Inmet Mining signs farm-in agreement on Rimfire's Barmedman Project, Australia

On January 26, 2009, Rimfire Minerals Corporation (TSX VENTURE:RFM) announced that Inmet Mining Corporation had signed a farm-in agreement on the Barmedman Property, in New South Wales, Australia.

Under the terms of the agreement, Inmet can earn a 60% interest by funding at least $5 million in exploration on the property over four years, including $400,000 in the first year. Inmet will make staged cash payments totalling $250,000 over the earn-in period, including $50,000 upon signing of the agreement. (All figures are in Australian dollars.)

The Barmedman deal marks the second option agreement between Inmet and Rimfire.

Inmet was advised in this transaction by Andrew Gabrielson and Sarah Mamoser of Fasken Martineau.