RIMFIRE PACIFIC MINING LIMITED — Capital/Financing Update 2016

Jul 14, 2016

rimfire pacific mining nl a.c.n. 006 911 744 ASX Code “RIM” Exchange Tower Suite 411, 530 Little Collins Street Melbourne Victoria Australia. 3000

T 61 3 9620 5866 F 61 3 9620 5822 E rimfire@rimfire.com.au W www.rimfire.com.au

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Friday, 15[th] July 2016 Company Announcement Office Australian Securities Exchange

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“Fortuna” Gold Anomaly established in similar host geology to Sorpresa Drilling to commence early August at Fifield NSW

Rimfire Pacific Mining NL ( ASX codes: RIM, RIMOA ) (“Rimfire” or “The Company”) provides details of extensive surface sampling and mapping to the North of the Sorpresa gold and silver resource, which includes work in the newly defined “ Fortuna gold prospect ”. Important district concepts have emerged enhancing the position for further gold discovery at Fifield.

– Highlights The Fortuna Gold Prospect

• Surface geochemistry confirms a 1.2km x 400m (open) gold anomaly, 3km north of Sorpresa

• The geological context is similar to the Sorpresa discovery area o sheared & brecciated carbonaceous sediment host rocks

• The magnitude and extent of the surface gold geochemistry exceeds Sorpresa for equivalent early stage o There is also silver, arsenic and lead anomalism zoned in places (also found at Sorpresa)

• The intersecting structural setting and arcuate shape strongly suggests an intrusion influence o The potential for a large gold system that may be operating is inferred

• Percussion drilling is scheduled to commence early August (weather and access permitting)

• A series of stratigraphic holes to test subsurface conditions (the area has no prior drilling)

• 7 drill traverses (5 line km), 100m spaced holes, depth to ~50m, infilled as required, giving approx. 50 holes, for 2,500m

– - Highlights Integrated Discovery Model the Potential of the Sorpresa Gold 7km Corridor

• The gold mineralisation model concepts have been further refined within the Sorpresa basin style geology

• Additional targets have been identified, based on geochemistry, geology & geophysics

• Sorpresa basin style geology has been expanded from 11km[2] to 18km[2] . This increased area is considered prospective for gold and silver, and is less than 10% drill tested (Figures 2 & 4 Maps, pages 4 & 6) .

• A prominent North-South corridor 7km x 2km has emerged with multiple targets

• Multimillion ounce gold discovery potential is seen within this area

• The 2016 gravity survey has identified prospective targets under cover to the South of Sorpresa o A 2km long gravity anomaly, potentially represents a repeat of Sorpresa style mineralisation

CEO and Managing Director, John Kaminsky stated:

“Detailed field work to the North of Fifield has identified large gold potential, including the newly identified “ Fortuna Prospect ” gold zone.

“A massive amount of field work has now been assembled giving a compelling 7km long north-south gold corridor orientation inclusive of the Sorpresa resource area.

“Sorpresa was a greenfields discovery with some spectacular gold and silver grades. It had a low level surface gold expression of the order10~50ppb Au and as the first discovery, provides proof of concept for the Fifield area to host multi-million ounces of gold equivalent mineralisation.

“Having examined the geological and mineralising context closely in the Fifield district around Sorpresa, we believe additional discoveries are likely.

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One of the selected
corridors for RC drilling
traverses at Fortuna
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“A comparison between Sorpresa and the Fortuna anomaly, places Fortuna ahead in terms of gold surface geochemistry and scale, at an equivalent early stage of assessment to that of Sorpresa.

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“Whilst this area, like much of Fifield, is very poorly exposed terrain, we are encouraged by the potential of what this new untested area could yield in discovery.

“There is genuine excitement as we prepare to undertake the first reconnaissance drilling at Fortuna. The regolith conditions are a little more complex in the north, so establishing the subsurface geology orientation, auriferous extent and connection to the surface geochemistry are key outcomes we are looking to achieve with the next work program.

“We see the Fortuna mineralising conceptual model providing the potential for a larger upside on the gold mineralisation at this location. At Fortuna, the model may have a closer affinity to a collapsed breccia component surrounding an intrusive at depth. The anomalous gold could be associated with Sorpresa-like black carbonaceous silica incorporated into the broad brecciated margin of a collapsed caldera, based on evidence to date.

“Whilst the Sorpresa gold and silver resource still has growth potential, the Sorpresa mineralisation appears to be more stratigraphically controlled overall, which contrasts to the mineralising concept model at Fortuna.

“Our first pass drill assessment at Fortuna will aim to confirm the following:

• The disseminated nature of the gold mineralisation in the oxide zone, demonstrating capacity for large scale

• The structural interplay with the gold mineralisation, providing windows on the better areas to pursue

• The capacity for ore grade material within the system

• The likelihood of mineralisation to include potential at depth

“The 2,500m drill program proposed, would not be testing the gold potential at depth in the first instance, but the shallow holes would be demonstrating proof of auriferous concept including the disseminated nature of the gold potential on a large scale. This is not an expensive program for a solid first phase test.

“Based on the current early stage facts, Fortuna offers a conceptually larger gold opportunity than Sorpresa. The proposed work program at Fortuna will help resolve this potential.

Video Hyperlink: Discussion on recent Fortuna surface sampling, Sorpresa gold corridor, Fifield NSW

Sorpresa North-South Corridor – 7km of Gold potential with identified targets

“The new Fortuna gold anomaly is at the northern extent of the North-South Sorpresa corridor which has evolved from the detailed field work done by the Company, over and extended period of time. The integration of the recent intensive field work, with historic knowledge generated by the Company, now creates a highly prospective series of targets within this 7km x 2km zone.

“Whilst more details will be provided in due course, on proposed drill programs, the following targets are priorities for testing ( numbers refer to Map, Figure 2, page 4 ):

1. Extensions to Sorpresa Gold and Silver resource

2. Fortuna gold prospect (structural, intrusive driven breccia target)

3. Golden Chrome prospect with intense alteration, surrounding a quartz porphyry/quartz centre, gravity low, 700m diameter (porphyry gold target)

4. Southern Gravity (gold & silver target similar strike (2km), intensity and length to Sorpresa)

Precious Metal Outlook – Remains Positive

“The gold and silver prices have increased considerably in the last 6 months. The Company believes the pricing outlook for precious metals remains firm. This is a positive influence for the junior resource sector helping to promote a more buoyant investor sentiment overall.

	Price 27Jan 2016	Price 12July2016	Increase %
Gold	USD$1102/oz	USD$1333/oz	21%
Silver	USD$14.26/oz	USD$20.22/oz	40%
Platinum	USD823/oz	USD$1095/oz	33%

(quoted (www.kitco.com), in New York based on closing Ask in USD, 12[th] July 2016)

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Figure 1: “Fortuna Gold” Prospect Surface Sampling – showing Gold ppb in plan view

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< 4
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Scale 500m
Planned Drill traverses; with 100m hole spacings
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Sampling Description:

Surface sampling takes into account the complexity and diversity of the regolith, and results are interpreted accordingly in this context. “Pebble Lag” sampling is an averaged sampling technique incorporating an approx. 3m radius at each sampling point, and approx. 2~3kgs of surface rock fragments (pebbles) screened to yield 400g of -4mm +2mm fraction highly averaged micro rock chips

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– Figure 2: Geological &Structural Setting for Sorpresa Corridor Discovery Growth & Targets for Gold

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(2) Fortuna Gold Prospect
Geochem Anomaly
20 gram.metres AuEq 1.2km x 0.4km
Contours
(1) Sorpresa Deposit
7.9Moz Ag and 125kOz Au
(at 0.5g/t Au @ 25g/t Ag cutoff)
Planned
Holes = 50 grams. metres AuEq
o RP xx Contours
(7) Gravity Target
(Postulated Sorpresa Repeat)
(5) Alteration Gold Target
(Postulated Porphyry)
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Figure 3: Fifield Region Concept Map with mineralisation diversity emerging as at July 2016

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CleanTEQ (ASX: “CLQ”) -Syerston
28.2Mt @ 419ppm Sc for 11,819 tonnes of Scandium
77Mt @ 0.73% Ni & 0.13% Co
108.3 Mt @ 0.21 g/t Pt for 0.73 Moz of Pt
Platina Resources (ASX: “PGM”) - Owendale
24Mt @ 380ppm Sc for 9,100 tonnes of scandium;
31Mt @ 0.52g/t Pt, 0.15% Ni, 0.05% Co for 0.52 Moz of Pt
Rimfire tenement Boundary
Rimfire
New Area Mapped with Gold signature
“Fortuna Gold Prospect”
Rimfire
Sorpresa Deposit 7.9Moz Ag and 125kOz Au
(at cutoff 0.5g/t Au @ 25g/t Ag)
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– Figure 4: Fifield Prospect and Concept Map with location of the expanded Sorpresa Basin footprint and New Prospective Au anomaly areas as at July 2016

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Sorpresa Deposit 7.9Moz Ag and 125kOz Au
Rift Basin (0.5g/t Au @ 25g/t Ag cutoff)
New Area Mapping & Sampled
“Fortuna Gold Prospect”
Recently prospected
RC Drilling at Roadside 2016 areas, highlighting zones
of interest which includes
newly identified Au areas
and geology
Gravity Survey completed Feb 2016
Expanded known area of
new target generation completed 18km [2] of Sorpresa style
carbonaceous sediments, of
which less than 10% is
currently drill tested for Au
Gravity Survey – drill
targets identified for
repeats of Sorpresa Au
& Ag
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– Sorpresa Determining growth opportunities

Currently the Sorpresa Deposit comprises 6.4Mt for 7.9Moz of silver and 125kOz of gold (with a cut-off at 0.5g/t Au & 25g/t Ag) as an Inferred and Indicated Mineral Resource, equating to approximately 250,000oz gold equivalent.

The Company believes that potential upside exists at Sorpresa by defining additional resources in under explored areas along strike to the south and at depth, down dip to the east and also in gap areas between mineralised domains.

A highly prospective 7km x 2km North-South gold corridor, with numerous and diverse large scale targets has now been refined and ready to be drill tested. Targets include the sizable (1.2km x 0.4km) Fortuna Gold anomaly identified through recent detailed surface sampling and geological mapping. This area is a gold, arsenic and lead anomaly in the Sorpresa style geology, with strong structural zones appearing to influence the mineralisation. (Figure 2, page4).

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JOHN KAMINSKY CEO and Managing Director

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~ Figure 5: Wider Sorpresa area Map, shows the underlying gold signature, with best Copper Rock Chips overlaid. RC drilling (May July 2015) has confirmed Copper (Chalcopyrite)

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Sorpresa Deposit 7.9Moz Ag and 125kOz Au
Jacks Lookout RC Hole Fi0569
(0.5g/t Au @ 25g/t Ag cutoff)
Up to 0.35% Cu &
1.1% Cobalt
Up to 0.04% Cu Glen Iris
Up to 0.1% Cu
RC Hole Fi0563
Golden
Green Up to
Up to 0.62% Cu
0.29% Cu
Platina
Golden
Gillenbine Eclipse
Green South
Group
Twin Shafts
Up to 0.28% Cu
Platina
Lead
Up to
Up to 0.11% Cu 0.13% Cu
RC Hole Fi0588
Up to 0.16 % Cu 4m @ 6.5% Cu
Au (ppb)
Up to 0.37% Cu
in Auger
Yarrabandi
Road
Carlisle
Up to 0.03% Cu
Up to 0.33% Cu
1km
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The Eclipse Trend is in a structurally complex area which is associated with a strong geochemical corridor which extends from the South for 3.0km through the Eclipse North drilling area and is open along strike to the north and south. Significant high grade Cu and Au drill intersections in both areas has indicated the potential for ore grade mineralisation relatively close to surface, open down dip and along strike.

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ABOUT RIMFIRE PACIFIC MINING AND COMPETENT PERSON DECLARATION

Rimfire Pacific Mining is an ASX listed (code: RIM) resources exploration company that has its major emphasis focused at Fifield in central NSW, located within the Lachlan Transverse Zone (LTZ).

In 2010 the Company delivered a greenfields gold and silver discovery, named “Sorpresa”, in the Fifield district. Subsequent exploration has provided evidence that the “Wider Sorpresa Area” is now considered a significant gold mineralised system of some promise. More recently a copper signature has been established to the East. The gold is predominantly native gold at Sorpresa.

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Location map of Rimfire Tenements within the LTZ, showing proximal projects from others
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The best gold and silver intersections achieved from the period mid-2012 to the current date on the Sorpresa Project area with locations shown include ( note Table 4: Dates and Hyperlinks for previously referred to results in this report) :

14m @ 21.9g/t Au plus 6m @ 93g/t Ag	Trench 31
13m @ 8.46g/t Au	Trench 31
9m @ 18.1g/t Au plus 3m @ 280g/t Ag	Trench 31
14m @ 24.4g/t Au plus26m @ 155g/t Ag	Roadside
9m @ 16.10g/t Au plus 297 g/t Ag	Roadside
7m @ 13.41g/t Au plus 751g/t Ag	Roadside
10m @ 535g/t Ag plus 1.0g/t Au	Roadside
20m @ 230g/t Ag	Roadside North
16m @ 5.32g/t Au plus20m @ 81g/t Ag	Roadside
1m @ 114g/t Au plus1m @ 33g/t Ag	Boundary Gate East (BGE)
4m @ 21.9g/t Au	Join Up

The current main Sorpresa Strike line containing gold and silver mineralisation is approximately 1.5km in length and is at various stages of further discovery extension drilling.

The Company announced a JORC 2012 Compliant Inferred & Indicated Maiden resource for Sorpresa in December 2014, which comprises 6.4Mt for 7.9Moz of silver and 125kOz of gold (at 0.5g/t Au & 25g/t Ag cutoff).

The Company has now established multiple project areas of importance involving hard rock Gold (Au), Silver (Ag), Copper (Cu) and Platinum (Pt) within a 6km radius of the Sorpresa discovery covering an extensive prospective 35km[2] area at Fifield, which is part of the contiguous 566km[2] tenement position held.

The latest presentations on the Company are at hyperlinks :

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– – Rimfire CEO Presentation Mines and Money Hong Kong April 2016 John Kaminsky

Benchmarking – AGM 27 November 2015 – Richard Schodde

Resources Industry Presentation trends in Investment – AGM 27 November 2015 – Hedley Widdup

A 3D Exploration Model, as at May 2014, depicting gold mineralisation at Sorpresa with a description of the RC drill program goals at that time is available as a video by hyperlink: Click Here.

Other videos available on Rimfire Website Hyperlink

Video hyperlinks: (1) Roadside Drilling West End Discussion ; (2) Roadside Drilling South Direction

Regional Prospects within 6km Radius of Sorpresa Project Area at Fifield

Prioritized current prospects and targets within 6kms of Sorpresa are being systematically assessed. Rimfire interprets a rift basin setting at Fifield, Back Arc to the World Class Macquarie Arc, and traversed by the crustal scale Lachlan Transverse Zone (LTZ) and cross cut by other major crustal structures, which is host to multiple styles of significant mineralisation, with combined multimillion ounce gold equivalent potential. To date more than 30 targets are revealed at Fifield.

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The prospect pyramid below ranks these prospects which are grouped into 7 manageable “Target Domains”, for gold and base metals, in terms of their logistical, spatial, deposit style and exploration stage;

Rimfire Prospect Pyramid illustrated at increasing stages of advancement from Conceptual targets, Emerging and Advanced Geochemical Anomalies, Prospects with High Grade intersections, and Advanced Targets, Resource at Sorpresa.

1. Sorpresa (Carbonate Base Metal Epithermal Au/Ag) – Roadside North, Roadside, Original Sorpresa

2. Sorpresa (Carbonate Base Metal Epithermal Au) – Join-Up, Boundary Gate, Boundary Gate East, Trench 31

3. Eclipse Trend (Au-Copper, VMS / Epithermal) – McConnell’s, Transit, Eclipse North, Eclipse, Eurimbla, Golden Chrome, Roseneath, Watt’s Lane, Carlisle.

4. Yoes Lookout (Skarn style and Structurally controlled Greenstone and Sediment hosted Au, possible Porpyhry Cu-Au target style)

5. Orogenics (Structurally controlled Greenstone and Sediment hosted Au)- Golden Green, Golden Green South, Twin Shafts, Rabbit Hill, Golden Green East.

6. Sorpresa Extensions – Sorpresa North, Quartzite Hill, Fifield Lead, Southern Gravity, Red Mist

7. Conceptual – Jack’s Lookout, Gravity Gradient, Raggatt Volcanics, Glen Iris,

Work programs are at various stages of development on the prospects.

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Table 3: Ranked Prospect Portfolio at Fifield NSW

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Company Strategy

The Company has committed to pursue a prospect portfolio strategy of developing the regional prospects at Fifield to suitable stages, in parallel with the Sorpresa project area to achieve outcomes as follows:

• Enhance and highlight the Fifield district’s appeal to deliver more discoveries within 6km radius of Sorpresa

• Metals being pursued include Gold, Silver, Copper and Platinum

• Ensure the Company has the opportunity to make the best discoveries possible in its prospect portfolio

• Continue discovery growth at Sorpresa, looking for important contributions in the next phases of drilling

• Grow the maiden resource at Sorpresa (23 Dec 2014), currently published as inferred and indicated comprising 6.4Mt for 7.9Moz of silver and 125kOz of gold (at 0.5g/t Au & 25g/t Ag cutoff)

• Examine economic potential, as appropriate to the stage of the project area

Competent Persons Declarations

The information in the report to which this statement is attached that relates to Exploration and Resource Results is based on information reviewed and compiled by Colin Plumridge who is deemed to be a Competent Person and is a Member of The Australasian Institute of Mining and Metallurgy.

Mr Plumridge has over 45 years’ experience in the mineral and mining industry. Mr Plumridge is employed by Plumridge & Associates Pty. Ltd. and is a consulting geologist to the Company. Colin Plumridge has sufficient experience that is relevant to the style of mineralisation and type of deposit 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’. Colin Plumridge has previously consented to the inclusion of the matters based on the information in the form and context in which it appears.

Historic information and previously published material under 2004 JORC standard that is referenced in this report:

The information provided in “About Rimfire Pacific Mining” is extracted from the reports entitled and listed in the table below created on the dates shown and is available to view additionally on the Company Website at hyperlink: ASX Announcements. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements.

In addition, the Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements which operated under the 2004 JORC reporting requirements. Mr Colin Plumridge as a Competent Person consented to the inclusion in the original reports in the form and context in which each appeared, please refer to the Competent Persons declaration above for additional information.

Table 4 Dates and Hyperlinks for previously referred to results in this report

ASX July 25[th] 2008 Quarterly Report For the period April 1[st] to June 30[th] 2008

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ASX March 30[th] 2012 Coherent Gold geochemistry at Yoes Lookout Confirmed – Fifield NSW ASX September 17[th] 2012 First Gold Sections Created at Sorpresa Project, Fifield NSW ASX June 13[th] 2012 High Grade Gold Intersection Sorpresa Project – Fifield NSW ASX July 26[th] 2012 Successful Intersections at Sorpresa Gold Project ASX October 10[th] 2012 Highest Gold and Silver Grades seen to date at Sorpresa Project ASX December 18[th] 2012 Sorpresa Project Produces More Encouraging Results ASX March 27[th] 2013 Additional Assays at Sorpresa Gold Project ASX June 13[th ] 2013 Further Positive RC Drilling Results at Sorpresa Project ASX July 17[th ] 2013 Diamond Drilling Reveals Bonanza Grade of 1m @ 114g/t Au ASX October 21[st] 2013 Results Confirm Extensions of Gold and Silver at Sorpresa Project ASX December 20[th] 2013 High Grade Silver extensions continue at Roadside ASX February 14[th] 2014 Gold Intersections Confirm New Intersections at Sorpresa – ASX May 16[th] May 2014 4,000m RC Drilling Program at Sorpresa Project Regional Intersection 2m @ 9.11g/t Gold – ASX May 30[th] May 2014 Drilling Update and 3D Exploration Model for Sorpresa Project 2m @ 7.49g/t Gold intersected ASX July 23[rd] 2014 Encouraging Regional Rock Chip Results up to 13.7g/t Gold, Fifield NSW ASX August 18[th] 2014 New High Grade Rock Chip Results up to 23g/t Au at Fifield NSW ASX August 26[th] 2014 Sorpresa Gold and Silver Mineralisation Extended at Fifield, NSW ASX November 28[th] 2014 Encouraging Gold Results Intersected in New Shallow Oxide Position at Sorpresa ASX December 8[th] 2014 High Grades Intersected in Sorpresa Resource Definition Drilling ASX December 23[rd] 2014 Sorpresa Maiden Resource Fifield NSW – 6.4Mt for 125kOz of gold and 7.9Moz of silver ASX January 30[th] 2015 December Quarter Exploration Report ASX February 20[th] 2015 Sorpresa RC Drilling Assays Finalised, New RC Drilling underway to extend mineralisation ASX February 23[rd] 2015 Gold Intersections confirmed from Surface at Carlisle, Fifield NSW ASX 23[rd] March 2015 Encouraging Results including 2m @ 10.09g/t Gold Intersected at Sorpresa ASX 13[th] April 2015 Skarn style mineralisation intersected with Copper Anomalism at Yoes Lookout Prospect ASX 20[th] May 2015 Yoes Area Assays confirm Copper Anomalism with Gold Present ASX 16[th] June 2015 RC Drill Assays Confirm Copper Anomalism and Gold at Eclipse Trend ASX 23[rd] July2015 4m @ 6.5% Cu and 2.3g/t Au Massive Chalcopyrite at Eclipse ASX 26[th] August 2015 Sorpresa Drilling Continues best intersection of 14m @ 5.24g/t gold & 156g/t silver from 21m ASX 20[th] October 2015 Sorpresa Drilling - Best Intersection of 3m @ 20.42g/t Au AND 4m @ 5.34g/t Au ASX 20[th] November 2015 Sorpresa Drilling gives 13m @ 8.46g/t gold (incl. 2m @ 31.35g/t) at shallow depths ASX 27[th] November 2015 CEO Presentation Corporate and Exploration AGM 2015 ASX 4[th] December 2015 New Drilling Results Include 9m @ 18.15g/t gold at Sorpresa, Fifield NSW ASX 27[th] January 2016 Activities Report December Quarter 2015 ASX 8[th] February 2016 Drilling results give 15m @3.91g/t Au & 223g/t Ag, Incl. 1m @ 40.40g/t Au and 1m @ 1200g/t Ag ASX 19[th] February 2016 7m @ 13.41g/t Au & 751g/t Ag from 19m at Sorpresa, incl. 1m @ 76.70g/t Au & 2490/t Ag ASX 21[st] March 2016 Sorpresa Drilling Results at Roadside Area and Regional Sampling Programs ASX 7[th] April 2016 Presentation to Mines and Money Asia Forum ASX 21[st] April 2016 RC Drilling results include 7m at 4.60g/t Gold with 199g/t Silver at Sorpresa ASX 16[th] May 2016 7m at 2.44g/t Gold and 461g/t Silver at Sorpresa Fifield NSW ASX 31[st] May 2016 9m at 16.10g/t Gold and 297g/t Silver (incl. 1m @70.2g/t Au) ASX 6[th] July 2016 High Grades at Sorpresa incl. 1m @ 6.24g/t Gold and 3170 g/t Silver

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Table 5: JORC Code Reporting Criteria

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Sampling techniques	∙ Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.	RC Samples are collected at 1m intervals from the cyclone in plastic bags. RAB Samples are collected at 1m intervals from the cyclone in plastic bags. 1 metre intervals are sampled from all Auger holes within in situ weathered basement geology. Nominal 2 kg samples are collected at the drill rig. Rock Chips samples are a mix of float, sub crop & outcrop (identified in results table).
	∙ Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	Industry standard QAQC protocols with insertion of certified reference samples, blank samples and field duplicates are included every 25, 51 and 52nd sample respectively. Previously duplicates were every 50
	· Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	RC Hole collars are surveyed using a Garmin GPS, and Trimble DGPS. Downhole surveying in RC hole is conducted every 20m open hole, and where required every 50m in-rod using stainless steel rods. All other drill and sample locations are surveyed using Garmin GPS.
Drilling techniques	∙ Drill type (e.g. core, reverse circulation, open‐hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face‐sampling bit or other type, whether core is oriented and if so, by what method, etc).	Reverse Circulation conducted using face sampling hammer (119mm diameter). RAB drilling conducted using blade bit (100mm diameter). Auger drilling conducted by trailer mounted hydraulic driven auger rig with nominal hole diameter of 100mm.

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Criteria	JORC Code explanation	Commentary
Drill sample recovery	∙ Method of recording and assessing core and chip sample recoveries and results assessed.	Poor sample recoveries are noted during logging with percentage estimates. These are compared to results.
	∙ Measures taken to maximise sample recovery and ensure representative nature of the samples.	RC samples are visually checked for recovery, moisture and contamination. A cyclone and riffle splitter (for RC) are used to provide a uniform sample and these are routinely cleaned. The hole is blown out at the beginning of each rod to remove excess water, plus auto‐ blow downs, to maintain dry sample. Auger and RAB samples are visually checked for recovery and up hole contamination. Auger and RAB drilling not conducted below the water table.
	∙ Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	In RC drilling occasional poor sample recovery and also wet samples occur however close examination and comparison to results showed that there is no identifiable bias in the results associated with these samples.
Logging	∙ Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	Geological logging of drill chips records colour, grainsize, lithology, alteration, mineralisation and veining including percentage estimates along with moisture content. Drill samples are sieved, logged and placed into chip trays.
	∙ Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	Geological logging of drill chips is qualitative by nature, drill chip trays are retained for future reference.
	∙ The total length and percentage of the relevant intersections logged.	All metres drilled are logged
Sub‐sampling techniques and sample preparation	∙ If core, whether cut or sawn and whether quarter, half or all core taken.	No core reported in this release

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Criteria	JORC Code explanation	Commentary
Sub‐sampling techniques and sample preparation continued.	∙ If non‐core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	Reported RC results have been riffle split. Lower priority RC intervals are speared samples and if found to be anomalous will be subsequently riffle split and re-assayed. Wet samples are not put through riffle splitter but homogenized and subsampled using small spear. Sample returned from 1 metre RAB interval is homogenized and speared and composited and maximum composite interval within significant intersection is provided with result. Sample returned from 1 metre auger interval is homogenized in collection tray and speared. All RAB and Auger samples were dry. Rock Chips are sawn in half with half submitted for analysis.
	∙ For all sample types, the nature, quality and appropriateness of the sample preparation technique. ∙	Sub‐samples obtained from riffle splitting are submitted as 1m intervals or composited to 2m (equal weights) to produce a bulk 2kg sample, subsamples of occasional wet metres are composited similarly. Lower priority zones are speared and composited on 4m intervals. The homogenization and spearing method is typical for sampling RAB and auger returns and QAQC results identify that the methods used are appropriate to the style of mineralisation.
	Quality control procedures adopted for all sub‐sampling stages to maximise representivity of samples.	Industry standard QAQC protocols with insertion of certified reference samples, blank samples and field duplicates are included every 50, 51 and 52nd sample respectively. No wet samples are put through the riffle splitter which is checked between samples and cleaned (when necessary) between samples. Equal weights (estimated from equal volumes) are collected for composited intervals.
	Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.	QAQC results of field duplicate analysis identify that the methods used are appropriate to the style of mineralisation.
	· Whether sample sizes are appropriate to the grain size of the material being sampled.	QAQC results of field duplicate analysis identify that the methods used are appropriate to the style of mineralisation.

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Criteria	JORC Code explanation	Commentary
Quality of assay data and laboratory tests	∙ The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	Reported RC samples are dispatched to ALS Laboratories with Au determined by Au_AA26. RAB and Auger samples are dispatched to ALS Laboratories with Au determined by fire assay methods Au-AA22 (or PGM-ICP24) which returns Au to 2ppb (or 1 ppb) respectively, PGM-ICP24 includes Pt to 5 ppb and Pd to 1 ppb on a 50g charge. Selected auger samples were also submitted for full suite multi‐element analysis are via Four Acid Digest method ME‐MS61. Rock chip samples are submitted to ALS Laboratories for Au via Fire Assay method Au-AA22 to 2 ppb and full suite multi‐element analysis are via Four Acid Digest method ME‐MS61. Fire Assay analysis for gold and Four Acid digest for multielement analysis are considered as total techniques in the absence of coarse metal. Screen Fire Assay for gold is considered as total technique when coarse gold is present.
	∙ For geophysical tools, spectrometers,handheld XRF instruments (fpXRF), etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	All significant results reported from NATA accredited laboratory. Handheld XRF (fpXRF) (Olympus Delta50) is usedto determine sample character and type applied to 1m riffle split or composite. All data is collected using a 30 seconds reading time (this is sometimes modified to 15secs, if stable readings are achievable) for each of the 3 beams in soil mode. XRF analysis is typically applied to a single point on the sample bag of interest. Results may be cross checked with additional XRF readings, including further subsamples. The known limitations of XRF, particularly element strengths and weaknesses, are considered. XRF is a scoping and order of magnitude tool, the Company is an expert user of XRF. Trends and comparisons in XRF readings are examined. Laboratory assays may be sought for further validation. XRF results are considered as guidance for subsequent laboratory assay
	∙ Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	Reviews of internal QAQC results has shown that the field sampling, riffle splitting compositing methods used are appropriate to the mineralisation being tested. External laboratory analysis of "umpire" samples confirm results from the primary laboratory.

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Criteria	JORC Code explanation	Commentary
Verification of sampling and assaying	∙ The verification of significant intersections by either independent or alternative company personnel.	All reported intersections are independently reviewed by 2 company personnel
	∙ The use of twinned holes.	Hole Twinning when used, is reported.
	∙ Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Primary field data is captured electronically using established templates. Assay data from laboratory is merged and loaded into Access based database after passing QAQC checks. Database audit of loaded batches is conducted on a monthly basis.
	∙ Discuss any adjustment to assay data.	“<” values are converted into “-“ values and for geochemical analysis results returning less than detection are ascribed to half the detection limit.
Location of data points	∙ Accuracy and quality of surveys used to locate drill holes (collar and down‐ hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	Drill collars are located using handheld Garmin GPS and are RC collars are picked up by a Trimble Differential GPS. Downhole digital multi‐shot surveys are conducted every 20m, open hole where practical, or in stainless steel rods every 50m.
	Specification of the grid system used.	GDA94 zone55
	∙ Quality and adequacy of topographic control.	Collar elevation data from digital terrain model derived from detailed ground gravity survey DGPS data used as an interim measure prior to DGPS pick up of collar location. Other elevation data sourced from handheld GPS.
Data spacing and distribution	∙ Data spacing for reporting of Exploration Results.	RC Exploration was on nominal 80 X 100m grid down to 40 X 40m grid and then down to 20 X 20m grid, or as described. RAB exploration conducted on traverses with coverage on 60 ° dipping holes. Auger exploration currently on a nominal 100 X 20m grid or as described. Rock Chip samples not on a defined grid pattern.

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Criteria	JORC Code explanation	Commentary
Data spacing and distribution continued.	∙ Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.	The nominal RC exploration grid is deemed adequate to identify mineralisation envelopes which are infilled as appropriate. The RAB hole spacing and nominal auger exploration grid are deemed most suitable to identify mineralisation at a scale of interest to the company. This is adequate to establish continuity in this environment however closer spaced drilling may be warranted in certain locations for further definition.
	∙ Whether sample compositing has been applied.	Compositing conducted at 2 and 4 meter intervals in RAB and RC samples. Equal weights from each 1 meter interval are used to ensure that the composite adequately represents the intervals sampled. The equal weights are estimated from equal volume measure used when subsampling. Auger samples are taken on 1 metre intervals.
Orientation of data in relation to geological structure	∙ Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	Current observations do not suggest a bias in sampling from the drilling orientation.
	∙ If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	The drilling orientation is designed to intercept the mineralisation orthogonally where known.
Sample security	∙ The measures taken to ensure sample security.	Sample identification is independent of hole identification. Samples are stored in a secure on‐ site location, under supervision and transported to ALS Orange NSW via Rimfire personnel or licensed couriers.
Audits or reviews	∙ The results of any audits or reviews of sampling techniques and data.	Internal reviews of QAQC data has shown that the field sampling, riffle splitting and compositing methods used are appropriate to the mineralisation being tested.

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Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	∙ Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.	Reported results all from 100% Rimfire Pacific Mining NL tenements at Fifield NSW, which may include EL5534, EL6241, EL7058, EL7959, EL5565, MC(L)305, MC(L)306. All samples were taken on Private Freehold and / or Common Land (prescribed for mining). No native title exists. The land is used primarily for grazing and cropping.
	∙ The security of the tenure held at the time of reporting along with any known impediments to obtaining a license to operate in the area.	The tenement is in good standing, and all work is conducted under specific approvals from NSW Trade and Investment, Mineral Resources.
Exploration done by other parties	∙ Acknowledgment and appraisal of exploration by other parties.	Recent systematic exploration (1980 onwards) has been conducted by Ausplat Minerals NL in JV with Golden Shamrock Mines Ltd and Mount Gipps Ltd, Titan Resources and also Helix Resources and Black Range Minerals NL. Prior to this Exploration for various metals in the Fifield area has been conducted by a number of companies since the late 1960's including Anaconda, CRA Exploration Pty Ltd, Platina Developments NL, Mines Search Pty Ltd, Broken Hill Proprietary Company Ltd, Mt Hope Minerals and Shell.
Geology	∙ Deposit type, geological setting and style of mineralisation.	The mineralisation currently being pursued at Sorpresa appears to have many similarities with typical carbonate base metal epithermal gold style, in a Siluro Devonian back arc basin setting. Other mineralisation styles include sediment and greenstone hosted orogenic gold and VMS.
Drill hole Information	∙ A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:	Plans showing location of drill holes and also location of significant results and interpreted trends are provided in the figures of report. Any new significant RC results are provided in ~~t~~ables within the report. Any new significant RAB results are provided in tables in within the report.
	easting and northing of the drill hole collar
	elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar

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Criteria	JORC Code explanation	Commentary
Drill hole Information Continued.	dip and azimuth of the hole	Any new significant rock chip results are provided in tables within the report. Any new significant Auger results are provided in figures within the report.
	down hole length and interception depth
	∙ If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Information is provided in significant results tables.
Data aggregation methods	∙ In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut‐off grades are usually Material and should be stated.	No averaging or cut-off values are applied to auger or rock chip results. Only significant RAB results >0.1g/t Au are reported using thickness weighted average for intervals with < or = 2m internal dilution. For RC results thickness weighted averages are reported for all intervals. Reported intervals are calculated using ≥ 0.1g/t Au and or ≥ 10g/t Ag cut off and ≤ 2m Internal Dilution.
	∙ Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.	High grade intervals within in larger intersections are reported as included intervals and noted in results table. Aggregation utilises thickness weighted mean calculations.
	∙ The assumptions used for any reporting of metal equivalent values should be clearly stated.	Metal equivalents are not reported.
Relationship between mineralisation widths and intercept lengths	∙ These relationships are particularly important in the reporting of Exploration Results.	Drill holes are designed to intersect the plane of mineralisation (where this is known) at 90° so that reported intersections represent true thickness.
	· If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known	All intersections are subsequently presented as downhole lengths. If down hole length varies significantly from known true width then appropriate notes are provided.

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Criteria	JORC Code explanation	Commentary
Diagrams	∙ Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Refer to Figures
Balanced reporting	∙ Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	This information is provided in results Table and comments in the report.
Other substantive exploration data	∙ Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	There is currently no other substantive exploration data that is meaningful and material to report, beyond that reported already, in this or previous reports.
Further work	∙ The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large‐scale step‐out drilling).	Further work is discussed in the document in relation to the exploration results.
	∙ Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Refer to Figures

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