Rimfire Pacific Mining (ASX: RIM, 'Rimfire' or 'the Company') is pleased to advise that it has engaged Perth specialist metallurgical services group Independent Metallurgical Operations Pty Ltd (IMO) to develop a conceptual processing flowsheet with the aim of optimising atmospheric leach recoveries and production of a nickel - cobalt - scandium product from high-grade mineralised material from the Melrose prospect.

Melrose lies within the Company's Avondale Earn In Project and is located 70 kilometres northwest of Parkes within the highly prospective Lachlan Orogen of central New South Wales (Figures 1 and 2). Parkes is the site of the New South Wales Government's proposed Critical Minerals Hub which will be central point for mining and value added processing of critical minerals within the state (source - NSW Government - critical minerals and high tech metals website). Commenting on the announcement, Rimfire's Managing Director Mr David Hutton said: 'Melrose is a significant critical minerals opportunity for the company and favourable results from the newly commissioned metallurgical studies and planned step-out drilling will justify a detailed drill out of the Melrose prospect with a view to estimating a maiden Mineral Resource Estimate for the location'.

Melrose metallurgical studies

IMO has been engaged by Rimfire to develop a conceptual processing flowsheet with the aim of optimising atmospheric leach recoveries of nickel - cobalt - scandium mineralised material from the Melrose prospect. IMO will also undertake beneficiation work with the aim of generating an upgraded nickel - cobalt - scandium product from the atmospheric leach test work. To underpin the studies, a bulk sample (260 kg) of high-grade nickel - cobalt - scandium mineralisation from Melrose (PQ quarter diamond drill core) was recently dispatched to IMO in Perth. In addition IMO will also incorporate the results of preliminary test work and analysis of a 10 kg sample of PQ diamond drill core from Melrose undertaken by ALS Metallurgy in Perth late in 2022. The test work will take at least 3 months to complete with IMO to provide ongoing reports to Rimfire during this period. As part of their work, IMO will also complete a detailed literature review on extraction processes relating to laterite - hosted nickel-cobalt-scandium deposits globally with an emphasis on maximising recoveries of scandium.

Contact:

David Hutton

Managing Director

T: +61 417 974 843

Investor

Greg Keane

CEO CFO

Alternate Director

Ian McCubbing

T: +61 497 805 918

About Rimfire

Rimfire Pacific Mining (ASX: RIM, 'Rimfire' or the 'Company') is an ASX-listed Critical Minerals exploration company which is advancing a portfolio of projects within the highly prospective Lachlan Orogen and Broken Hill districts of New South Wales. The Company has two 100% - owned copper - gold prospective projects that are located west of Parkes and Orange in central New South Wales: The Valley Project - located 5km west of Kincora Copper's Mordialloc porphyry copper* gold discovery (KCC.ASX), and The Cowal Project - located to the east of Evolution's Lake Cowal Copper / Gold mine* (EVN: ASX). Rimfire also has the 100% - owned Broken Hill Cobalt (Green View) Project which is located immediately west and northwest of Broken Hill and covers several targets including the interpreted along strike extension to Cobalt Blue Holdings' Railway Cobalt Deposit (COB: ASX).

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