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Re:   News Archive - Monday, July 28, 2008
      Rimfire Partners with Northgate to Explore Australia's Stawell
      Gold Trend
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PR08-11

Vancouver, BC -- July 28, 2008:  Rimfire Minerals Corporation
("Rimfire") is pleased to announce a new exploration partnership with
gold-producer Northgate Minerals Corporation (NGX-TSX), which grants
Rimfire an option on its Stawell Corridor gold exploration properties
in the State of Victoria, Australia. Northgate, through its 2008
acquisition of Perseverance Corporation Ltd., acquired a dominant claim
position in the Victoria Goldfields, host to over 50 million ounces of
gold in both alluvial and hard rock reserves and production.

"With this agreement, we are building on an established relationship,"
said President and CEO, Jason Weber. "It is a terrific opportunity that
became available to us because Northgate's focus is on exploration
around their two operating mines, allowing us to advance their outside
targets in the corridor."

Chris Rockingham, VP of Exploration and Business Development for
Northgate stated, "From Northgate's perspective, choosing Rimfire as a
joint venture partner was easy. They have proven to be very capable
operators in our Canadian Joint Ventures and the Stawell Corridor land
package is ideally suited for their grass roots exploration skill set."

Highlights of this agreement include:

.. The opportunity to explore a highly productive gold belt in a
politically stable jurisdiction.
.. The land position is coherent, encompassing much of the Stawell
Corridor. The Stawell Corridor itself is well defined with Northgate's
high grade Stawell Gold Mine (SGM) at its core.
.. Excellent greenfield exploration opportunities. The exploration model
for the corridor has been extensively studied, providing exploration
criteria at both the regional and detailed scales. Rimfire will have
access to Northgate's SGM which will help build a better understanding
of the geological model and improve Rimfire's exploration
effectiveness.
.. High quality targets with convincing similarities to SGM exist in the
land package being made available to Rimfire. Previous work programs
were well designed, identifying numerous targets that have yet to be
brought to the drill-ready stage, however, insufficient resources were
available to the predecessor company to conduct systematic greenfields
exploration of the entire land package. 
.. The deal is structured similar to other Rimfire/Northgate
arrangements in which Rimfire undertakes to advance exploration to the
point where drill targets are defined, at which time Northgate can take
over funding of exploration, earning a larger percentage in the
property for doing so.

The Stawell Corridor is a 240 km long belt bound by the Congee and
Moyston faults and cored by Northgate's 5 million ounce Stawell Gold
Mine (20 Mt at 8 g/t gold). Mineralization consists of gold-bearing
quartz veins in ferruginous (iron-rich) sediments associated with
basalt centres. This deposit has been studied extensively, resulting in
the identification of large-scale characteristics that can be used in
the exploration for similar deposits elsewhere in the district.
Geophysical techniques such as gravity and magnetics surveys have
proven effective in targeting basalt centres and granites associated
with mineralization. These techniques will be important in evaluating
the rest of the Stawell Corridor and refining targets for drilling.

Rimfire will be exploring three licences, totaling 120 km of the
corridor length, representing all ground outside of a buffer around the
Stawell Gold Mine. In addition to greenfields opportunities, more
advanced targets exist including the 10 kilometre-long Murtoa target,
which surrounds the Kewell gold resource. The Kewell resource, which
Northgate has opted to exclude from this agreement, is reported to
contain a historic 100,000 ounces of gold at 6 g/t gold and has been
defined by 25 drillholes. Additional targets include kilometre-scale
gravity anomalies that have been confirmed through drilling to reflect
basalt centres at depth, with coincident gold and pathfinder element
geochemical anomalies on surface. Rimfire has commenced a compilation
of all the available data to plan field work for this fall.

Under the agreement, Rimfire agrees to conduct exploration to maintain
the licenses in good standing for the current year (approximately
$370,000). Rimfire can then elect to conduct further exploration on any
or all three of the licenses, earning a 50% interest on each by
spending $500,000 per license over two years. Northgate then has the
option on each license to: 1) carry out the next $1.5 million to earn
back a 10% interest (total 60%) and another 10% by reaching a
production decision; 2) not participate and allow Rimfire to earn a
100% interest in the property by spending, or causing to have spent, an
additional $2 million over 4 years; or 3) participate in a 50/50 joint
venture.

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. 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"

Jason Weber, P.Geo., President & CEO

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

TSX-V:RFM  Suite 1350 - 650 West Georgia St.
Vancouver, B.C.  Canada V6B 4N9

T: (604)669-6660  F: (604)669-0898  E-mail: info@rimfire.bc.ca
Web Site: www.rimfireminerals.com
Contact: Jason Weber or Patrick Moodie

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Copyright (c) 2008 RIMFIRE MINERALS CORPORATION (RFM)  All rights
reserved.  For more information visit our website at
http://www.rimfire.ca/ or send mailto:info@rimfire.ca
Message sent on Mon Jul 28, 2008 at 3:21:42 PM Pacific Time
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