Rimfire Minerals Corporation
TSX VENTURE : RFM

Rimfire Minerals Corporation

January 19, 2006 15:31 ET

Rimfire Acquires Pogo Area Land Package

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 19, 2006) - David Caulfield, President and CEO of Rimfire Minerals Corporation (TSX VENTURE:RFM) is pleased to report that the Company has staked an additional 442 sq. km (110,000 acres) of strategically located claims in the Pogo Area of the Goodpaster District of Alaska. The Goodpaster District is home to Teck Cominco/Sumitomo's Pogo Mine (4.5 M oz. in reserves and resources) which is slated to commence gold production in the first quarter of 2006. Rimfire is now the largest landholder in the District, with claims covering 740 sq. km (182,800 acres). This includes claims in joint venture with AngloGold Ashanti on the Eagle and ER projects covering a combined 107 sq. km (26,320 acres).

"We were aggressive in acquiring claims in this new gold belt due to its outstanding exploration potential. Teck Cominco has identified numerous high grade gold prospects over a 12 kilometre trend on its Pogo Property and AngloGold Ashanti subsequently made a new high grade gold discovery in the same area in 2005," stated Mark Baknes, VP Exploration for Rimfire Minerals Corporation. "These new discoveries underscore that the Pogo area is developing into an important gold district."

Rimfire has maintained a presence in the Goodpaster District since 1998 when the Company first acquired a geologically focused land position following Teck Cominco's initial public disclosure of the Pogo discovery. Subsequently, AngloGold Ashanti announced a new gold discovery on its wholly-owned LMS Property in a presentation at the Alaska Miners Association convention in November 2005. AngloGold reported intersecting mineralization at the LMS in multiple holes including an intercept of 3.4 metres of 21.5 g/t gold. The LMS is described as being very similar in its style of mineralization and alteration to the orebodies at the Pogo Mine, 40 kilometres to the northeast.

Following the AngloGold Ashanti announcement, Rimfire's technical team revisited its district-wide compilation for the Goodpaster area, updated it with new publicly-available geoscience data and prioritized staking targets.

Goodpaster District Background

Teck Cominco expects that the Pogo Mine will produce 350,000 to 500,000 ounces gold per annum when in full production later this year. Rimfire believes that their exploration potential is considerable given that the current mine reserve comes from the Liese veins, located at the northwest end of a series of gold occurrences, termed the Pogo Trend, stretching 12 kilometres to the southeast.

Past work on ground held by Rimfire includes diamond drilling that identified mineralization exhibiting many characteristics associated with the Pogo Deposit including alteration style, metal associations and relationship with Cretaceous-aged granitic intrusions. Prospects such as the Boundary and ER returned numerous gold-bearing quartz vein intersections in limited drilling, similar to the quartz veining known to exist proximal to the orebodies at Pogo.

"It is a rare opportunity for a junior explorer to acquire a large land position in an emerging gold district," stated David Caulfield, President and CEO of Rimfire Minerals Corporation. "Rimfire is now positioned as the dominant claimholder in North America's newest gold camp."

Rimfire Minerals Corporation is an aggressive, well-financed mineral exploration company with a portfolio of highly prospective gold and silver properties in western North America. Rimfire is partnered with AngloGold (U.S.A.) Exploration Inc., Barrick Gold Corporation, Newmont Mining Company, Northgate Minerals Corporation, Cangold Limited and Serengeti Resources Inc.

On behalf of Rimfire Minerals Corporation

David A. Caulfield, President


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