Earnings release
Page 1
29 January 2026 December 2025 Quarter Activities Report Highlights • Scandium drilling programs completed at Murga Exploration Target (Fifield Earn-In Project) and 100% - owned Rabbit Trap with first assays received after the Quarter returning more broad drill intercepts at Murga, including; o 21m @ 204ppm Sc (313ppm Sc Oxide) from 12m incl 5m @ 280ppm Sc (429ppm Sc Oxide), and o 24m @ 160ppm Sc (245ppm Sc Oxide) from 1m incl 6m @ 270ppm Sc (414ppm Sc Oxide), • Remaining assays from Murga and Rabbit Trap expected by mid- February 2026 • At the Windy Ridge prospect (100% - owned Broken Hill Project), a 600m gold - antimony (Au Sb) zone identified with multiple historic drill intercepts; o 36m @ 0.93g/t Au, 0.46% Sb from 90m incl 6m @ 1.53g/t Au, 0.74% Sb, and 2m @ 1.45g/t Au, 1.2% Sb, o 52m @ 0.53g/t Au from 210m incl 11m @ 0.58g/t Au, 9m @ 1.08g/t Au, and 8m @ 1.03g/t Au (with selected chip samples up to 1.4% antimony), and o 5.3m @ 1.2 0g/t Au from 189.40m incl 0.4m @ 9.70g/t Au and 1.5m @ 1.47g/t Au (hole not assayed for antimony) • Activities planned for the March 2026 Quarter focused on estimating a maiden scandium Mineral Resource for Murga • Additionally, the Fifield Earn-In Management Committee (Rimfire and GPR) have unanimously approved preparations for a Murga metallurgical study with a subsequent Cash Call amount of $110K received from GPR post Quarter end Commenting on the Quarterly Activities report, Rimfire’s Managing Director Mr. David Hutton said: “In another active period in the field, Rimfire carried out two major scandium drilling programs at Fifield and identified a new gold – antimony prospect at Broken Hill during Q2 FY26. We are confident that the results of the recent Murga drilling will lead to the conversion of the Murga Exploration Target into a mineral resource which in turn will have the potential to significantly increase the size of Rimfire’s existing scandium resource inventory at Fifield. The recognition of a new gold – antimony opportunity at our 100% - owned Broken Hill Base Metals Project could be a transformational event and comes on the back of the Australian Federal Government’s new $1.2 billion Critical Minerals Strategic Reserve which has identified antimony as a priority mineral. With our high value scandium assets and an emerging critical and precious minerals opportunity at Broken Hill, Rimfire is perfectly positioned to leverage the growing appetite for these in demand minerals.” For personal use only
Page 2
rimfire@rimfire.com.au www.rimfire.com.au Operational Summary Rimfire Pacific Mining ( ASX: RIM , “ Rimfire” or the “Company”) is an ASX -listed Critical Minerals exploration company advancing projects within the Fifield and Broken Hill districts of New South Wales (Figures 1 to 3). Building a critical mass of scandium within the Fifield Scandium District remains the Company’s primary strategic focus. During the December 2025 Quarter (the “ Quarter”), the Company completed scandium – focused air core drilling at the Murga Exploration Target (86 holes / 2,384 metres) which lies on the Fifield Earn -In project, and at the 100% - owned Rabbit Trap Project 23 holes (1,360 metres). Initial assays for the Murga drilling received after the Quarter continue to deliver broad scandium drill intercepts such as; o 21m @ 204ppm Sc (313ppm Sc Oxide) from 12m incl 5m @ 280ppm Sc (429ppm Sc Oxide), and o 24m @ 160ppm Sc (245ppm Sc Oxide) from 1m incl 6m @ 270ppm Sc (414ppm Sc Oxide), While further assays are awaited from the program, geological and assay data from the recent drilling will be used in conjunction with existing data to underpin the estimate of a Mineral Resource for the Murga Exploration Target. Successful conversion of the exploration target to a mineral resource has the potential to significantly increase the size of Rimfire’s existing scandium resource inventory at Fifield which currently totals 5,449t Sc (8,333t Sc Oxide) (See Rimfire’s ASX Announcements dated 9 September 2024 and 20 October 2025). At Rabbit Trap the drilling successfully intersected scandium - prospective rocks at the Malamute Prospect which look very encouraging and compares favourably to previously drilled scandium at the prospect although assays are needed to confirm this. Rimfire also identified a significant new gold - antimony (Au Sb) opportunity at the Windy Ridge prospect which lies on the 100% - owned Broken Hill Base Metal Project. The Windy Ridge prospect at Broken Hill ad ds to three base metal drill targets (copper, cobalt, silver, lead, and zinc) that were generated from a review of historic airborne electromagnetic (VTEM) geophysical and associated geological and geochemical data at Broken Hill during the previous Quarter. Looking ahead to the March 2026 Quarter Rimfire expects to receive the remaining assays for the Murga drilling and all of the assays for Rabbit Trap. The Company will also estimate a Mineral Resource for Murga and potentially Rabbit Trap and prepare for a Murga metallurgical study to start in the June Quarter. Figure 1: Project Locations For personal use only
Page 3
rimfire@rimfire.com.au www.rimfire.com.au Operational Review – Scandium projects Murga Exploration Target (Fifield Earn In Project - GPR has right to earn 50.1%) 86 air core holes (FI2880 to FI2945 and FI2969 to 2988 / 2,384 metres) were drilled during the Quarter. The drilling, which was fully funded by Rimfire, was undertaken throughout the northern and central portion of the 9km² Murga Exploration Target to infill existing broad spaced drill holes (thereby achieving a n overall nominal drill spacing of 50 to 100 metre centres in key areas throughout the exploration target) and underpin the estimate of a maiden Inferred Mineral Resource for Murga . Resolution Drilling Pty Ltd of Parkes NSW successfully carried out the drilling in an efficient manner. Drillholes intersected a range of weathered rock types including ultramafic pyroxenite rocks that are known from Rimfire’s work throughout the broader Fifield district to be an important primary scandium source rock (see Rimfire ASX Announcement dated 28 March 2025). Following the end of the Quarter, Rimfire received the first drill assays with multiple holes delivering broad scandium intercepts; • 21m @ 204ppm Sc (313ppm Sc Oxide) from 12 metres in FI2905 including 5m @ 280ppm Sc (429ppm Sc Oxide), • 24m @ 160ppm Sc (245ppm Sc Oxide) from 1 metre in FI2906 including 6m @ 270ppm Sc (414ppm Sc Oxide), • 38m @ 114ppm Sc (175ppm Sc Oxide) from 10 metres in FI2904 including 4m @ 153ppm Sc (235ppm Sc Oxide), • 26m @ 134ppm Sc (206ppm Sc Oxide) from 12 metres in FI2901 including 4m @ 243ppm Sc (373ppm Sc Oxide), and • 45m @ 114ppm Sc (175ppm Sc Oxide) from 5 metres in FI2882 including 7m @ 157ppm Sc (241ppm Sc Oxide). In total (including the current program), Rimfire has now drilled 258 air core holes (6,655 metres) and 2 diamond holes (298.7 metres) in 4 separate programs throughout the Murga Exploration Target (see Rimfire ASX Announcements dated 28 March 2025, 16 December 2024, 6 May 2024, and 3 October 2023). See Rimfire’s ASX Announcements dated 1 December 2025, 18 December 2025, and 27 January 2026 for further details. Significance of the Murga Exploration Target H&S Consultants Pty Ltd defined an Exploration Target for the broader Murga area (excluding the Murga North Mineral Resource) in 2024 (See RIM’s ASX Announcement dated 9 September 2024). It is based on an outline of the scandium-bearing pyroxenite interpreted from aeromagnetic data and results of Rimfire’s initial reconnaissance air core drilling (on nominal 400m x 400m centres) throughout the Murga area. For personal use only
Page 4
rimfire@rimfire.com.au www.rimfire.com.au An average thickness of 15 metres has been assumed along with a default density of 2.15t/m3. However, at the time of defining the exploration target, it was unknown whether the whole outlined area will have reasonable prospects for eventual extraction so it has been assumed that only 50% of the area within the pyroxenite outline will be classified as the Exploration Target. The Exploration Target for the broader Murga area (excluding the Murga North Mineral Resource) is: 100 to 200Mt at 100 to 200ppm Sc ² ² Cautionary Statement: The potential quantity and grade of the Exploration Target is conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Successful conversion of the exploration target to a mineral resource has the potential to significantly increase the size of Rimfire’s existing scandium resource inventory at Fifield which currently totals 5,449t Sc (8,333t Sc Oxide) as detailed in Table 1. Table 1 - Rimfire Scandium Resource Inventory (Refer to RIM ASX Releases 5/09/2024 and 20/10/2025) Cut off Deposit Category Mt Sc ppm Sc Oxide* ppm Sc tonnes Sc Oxide tonnes 100ppm Sc Melrose Indicated 2.9 250 380 730 1,100 Melrose Inferred 0.1 200 310 16 20 Melrose Total ³ 3.0 240 380 740 1,120 Murga North ⁴ Inferred 21.0 125 190 2,650 4,050 Currajong ⁵ Inferred 15.1 137 210 2,059 3,163 Melrose + Murga North + Currajong Total 5,449 8,333 * Sc multiplied by 1.5338 to convert to Sc Oxide (Sc 2O3). Table includes minor rounding errors. ³ ⁴ Details of the Melrose and Murga North Mineral Resource Estimates were previously released by Rimfire in an ASX Announcement entitled “Highly Encouraging Maiden Scandium Mineral Resources for Melrose and Murga North” dated 9 September 2024. ⁵ Details of the Currajong Mineral Resource Estimates were previously released by Rimfire in an ASX Announcement entitled “Maiden Currajong MRE increases Rimfire Scandium resources by 61%” dated 20 October 2025. Rimfire confirms that it is not aware of any new information or data that materially affects the information included in the 9 September 2024 and 20 October 2025 ASX announcements, and that all material assumptions and technical parameters underpinning the estimates in th ose ASX announcement s continue to apply and have not materially changed. Rabbit Trap Scandium Project (Rimfire holding Option to Purchase and 100% - owned) 23 air core holes (FI2946 to FI2968 / 1,360 metres) were drilled during the Quarter. The drilling, which was fully funded by Rimfire, was undertaken with the dual objective of determining the significance of three scandium – prospective magnetic anomalies that lie east / northeast of the Malamute Scandium Prospect and expanding the footprint of the Malamute Prospect. Regionally the Rabbit Trap Project lies north along strike from the company’s Fifield and Avondale projects and covers a north trending belt of Ordovician – age mafic / ultramafic intrusive rocks (Alaskan – Ural style) that are prospective for prospective for a range of critical minerals including scandium, nickel, cobalt and the platinum group elements (PGEs). Previous wide spaced (e.g. 250 x 250m centres) reconnaissance air core drilling undertaken in 2019 and 2023 identified strongly anomalous scandium (Sc) within a flat – lying weathered and For personal use only
Page 5
rimfire@rimfire.com.au www.rimfire.com.au lateritised pyroxenite at Malamute Scandium Prospect (See Rimfire’s ASX Announcement dated 27 November 2024), i.e. • 18m @ 217ppm Sc (332ppm Sc Oxide) from 30m in MA07 including 6m @ 331ppm Sc (508ppm Sc Oxide) • 9m @ 197ppm Sc (302 ppm Sc Oxide) from 8m in MA08 including 3m @ 272ppm Sc (417ppm Sc Oxide) • 9m @ 242ppm Sc (371ppm Sc Oxide) from 34m in MA44 including 3m @ 373ppm Sc (572ppm Sc Oxide), and • 10m @ 270ppm Sc (414ppm Sc Oxide) from 25m in MA48 including 4m @ 295ppm Sc (452ppm Sc Oxide). Note - Sc multiplied by 1.5338 to convert to Sc Oxide (Sc2O3). Scandium at the Malamute Prospect is present over a 400m x 500m area and remains open laterally to the east and west. In this program, 16 of the 23 holes (FI2953 to FI2968) were drilled on nominal 100 – metre spacings throughout and around the area of existing scandium mineralisation. The drillholes at the Malamute Prospect intersected a strongly weathered ultramafic pyroxenite overlain by a thick zone of black / purple saprolite clay which bears a strong resemblance to the previously drilled scandium at the prospect, although assays are needed to confirm this observation. Drilling also tested three previously undrilled magnetic anomalies that lie immediately east and northeast of the Malamute Prospect that were interpreted to represent additional occurrences of prospective ultramafic rock types. 5 holes drilled into the 2 northeastern anomalies (FI2946 to FI2950) failed to penetrate basement rocks due to thick cover sequences of gravel and running sands with abundant ground water with the deepest hole going to 102 metres. As such the cause of the north-eastern magnetic anomalies remain unknown and there may be merit in employing a different drill technique (i.e. diamond drilling) to further investigate these anomalies later. 2 holes drilled into the magnetic anomaly (FI2951 and 2952) which lie immediately east of the Malamute Prospect intersected a deeply weathered possible sedimentary basement rock and assays are needed to understand the significance of this observation. See Rimfire’s ASX Announcement dated 16 December 2025 for further details. Next Steps - Scandium projects Looking ahead to the March 2026 Quarter Rimfire expects to receive the remaining assays for the Murga drilling and all of the assays for Rabbit Trap. Once all of the Murga assays have been received, the data will be used to underpin the estimate of a Mineral Resource for the Murga Exploration Target which is anticipated by the end of the March 2026 Quarter. Rimfire and its Fifield Earn -In exploration partner – GPR, have unanimously approved preparations for a Murga metallurgical study (i.e. defining a scope of work and obtaining a work quotation) to test mineralised material from Murga which is expected to be completed by the end of the March 2026 Quarter. For personal use only
Page 6
rimfire@rimfire.com.au www.rimfire.com.au At Rabbit Trap, t he significance of the intersected rock types will not be known until geological logging is completed and geochemical assays are received by mid-February 2026. If the holes drilled at the Malamute Prospect are successful, the work will underpin the estimate of a maiden mineral resource estimate for the Malamute Prospect. Operational Review – Base Metal projects Broken Hill Base Metal Project (RIM 100%) Immediately following the Quarter, Rimfire identified a significant new gold - antimony (Au Sb) opportunity at the Windy Ridge prospect at Broken Hill which is in addition to three other base metal drill targets (i.e., Black Hills East, Bald Hill, and Windy Ridge identified during the September 2025 Quarter (see Rimfire’s ASX Announcement dated 2 September 2025). Windy Ridge Gold Antimony Prospect Details The Windy Ridge Gold Antimony Prospect is located 30 kilometres southwest of the Broken Hill townsite and occurs within the same rock sequence that hosts the Broken Hill Line of Lode silver lead zinc deposits, namely a north -east trending intercalated sequence of sillimanite facies metamorphosed sedimentary rocks, amphibolites and quartzo-feldspathic rocks which are locally disrupted by small scale cross -cutting shear zones that may influence the distribution of high - grade gold mineralisation. Historic rock chip sampling and drilling has defined a 2.5-kilometre-long gold prospective corridor at Windy Ridge with the strongest gold – antimony grades present within a 600-metre-long zone at the northern end of the prospect. Gold – antimony mineralisation occurs within sheared and brecciated chlorite – sericite - quartz schists, chlorite – rich quartzites and gahnite bearing quartzites which contain between 1% and 15% sulphides, i.e. pyrite, arsenopyrite, stibnite and sphalerite. The mineralised horizon outcrops in places and is visible as a linear “chargeability” (+15msec) anomaly in historic Induced Polarisation (IP) geophysics along most of its strike. The Windy Ridge Gold Antimony Prospect is located 30 kilometres southwest of the Broken Hill townsite and occurs within the same rock sequence that hosts the Broken Hill Line of Lode silver lead zinc deposits, namely a north -east trending intercalated sequence of sillimanite facies metamorphosed sedimentary rocks, amphibolites and quartzo-feldspathic rocks which are locally disrupted by small scale cross -cutting shear zones that may influence the distribution of high - grade gold mineralisation. Historic rock chip sampling and drilling has defined a 2.5-kilometre-long gold prospective corridor at Windy Ridge with the strongest gold – antimony grades present within a 600-metre-long zone at the northern end of the prospect. Gold – antimony mineralisation occurs within sheared and brecciated chlorite – sericite - quartz schists, chlorite – rich quartzites and gahnite bearing quartzites which contain between 1% and 15% sulphides, i.e. pyrite, arsenopyrite, stibnite and sphalerite. The mineralised horizon outcrops in places and is visible as a linear “chargeability” (+15msec) anomaly in historic Induced Polarisation (IP) geophysics along most of its strike. Rock chip sampling by Seltrust in 1983 along the 2.5-kilometre-long corridor returned anomalous values ranging from 0.5 to 3.0g/t gold with the highest value of 37g/t gold collected from For personal use only
Page 7
rimfire@rimfire.com.au www.rimfire.com.au outcropping gossanous material in the northern portion of the prospect. Seltrust did not assay their rock chips for antimony. Despite gold and antimony being first recognised by previous explorers at Windy Ridge in 1976, there has not been systematic assaying for antimony in subsequent drilling of the prospect. Previous drilling at Windy Ridge has returned multiple intersections including; o 36m @ 0.93g/t Au, 0.46%Sb from 90 metres in NPD-P05 including 6m @ 1.53g/t Au, 0.74% Sb from 102 metres and 2m @ 1.45g/t Au, 1.2%Sb from 118 metres, o 52m @ 0.53g/t gold from 210 metres in AK4 including 11m @ 0.58g/t gold from 210 metres, 9m @ 1.08g/t gold from 235 metres, and 8m @ 1.03g/t gold from 254 metres, (with selected chip samples up to 1.4% antimony) o 5.3m @ 1.20g/t gold from 189.40 metres in NPD-D1 including 0.4m @ 9.70g/t gold from 189.40 metres and 1.5m @ 1.47g/t gold from 193.20 metres , (hole not assayed for antimony) o 16m @ 0.69g/t gold from 38 metres in NPD-P05, o 36m @ 0.85g/t gold from 88 metres in NPD-P05, o 10m @ 1.34g/t gold from 56 metres in NPD-P06, o 4m @ 1.0g/t gold from 32 metres in NPD-P12, o 32m @ 0.81g/t gold from 24 metres NPD -P21 including 11m @ 1.04g/t gold from 32 metres. Windy Ridge Gold Antimony Opportunity The Windy Ridge Prospect represents a significant gold and antimony opportunity for Rimfire and its shareholders which is especially timely given the Australian Federal Government’s new $1.2 billion Critical Minerals Strategic Reserve which has just identified antimony as a priority mineral for Australia’s economic, energy and national security future. Windy Ridge is significant for the following reasons: 1. It’s been 40 years since the Windy Ridge was last drilled by Seltrust and CRAE. Gold and antimony commodity prices have increased significantly in that time, which justifies a re- examination of the area. Recognition of antimony strengthens the attractiveness of the prospect. 2. The wide spaced (160 metres) drill traverses employed by previous explorers were too far apart to assess for internal high – grade gold and antimony mineralisation within the 600 - metre-long gold antimony mineralised zone. If internal high-grade zones are present within the cross-cutting shear zones, then all previous holes have been drilled in the wrong orientation and would not have tested this scenario. Surface rock chip sampling has returned gold values up to 37g/t gold which also highlights the potential for high-grade mineralisation within the near surface environment (i.e. the oxide zone). The historic drill holes have not adequately tested this concept. 3. The abundance and grade of antimony at Windy Ridge is not well defined due to the lack of systematic assaying for antimony by previous explorers despite the presence of the antimony mineral (stibnite) in drill core and strongly anomalous levels of antimony in selected drillholes. For personal use only
Page 8
rimfire@rimfire.com.au www.rimfire.com.au 4. Windy Ridge and the surrounding Broken Hill Base Metals Project is 100% - owned by Rimfire and not subject to any third – party arrangements or encumbrances. See Rimfire’s ASX Announcement dated 19 January 2065 for further details. Next Steps – base metal projects Having identified the Windy Ridge opportunity , Rimfire is considering a range of commercial options to generate shareholder value from the Broken Hill Base Metal Project, including sole funding future exploration work, introducing an exploration partner or outright divestment. Rimfire will approach third parties, including a number who have previously expressed an interest in the project, to determine the current commercial appetite for the Broken Hill Base Metal Project. Corporate Activities Completion of ATT Corporate transaction During the Quarter, Altitude Minerals Limited (ASX.ATT – formerly Copper Search Limited) exercised its option to purchase Rimfire’s Cowal Project which is located east of the Cowal Gold Mine in central New South Wales. Rimfire has now received the $200K option payment comprising $100K cash and $100K worth of Altitude Ordinary Shares. Fifield and Avondale Earn-In Projects Exploration on the Fifield and Avondale Projects is subject to an Earn-In Agreement with Golden Plains Resources (GPR). Exploration activities at the Fifield and Avondale Projects are managed by Rimfire on behalf of a Management Committee which comprises two Rimfire representatives and on e GPR representative. At the start of the Quarter, the Management Committee unanimously approved a work program and budget for the Quarter which enables preparation for metallurgical test work of scandium mineralised material from the Murga Exploration Target, a 9 - kilometre - long seismic line extending from the Sorpressa Gold Silver Deposit (0.92Mt @ 2.3g/t gold and 30g/t silver for 67Koz gold and 0.9Moz silver - see Rimfire ASX Announcement 6 November 2019 ), and drill testing of a new copper gold target named Kara Kara. Following the approval of the Quarter budget and work program and pursuant to t he Fifield and Avondale Earn-In Agreements, Rimfire issued GPR with a Cash Call Notice for $11 0,000 which was paid by GPR within the required timeframe. Cash, Capital Structure, and Funding At 31 December 2025, Rimfire had cash of $ 1.5M, and Earn-In bank balances totalling $ 69K. Related party transactions of $166K (section 6.1 and 6.2 of the December 2025 Quarter Appendix 5B) are payments for salary and statutory superannuation to David Hutton (MD and CEO), Greg Keane (CFO) and Non-Executive Director fees. Capital structure of the Company at 31 December 2025; For personal use only
Page 9
rimfire@rimfire.com.au www.rimfire.com.au • Ordinary Fully Paid Shares - 2,765,977,228 • Unquoted Options expiring with various dates and prices, issued to staff, consultants, and directors – 81,950,000 • Unquoted Options expiring 31 March 2027 @ $0.03 (3 cents) – 97,650,000 • Unquoted Options expiring 28 October 2027 @$0.03 (3 cents) – 233,333,335 Legal As reported in the June 2025 Quarterly Report, GPR has made a claim against Rimfire in relation to part of the payments ($385,000) made by GPR to Rimfire in 2023 under the terms of the Fifield Heads of Agreement ( See both of Rimfire’s ASX Announcements dated 20 June 2023 ). The second defendant to those proceedings, Omeo Gold Pty Ltd (Omeo), has since filed its defence and counterclaim. Omeo’s primary counterclaim is to seek the return of funds from GPR and if unsuccessful against GPR, seeks those funds from Rimfire. A mediation on this matter has been scheduled for 20 February 2026. Rimfire Tenement Schedule Below is a listing of the exploration licences held by Rimfire at the 31st of December 2025. Project Location Licence Interest Interest Acquired / during Qtr. Interest Reduced / Farmed out during Qtr. Broken Hill Broken Hill EL5958 100% - - EL8572 100% - - EL8599 100% - - EL9768 100% - - EL9749 100% - - Rabbit Trap Albert EL86661 Up to100% EL9748 100% - - The Valley Fifield EL8542 100% - - EL8401 100% - - Cowal² Cowal EL8804 100% - 100% Cowal EL9397 100% - 100% Porters Mount EL8329 100% - 100% Fifield³ Fifield EL8935 100% - - M(C)L305 100% - - EL6241 100% - - Avondale* Fifield EL5565 100% - - EL7058 100% - - EL7959 100% - - EL8401 100% - - EL8542 100% - - EL8543 100% - - EL8935 100% - - ¹ Option to purchase 100% of Exploration Licence from Javelin Minerals ² Cowal tenements were transferred to Altitude Ltd after they exercised their option to purchase, with completion of transfer occurring 12/01/26 ³ Subject to the Fifield Earn In and Joint Venture Agreement with GPR * Subject to the Avondale Fifield Earn In and Joint Venture Agreement with GPR For personal use only
Page 10
rimfire@rimfire.com.au www.rimfire.com.au Figure 2: Fifield project locations showing Rimfire (red blocks) and Rio Tinto (blue) and Sunrise Energy Metals (green). MURGA RABBIT TRAP MELROSE CURRAJONG For personal use only
Page 11
rimfire@rimfire.com.au www.rimfire.com.au Figure 3: Rimfire’s Broken Hill Project (red blocks), and third -party competitors - (S32 – South 32 Limited JV with Barrier Resources and Bowyang Pty Ltd / BHM – Broken Hill Mines / RHI – Red Hill Minerals and Red Hill Minerals Earn In and JV with Peel Mining / COB – Cobalt Blue Broken Hill Cobalt Project). ENDS Windy Ridge Pinnacles (BHM) RIMFIRE RED HILL MINERALS SOUTH 32 COBALT BLUE BROKEN HILL MINES For personal use only
Page 12
rimfire@rimfire.com.au www.rimfire.com.au This announcement is authorised for release to the market by the Board of Directors of Rimfire Pacific Mining Limited. For further information please contact: David Hutton Greg Keane Managing Director / CEO CFO / Alt. Director for Ian McCubbing Ph: +61 417 974 843 Ph: +61 497 805 918 Competent Persons Declaration The information in the report to which this statement is attached that relates to Exploration and Resource Results is based on information reviewed and/or compiled by David Hutton who is deemed to be a Competent Person and is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Hutton has over 30 years’ experience in the mineral s industry and is the Managing Director and CEO of Rimfire Pacific Mining. Mr Hutton has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Hutton consents to the inclusion of the matters based on the information in the form and context in which it appears. The data in this report that relates to Mineral Resource estimates is based on information compiled and evaluated by Mr Simon Tear who is a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM) and who has sufficient experience relevant t o the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resourc es and Ore Reserves (the “JORC Code”). Mr Tear is a Director of H&S Consultants Pty Ltd, and he consents to the inclusion in the report of the Mineral Resource in the form and context in which they appear. Forward looking statements Disclaimer This document contains “forward looking statements” as defined or implied in common law and within the meaning of the Corporations Law. Such forward looking statements may include, without limitation, (1) estimates of future capital expenditure; (2) estim ates of future cash costs; (3) statements regarding future exploration results and goals. Where the Company or any of its officers or Directors or representatives expresses an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and the Company or its officers or Directors or representatives, believe to have a reasonable basis for implying such an expectation or belief. However, forward looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward looking statements. Such risks include, but are not limited to, commodity price fluctuation, currency fluctuation, political and operational risks, governmental regulations and judicial outcomes, financial markets, and availability of key personnel. The Company does not undertake any obligation to publicly release revisions to any “forward looking statement”. For personal use only
Page 13
Rule 5.5 ASX Listing Rules Appendix 5B (17/07/20) Page 1 + See chapter 19 of the ASX Listing Rules for defined terms. Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity Rimfire Pacific Mining Limited ABN Quarter ended (“current quarter”) 59 006 911 744 31 December 2025 Consolidated statement of cash flows Current quarter $A’000 Year to date (6 months) $A’000 1. Cash flows from operating activities - - 1.1 Receipts from customers 1.2 Payments for - - (a) exploration & evaluation (b) development - - (c) production - - (d) staff costs (130) (299) (e) administration and corporate costs (466) (2,208) 1.3 Dividends received (see note 3) - - 1.4 Interest received 2 5 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other (GST Received) 91 202 Other (Earn-In Administration Fee, transfer of funds from Earn-in Account for payment of Earn-in area expenditure) 42 42 1.9 Net cash from / (used in) operating activities (461) (2,258) 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (a) entities (b) tenements - - (c) property, plant and equipment - - (d) exploration & evaluation (347) (602) (e) investments - - (f) other non-current assets - - For personal use only
Page 14
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 2 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (6 months) $A’000 2.2 Proceeds from the disposal of: - - (a) entities (b) tenements 104 104 (c) property, plant and equipment - - (d) investments - - (e) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (refund of tenement security deposits) - 38 2.6 Net cash from / (used in) investing activities (243) (460) 3. Cash flows from financing activities 515 3,491 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options 84 84 3.4 Transaction costs related to issues of equity securities or convertible debt securities (84) (255) 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings - - 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other (Lease Liabilities) - - 3.10 Net cash from / (used in) financing activities 515 3,320 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 1,738 947 4.2 Net cash from / (used in) operating activities (item 1.9 above) (461) (2,258) 4.3 Net cash from / (used in) investing activities (item 2.6 above) (243) (460) 4.4 Net cash from / (used in) financing activities (item 3.10 above) 515 3,320 For personal use only
Page 15
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 3 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (6 months) $A’000 4.5 Effect of movement in exchange rates on cash held - - 4.6 Cash and cash equivalents at end of period* 1,549 1,549 Note: The balance above does not include monies held in trust for the Fifield and Avondale Earn-In Project of $69K as at 31/12/25 and a further $110K received on 28/01/2026. 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 1,549 1,738 5.2 Call deposits - - 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) * 1,549 1,738 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 141 6.2 Aggregate amount of payments to related parties and their associates included in item 2 25 Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments For personal use only
Page 16
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities - - 7.2 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities - - 7.5 Unused financing facilities available at quarter end - 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. Not Applicable 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) (461) 8.2 (Payments for exploration & evaluation (classified as investing activities) (item 2.1(d)) (347) 8.3 Total relevant outgoings (item 8.1 + item 8.2) (808) 8.4 Cash and cash equivalents at quarter end (item 4.6) 1,549 8.5 Unused finance facilities available at quarter end (item 7.5) - 8.6 Total available funding (item 8.4 + item 8.5) 1,549 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 1.92 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. 8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? No, current level of net operating cashflows is expected to decrease in line with a reduction in administration costs following the completion of exploration work programs on 100% - owned projects, and legal costs following the conclusion of a recent arbitration matter. 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? The Company also has access to tradeable shares in Altitude Minerals (ASX: ATT) which at 31/12/25 were valued at $67K, which if added to the available funding under 8.6 above would give 2 quarters of funding availability. Should any additional funds be required the Company has a history of successfully undertaking capital raisings during the last 15 years with its supportive shareholder base. 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? For personal use only
Page 17
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 5 + See chapter 19 of the ASX Listing Rules for defined terms. Yes – as per answer to Question 8.8.2 above Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: 29 January 2026................................................................................... Authorised by: The Board................................................................................... (Name of body or officer authorising release – see note 4) Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter , how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, t he definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity , and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively. For personal use only