Rimfire Minerals Corporation
TSX VENTURE : RFM

Rimfire Minerals Corporation

June 05, 2007 09:36 ET

Rimfire to Raise $6,500,000 by Way of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 5, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

David Caulfield, President and CEO of Rimfire Minerals Corporation (the "Company") (TSX VENTURE:RFM) announces that the Company has negotiated a $6.5 million private placement consisting of flow-through and non-flow-through units. The Company, by way of a non-brokered placement, will issue 600,000 flow-through units at a price of $2.50 for proceeds of $1.5 million and 2,500,000 non flow-through units at a price of $2.00 per unit for proceeds of $5 million.

Each flow through unit consists of one flow-through share and one-half of one non-transferable share purchase warrant. Each non flow-through unit consists of one common share and one non-transferable share purchase warrant. Each whole warrant entitles the holder to purchase, for a period of two years from the closing of the private placement (the "Closing"), one common share at a price of $2.75 per share.

A cash commission of 6% of the total gross proceeds realized from the placement of both the flow-through and non flow-through units is payable in cash or units together with non-transferable Brokers' Warrants in a number equal to 6% of the Units placed. Each Broker's Warrant will entitle the holder to purchase one common share at a price of $2.00 per share for a period of two years from the Closing.

The Units issued on the offering will be subject to a four-month hold with respect to trading in Canada. The closing will occur on or about June 28, 2007. The placement is subject to acceptance of the TSX Venture Exchange.

The proceeds from the private placement financing will be used for exploration of the Company's Wernecke Mountains Project in the Yukon Territory, various properties in British Columbia and for general corporate purposes.

About Rimfire

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 and Australia. Rimfire is partnered with Newmont Mining Company, Northgate Minerals Corporation, Fronteer Development Group, Rubicon Minerals Corporation, Cangold Limited, American Creek Resources Ltd., Island Arc Exploration Corporation, Arcus Development Group Inc. and BWG.

On behalf of Rimfire Minerals Corporation

David A. Caulfield, President

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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

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