Rimfire Options Springfield Gold Project From Jaguar Minerals

Jason Weber, President and CEO of Rimfire Minerals Corporation ("Rimfire") (TSX
VENTURE:RFM), is pleased to announce the Company has reached an agreement with
Jaguar Minerals Limited ("Jaguar") (ASX:JAG) to enter into an option/joint
venture arrangement to explore Jaguar's Springfield gold project in the Lachlan
Fold Belt of New South Wales, Australia. The Springfield gold project lies 12 km
south-southeast of the historic mining town of Gulgong and 80 km to the
northeast of Newcrest's Cadia Valley porphyry copper-gold mining complex (28.5
Moz gold and 3.8Mt copper). Rimfire's pursuit of the Springfield project was a
result of its Lachlan Fold Belt studies (see News Release PR06-17, Oct. 3,
2006). 


"We look forward to working with Jaguar Minerals in advancing the Springfield
project," states Jason Weber. "There are many reasons why we are excited to be
exploring Springfield not the least of which is a very high ranking in the BWG
Neural Network study." 


Highlights of the Springfield project include:

- The Gulgong area has produced over 500,000 ounces of alluvial gold from
1872-1927; the source of rich placers have not been adequately explained by the
bedrock mineralization found to date.


- Gold mineralization found to date at Springfield is hosted in late Ordovician
volcanic rocks which have been intruded by co-magmatic monzodiorite and
monzonite to syenite intrusives, a setting that is permissive for copper-gold
porphyry mineralization of the Cadia-Ridgeway type.


- The property hosts the Springfield gold deposit where previous work
(1989-1990) had defined a resource of 1.44 Mt at 1.43 g/t gold (60,000 oz) using
a 0.5 g/t cut-off based on 63 shallow drill holes (total 1916 m). The
mineralized resource is hosted in altered syenite and was only delineated to a
depth of 60 metres. This resource is quoted for historical information and
should not be treated as a current reserve or resource. The reader is cautioned
that the resource estimate does not conform to National Instrument 43-101
requirements for reporting reserves and resources and has not been verified by
the issuer's qualified person and should not be relied upon. 


Initially, it has been agreed that Rimfire can earn a 51% interest in the
Project by spending $1,000,000 on exploration over four years. Following this,
the parties will either continue exploration together under a joint venture
agreement, or Jaguar may elect not to contribute, allowing Rimfire to earn 100%
of the project by spending $5 million in exploration on the Project. Upon
definition of a JORC compliant gold resource of 500,000 oz Jaguar shall be
issued 100,000 common shares of Rimfire Minerals Corporation ("RFM"). Upon
definition of a JORC compliant gold resource of 1M oz Jaguar shall be issued
500,000 common shares of RFM. Should Rimfire receive cash and/or share payments
as a result of a subsequent option/joint venture with a third party, Jaguar is
entitled to 25% of the proceeds. Should Rimfire decide to sell outright its
interest in the project prior to earning 100% of the project, Jaguar would
receive 40% of all proceeds. If Rimfire exercises the 100% option and decides to
sell any interest, Jaguar would receive 15% of proceeds.


Lachlan Fold Belt Work Progress: During the past four months, Rimfire has made
good progress on its Lachlan Fold Belt properties. Surface exploration programs
have been undertaken on five (Barmedman, Walmer, Mt. MacDonald, Goulburn and
Gollan) of Rimfire's nine wholly owned exploration licenses. This work has
included geological mapping, rock chip sampling, soil and silt geochemical
surveys and Induced-Polarization geophysical surveys. These exploration licenses
were selected on the basis of the BWG Neural Network study which incorporated
geological, geophysical (gravity, magnetic and radiometric), geochemical,
lithological, structural, Landsat, topographical, and drilling databases.
Results of this work are being compiled and evaluated in order to select targets
for drilling later in 2008.


This news release has been reviewed by David Caulfield, P.Geo., a Qualified
Person for the purpose of National Instrument 43-101. 


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, P.Geo., President & CEO