Rimfire Minerals Corporation

Rimfire Minerals Corporation

March 11, 2009 09:00 ET

Rimfire and Inmet Commence Drilling in the Lachlan Fold Belt, Australia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 11, 2009) - (All figures in Australian dollars) - Rimfire Minerals Corporation (TSX VENTURE:RFM) is pleased to report that crews have been mobilized for the 2009 drilling program at the Barmedman project in New South Wales, Australia. The program will consist of four diamond drill holes totalling 1200 metres to test a buried 2.4 km by 0.5 km Induced Polarization (IP) chargeability anomaly identified in 2008. Drilling is underway and is being funded by Inmet Mining Corporation.

The Barmedman Property was one of nine exploration licenses acquired in 2007 based on targets identified in a Neural Network study conducted on a 120,000 km2 area within the Lachlan Fold Belt in New South Wales. It is located in a corridor of regionally-extensive alteration and clusters of both copper-gold porphyry and high-sulfidation gold occurrences and deposits including prospects adjacent to the Barmedman that have seen recent drilling. Rimfire completed IP geophysical surveys and MMI geochemical surveys over the core of the Barmedman Neural Network target in 2008 which resulted in the identification of the 2.4 km by 0.5 km IP chargeability high anomaly and a coincident copper-gold Mobile Metal Ion (MMI) geochemical anomaly. The IP anomaly occurs in an area of no outcrop with significant overburden cover and has not been tested by previous drilling. Holes will be collared on 400 metre step-outs to test 1200 metres of strike extent of the anomaly to investigate whether it reflects buried copper-gold mineralization. In addition to drilling, further geochemical sampling including pH and partial leach geochemical surveys are being contemplated to investigate the entire 388 km2 property.

"We believe the Lachlan Fold Belt is very prospective for copper-gold deposits," stated Jason Weber. "The Neural Network study has enabled us to target covered areas within the belt, such as Barmedman. We are excited about drilling this target because it is located adjacent to the eastern edge of a belt of high-sulphidation copper-gold deposits and porphyry copper-gold prospects anchored by the Gidgenbung Mine, a past-producer of 700,000 ounces of gold located 20 kilometres south of the property. This belt trends north through the Yiddah copper-gold porphyry prospect located 2 kilometres east of the Barmedman IP target where Goldminco recently announced a drillhole intersection of 53 metres averaging 0.45 % copper and 0.38 g/t gold."

Inmet is funding the program under the terms of the recently signed option agreement. The terms of the agreement give Inmet the option to earn a 60% interest by funding at least $5 million in exploration on the property over four years, including $400,000 in the first year. Inmet will make staged cash payments totalling $250,000 over the earn-in period.

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

About Rimfire

Rimfire Minerals Corporation is an aggressive, well-financed mineral exploration company with a portfolio of highly prospective gold and copper properties in western North America and Australia. Rimfire currently has in excess of two years of operating capital and finances approximately 80% of its exploration through option and joint venture agreements. Current and former partners include AngloGold Ashanti Limited, Barrick Gold Corporation, Newmont Mining Company, Inmet Mining Corporation, Northgate Minerals Corporation, Fronteer Development Group Inc., Rubicon Minerals Corporation, American Creek Resources Ltd., Island Arc Exploration Corporation, Jaguar Minerals Limited and BWG.

On behalf of Rimfire Minerals Corporation

Jason Weber, P.Geo., President & CEO

CAUTIONARY STATEMENT: This News Release includes certain "forward-looking statements". Other than statements of historical fact, all statements included in this release, including, without limitation, statements regarding future plans and objectives of Rimfire Minerals Corporation, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Rimfire's expectations are the risks detailed herein and from time to time in the filings made by Rimfire Minerals Corporation with securities regulators. Those filings can be found on the Internet at http://www.sedar.com and http://www.sec.gov/edgar/searchedgar/companysearch.html.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contact Information