeals Ninth Circuit, which upheld the May 2010 decision dismissing Endangered Species Act (ESA) challenges to the Company’s proposed Rock Creek silver and copper mine in northwest Montana.
The Company is currently working with the U.S. Forest Service to complete a Supplemental Environmental Impact Statement (SEIS) which will incorporate latest available project information and address administrative issues raised in the District Court’s May 2010 ruling. The Company anticipates release of the SEIS by mid 2012 and hopes to receive a revised Record of Decision (RoD) in late 2012. And while the Company believes that it cannot rule out further litigation once the revised RoD has been issued, it does believe that legal action is limited now that major issues such as the Endangered Species Act have been conclusively addressed. Upon the issuance of a revised RoD, along with the issuance of an individual MPDES storm water discharge permit for construction activities from the Montana DEQ, the company is planning for development of the Phase I evaluation adit in mid 2013.
