Rimfire Minerals Corporation

Rimfire Minerals Corporation

June 11, 2008 09:25 ET

Inmet and Rimfire Plan Grizzly Exploration

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 11, 2008) - Rimfire Minerals Corporation (TSX VENTURE:RFM) is pleased to report that Rimfire and Inmet Mining Corporation have signed a formal option agreement pertaining to a Letter of Intent (see PR08-04, January 31, 2008) granting Inmet an option to explore the Grizzly Property in northwestern British Columbia. The 2008 exploration program is scheduled to commence in late June. Rimfire, the project operator, has outlined a two phase program including Induced Polarization (IP) geophysical surveying, soil geochemical sampling, prospecting and geological mapping in the first phase. The results of this phase will be used to target diamond drilling in the second phase program in late summer or early fall.

"Inmet and Rimfire are undertaking a comprehensive examination of the entire Grizzly property," said Jason Weber, President and CEO of Rimfire Minerals. "We already have one very compelling target for drilling at the Grizzly Showing, but we want to cover the rest of the property to see what other targets may be present prior to drilling later this year."

The Grizzly Property is approximately 50 kilometres east of the Galore Creek project and within four kilometres of the partially completed Galore Creek access road. The Grizzly copper-gold porphyry target shows many similarities to Galore Creek, including its geological setting, volcanic host rock geochemistry, regional magnetic and gravity geophysical signatures, hydrothermal alteration and metal signature. Rimfire re-sampled old trenches in 2006. The best result included 38 metres averaging 0.74% copper and 1.1 g/t gold from a continuous chip sample. The Grizzly showings occur within a one square kilometre copper, gold and molybdenum-in-soil geochemical anomaly. A second area of anomalous copper, gold and molybdenum soil geochemistry (the Mirko Grid) lies approximately two kilometres northwest.

Under the terms of the agreement, Inmet Mining may earn up to a 60% interest by funding at least $5 million in exploration at the Grizzly over four years, including $800,000 in the first year. Inmet Mining Corporation will make staged cash payments totalling $250,000 over the earn-in period, with $50,000 having been paid upon signing the letter of intent.

This news release has been reviewed by Mark Baknes, M.Sc., P.Geo., a Qualified Person for the purpose of National Instrument 43-101.

About Rimfire

Rimfire Minerals Corporation is a mineral exploration company with an extensive portfolio of highly prospective gold and silver properties in western North America. Rimfire Minerals is well financed and maintains an aggressive approach to exploration. Current and former partners include AngloGold, Ashanti Limited, Barrick Gold Corporation, Newmont Mining Company, Inmet Mining Corporation, Northgate Minerals Corporation, Fronteer Development Group, Rubicon Minerals Corporation, American Creek Resources Ltd., Island Arc Exploration Corporation and BWG.

On behalf of Rimfire Minerals Corporation

Jason Weber, P.Geo., President & CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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