RIMFIRE PACIFIC MINING LIMITED — Capital/Financing Update 2021

May 11, 2021

ASX Announcement 12[th] May 2021 Page 1

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Fifield Earn-in Update

Rimfire Pacific Mining NL (ASX: RIM) is pleased to announce that Golden Plains Resources (GPR) has confirmed that it is continuing into Year 2 of the Fifield Project Earn-in ASX Announcement 4 May 2020: - Rimfire Enters into $4.5m Earn in Agreement

Rimfire has received the 4[th] Quarter Year 1 exploration cash call of $300k, bringing exploration cash calls for Year 1 of the Earn-in to a total of $1.2 million. Rimfire has also received the Administration Fee of $330k for Year 2 of the Earn-in. This brings total receipts from GPR to $2.1m (including the initial placement of shares in Rimfire).

Commenting on the commitment of GPR to Year 2 of the Earn-in, Managing Director Craig Riley states: “We are thankful for the support of GPR in our endeavours to develop the Sorpresa deposit and continuing ongoing exploration within the Earn-in area which is starting to generate some exciting results at targets such as Transit ASX Announcement 16 March 2021: Assay of 10.95gt Au at end of Transit RC drillhole.”

This announcement is authorised for release to the market by the Board of Directors of Rimfire Pacific Mining NL.

For further information, please contact:

Craig Riley Managing Director Phone: +61 3 9620 5866 Email: rimfire@rimfire.com.au

Going for gold.

Suite 142, Level 1, 1 Queens Road Melbourne VIC 3004 Phone +61 (0)3 9620 5866 rimfire@rimfire.com.au rimfire.com.au

Rimfire Pacific Mining NL | ABN 59 006 911 744 | ASX: RIM

ASX Announcement 12[th] May 2021 Page 2

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ABOUT RIMFIRE

Rimfire Pacific Mining (RIM) is an ASX listed resources exploration company with its major focus at Fifield in central NSW, located within the Lachlan Transverse Zone (LTZ). In 2011 the Company made a greenfields discovery, named “Sorpresa”, announcing a JORC Inferred and Indicated maiden resource in 2014. The information provided in “About Rimfire” is available to view on the company’s website: ASX Announcements. In May 2020, Rimfire signed an Earn-in Agreement with Golden Plains Resources (GPR) covering an area of 103km[2] covering Sorpresa and surrounding area.

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Rimfire is exploring for a major copper / gold or gold mineralised system such as at Northparkes (Cu/Au) or Cowal (Au) on 915km2 of Exploration Licences 100km west of Parkes in central NSW. It includes multiple prospects with potential for further gold discoveries in the 103km2 area within the GPR Earn-in area around Sorpresa with all work in this area funded by GPR. Rimfire retains responsibility for funding exploration programs over the rest of its Exploration Licences that also includes two licences covering 234km2 located about 50kms south of the Fifield Project in a prospective area that is now part of the MinEx Cooperative Research Centre program (minexcrc.com.au).

Competent Persons Declaration

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

Mr Riley has over 25 years’ experience in the mineral and mining industry. Mr Riley is employed by Rimfire Pacific Mining (RIM) and is an employee of the Company. Craig Riley has sufficient experience that is relevant to the style of mineralisation and type of deposits 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’. Craig Riley consents to the inclusion of the matters based on the information in the form and context in which it appears.

Forward looking statements Disclaimer:

This document contains “forward looking statements” as defined or implied in common law and within the meaning of the Corporations Law. Such forward looking statements may include, without limitation, (1) estimates of future capital expenditure; (2) estimates of future cash costs; (3) statements regarding future exploration results and goals. Where the Company or any of its officers or Directors or representatives expresses an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and the Company or its officers or Directors or representatives as the case may be, believe to have a reasonable basis for implying such an expectation or belief. However, forward looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward looking statements. Such risks include, but are not limited to, commodity price fluctuation, currency fluctuation, political and operational risks, governmental regulations and judicial outcomes, financial markets and availability of key personnel. The Company does not undertake any obligation to publicly release revisions to any “forward looking statement”, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

Going for gold.

Suite 142, Level 1, 1 Queens Road Melbourne VIC 3004 Phone +61 (0)3 9620 5866 rimfire@rimfire.com.au rimfire.com.au

Rimfire Pacific Mining NL | ABN 59 006 911 744 | ASX: RIM