Rimfire Pacific Mining updates on legal and exploration fronts

Rimfire Pacific Mining (ASX:RIM) has announced the termination of the Fifield Project Earn-in Agreement with Golden Plains Resources Pty Ltd (GPR). The Supreme Court of Victoria heard GPR's application disputing this action, leading Rimfire to agree to a temporary measure. Concurrently, Rimfire is preparing to launch a scandium drilling program at the Murga Scandium Exploration Target.

Overview of Rimfire's legal and exploration initiatives

Rimfire Pacific Mining has terminated the Earn-in Agreement with GPR for the Fifield Project, leading to legal proceedings in the Supreme Court of Victoria. Rimfire agreed to a temporary undertaking regarding the project's status until arbitration resolves the issue. Meanwhile, Rimfire's exploration team is set to begin a scandium drilling program at the Murga Scandium Exploration Target, starting 23 October 2024. This program aims to advance the exploration target to a Mineral Resource Estimate, highlighting Rimfire's ongoing commitment to its resource development strategy. The company remains dedicated to continuous market updates in line with its disclosure obligations.

Executive commentary on project updates and legal proceedings

The Supreme Court hearing resulted in an agreement for a revocable undertaking not to dispose of or encumber the Fifield Project until arbitration resolves the dispute. We are also progressing with a scandium drilling program at the Murga Exploration Target.