Rimfire Pacific Mining (ASX: RIM, 'Rimfire' or 'the Company') is pleased to advise that assays received for the remaining three diamond holes drilled at the Melrose prospect has intersected further high-grade nickel (Ni), cobalt (Co) and scandium (Sc) mineralisation at shallow depths within weathered ultramafic rocks.

Commenting on the announcement, Rimfire's Managing Director Mr David Hutton said: 'Rimfire remains focussed on discovering high-value critical minerals such as nickel, cobalt, scandium, and PGEs on our projects in NSW. The latest diamond drill results confirm the initial aircore drilling results and highlight Melrose as a significant nickel cobalt scandium opportunity for the Company and its shareholders. The mineralisation remains open along strike and further drilling is planned to determine the extents of the mineralised zone.'

The three remaining diamond holes at Melrose have reported assays including; 2.3m @ 0.15% Ni, 0.08% Co and 461ppm Sc from 3 metres and 5.0m @ 0.68% Ni, 0.07% Co and 302ppm Sc from 16 metres in FI2398

4.9m @ 0.36% Ni, 0.11% Co and 349ppm Sc from 5 metres, and 4.3m @ 0.42% Ni, 0.09% Co and 296ppm Sc from 10.1 metres in FI2399

10.0m @ 0.14% Ni, 0.10% Co and 456ppm Sc from 1 metre in FI2400 including 5m @ 0.17% Ni, 0.17% Co and 568ppm Sc from 5 metres

The latest results follow the previously reported drill intersection;

21m @ 0.11% Ni, 0.07% Co, and 529ppm Sc from 3 metres in FI2397 including 9m @ 0.17% Ni, 0.15% Co and 688ppm Sc from 14 metres

Melrose is a prospect within the Company's Avondale Earn In Project and is located 70 kilometres northwest of Parkes within the highly prospective Lachlan Orogen of central New South Wales.

Four diamond holes (FI2397 to FI2400 - 639.6 metres, were drilled in June

July 2022, to better understand the geological setting and potential economic significance of a flat - lying ferruginous (laterite) zone that overlies ultramafic bedrock at Melrose.

Initial aircore drilling by Rimfire in early 2022 (see Rimfire's ASX Announcement dated 4 April 2022) identified anomalous nickel, cobalt, and scandium within the laterite zone.

FI2163 - 12m @ 0.23% Ni, 0.11% Co, and 314ppm Sc from 9 metres,

FI2164 - 9m @ 0.50% Ni, 0.02% Co, and 209ppm Sc from 6 metres,

FI2174 - 12m @ 0.32% Ni, 0.12% Co, and 221ppm Sc from 3 metres,

FI2175 - 3m @ 0.24% Ni, 0.07% Co, and 220ppm Sc from surface,

FI2176 - 9m @ 0.17% Ni, 0.10% Co, and 362ppm Sc from 3 metres, and

FI2178 - 18m @ 0.10% Ni, 0.04% Co, and 286ppm Sc from 3 metres.

Significantly resampling of selected samples from the aircore drilling showed that laterite zone also contains anomalous levels of platinum (Pt) + palladium (Pd) (PGEs) up to 0.31 g/t Pt + Pd (see Rimfire's ASX Announcement dated 27 June 2022).

All four diamond drillholes passed through the laterite zone before intersecting an east-dipping sequence of interlayered ultramafic rocks (pyroxenite, wehrlite, and serpentinised dunite) that is fault bounded against a gabbro to east and volcaniclastic sediments to the west.

The flat - lying ferruginous (laterite) zone, which is best developed over the pyroxenite rock types has an average thickness of approximately 15 metres and increases in thickness to the west.

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'.

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'

Contact:

E: rimfire@rimfire.com.au

WEB: www. rimfire.com.au

T: +61 3 9620 5866

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