Rimfire Pacific Mining (ASX: RIM, 'Rimfire' or the 'Company') advises that it has received two cash call payments totaling $0.55M (see footnote) from its exploration partner - Golden Plains Resources Pty Ltd (GPR) over the last week.

The payments were made under the existing terms of the Avondale Earn In ($0.25M) and Fifield Earn In Agreements ($0.30M) and the Company can confirm that all exploration programs currently planned are continuing as normal. Fifield and Avondale are located 70 kilometres northwest of Parkes within the highly prospective Lachlan Orogen of New South Wales (Figure 1). As previously announced, Rimfire and GPR have recently executed a Binding Heads of Agreement to vary and simplify the current Fifield Project Earn-in (see Rimfire's ASX Announcement dated 30 June 2022).

Under the Heads of Agreement, GPR agreed to pay $2M cash (comprising $1.5M directly to Rimfire for its own use ('Rimfire Corporate Payment') and $0.5M for additional expenditure under the Fifield Earn In 'Additional Expenditure Payment'), which is in addition to remaining exploration payments of $1.5M due under the current Fifield Earn In agreement. The remaining Fifield Earn In agreement exploration amount of $1.5M due has been reduced by the $0.30M to $1.2M following receipt of the recent cash call payment from GPR. Accordingly, a further $3.2M is required from GPR to satisfy the terms of the Binding Heads of Agreement to vary and simplify the current Fifield Project Earn-in.

Rimfire and GPR have agreed to vary the timing of the Schedule of Payments from that originally included in Rimfire's ASX Announcement dated 30 June 2022 to that shown in Table 1. The variation to the Schedule of Payments has arisen at the request of GPR to which Rimfire has agreed. Although the payment schedule has been delayed, if further payments are not received by the scheduled dates, the Company's rights are protected under the relevant agreements. Upon receipt of all moneys ($3.2M in total) on or about 30th November 2022, GPR will secure an additional 9.9% interest in the Fifield Project (60% in total) and Rimfire will waive the requirement under the current Earn In Agreement for GPR to provide funding to Rimfire for a development project (as per Rimfire's ASX Announcement dated 30 June 2022).

Contact:

David Hutton

Managing Director

P: +61 417 974 843

Greg Keane

CEO CFO

Investor Relations

P: +61 497 805 918

About Rimfire

Rimfire Pacific Mining Limited (ASX: RIM) is an ASX-listed exploration company focused on exploring for critical minerals within the Lachlan Orogen and Broken Hill districts of NSW. Rimfire currently has two projects in the Lachlan Orogen which are being funded by Rimfire's exploration partner - Golden Plains Resources (GPR): Avondale Project (GPR earning up to 75%)* & Fifield Project (GPR earning up to 60%) Both projects are prospective for Critical Materials (PGEs, Nickel, Copper? & Cobalt) - which are essential for renewable energy, electrification, and green technologies. The development ready Sunrise Energy Metals Ni-Co-Sc Project (ASX: SRL) is? adjacent to both projects. The Fifield Project hosts the historical Platina Lead mine, the largest producer of? Platinum in Australia

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 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 as the case may be, 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'.

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