Rimfire Minerals Corporation

COMPANY DATA | INTRODUCTION | PROJECTS IN HAND | MANAGEMENT
CHINESE

COMPANY DATA

INTRODUCTION

Rimfire is an aggressive, well-financed mineral exploration company with a portfolio of highly prospective gold properties in British Columbia and Alaska. Partners funding exploration in 2003 include AngloGold (U.S.A.), Barrick, First Au Strategies Inc., Stikine Gold Corp., and Plutonic Capital Corp.

Rimfire is working exclusively in Western Canada and Alaska because of knowledge, mineral potential and stability. The Company is focused on properties that are at an under-explored or dormant stage and the Company is searching for specific deposit types that are defined on the basis of profitable metals and grades.

PROJECTS IN HAND

(1) Pogo District (high grade gold veins), Central Alaska

The Pogo gold deposit of TeckCominco/Sumitomo has a published geological reserve of 9.0 million tonnes (9.9 million tons) grading 18.9 g/t (0.55 oz/ton) for a total of 5.5 million contained ounces of gold. The deposit is comprised of two discordant, shallowly dipping quartz veins near the margin of a 107 million year old granitic intrusion. Rimfire identified and staked several properties in the district based on similarities to Pogo.

After TeckCominco/Sumitomo, Rimfire has interests in the largest land package in the immediate Pogo area. Rimfire is the underlying vendor for claims that cover over 184 sq.km (70 sq.mi). AngloGold is earning up to a 70% interest in the Eagle and ER-Ogo-Fire properties by spending a total of US$900,000 and paying Rimfire US$100,000 cash per property. Rimfire retains a 30% interest in the large California/Surf property that borders on the east side of the Pogo property.

In 1998, Rimfire acquired an extensive land position in the immediate Pogo area. Specific geological/geophysical targets were identified from a comprehensive compilation of all publicly available data for a vast area centred on the Pogo deposit. Since 1999, joint venture partners Western Keltic/Barrick Gold, Hyder Gold and AngloGold have spent in excess of CDN$2.5 million on soil geochemistry, airborne geophysics and diamond drilling.

In 2003, AngloGold will carry out further ground surveys on both properties and plans to follow-up with drill testing of multiple targets. Rimfire is currently seeking a partner for California/Surf to investigate the three primary target areas with further ground work leading to drilling. As the Pogo deposit approaches production, they foresee a significant increase in exploration peripheral to the eventual Pogo Mine.

(2) Tide Project (high grade gold-silver veins), Northwest British Columbia

Exploration on the Tide property is focused on high-grade gold-silver-zinc-lead veins associated with a 193 million year old porphyritic intrusion. The Tide property lies within a belt of major vein and copper-gold porphyry deposits associated with the same suite of 193-198 million year old porphyries, including the Snip (1.0 million oz. gold), Silbak Premier (1.9 million oz. gold) and Kerr (1.5 million oz. gold) deposits.

The road accessible Tide property consists of 86 contiguous mineral claims (20 sq.km) located 36 kilometres north of Stewart, B.C. Rimfire has granted an option to Plutonic Capital Corp. which is earning a 51% interest in the property by spending $1.435 million in exploration, paying $130,000 cash and issuing 200,000 shares by June 2006.

The Tide property covers a 200 to 1000 metre wide northerly trending feldspar-hornblende porphyry sill which intrudes andesitic volcanic rocks of the Early to Middle Jurassic Hazelton Group. A strong northerly-trending 2.0 km by 4.2 km gold-silver-arsenic-lead-zinc-copper geochemical anomaly is centred on the porphyry sill and hosts all known veining. Two styles of high-grade veining have been recognized on the Tide property.

Plutonic Capital Corp. is planning to carry out a $200,000 drill program in the summer of 2003. This program will investigate numerous unexplained drill targets within the 2.0 km x 4.2 km long gold-silver-arsenic-lead-zinc-copper geochemical anomaly. The 1.6 km long fault associated with the Arrow Zone mineralization will be a primary focus.

(3) RDN Project (Eskay Creek-type gold-silver target), Northwest British Columbia

Barrick's Eskay Creek mine is one of Canada's highest-grade gold mines and the world's fifth largest silver producer. Production and reserves total 3.9 million oz gold and 175 million oz silver at a grade of 51.0 g/t (1.5 oz/ton) gold and 2300 g/t (67 oz/ton) silver. 

Rimfire holds 100% of the 68 sq.km RDN Property, located 40 km south of Eskay, subject to a 1.33% NSR. Barrick is currently earning a 75% interest by conducting $1.5 million in exploration. After vesting, Barrick must fund all exploration and engineering until a decision to mine has been reached. Rimfire can opt to have Barrick fund to production for an additional 5% interest in the property.

The fundamental geological similarities between the RDN property and Eskay Creek are the driving force behind the project. Numerous characteristics related to the process that formed the Eskay Creek deposit also exist at the RDN.

The first phase of the 2003 program will consist of groundwork to follow up on soil geochemical anomalies identified in 2002. This initial phase of groundwork will be followed by drilling later in the season.

(4) William's Gold Project (Mesothermal gold veins), North-Central British Columbia

Rimfire currently has a 50% interest in 35.5 sq.km and an option to earn 100% of the 142 unit property. Rimfire has granted an option to Stikine Gold Corporation to earn a 70% interest in the property by spending $1,500,000 on exploration, paying $110,000 in cash and issuing 150,000 shares by June of 2006. Stikine must fund all exploration and development to positive feasibility and can earn an additional 5% interest by financing Rimfire's portion of development costs.

At the T-Bill Prospect, Jurassic age granitic rocks intrude beneath a structural dome comprised of Devonian to Permian metamorphic phyllites and schists. Previous drilling (15 holes) over an area measuring 500 by 900 metres intersected numerous high grade gold-bearing intervals including 6 separate 2 metre intercepts containing in excess of 15 g/t gold.

Stikine Gold Corporation, the operator has planned a $300,000 drill program for 2003. A number of targets will be tested including IP and geological/geochemical targets. Ground work will also investigate the porphyry gold-copper potential at the Northern prospect.

(5) Thorn Project (high grade silver-gold-copper), Northwest British Columbia

The Thorn property consists of 207 contiguous claim units (52 sq.km). First Au Strategies has an option to earn 51% by spending $1.2 million over 3 years, making payments totalling $190,000 and issuing 250,000 shares to Rimfire. Veining sampled at the Thorn has assayed up to 22.1 g/t Au and 2414 g/t Ag (Tamdhu).

First Au Strategies is planning to spend $380,000 in 2003 on exploration. Drilling will target numerous other vein targets on the property and follow up on the successful results from the Tamdhu vein in 2002. Identifying ore controls and the extend of the newly discovered high grade Oban Breccia Zone mineralization will be a priority.

(6) FER Gold Project (sediment hosted gold), Southeast Yukon

The exploration target at the FER property is a distal, plutonic-related gold system, part of the spectrum of this deposit type in the Tintina Gold Belt such as Fort Knox (7 million oz Au) and Pogo (5.2 million oz Au). 

The FER property consists of 118 contiguous claims covering 24 sq.km. Rimfire holds an option from Boliden Ltd. to acquire up to an 85% interest in the property, subject to a 2% NSR, by spending $1,500,000 and granting $50,000 in cash or shares.

Rimfire is currently seeking a joint venture partner to carry out additional surveys for definition of drill targets. The work to locate the source of the soil anomalies should include structural, geophysical and soil geochemical surveys.

MANAGEMENT

Rimfire Minerals Corporation management has accumulated over fifty years of exploration experience. With this experience management has gained a profound understanding of the styles and geological controls on mineralization in the Northwest. The management team include:

David Caulfield, P.Geo., President & C.E.O.
Henry Awmack, P.Eng., Chairman
Mark Baknes, M.Sc., P.Geo., Vice President, Exploration
Jason Weber, B.Sc. (Geology), Manager, Corporate Communications
Jack Miller, MA Sc., P.Eng., Director
Gary Paulson, Director
Bipin Ghelani, CA, Director

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