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Re: News Archive - Tuesday, November 06, 2007
Poncho Property Update
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PR07-24

Vancouver, BC -- November 6, 2007: David Caulfield, President and CEO
of Rimfire Minerals Corporation ("Rimfire") reports results of drilling
at the Poncho Project, Nevada. Rimfire completed 1575 metres of reverse
circulation drilling in seven holes in 2007. Quartz-calcite veining
with textures typical of epithermal gold and silver hydrothermal
systems was intersected in every hole. Field observations and
geochemistry from surface sampling and in drilling indicates that the
top of a significant epithermal system is preserved at Poncho and that
potential for gold-silver mineralization exists at depth.

The Poncho Property is one of 35 target areas identified in a data
mining study conducted for Newmont covering a 7,920 square kilometre
(3,060 square mile) "Area of Interest" (AOI). Under the terms of a
Strategic Alliance with Newmont (announced December 15, 2004) Rimfire
had access to Newmont technical personnel, technical databases and
targeting maps generated from the data mining study for the entire AOI.
Upon completion of the 2007 drill program, Newmont had a one-time
opportunity to exercise its back-in right to obtain a 50% interest in
the Poncho by funding the next $1 million in exploration. This right
has been waived and Rimfire will not be completing further work in the
Walker Lane under the current Strategic Alliance agreement with
Newmont.

Rimfire is now free to find an option/joint venture partner for the
Poncho Property and will be actively seeking a partner to investigate
these targets. "The results of the current program indicate we need to
be testing deeper portions of the hydrothermal system at Poncho for
economic gold mineralization," stated Mark Baknes, VP Exploration for
Rimfire.

The 2007 exploration program targeted vein structures underlying a
series of silica caps, up to 600 metres in diameter near the
intersection of a regional, northwest-trending and smaller,
second-order northeast-trending faults. Epithermal style veining with
anomalous gold and silver concentrations was intersected in two of the
four target areas, including 0.490 g/t gold over 10.67 metres in hole
RC07-04, 1.766 g/t gold over 3.05 metres hole RC07-06 and 0.608 g/t
gold over 3.05 metres in hole RC07-07. Observations indicating the
Poncho hydrothermal system has remaining gold and silver potential
include:

.. siliceous sinter deposits marking the paleosurface to the epithermal
system;

.. broad silica caps (up to 600 m diameter) exhibiting multiple episodes
of brecciation reflecting the size and magnitude of the hydrothermal
system;

.. an extensive system of quartz-calcite feeder veins beneath the silica
caps that are up to 15 meters wide and exhibit epithermal boiling
textures;

.. anomalous Au-Ag values from surface grab samples (2.04 g/t gold) and
from four of seven drill holes from the current program.

Pathfinder element geochemistry from the 2007 program shows vertical
zonation and indicates that the prospective zones for gold deposition
may occur at depths below the levels tested in this program
(approximately 300 metres). Management has identified 2.1 kilometres of
strike length that remains prospective below this level.

All samples were analyzed by ALS Chemex, Reno, Nevada, using ICP-MS and
AES analyses for trace element geochemistry and fire assay. The results
contained in this news release have been reviewed by Mark Baknes,
M.Sc., P.Geo., Vice President Exploration, a Qualified Person under
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
silver properties in western North America. Rimfire is partnered with
Northgate Minerals Corporation, Fronteer Development Group, Rubicon
Minerals Corporation, Cangold Limited, American Creek Resources Ltd.,
Island Arc Exploration Corporation, Arcus Development Group Inc. and
BWG.


On behalf of Rimfire Minerals Corporation

"David A. Caulfield"

David A. Caulfield, President and CEO

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.

Suite 700 - 700 West Pender St.
Vancouver, B.C. Canada V6C 1G8
T: (604)669-6660 F: (604)669-0898
E-mail: info@rimfire.bc.ca
Web Site: www.rimfireminerals.com
Contact: David Caulfield or Jason Weber
TSX-V:RFM

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Copyright (c) 2007 RIMFIRE MINERALS CORPORATION (RFM) All rights
reserved. For more information visit our website at
http://www.rimfire.bc.ca/ or send mailto:info@rimfire.bc.ca
Message sent on Tue Nov 6, 2007 at 4:59:58 PM Pacific Time
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