Rimfire Minerals Corporation: Jake Project Drilling Results

Jason Weber, President and CEO of Rimfire Minerals Corporation (TSX VENTURE:RFM)
reports final results from drilling conducted at the Jake Property, 13 km west
of Clearwater, British Columbia. The 2007 program successfully tested the Jake
Showing at depth, including an intersection of 11.34 g/t gold over a true width
of 1.25 metres. The winter 2007 drilling program confirms continuity of vein
structures beyond the original Jake showing and beneath the extensive glacial
till blanket. It also confirms that Induced Polarization (IP) geophysical
techniques are effective in targeting these buried structures.


A total of 1083 metres of drilling was completed in seven holes. An eighth hole
was lost in overburden. Island Arc Exploration Corp. (Island Arc) funded the
program under the terms of an option agreement signed in May of 2007, allowing
Island Arc to earn a 51% interest in the project by funding $1.75 million in
exploration over three years. A plan map with drill hole locations can be found
at http://www.rimfire.bc.ca/s/Jake.asp.


The drilling program tested three targets identified by a geophysical survey and
mechanized trenching in 2007. An IP survey conducted in June revealed three
chargeability high anomalies in the immediate vicinity of the Jake Showing. The
first area is coincident with the Jake discovery outcrop, reflecting
mineralization sampled in trenches in 2006 and again in 2007. Results of 2007
trenching included 7.70 g/t gold over 2.80 metres from a channel sample across a
series of quartz-pyrrhotite-pyrite-chalcopyrite-bismuthinite veins, including
19.3 g/t gold over 0.60 metres. Three drill holes targeted the Jake Showing,
intersecting the Jake host structure at approximate depths of 15, 25 and 75
metres below surface. The highest gold values were observed where quartz veining
is associated with net-textured to massive
pyrrhotite-pyrite-chalcopyrite-bismuthinite. Hole J-DDH07-04 intersected a 0.50
metre section of net-textured sulphides in quartz veins averaging 27.80 g/t gold
and strongly anomalous in bismuth and copper. This intersection averaged 11.34
g/t gold over the entire 1.25 metre true width of the structure.


Drilling at a second target, the Jake Offset, located 300 metres to the north,
intersected a 0.5 metre zone of strong shearing and chlorite alteration
averaging 4.64 g/t gold, including a 20 centimetre sample of net-textured
sulphides and quartz vein fragments assaying 8.85 g/t gold. Gold mineralization
was encountered in the northern-most of three holes (over 190 metres of trend)
drilled to test a 300 metre-long chargeability anomaly that remains open to the
northwest.


Christopher J. Wild, P.Eng, Vice-President, Exploration for Island Arc
commented, "Island Arc views these results as very positive. The intersection of
gold mineralization in drilling at the Jake Showing and 300 metres north at the
Jake Offset indicates that gold mineralization occurs in multiple structures.
Once the field season begins, we plan to use IP geophysics as our primary tool
to delineate extensions to these structures and identify new targets."




                 Jake Project - 2007 Diamond Drilling Results

--------------------------------------------------------------------------
Drill Hole    Zone          From (m)    To (m)    Interval (m)   Gold (g/t)
--------------------------------------------------------------------------
J-DDH07-01    Jake Offset   Hole lost in overburden
J-DDH07-02    Jake Offset   No significant results
J-DDH07-03    Jake Offset   No significant results
J-DDH07-04    Jake Showing     22.0      23.5   1.50 (tw 1.25)       11.34
 including                     22.3      22.9   0.60 (tw 0.50)       27.80
J-DDH07-05    Jake Showing     31.0      31.4            0.40         1.52
J-DDH07-06    Jake Showing    105.6     105.7            0.10         7.37
J-DDH07-07    Jake Offset      43.5      44.0            0.50         4.64
 including                     43.8      44.0            0.20         8.85
J-DDH07-08    Southeast IP  No significant results
--------------------------------------------------------------------------
Note: tw equals true width



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. Current and former partners include
AngloGold Ashanti Limited, Barrick Gold Corporation, Newmont Mining Company,
Inmet Mining Corporation, Northgate Minerals Corporation, Fronteer Development
Group, Rubicon Minerals Corporation, Cangold Limited, American Creek Resources
Ltd., Island Arc Exploration Corporation and BWG.


On behalf of Rimfire Minerals Corporation

Jason Weber, P.Geo., President & CEO