Rimfire Pacific Mining Limited has appointed Bronwyn Barnes as Executive Chair and secured commitments for a $2.3 million capital raising, a move aimed at accelerating the company’s transition into a pure-play scandium developer. The financing, priced at 0.8 cents per share, includes $580,000 in contributions from directors and management.

Ms. Barnes will assume the role on 1 September 2026, with former Chair Ian McCubbing transitioning to Non-Executive Director and David Hutton moving to the role of Technical Director to lead resource and exploration activities. The capital injection is earmarked for high-impact drilling to expand the resource base at the Fifield project and to advance metallurgical workstreams.

“Scandium is transitioning from an emerging critical mineral to one of growing strategic importance, with demand accelerating across advanced manufacturing, AI data centre, defence, and aerospace industries.”

“The Board's focus is advancing technical and commercial pathways that will maximise the value of these assets. This includes progressing our low iron processing methodologies, accelerating drilling, expanding the resource base and completing the technical studies required to support future development and strategic pathways.”

— Bronwyn Barnes, Executive Chair

The company’s shift toward a scandium-focused portfolio is supported by the July 2026 engagement of Xcelsior Capital Advisors to assist with critical minerals funding and marketing. This follows technical work conducted earlier in the year, including a seismic survey completed in June 2026 to refine geological understanding across the Fifield site.

The placement is being conducted in two tranches, with the second tranche—which includes director participation—and the issuance of attaching options subject to shareholder approval at a General Meeting scheduled for September 2026.

The company remains active in an area of regional exploration interest, with other industry players such as Inflection Resources completing a significant oversubscribed financing in March 2026 to support copper-gold exploration within the surrounding district. Rimfire plans to continue its metallurgical studies for the Murga Scandium Deposit in parallel with its expanded drilling programs.

Read the full announcement: Executive Chair Appointment and $2.3M Capital Raising