Rimfire Pacific Mining (ASX: RIM, 'Rimfire' or 'the Company') is pleased to advise that a recently completed review has confirmed that the wholly - owned Currajong Prospect represents a new high-grade scandium opportunity for the company and its shareholders.

Currajong is located within Australia's scandium epicentre at Fifield, approximately 70 km NW of Parkes at Fifield in central NSW

Commenting on the announcement, Rimfire's Managing Director Mr David Hutton said: 'Our geologists have recently completed a review of the historic Currajong nickel cobalt PGE prospect and found that while less than half of the historic drilling was assayed for scandium, there was still sufficient data to show that Currajong represents a new high-grade scandium opportunity for Rimfire and its shareholders. We believe that in conjunction with the Mineral Resource estimates at Melrose and Murga North, and the Murga Exploration Target, Currajong will make a significant contribution to the Company achieving its stated aim of building a globally significant scandium resource inventory at Fifield. Subject to receipt of remaining regulatory approvals we look forward to commencing an extensive air core drill program (up to 200 holes / 10,000m) at Currajong in late February 2025'.

The Currajong Scandium Prospect

Currajong (also referred to a 'Avondale') has not previously been specifically explored for scandium with historic exploration focussed on nickel, cobalt and platinum and palladium. While Currajong remains prospective for these other commodities, Rimfire is focussed on the prospect's scandium potential given the Company's objective of building a globally significant scandium resource inventory at Fifield. Of the 209 historic wide - spaced air core, RAB and reverse circulation holes previously drilled at Currajong only 40% [85 holes] of them have been assayed for scandium with most of these holes lying in the southern half of the prospect. From the holes that were assayed for scandium, multiple drill intercepts were returned; As shown on Figures 4 and 5, the drill data has defined (using a +100ppm Sc contour) a shallow 1,000 metre x 302 metre zone of scandium that overlies the southern end of a 2.4-kilometre-long north-south trending ultramafic belt [the 'Currajong Ultramafic'] that remains open both laterally and along strike. Magnetic imagery and previous drilling show that the Currajong Ultramafic comprises a steeply - dipping interlayered sequence of ultramafic, mafic and sedimentary rocks. There appears to be two parallel trending ultramafic units that converge at the southern end underneath the scandium zone. While historic drilling [on nominal 50 - 80 metre spacings] has focussed on the southern end of the easternmost ultramafic, several isolated scandium intercepts along strike to the north coupled a relative lack of drilling highlights the excellent potential to extend the scandium mineralisation especially to the north and northwest. An examination of geological data and air core chip trays suggests that the scandium mineralisation at Currajong occurs within and towards the base [lower saprolite] of strongly weathered ultramafic rock types

To evaluate the area north of the southern scandium zone, Rimfire is planning to drill multiple traverses of air core holes over the entire length of the Currajong Ultramafic. An initial 100 vertical (5,000 metres) holes will be drilled every 50 metres along 100 - 200 metre spaced traverses with a further 100 holes (5,000 metres) planned as infill holes if favourable geology and assays warrant it. Traverses will extend beyond the ultramafic units because it is believed that scandium distribution in the weathered rocks can extend laterally past the boundaries of the ultramafic rocks. Rimfire has executed Land Access Agreements with all relevant property owners and subject to receipt of remaining regulatory approvals, the drilling is scheduled to start by the end of February 2025 so that the drilling activities and rehabilitation are all complete by late April 2025 to allow for cropping activities to commence. Following the completion of the Currajong drilling, it is anticipated that air core drilling of the Murga Exploration Target will resume. Recent drilling by Rimfire at Murga has confirmed the presence of scandium source rocks (pyroxenite) and identified large areas within the boundaries of the Murga Exploration Target where anomalous drill intercepts and prospective magnetic anomalies require follow-up and / or initial drill testing. Rimfire originally planned to resume Murga drilling during the March 2025 Quarter but given agricultural cropping constraints at Currajong which don't apply to Murga, the decision has been made to expedite the Currajong drilling while access is available. The air core drilling will be sole funded by Rimfire with the results to underpin the planning of further drilling and (if successful) the generation of a maiden Mineral Resource estimate for Currajong.

Rimfire also confirms that it is not aware of any new information or data that materially affects the information included in the 9 September 2024 ASX announcement, and that all material assumptions and technical parameters underpinning the estimates in that ASX announcement continue to apply and have not materially changed. In addition, Rimfire has previously announced an Exploration Target for the broader Murga area (excluding the Murga North Mineral Resource). It is based on an outline of the scandium-bearing pyroxenite interpreted from aeromagnetic data and results of Rimfire's 2024 reconnaissance air core drilling (on nominal 400m x 400m centres) throughout the Murga area. Throughout the Exploration Target an average thickness of 15 metres has been assumed along with a default density of 2.15t/m3. However, it is unknown at this stage if the whole area will have reasonable prospects for eventual extraction so it has been assumed that only 50% of the area within the pyroxenite outline will be classified as the Exploration Target. The Exploration Target for the broader Murga area is: 100 to 200Mt at 100 to 200ppm Sc (15Kt - 46Kt Scandium Oxide) (Rimfire ASX Announcement dated 9 September 2024). Cautionary Statement: The potential quantity and grade of the Exploration Target is conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Drilling at Murga aims to underpin the conversion of the Murga Exploration Target to a Mineral Resource estimate by the end of the 2024/2025 Financial Year.

Competent Persons Declaration

The information in the report to which this statement is attached that relates to Exploration and Resource Results is based on information reviewed and/or compiled by David Hutton who is deemed to be a Competent Person and is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Hutton has over 30 years' experience in the minerals industry and is the Managing Director and CEO of Rimfire Pacific Mining. Mr Hutton has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent

Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Hutton consents to the inclusion of the matters based on the information in the form and context in which it appears. The data in this report that relates to Mineral Resource estimates and Exploration Target is based on information evaluated by Mr Simon Tear who is a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM) and who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the 'JORC Code'). Mr Tear is a Director of H&S Consultants Pty Ltd, and he consents to the inclusion in the report of the Mineral Resources and Exploration Target in the form and context in which they appear.

Forward looking statements Disclaimer

This document contains 'forward looking statements' as defined or implied in common law and within the meaning of the Corporations Law. Such forward looking statements may include, without limitation, (1) estimates of future capital expenditure; (2) estimates of future cash costs; (3) statements regarding future exploration results and goals. Where the Company or any of its officers or Directors or representatives expresses an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and the Company or its officers or Directors or representatives, believe to have a reasonable basis for implying such an expectation or belief. However, forward looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward looking statements. Such risks include, but are not limited to, commodity price fluctuation, currency fluctuation, political and operational risks, governmental regulations and judicial outcomes, financial markets, and availability of key personnel. The Company does not undertake any obligation to publicly release revisions to any 'forward looking statement'.

Contact:

Email: rimfire@rimfire.com.au

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