Rimfire Minerals Corporation: Island Arc Drops Jake Option

Rimfire Minerals Corporation (TSX VENTURE:RFM) reports that Island Arc
Exploration Corporation has informed Rimfire that due to current market
conditions it has terminated its option to explore the Jake property. The
property is located 13 km west of Clearwater, BC.


Island Arc funded drilling in 2007 that successfully tested three targets
identified by a geophysical survey and mechanized trenching. Anomalous gold
mineralization was intersected in each target area, including 11.34 g/t gold
over a true width of 1.25 metres from the Jake Showing. The drill program
defined continuity of vein structures beyond the original Jake showing and
beneath the extensive glacial till blanket, confirming that Induced Polarization
(IP) geophysical techniques are effective for targeting buried structures. In
2008 an additional 22 line-kilometres of IP extended the strike of the
interpreted structural corridor to one kilometre and generated four additional
IP anomalies. These anomalies are of similar magnitude to those over the Jake
Showing and all warrant future drill testing. In keeping with Rimfire's business
model, management will be seeking a partner to advance the Jake prospect.


The Company wishes to thank Island Arc for its commitment to the Jake property
over the last 2 years.


This news release has been reviewed by Mark Baknes, M.Sc., P.Geo., a Qualified
Person for the purpose of National Instrument 43-101. Assays were completed by
ALS Chemex Labs of North Vancouver, BC.


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. Rimfire currently has in excess of two
years of operating capital and finances approximately 80% of its exploration
through option and joint venture agreements. 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, Jaguar Minerals Limited and BWG.


On behalf of Rimfire Minerals Corporation

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.