Volume Failure on Raid 5 Array - Intel Matrix Storage Console

I was using Intel Matrix Storage Console to manage a RAID 5 volume on my "ICH8R/ICH9R/ICH10R/DO/PCH SATA RAID Controller" (at least that's how it reads in Device Manager), and I was running a RAID 5 volume without issue until I experienced a drive failure a couple weeks ago. All three drives are Seagate, and I warranteed the failed drive. After an extended wait I finally have the refurbished drive back from Seagate. I put the drive back into my machine, wired it up as normal, and now the Intel controller utility (when I first start the machine, following a successful POST) shows 2 member drives, and one non-raid member drive. I entered the utility, and it doesn't give me an option to rebuild the array, only to delete it, which would DELETE the volume AND it's data, which, in my mind, defeats the purpose of RAID 5 altogether.

Now, we come to the point of the issue. The definition in Intel Storage Matrix Console's help for a "failed" array is as follows: "A RAID 5 volume is reported as 'Failed' when more than one member has failed. If this occurs, please follow the procedure shown below. This procedure deletes the failed RAID 5 volume and creates a new RAID 5 volume; it does not recover the failed RAID 5 volume and its data. After the new RAID 5 volume has been created, you must restore the data from backups and install any software that was on the RAID 5 volume."

While I understand the definition, only 1 of my 3 member drives have failed, and honestly, I cannot reasonably afford to lose the data on my array. Intel Storage Matrix Console's help also gives this procedure to recover a degraded array: "In the device pane, right-click on the new non-RAID hard drive and select 'Rebuild to this Hard Drive'." I have no such option. All I have is "Mark as Spare", and "Activate Port LED", since the utility has flagged this as a "FAILED" array.

I've attached a screenshot of exactly how my utility appears, and my System Report exported from Intel Matrix Storage Console follows. I really need to find a way to recover my data, please help me!!!