Fifield Scandium Projects

Rimfire has three scandium projects located within the Fifield District in central New South Wales – Rabbit Trap (Rimfire 100%), Avondale (Rimfire 60%), and Fifield (Rimfire 100% with GPR right to earn 50.1%).

The projects collectively host Rimfire’s current scandium resources (see Rimfire ASX Announcements dated 5 September 2024, 20 October 2025 and 13 April 2026) as well several other prospects and drill targets that offer significant exploration upside.

Geologically, scandium mineralisation occurs within a near surface flat - lying laterite blanket that overlies a sequence of (Siluro Ordovician age) mafic and ultramafic rocks.

Three deposits currently make up Rimfire’s Scandium Resource Inventory of 16Kt Scandium Oxide – Murga (12Kt Scandium Oxide), Currajong (3Kt Scandium Oxide), and Melrose (1Kt Scandium Oxide) as shown in the following Table;

Cautionary Statement - With respect to the Mineral Resource Estimates - Rimfire confirms that it is not aware of any new information or data that materially affects the information included in the ASX announcements, and that all material assumptions and technical parameters underpinning the estimates in the ASX announcements continue to apply and have not materially changed.

Murga has excellent extensional potential with Rimfire’s Resource Geologist recommending further drilling to increase the size of the deposit. Significantly Murga scandium is characterised by a relatively low iron content which may be amenable for extraction using lower cost and less complex Atmospheric Leaching (compared to High Pressure Acid Leaching which is typically employed).

Significant upside is also offered by the 100% - owned Rabbit Trap Project where previous air core drilling undertaken by Rimfire at the Malamute prospect has confirmed scandium mineralisation with intercepts such as;

• 30m @ 247ppm Sc (378ppm Sc Oxide) from 25m incl 16m @ 352ppm Sc (540ppm Sc Oxide)
• 10m @ 270ppm Sc (414ppm Sc Oxide) from 25m incl 4m @ 295ppm Sc (452ppm Sc Oxide)

Murga lies within the Fifield Project while Melrose and Currajong lie within the Avondale Project which are subject to respective Earn In Agreements with Rimfire’s exploration partner – Golden Plains Resources (GPR).

Under the terms of the Fifield Earn In Agreement, GPR can earn a 50.1% interest by spending $3.6M and providing to Rimfire a fully committed, irrevocable and binding non-recourse mine development financing proposal to underpin the development of an economic mineral deposit within the Fifield Project (and other conditions having been satisfied). The financing proposal must be based on a detailed feasibility study. Rimfire retains marketing rights

The Avondale Project is owned Rimfire 60% / GPR 40% and the parties are in the process of establishing a Joint Venture to reflect those interests. Under the terms of the JV, both parties fund on a pro rata basis (or dilute) with Rimfire manager and operator.

Rabbit Trap is owned and operated 100% by Rimfire and is not subject to any third-party arrangement.