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News Archive - Thursday, June 07, 2007
$10 Million Exploration Budget for 2007
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PR07-14

Vancouver, BC -- June 7, 2007: David Caulfield, President and CEO of
Rimfire Minerals Corporation is pleased to provide an update of the
Company's exploration plans for 2007. Management anticipates a record
amount of exploration, totalling in excess of $10 million dollars
including expenditures funded by the Company's partners. At this time,
five projects are slated for drilling amounting to approximately 17,000
metres (56,000 feet).

"It is at the drilling stage that new discoveries are made," stated
David Caulfield, President and CEO. "Our project portfolio has matured.
In 2007 we are drilling five projects and each one of these gives
shareholders excellent exposure to a potential discovery. At the same
time, we are building for the future with five early stage projects
where we are preparing the next suite of drill targets for testing."


Project Summary

Wernecke Breccias Joint Venture, iron oxide-copper-gold +/- uranium and
uranium targets, Yukon
Joint venture partner Fronteer Development Group (80%) recently
commenced the 2007 exploration program. Budgeted at $6 million for the
2007 season, approximately 10,000 metres of drilling will target
"Olympic Dam" style copper-gold and copper-gold-uranium targets, as
well as stand-alone uranium +/- gold targets. Initial drilling is
targeting Olympic Dam-style mineralization at the Hoover and Auks
prospects while targets are refined at new uranium prospects discovered
in 2006, such as Thunder Mountain (highlights include 0.68% U3O8, 99.2
g/t gold from locally derived frost-heaved blocks) and Fireweed (88
float boulders averaging 0.23% U3O8 collected over a 200 by 400 metre
area). The Wernecke Joint Venture is comprised of 30 properties
covering 420 square kilometres.

Tide Property, gold, northwest British Columbia
American Creek Resources Ltd. is scheduled to commence drilling in July
of this year. American Creek will fund $1.2 million in expenditures to
advance the 36 Zone, where the 2004 discovery hole intersected 129.4
metres averaging 1.0 g/t gold. The 36 Zone is hosted within a 2.0 by
0.5 km gold-in-soil geochemical anomaly (>0.5 g/t gold), only 5% of
which has been tested by drilling. A 2006 program on the property
identified high-priority targets to be drill tested in the current
program. The Tide is road accessible and is situated within the
prolific Stewart-Iskut Metallogenic Belt, host to over 26 million
ounces of gold including newly defined resources at deposits such as
Mitchell (13.1 million ounces gold defined by Seabridge Gold) and
Snowfield (3.0 million ounces gold defined by Silver Standard
Resources).

Pogo Area Gold Properties, Goodpaster District, Alaska
New partner Rubicon Minerals has commenced a $1 million drilling
program to investigate gold targets identified by Rimfire and its
previous partners in the Goodpaster Gold District. Exploration in this
district is targeting high grade gold mineralization similar to that
being extracted at the Pogo Gold Mine operated by Teck Cominco. Rimfire
has had a key presence in the district since the discovery of the Pogo
Deposit was announced in the late 1990's. In a recently completed
transaction valued at $22 million, Rubicon purchased the Alaskan
holdings of Evanachan Limited, a private company controlled by
ex-Goldcorp Chairman and CEO Robert McEwen. Evanachan had an option to
earn a 70% interest in Rimfire's 182,320 acre land position which
formed the core of Evanachan's Alaskan holdings.

Jake Property, gold, south-central British Columbia
Under a recent option agreement with Rimfire's latest partner, Island
Arc Exploration Corporation, a minimum of $300,000 in exploration will
be undertaken in 2007. This program, funded by Island Arc, will largely
target the Jake gold showing, where a winter 2006 trenching program
exposed gold-bearing quartz-sulphide veins. The apparent width of the
mineralized structure exposed to date is 20 metres and only limited by
the extent of trenching. Significant results from this program include
7.3 g/t gold over 2.67 metres, 6.3 g/t gold over 2.09 metres, 11.4 g/t
gold over 0.60 metres and 10.5 g/t gold over 1.00 metre. The 2007
program will include an IP geophysical survey, trenching and diamond
drilling to investigate the Jake gold veins and an adjacent one
kilometre-long geophysical conductor parallel to known veins. The Jake
was discovered in 2005, when a prospector discovered high grade gold
boulders and quartz-sulphide vein mineralization in the bank of a
recently-constructed logging road.

Poncho Property, gold, Nevada (Newmont Alliance)
Rimfire completed approximately 1575 metres of reverse circulation
drilling at the Poncho this spring, testing kilometre-scale quartz and
calcite veins at depth. Four targets were tested with seven holes. When
all results have been received and compiled they will be presented to
Newmont prior to release. Newmont has a one-time back-in right to earn
a 50% interest in the project by spending the next US$1 million.


Other Projects

Williams, gold, north-central British Columbia
Arcus Development Group Inc. is funding a reconnaissance program to
investigate 154 square kilometres of new claims acquired after a fall
2006 drilling program confirmed the presence of alteration and
mineralization consistent with porphyry-style hydrothermal systems at
the GIC Prospect. The 2007 program will consist of soil and silt
geochemical surveys, mapping and prospecting.

Lachlan Fold Belt, copper-gold targets, New South Wales, Australia
Rimfire has acquired eight exploration licences totalling approximately
816 square kilometres and applied for an additional licence (110 square
kilometres) within the Lachlan Fold Belt, Australia. These licences
were targeted based on a data mining study of a 120,000 square
kilometre area completed by BWG. BWG has granted Rimfire the exclusive
right to use the study's target maps and data to acquire licences and
conduct exploration in the study area for a period of two years. A
brief site examination of some targets was completed last fall.
Subsequent work has focussed on prioritizing current targets and
identifying new targets for acquisition. Reconnaissance sampling and
prospecting will commence this coming fall.

Auddie, copper-gold, Quesnel Trough, British Columbia
The Auddie Property is located 25 kilometres north of Serengeti
Resources' Kwanika Discovery (328 metres of 0.6% copper and 0.7 g/t
gold in drilling), in the Quesnel Trough of north-central British
Columbia. A prospector discovered porphyry-style mineralization and
alteration in a logging road cut in late 2006. Two intervals,
representing the entire outcrop exposure, were chip sampled by Rimfire
in October 2006 yielding one interval which assayed 0.16% copper and
0.02 g/t gold over 28 metres (including 6 metres averaging 0.52% copper
and 0.07 g/t gold). The second interval averaged 0.31% copper and 0.02
g/t gold over 15 metres. This mineralization is hosted in strongly
potassium-feldspar altered monzonite, with fractured and quartz
veinlet-hosted pyrite and chalcopyrite. A first phase program will
commence in late June, which will be followed by IP geophysical
surveys, soil and silt sampling, mapping and prospecting as warranted.

Northgate Alliance, gold, multiple target areas
Northgate Minerals Corporation and Rimfire will continue work on at
least two target areas under the terms of the Northgate/Rimfire
Exploration Alliance. Northgate will fund follow up work on one target
identified in the 2006 program, while work on a second, less advanced
target will be jointly funded by the two companies.

Grizzly, copper-gold, northwest British Columbia
The Grizzly Showing is a copper-gold porphyry target 52 kilometres from
Novagold/Teck Cominco's Galore Creek Deposit and only four kilometres
from the proposed Galore Creek access road. The Grizzly Showing is
hosted in rocks compositionally similar, and thought to be
age-equivalent to the Copper Mountain Plutonic Suite associated with
mineralization at the Galore Creek copper -- gold deposit. A 2006 chip
sampling program re-sampled previous trenches and filled in large areas
not previously sampled yielding a 38.0 metre interval of 1.1 g/t gold
and 0.74% copper in one trench. The exposed dimensions of the Grizzly
Showing are approximately 350 metres long by 50 to 100 metres wide.
Soil sampling by previous workers indicate this showing is contained
within a one square kilometre of anomalous copper, gold and molybdenum
results. Management is currently evaluating the Grizzly and
opportunities related to joint venturing the project.

New Project Generation
Management is continually evaluating new projects to add to our
exploration portfolio. This includes internally generated targets as
well as projects brought to Rimfire. One such example is a group of
four properties between 50 and 65 kilometres west and southwest of
Smithers, BC, recently optioned from a prospecting group. The Lynx,
Copper Starr, Firecat and Tess properties are early-stage copper-gold
porphyry or precious metal-rich vein targets. Initial work on these
properties and additional early-stage prospects will be undertaken this
summer.

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"

David A. Caulfield, President

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

TSX-V:RFMSuite 700 - 700 West Pender St.
Vancouver, B.C. Canada V6C 1G8
T: (604)669-6660 F: (604)669-0898 E-mail: info@rimfire.bc.ca
Web Site: www.rimfireminerals.com
Contact: David Caulfield or Jason WeberNews Release

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Copyright (c) 2007 RIMFIRE MINERALS CORPORATION (RFM) All rights
reserved. For more information visit our website at
http://www.rimfire.bc.ca/ or send mailto:info@rimfire.bc.ca
Message sent on Fri Jun 8, 2007 at 10:01:23 AM Pacific Time
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