MATERIAL CONTRACTS  EXHIBIT 10

20-F ANNUAL REPORT



Filed May 2006



Index:





|Management Contract between Equity Engineering Ltd. and Rimfire Minerals Corporation effective January 1, 2006                                  | 2 
|----------------------------------------------------------------------------------------------------------------------------------------------- | --
|                                                                                                                                                |   
|Termination Agreement between AngloGold Ashanti (U.S.A.) Exploration Inc. and Rimfire Alaska, Ltd. effective December 31, 2005 (Eagle Property) | 4 
|                                                                                                                                                |   
|Termination Agreement between AngloGold Ashanti (U.S.A.) Exploration Inc. and Rimfire Alaska, Ltd. effective December 31, 2005 (Eagle Property) | 12
|                                                                                                                                                |   













MANAGEMENT AGREEMENT





THIS AGREEMENT made as of the 1st day of December, 2005.

BETWEEN:

RIMFIRE MINERALS CORPORATION,

of 700 -700 West Pender

Street, Vancouver, British Columbia, V6C IG8



(the "Company")

OF THE FIRST PART

AND:

EQUITY ENGINEERING LTD.,

of 700- 700 West Pender Street,

Vancouver, British Columbia, V6C IG8



(the "Manager")

OF THE SECOND PART



WHEREAS:



A.

One of the principals of the Manager is David A. Caulfield ("Caulfield "), who has expertise in administration and management which is of value to the Company;

B.

The Company wishes to engage the Manager to provide administration and management services to the Company on the terms and conditions set out in this Agreement;



NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the premises and of the mutual covenants hereinafter contained, and other good and valuable consideration, the receipt of which is acknowledged, the parties hereto agree as follows:



1.

The Company agrees to engage the Manager on the terms and conditions set out herein, commencing as of January 1, 2006.



2.

The Manager, through Caulfield, shall be responsible for the general administration and management of the Company, together with such other duties and responsibilities, as the Board of Directors of the Company shall decide from time to time.



3.

The Company hereby agrees to remunerate the Manager in an amount to be mutually agreed upon at each anniversary date for providing and continuing to provide the services referred to in paragraph 2 herein. The amount shall be $10,800 per month commencing as January 1, 2006 until December 31, 2006.



4.

The Company hereby agrees to remunerate the Manager for the Companys proportional share of rent, email and internet services and administrative services provided by the Managers employees or contractors.



5.

During the term of its engagement hereunder the Manager shall devote sufficient time, attention and expertise to the administration and management of the Company as may be necessary for the proper exercise of its duties hereunder.



6.

This Agreement shall continue until December 31, 2006, provided, however, that either party hereto may terminate this Agreement by giving six months written notice to the other party. In the event the Company does not provide the required six months notice, the Company shall pay the Manager a sum equal to six month's fees hereunder.



7.

This Agreement may be renewed by the Company upon substantially the same terms and conditions for a period of not more than one year.



8.

Any notice under this Agreement shall be given in writing and delivered to the party to receive such notice at the address of the party indicated on page 1 hereof, or at such other address as a party may hereafter designate by notice in writing. Such notice shall be effective forthwith from the date of delivery.



9.

The Manager shall not, during or after the term of this Agreement, for its own benefit or to the detriment of the Company, disclose to any person, firm or corporation any information concerning the business or affairs of the Company that the Manager acquired during the course of, or incidental to, providing services to the Company.



10.

Upon termination of its engagement hereunder, the Manager shall immediately deliver to the Company all correspondence, documents and papers belonging to the Company, which may be in its possession or control.



11.

This Agreement may not be assigned by either party.



12.

This Agreement is subject to acceptance by regulatory authorities, if required.



13.

This Agreement shall enure to the benefit of the parties hereto or their respective successors at law.



14.

This Agreement shall be construed in accordance with the laws of the Province of British Columbia.



IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.



|RIMFIRE MINERALS CORPORATION |  | EQUITY ENGINEERING LTD
|---------------------------- |  | ----------------------
|Per:                         |  | Per:                  
|Authorized Signatory         |  | Authorized Signatory  





TERMINATION AGREEMENT

(EAGLE PROPERTY)



THIS TERMINATION AGREEMENT (Termination Agreement) is made and entered into effective as of December 31, 2005 (Effective Date), by and among AngloGold Ashanti (U.S.A.) Exploration Inc. (formerly known as AngloGold (U.S.A.) Exploration Inc.) (AGAUSA) and Rimfire Alaska, Ltd. (Rimfire), each sometimes referred to individually herein as a party and collectively as the parties.

RECITALS

WHEREAS, AGAUSA and Rimfire are parties to that certain Exploration, Development and Mine Operating Agreement dated on or about January 30, 2002, as amended by that First Amendment to Exploration, Development and Mine Operating Agreement dated on or about December 17, 2003 (collectively, the Agreement); and



WHEREAS, the parties now desire to terminate the Agreement.



NOW, THEREFORE, for good and valuable consideration including without limitation the sum of $10.00 now paid by Rimfire to AGAUSA and the production royalty retained by AGAUSA as described herein, the receipt and sufficiency of which are hereby acknowledged and confirmed, the parties agree as follows:

AGREEMENT

1.0

Termination.  The parties agree that the Agreement is terminated as of the Effective Date subject to the following terms and conditions.  Neither AGAUSA nor Rimfire shall have any further liability or responsibility under the Agreement, except as specifically provided herein.



2.0

Ownership of Agreement Assets after Termination. Notwithstanding the termination of the Agreement, all right, title and ownership interest in and to the property (the Property) subject to the Agreement held by AGAUSA as of the Effective Date, as more fully described in Exhibit A, attached hereto and by this reference made a part hereof, will be transferred by quit claim deed in its entirety to Rimfire; subject however, to a retained production royalty.



3.0

Representations and Warranties of AGAUSA.



3.1

AGAUSA represents, warrants and covenants to Rimfire that:



(a)

AGAUSA has made or caused to be made all governmental filings and paid all rentals, holding fees, location fees, recordation fees, maintenance payments and other payments required by any applicable laws to be paid to the State of Alaska or other appropriate governmental agency in order to maintain the mineral claims comprising the Property in good standing as of the date hereof and until the dates set opposite the respective names thereof in Exhibit A;



(b)

to the knowledge of AGAUSA there is no adverse claim or challenge against or to the ownership of or title to any of the mineral claims comprising the Property, nor to the knowledge of AGAUSA is there any basis therefor, and there are no outstanding agreements or options to acquire or purchase the Property or any portion thereof, and no person other than AGAUSA, pursuant to the provisions hereof, has any royalty or other interest whatsoever in production from any of the mineral claims comprising the Property;



(c)

to the knowledge of AGAUSA there is no outstanding directive or order or similar notice issued by any regulatory agency, including agencies responsible for environmental matters, affecting the Property or AGAUSA nor is there any reason to believe that such an order, directive or similar notice is pending.  AGAUSA also covenants that, to the best of its knowledge, all work carried out on the Property by it has been done in full compliance with all applicable laws and regulations; and



(d)

AGAUSA has provided, or will at the same time as the delivery of this Agreement deliver, to Rimfire all technical reports and other factual engineering data and information relating to the Property which it has in its possession.



4.0

Surrender and Acquisition of Property Interests.



4.1

Rimfire may at any time elect to abandon any one or more of the mineral claims comprised in the Property by giving notice to AGAUSA of such intention.



4.2

For a period of days after the date of delivery of such notice AGAUSA may elect to have any or all of the mineral claims in respect of which such notice has been given transferred to it by delivery of a request therefor to Rimfire, whereupon Rimfire will deliver to AGAUSA a Bill of Sale or other appropriate Deed or assurance in registrable form transferring such mineral claims to AGAUSA.



4.3

Any claims so transferred, if in good standing at the date hereof or if Rimfire causes the same to be placed in good standing after the date hereof, will be in good standing under the applicable legislation for at least days from the date of transfer.



4.4

If AGAUSA fails to make request for the transfer of any mineral claims as aforesaid within such period, Rimfire may then abandon such mineral claim without further notice to AGAUSA.



4.5

Upon any such transfer or abandonment the mineral claims so transferred or abandoned will for all purposes of this Agreement cease to form part of the Property.



5.0

Governing Law, Successors, Binding Effect.  This Termination Agreement shall be governed by the laws of the State of Alaska (other than its rules as to conflicts of law), and it shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, successors, legal representatives and assigns.



6.0

Counterparts.  This Termination Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which when taken together shall constitute one and the same agreement.







8.0

Recording.  The parties agree, simultaneous with the execution and delivery of this Termination Agreement, to execute and deliver a Short Form of Termination Agreement (the Short Form) suitable for recording in the official records of the Fairbanks Recording District, State of Alaska that will give notice of the termination of the Agreement.





ANGLOGOLD ASHANTI (U.S.A.) EXPLORATION INC.

(f/k/a AngloGold (U.S.A.) Exploration Inc.)



By:

Title:

Date:







RIMFIRE ALASKA, LTD.



By:

Title:

Date:







Exhibit A

To

Termination Agreement

By and Among AngloGold Ashanti (U.S.A.) Exploration Inc.

(f/k/a AngloGold (U.S.A.) Exploration Inc.)

And

Rimfire Alaska, Ltd.



Fairbanks Recording District

|Claim     | ADL#   | Meridian   | Township | Range | Section
|--------- | ------ | ---------- | -------- | ----- | -------
|EAGLE 1   | 579385 | Fairbanks  | 7S       | 11E   | 25     
|EAGLE 2   | 579386 | Fairbanks  | 7S       | 11E   | 25     
|EAGLE 3   | 579387 | Fairbanks  | 7S       | 11E   | 25     
|EAGLE 4   | 579388 | Fairbanks  | 7S       | 11E   | 25     
|EAGLE 5   | 579389 | Fairbanks  | 7S       | 12E   | 30     
|EAGLE 6   | 579390 | Fairbanks  | 7S       | 12E   | 30     
|EAGLE 7   | 579391 | Fairbanks  | 7S       | 12E   | 30     
|EAGLE 8   | 579392 | Fairbanks  | 7S       | 12E   | 30     
|EAGLE 9   | 579393 | Fairbanks  | 7S       | 12E   | 29     
|EAGLE 10  | 579394 | Fairbanks  | 7S       | 12E   | 29     
|EAGLE 11  | 579395 | Fairbanks  | 7S       | 12E   | 29     
|EAGLE 12  | 579396 | Fairbanks  | 7S       | 12E   | 29     
|EAGLE 13  | 579397 | Fairbanks  | 7S       | 12E   | 28     
|EAGLE 14  | 579398 | Fairbanks  | 7S       | 12E   | 28     
|EAGLE 15  | 579399 | Fairbanks  | 7S       | 11E   | 25     
|EAGLE 16  | 579400 | Fairbanks  | 7S       | 11E   | 25     
|EAGLE 17  | 579401 | Fairbanks  | 7S       | 11E   | 25     
|EAGLE 18  | 579402 | Fairbanks  | 7S       | 11E   | 25     
|EAGLE 19  | 579403 | Fairbanks  | 7S       | 12E   | 30     
|EAGLE 20  | 579404 | Fairbanks  | 7S       | 12E   | 30     
|EAGLE 21  | 579405 | Fairbanks  | 7S       | 12E   | 30     
|EAGLE 22  | 579406 | Fairbanks  | 7S       | 12E   | 30     
|EAGLE 23  | 579407 | Fairbanks  | 7S       | 12E   | 29     
|EAGLE 24  | 579408 | Fairbanks  | 7S       | 12E   | 29     
|EAGLE 25  | 579409 | Fairbanks  | 7S       | 12E   | 29     
|EAGLE 26  | 579410 | Fairbanks  | 7S       | 12E   | 29     
|EAGLE 27  | 579411 | Fairbanks  | 7S       | 12E   | 28     
|EAGLE 28  | 579412 | Fairbanks  | 7S       | 12E   | 28     
|EAGLE 29  | 579413 | Fairbanks  | 7S       | 11E   | 24     
|EAGLE 30  | 579414 | Fairbanks  | 7S       | 11E   | 24     
|EAGLE 31  | 579415 | Fairbanks  | 7S       | 11E   | 24     
|EAGLE 32  | 579416 | Fairbanks  | 7S       | 11E   | 24     
|EAGLE 33  | 579417 | Fairbanks  | 7S       | 12E   | 19     
|EAGLE 34  | 579418 | Fairbanks  | 7S       | 12E   | 19     
|EAGLE 35  | 579419 | Fairbanks  | 7S       | 12E   | 19     
|EAGLE 36  | 579420 | Fairbanks  | 7S       | 12E   | 19     
|EAGLE 37  | 579421 | Fairbanks  | 7S       | 12E   | 20     
|EAGLE 38  | 579422 | Fairbanks  | 7S       | 12E   | 20     
|EAGLE 39  | 579423 | Fairbanks  | 7S       | 12E   | 20     
|EAGLE 40  | 579424 | Fairbanks  | 7S       | 12E   | 20     
|EAGLE 41  | 579425 | Fairbanks  | 7S       | 12E   | 21     
|EAGLE 42  | 579426 | Fairbanks  | 7S       | 12E   | 21     
|EAGLE 43  | 579427 | Fairbanks  | 7S       | 11E   | 24     
|EAGLE 44  | 579428 | Fairbanks  | 7S       | 11E   | 24     
|EAGLE 45  | 579429 | Fairbanks  | 7S       | 11E   | 24     
|EAGLE 46  | 579430 | Fairbanks  | 7S       | 11E   | 24     
|EAGLE 47  | 579431 | Fairbanks  | 7S       | 12E   | 19     
|EAGLE 48  | 579432 | Fairbanks  | 7S       | 12E   | 19     
|EAGLE 49  | 579433 | Fairbanks  | 7S       | 12E   | 19     
|EAGLE 50  | 579434 | Fairbanks  | 7S       | 12E   | 19     
|EAGLE 51  | 579435 | Fairbanks  | 7S       | 12E   | 20     
|EAGLE 52  | 579436 | Fairbanks  | 7S       | 12E   | 20     
|EAGLE 53  | 579437 | Fairbanks  | 7S       | 12E   | 20     
|EAGLE 54  | 579438 | Fairbanks  | 7S       | 12E   | 20     
|EAGLE 55  | 579439 | Fairbanks  | 7S       | 12E   | 21     
|EAGLE 56  | 579440 | Fairbanks  | 7S       | 12E   | 21     
|EAGLE 57  | 579441 | Fairbanks  | 7S       | 11E   | 24     
|EAGLE 58  | 579442 | Fairbanks  | 7S       | 11E   | 24     
|EAGLE 59  | 579443 | Fairbanks  | 7S       | 11E   | 24     
|EAGLE 60  | 579444 | Fairbanks  | 7S       | 11E   | 24     
|EAGLE 61  | 579445 | Fairbanks  | 7S       | 12E   | 19     
|EAGLE 62  | 579446 | Fairbanks  | 7S       | 12E   | 19     
|EAGLE 63  | 579447 | Fairbanks  | 7S       | 12E   | 19     
|EAGLE 64  | 579448 | Fairbanks  | 7S       | 12E   | 19     
|EAGLE 65  | 579449 | Fairbanks  | 7S       | 12E   | 20     
|EAGLE 66  | 579450 | Fairbanks  | 7S       | 12E   | 20     
|EAGLE 67  | 579451 | Fairbanks  | 7S       | 12E   | 20     
|EAGLE 68  | 579452 | Fairbanks  | 7S       | 12E   | 20     
|EAGLE 69  | 579453 | Fairbanks  | 7S       | 12E   | 21     
|EAGLE 70  | 579454 | Fairbanks  | 7S       | 12E   | 21     
|EAGLE 71  | 579455 | Fairbanks  | 7S       | 11E   | 24     
|EAGLE 72  | 579456 | Fairbanks  | 7S       | 11E   | 24     
|EAGLE 73  | 579457 | Fairbanks  | 7S       | 11E   | 24     
|EAGLE 74  | 579458 | Fairbanks  | 7S       | 11E   | 24     
|EAGLE 75  | 579459 | Fairbanks  | 7S       | 12E   | 19     
|EAGLE 76  | 579460 | Fairbanks  | 7S       | 12E   | 19     
|EAGLE 77  | 579461 | Fairbanks  | 7S       | 12E   | 19     
|EAGLE 78  | 579462 | Fairbanks  | 7S       | 12E   | 19     
|EAGLE 79  | 579463 | Fairbanks  | 7S       | 12E   | 20     
|EAGLE 80  | 579464 | Fairbanks  | 7S       | 12E   | 20     
|EAGLE 81  | 579465 | Fairbanks  | 7S       | 12E   | 20     
|EAGLE 82  | 579466 | Fairbanks  | 7S       | 12E   | 20     
|EAGLE 83  | 579467 | Fairbanks  | 7S       | 12E   | 21     
|EAGLE 84  | 579468 | Fairbanks  | 7S       | 12E   | 21     
|EAGLE 85  | 579469 | Fairbanks  | 7S       | 12E   | 17     
|EAGLE 86  | 579470 | Fairbanks  | 7S       | 12E   | 17     
|EAGLE 87  | 579471 | Fairbanks  | 7S       | 12E   | 17     
|EAGLE 88  | 579472 | Fairbanks  | 7S       | 12E   | 17     
|EAGLE 89  | 579473 | Fairbanks  | 7S       | 12E   | 16     
|EAGLE 90  | 579474 | Fairbanks  | 7S       | 12E   | 16     
|EAGLE 91  | 579475 | Fairbanks  | 7S       | 12E   | 17     
|EAGLE 92  | 579476 | Fairbanks  | 7S       | 12E   | 17     
|EAGLE 93  | 579477 | Fairbanks  | 7S       | 12E   | 17     
|EAGLE 94  | 579478 | Fairbanks  | 7S       | 12E   | 17     
|EAGLE 95  | 579479 | Fairbanks  | 7S       | 12E   | 16     
|EAGLE 96  | 579480 | Fairbanks  | 7S       | 12E   | 16     
|EAGLE 97  | 579481 | Fairbanks  | 7S       | 12E   | 17     
|EAGLE 98  | 579482 | Fairbanks  | 7S       | 12E   | 17     
|EAGLE 99  | 579483 | Fairbanks  | 7S       | 12E   | 17     
|EAGLE 100 | 579484 | Fairbanks  | 7S       | 12E   | 16     
|EAGLE 101 | 579485 | Fairbanks  | 7S       | 12E   | 16     
|EAGLE 102 | 579486 | Fairbanks  | 7S       | 12E   | 17     
|EAGLE 103 | 579487 | Fairbanks  | 7S       | 12E   | 17     
|EAGLE 104 | 579488 | Fairbanks  | 7S       | 12E   | 17     
|EAGLE 105 | 579489 | Fairbanks  | 7S       | 12E   | 16     
|EAGLE 106 | 579490 | Fairbanks  | 7S       | 12E   | 16     
|SAND 1    | 605420 | Fairbanks  | 7 S      | 12    | 16     
|SAND 2    | 605421 | Fairbanks  | 7 S      | 12    | 15     
|SAND 3    | 605422 | Fairbanks  | 7 S      | 12    | 15     
|SAND 4    | 605423 | Fairbanks  | 7 S      | 12    | 16     
|SAND 5    | 605424 | Fairbanks  | 7 S      | 12    | 15     
|SAND 6    | 605425 | Fairbanks  | 7 S      | 12    | 15     
|SAND 7    | 605426 | Fairbanks  | 7 S      | 12    | 21     
|SAND 8    | 605427 | Fairbanks  | 7 S      | 12    | 22     
|SAND 9    | 605428 | Fairbanks  | 7 S      | 12    | 22     
|SAND  10  | 605429 | Fairbanks  | 7 S      | 12    | 21     
|SAND  11  | 605430 | Fairbanks  | 7 S      | 12    | 22     
|SAND  12  | 605431 | Fairbanks  | 7 S      | 12    | 22     
|SAND  13  | 605432 | Fairbanks  | 7 S      | 12    | 28     
|SAND  14  | 605433 | Fairbanks  | 7 S      | 12    | 27     
|SAND  15  | 605434 | Fairbanks  | 7 S      | 12    | 27     
|SAND  16  | 605435 | Fairbanks  | 7 S      | 12    | 28     
|SAND  17  | 605436 | Fairbanks  | 7 S      | 12    | 27     
|SAND  18  | 605437 | Fairbanks  | 7 S      | 12    | 27     
|SAND  19  | 605438 | Fairbanks  | 7 S      | 11    | 14     
|SAND  20  | 605439 | Fairbanks  | 7 S      | 11    | 14     
|SAND  21  | 605440 | Fairbanks  | 7 S      | 11    | 13     
|SAND  22  | 605441 | Fairbanks  | 7 S      | 11    | 13     
|SAND  23  | 605442 | Fairbanks  | 7 S      | 12    | 18     
|SAND  24  | 605443 | Fairbanks  | 7 S      | 12    | 18     
|SAND  25  | 605444 | Fairbanks  | 7 S      | 11    | 23     
|SAND  26  | 605445 | Fairbanks  | 7 S      | 11    | 23     
|SAND  27  | 605446 | Fairbanks  | 7 S      | 11    | 23     
|SAND  28  | 605447 | Fairbanks  | 7 S      | 11    | 23     
|SAND  29  | 605448 | Fairbanks  | 7 S      | 11    | 26     
|SAND  30  | 605449 | Fairbanks  | 7 S      | 11    | 26     
|SAND  31  | 605450 | Fairbanks  | 7 S      | 11    | 26     
|SAND  32  | 605451 | Fairbanks  | 7 S      | 11    | 26     
|SAND  33  | 605452 | Fairbanks  | 7 S      | 11    | 25     
|SAND  34  | 605453 | Fairbanks  | 7 S      | 11    | 25     
|SAND  35  | 605454 | Fairbanks  | 7 S      | 12    | 30     
|SAND  36  | 605455 | Fairbanks  | 7 S      | 12    | 30     
|SAND  37  | 605456 | Fairbanks  | 7 S      | 12    | 29     
|SAND  38  | 605457 | Fairbanks  | 7 S      | 12    | 29     
|SAND  39  | 605458 | Fairbanks  | 7 S      | 12    | 28     
|EX 1      | 605507 | Fairbanks  | 7S       | 11E   | 36     
|EX 2      | 605508 | Fairbanks  | 7S       | 11E   | 36     
|EX 3      | 605509 | Fairbanks  | 7S       | 12E   | 31     
|EX 4      | 605510 | Fairbanks  | 7S       | 12E   | 31     
|EX 5      | 605511 | Fairbanks  | 7S       | 12E   | 32     
|EX 6      | 605512 | Fairbanks  | 7S       | 12E   | 32     
|EX 7      | 605513 | Fairbanks  | 7S       | 12E   | 33     
|EX 8      | 605514 | Fairbanks  | 7S       | 12E   | 33     
|EX 9      | 605515 | Fairbanks  | 7S       | 12E   | 34     
|EX 10     | 605516 | Fairbanks  | 7S       | 12E   | 34     
|EX 11     | 605517 | Fairbanks  | 7S       | 12E   | 7      
|EX 12     | 605518 | Fairbanks  | 7S       | 12E   | 8      
|EX 13     | 605519 | Fairbanks  | 7S       | 12E   | 8      
|EX 14     | 605520 | Fairbanks  | 7S       | 12E   | 9      
|EX 15     | 605521 | Fairbanks  | 7S       | 12E   | 9      
|EX 16     | 605522 | Fairbanks  | 7S       | 12E   | 18     
|EX 17     | 605523 | Fairbanks  | 7S       | 12E   | 18     
|EX 18     | 605524 | Fairbanks  | 7S       | 12E   | 18     
|EX 19     | 605525 | Fairbanks  | 7S       | 12E   | 17     
|EX 20     | 605526 | Fairbanks  | 7S       | 12E   | 17     
|EX 21     | 641468 | Fairbanks  | 7S       | 12E   | 10     
|EX 22     | 641469 | Fairbanks  | 7S       | 12E   | 10     
|EX 23     | 641470 | Fairbanks  | 7S       | 12E   | 11     
|EX 24     | 641471 | Fairbanks  | 7S       | 12E   | 10     
|EX 25     | 641472 | Fairbanks  | 7S       | 12E   | 10     
|EX 26     | 641473 | Fairbanks  | 7S       | 12E   | 11     
|EX 27     | 641474 | Fairbanks  | 7S       | 12E   | 14     
|EX 28     | 641475 | Fairbanks  | 7S       | 12E   | 14     
|EX 29     | 641476 | Fairbanks  | 7S       | 12E   | 23     
|EX 30     | 641477 | Fairbanks  | 7S       | 12E   | 23     
|EX 31     | 641478 | Fairbanks  | 7S       | 12E   | 31     
|EX 32     | 641479 | Fairbanks  | 7S       | 12E   | 26     
|EX 33     | 641480 | Fairbanks  | 7S       | 12E   | 35     
|Total     |        | 178 Claims |          |       |        





TERMINATION AGREEMENT

(ER PROPERTY)





THIS TERMINATION AGREEMENT (Termination Agreement) is made and entered into effective as of December 31, 2005 (Effective Date), by and among AngloGold Ashanti (U.S.A.) Exploration Inc. (formerly known as AngloGold (U.S.A.) Exploration Inc.) (AGAUSA) and Rimfire Alaska, Ltd. (Rimfire), each sometimes referred to individually herein as a party and collectively as the parties.

RECITALS

WHEREAS, AGAUSA and Rimfire are parties to that certain Exploration, Development and Mine Operating Agreement dated on or about January 30, 2002, as amended by that First Amendment to Exploration, Development and Mine Operating Agreement dated on or about December 17, 2003 (collectively, the Agreement); and



WHEREAS, the parties now desire to terminate the Agreement.



NOW, THEREFORE, for good and valuable consideration including without limitation the sum of $10.00 now paid by Rimfire to AGAUSA and the production royalty retained by AGAUSA as described herein, the receipt and sufficiency of which are hereby acknowledged and confirmed, the parties agree as follows:

AGREEMENT

1.0

Termination.  The parties agree that the Agreement is terminated as of the Effective Date subject to the following terms and conditions.  Neither AGAUSA nor Rimfire shall have any further liability or responsibility under the Agreement, except as specifically provided herein.



2.0

Ownership of Agreement Assets after Termination. Notwithstanding the termination of the Agreement, all right, title and ownership interest in and to the property (the Property) subject to the Agreement held by AGAUSA as of the Effective Date, as more fully described in Exhibit A, attached hereto and by this reference made a part hereof, will be transferred by quit claim deed in its entirety to Rimfire; subject however, to a retained production royalty.



3.0

Representations and Warranties of AGAUSA.



3.1

AGAUSA represents, warrants and covenants to Rimfire that:



(a)

AGAUSA has made or caused to be made all governmental filings and paid all rentals, holding fees, location fees, recordation fees, maintenance payments and other payments required by any applicable laws to be paid to the State of Alaska or other appropriate governmental agency in order to maintain the mineral claims comprising the Property in good standing as of the date hereof and until the dates set opposite the respective names thereof in Exhibit A;



(b)

to the knowledge of AGAUSA there is no adverse claim or challenge against or to the ownership of or title to any of the mineral claims comprising the Property, nor to the knowledge of AGAUSA is there any basis therefor, and there are no outstanding agreements or options to acquire or purchase the Property or any portion thereof, and no person other than AGAUSA, pursuant to the provisions hereof, has any royalty or other interest whatsoever in production from any of the mineral claims comprising the Property;



(c)

to the knowledge of AGAUSA there is no outstanding directive or order or similar notice issued by any regulatory agency, including agencies responsible for environmental matters, affecting the Property or AGAUSA nor is there any reason to believe that such an order, directive or similar notice is pending.  AGAUSA also covenants that, to the best of its knowledge, all work carried out on the Property by it has been done in full compliance with all applicable laws and regulations; and



(d)

AGAUSA has provided, or will at the same time as the delivery of this Agreement deliver, to Rimfire all technical reports and other factual engineering data and information relating to the Property which it has in its possession.



4.0

Surrender and Acquisition of Property Interests.



4.1

Rimfire may at any time elect to abandon any one or more of the mineral claims comprised in the Property by giving notice to AGAUSA of such intention.



4.2

For a period of days after the date of delivery of such notice AGAUSA may elect to have any or all of the mineral claims in respect of which such notice has been given transferred to it by delivery of a request therefor to Rimfire, whereupon Rimfire will deliver to AGAUSA a Bill of Sale or other appropriate Deed or assurance in registrable form transferring such mineral claims to AGAUSA.



4.3

Any claims so transferred, if in good standing at the date hereof or if Rimfire causes the same to be placed in good standing after the date hereof, will be in good standing under the applicable legislation for at least days from the date of transfer.



4.4

If AGAUSA fails to make request for the transfer of any mineral claims as aforesaid within such period, Rimfire may then abandon such mineral claim without further notice to AGAUSA.



4.5

Upon any such transfer or abandonment the mineral claims so transferred or abandoned will for all purposes of this Agreement cease to form part of the Property.



5.0

Governing Law, Successors, Binding Effect.  This Termination Agreement shall be governed by the laws of the State of Alaska (other than its rules as to conflicts of law), and it shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, successors, legal representatives and assigns.



6.0

Counterparts.  This Termination Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which when taken together shall constitute one and the same agreement.









8.0

Recording.  The parties agree, simultaneous with the execution and delivery of this Termination Agreement, to execute and deliver a Short Form of Termination Agreement (the Short Form) suitable for recording in the official records of the Fairbanks Recording District, State of Alaska that will give notice of the termination of the Agreement.





ANGLOGOLD ASHANTI (U.S.A.) EXPLORATION INC.

(f/k/a AngloGold (U.S.A.) Exploration Inc.)



By:

Title:

Date:







RIMFIRE ALASKA, LTD.



By:

Title:

Date:







Exhibit A

To

Termination Agreement

By and Among AngloGold Ashanti (U.S.A.) Exploration Inc.

(f/k/a AngloGold (U.S.A.) Exploration Inc.)

And

Rimfire Alaska, Ltd.



Fairbanks Recording District



|Claim   | ADL#   | Meridian   | Township | Range | Section
|------- | ------ | ---------- | -------- | ----- | -------
|FIRE 4  | 579034 | Fairbanks  | 5S       | 13E   | 21     
|FIRE 5  | 579035 | Fairbanks  | 5S       | 13E   | 22     
|FIRE 6  | 579036 | Fairbanks  | 5S       | 13E   | 22     
|FIRE 7  | 579037 | Fairbanks  | 5S       | 13E   | 22     
|FIRE 8  | 579038 | Fairbanks  | 5S       | 13E   | 22     
|FIRE 9  | 579039 | Fairbanks  | 5S       | 13E   | 23     
|FIRE 10 | 579040 | Fairbanks  | 5S       | 13E   | 23     
|FIRE 11 | 579041 | Fairbanks  | 5S       | 13E   | 23     
|FIRE 12 | 579042 | Fairbanks  | 5S       | 13E   | 23     
|FIRE 16 | 579046 | Fairbanks  | 5S       | 13E   | 21     
|FIRE 17 | 579047 | Fairbanks  | 5S       | 13E   | 22     
|FIRE 18 | 579048 | Fairbanks  | 5S       | 13E   | 22     
|FIRE 19 | 579049 | Fairbanks  | 5S       | 13E   | 22     
|FIRE 20 | 579050 | Fairbanks  | 5S       | 13E   | 22     
|FIRE 21 | 579051 | Fairbanks  | 5S       | 13E   | 23     
|FIRE 22 | 579052 | Fairbanks  | 5S       | 13E   | 23     
|FIRE 23 | 579053 | Fairbanks  | 5S       | 13E   | 23     
|FIRE 24 | 579054 | Fairbanks  | 5S       | 13E   | 23     
|FIRE 25 | 579055 | Fairbanks  | 5S       | 13E   | 15     
|FIRE 26 | 579056 | Fairbanks  | 5S       | 13E   | 15     
|FIRE 27 | 579057 | Fairbanks  | 5S       | 13E   | 15     
|FIRE 28 | 579058 | Fairbanks  | 5S       | 13E   | 15     
|FIRE 29 | 579059 | Fairbanks  | 5S       | 13E   | 14     
|FIRE 30 | 579060 | Fairbanks  | 5S       | 13E   | 14     
|FIRE 31 | 579061 | Fairbanks  | 5S       | 13E   | 14     
|FIRE 32 | 579062 | Fairbanks  | 5S       | 13E   | 14     
|FIRE 33 | 579063 | Fairbanks  | 5S       | 13E   | 15     
|FIRE 34 | 579064 | Fairbanks  | 5S       | 13E   | 15     
|FIRE 35 | 579065 | Fairbanks  | 5S       | 13E   | 15     
|FIRE 36 | 579066 | Fairbanks  | 5S       | 13E   | 15     
|FIRE 37 | 579067 | Fairbanks  | 5S       | 13E   | 14     
|FIRE 38 | 579068 | Fairbanks  | 5S       | 13E   | 14     
|FIRE 39 | 579069 | Fairbanks  | 5S       | 13E   | 14     
|FIRE 40 | 579070 | Fairbanks  | 5S       | 13E   | 14     
|FIRE 41 | 579071 | Fairbanks  | 5S       | 13E   | 15     
|FIRE 42 | 579072 | Fairbanks  | 5S       | 13E   | 15     
|FIRE 43 | 579073 | Fairbanks  | 5S       | 13E   | 15     
|FIRE 44 | 579074 | Fairbanks  | 5S       | 13E   | 15     
|FIRE 45 | 579075 | Fairbanks  | 5S       | 13E   | 14     
|FIRE 46 | 579076 | Fairbanks  | 5S       | 13E   | 14     
|FIRE 47 | 579077 | Fairbanks  | 5S       | 13E   | 14     
|FIRE 48 | 579078 | Fairbanks  | 5S       | 13E   | 14     
|FIRE 49 | 579079 | Fairbanks  | 5S       | 13E   | 15     
|FIRE 50 | 579080 | Fairbanks  | 5S       | 13E   | 15     
|FIRE 51 | 579081 | Fairbanks  | 5S       | 13E   | 15     
|FIRE 52 | 579082 | Fairbanks  | 5S       | 13E   | 15     
|FIRE 53 | 579083 | Fairbanks  | 5S       | 13E   | 14     
|FIRE 54 | 579084 | Fairbanks  | 5S       | 13E   | 14     
|FIRE 55 | 579085 | Fairbanks  | 5S       | 13E   | 14     
|FIRE 56 | 579086 | Fairbanks  | 5S       | 13E   | 14     
|ER 3    | 579158 | Fairbanks  | 5S       | 13E   | 33     
|ER 4    | 579159 | Fairbanks  | 5S       | 13E   | 33     
|ER 5    | 579160 | Fairbanks  | 5S       | 13E   | 34     
|ER 6    | 579161 | Fairbanks  | 5S       | 13E   | 34     
|ER 7    | 579162 | Fairbanks  | 5S       | 13E   | 34     
|ER 8    | 579163 | Fairbanks  | 5S       | 13E   | 34     
|ER 9    | 579164 | Fairbanks  | 5S       | 13E   | 35     
|ER 10   | 579165 | Fairbanks  | 5S       | 13E   | 35     
|ER 11   | 579166 | Fairbanks  | 5S       | 13E   | 35     
|ER 12   | 579167 | Fairbanks  | 5S       | 13E   | 35     
|ER 15   | 579170 | Fairbanks  | 5S       | 13E   | 33     
|ER 16   | 579171 | Fairbanks  | 5S       | 13E   | 33     
|ER 17   | 579172 | Fairbanks  | 5S       | 13E   | 34     
|ER 18   | 579173 | Fairbanks  | 5S       | 13E   | 34     
|ER 19   | 579174 | Fairbanks  | 5S       | 13E   | 34     
|ER 20   | 579175 | Fairbanks  | 5S       | 13E   | 34     
|ER 21   | 579176 | Fairbanks  | 5S       | 13E   | 35     
|ER 22   | 579177 | Fairbanks  | 5S       | 13E   | 35     
|ER 23   | 579178 | Fairbanks  | 5S       | 13E   | 35     
|ER 24   | 579179 | Fairbanks  | 5S       | 13E   | 35     
|ER 27   | 579182 | Fairbanks  | 5S       | 13E   | 33     
|ER 28   | 579183 | Fairbanks  | 5S       | 13E   | 33     
|ER 29   | 579184 | Fairbanks  | 5S       | 13E   | 34     
|ER 30   | 579185 | Fairbanks  | 5S       | 13E   | 34     
|ER 31   | 579186 | Fairbanks  | 5S       | 13E   | 34     
|ER 32   | 579187 | Fairbanks  | 5S       | 13E   | 34     
|ER 33   | 579188 | Fairbanks  | 5S       | 13E   | 35     
|ER 34   | 579189 | Fairbanks  | 5S       | 13E   | 35     
|ER 35   | 579190 | Fairbanks  | 5S       | 13E   | 35     
|ER 36   | 579191 | Fairbanks  | 5S       | 13E   | 35     
|ER 39   | 579194 | Fairbanks  | 5S       | 13E   | 33     
|ER 40   | 579195 | Fairbanks  | 5S       | 13E   | 33     
|ER 41   | 579196 | Fairbanks  | 5S       | 13E   | 34     
|ER 42   | 579197 | Fairbanks  | 5S       | 13E   | 34     
|ER 43   | 579198 | Fairbanks  | 5S       | 13E   | 34     
|ER 44   | 579199 | Fairbanks  | 5S       | 13E   | 34     
|ER 45   | 579200 | Fairbanks  | 5S       | 13E   | 35     
|ER 46   | 579201 | Fairbanks  | 5S       | 13E   | 35     
|ER 47   | 579202 | Fairbanks  | 5S       | 13E   | 35     
|ER 48   | 579203 | Fairbanks  | 5S       | 13E   | 35     
|ER 51   | 579206 | Fairbanks  | 5S       | 13E   | 28     
|ER 52   | 579207 | Fairbanks  | 5S       | 13E   | 28     
|ER 53   | 579208 | Fairbanks  | 5S       | 13E   | 27     
|ER 54   | 579209 | Fairbanks  | 5S       | 13E   | 27     
|ER 55   | 579210 | Fairbanks  | 5S       | 13E   | 27     
|ER 56   | 579211 | Fairbanks  | 5S       | 13E   | 27     
|ER 57   | 579212 | Fairbanks  | 5S       | 13E   | 26     
|ER 58   | 579213 | Fairbanks  | 5S       | 13E   | 26     
|ER 59   | 579214 | Fairbanks  | 5S       | 13E   | 26     
|ER 60   | 579215 | Fairbanks  | 5S       | 13E   | 26     
|ER 63   | 579218 | Fairbanks  | 5S       | 13E   | 28     
|ER 64   | 579219 | Fairbanks  | 5S       | 13E   | 28     
|ER 65   | 579220 | Fairbanks  | 5S       | 13E   | 27     
|ER 66   | 579221 | Fairbanks  | 5S       | 13E   | 27     
|ER 67   | 579222 | Fairbanks  | 5S       | 13E   | 27     
|ER 68   | 579223 | Fairbanks  | 5S       | 13E   | 27     
|ER 69   | 579224 | Fairbanks  | 5S       | 13E   | 26     
|ER 70   | 579225 | Fairbanks  | 5S       | 13E   | 26     
|ER 71   | 579226 | Fairbanks  | 5S       | 13E   | 26     
|ER 72   | 579227 | Fairbanks  | 5S       | 13E   | 26     
|ER 75   | 579230 | Fairbanks  | 5S       | 13E   | 28     
|ER 76   | 579231 | Fairbanks  | 5S       | 13E   | 28     
|ER 77   | 579232 | Fairbanks  | 5S       | 13E   | 27     
|ER 78   | 579233 | Fairbanks  | 5S       | 13E   | 27     
|ER 79   | 579234 | Fairbanks  | 5S       | 13E   | 27     
|ER 80   | 579235 | Fairbanks  | 5S       | 13E   | 27     
|ER 81   | 579236 | Fairbanks  | 5S       | 13E   | 26     
|ER 82   | 579237 | Fairbanks  | 5S       | 13E   | 26     
|ER 83   | 579238 | Fairbanks  | 5S       | 13E   | 26     
|ER 84   | 579239 | Fairbanks  | 5S       | 13E   | 26     
|ER 87   | 579242 | Fairbanks  | 5S       | 13E   | 28     
|ER 88   | 579243 | Fairbanks  | 5S       | 13E   | 28     
|ER 89   | 579244 | Fairbanks  | 5S       | 13E   | 27     
|ER 90   | 579245 | Fairbanks  | 5S       | 13E   | 27     
|ER 91   | 579246 | Fairbanks  | 5S       | 13E   | 27     
|ER 92   | 579247 | Fairbanks  | 5S       | 13E   | 27     
|ER 93   | 579248 | Fairbanks  | 5S       | 13E   | 26     
|ER 94   | 579249 | Fairbanks  | 5S       | 13E   | 26     
|ER 95   | 579250 | Fairbanks  | 5S       | 13E   | 26     
|ER 96   | 579251 | Fairbanks  | 5S       | 13E   | 26     
|ER 99   | 579254 | Fairbanks  | 5S       | 13E   | 21     
|ER 100  | 579255 | Fairbanks  | 5S       | 13E   | 21     
|ER 101  | 579256 | Fairbanks  | 5S       | 13E   | 22     
|ER 102  | 579257 | Fairbanks  | 5S       | 13E   | 22     
|ER 103  | 579258 | Fairbanks  | 5S       | 13E   | 22     
|ER 104  | 579259 | Fairbanks  | 5S       | 13E   | 22     
|ER 105  | 579260 | Fairbanks  | 5S       | 13E   | 23     
|ER 106  | 579261 | Fairbanks  | 5S       | 13E   | 23     
|ER 107  | 579262 | Fairbanks  | 5S       | 13E   | 23     
|ER 108  | 579263 | Fairbanks  | 5S       | 13E   | 23     
|ER 111  | 579266 | Fairbanks  | 5S       | 13E   | 21     
|ER 112  | 579267 | Fairbanks  | 5S       | 13E   | 21     
|ER 113  | 579268 | Fairbanks  | 5S       | 13E   | 22     
|ER 114  | 579269 | Fairbanks  | 5S       | 13E   | 22     
|ER 115  | 579270 | Fairbanks  | 5S       | 13E   | 22     
|ER 116  | 579271 | Fairbanks  | 5S       | 13E   | 22     
|ER 117  | 579272 | Fairbanks  | 5S       | 13E   | 23     
|ER 118  | 579273 | Fairbanks  | 5S       | 13E   | 23     
|ER 119  | 579274 | Fairbanks  | 5S       | 13E   | 23     
|ER 120  | 579275 | Fairbanks  | 5S       | 13E   | 23     
|OGO 35  | 595262 | Fairbanks  | 5S       | 14E   | 7      
|OGO 36  | 595263 | Fairbanks  | 5S       | 14E   | 7      
|OGO 37  | 595264 | Fairbanks  | 5S       | 14E   | 7      
|OGO 38  | 595265 | Fairbanks  | 5S       | 14E   | 8      
|OGO 39  | 595266 | Fairbanks  | 5S       | 14E   | 8      
|OGO 42  | 595269 | Fairbanks  | 5S       | 14E   | 7      
|OGO 43  | 595270 | Fairbanks  | 5S       | 14E   | 7      
|OGO 44  | 595271 | Fairbanks  | 5S       | 14E   | 7      
|OGO 45  | 595272 | Fairbanks  | 5S       | 14E   | 8      
|OGO 46  | 595273 | Fairbanks  | 5S       | 14E   | 8      
|OGO 47  | 595274 | Fairbanks  | 5S       | 13E   | 12     
|OGO 48  | 595275 | Fairbanks  | 5S       | 14E   | 7      
|OGO 49  | 595276 | Fairbanks  | 5S       | 14E   | 7      
|OGO 50  | 595277 | Fairbanks  | 5S       | 14E   | 7      
|OGO 51  | 595278 | Fairbanks  | 5S       | 14E   | 7      
|OGO 52  | 595279 | Fairbanks  | 5S       | 14E   | 8      
|OGO 53  | 595280 | Fairbanks  | 5S       | 14E   | 8      
|OGO 54  | 595281 | Fairbanks  | 5S       | 13E   | 12     
|OGO 55  | 595282 | Fairbanks  | 5S       | 14E   | 7      
|OGO 56  | 595283 | Fairbanks  | 5S       | 14E   | 7      
|OGO 57  | 595284 | Fairbanks  | 5S       | 14E   | 7      
|OGO 58  | 595285 | Fairbanks  | 5S       | 14E   | 7      
|OGO 59  | 595286 | Fairbanks  | 5S       | 14E   | 8      
|OGO 60  | 595287 | Fairbanks  | 5S       | 14E   | 8      
|OGO 61  | 595288 | Fairbanks  | 5S       | 13E   | 13     
|OGO 62  | 595289 | Fairbanks  | 5S       | 14E   | 17     
|OGO 63  | 595290 | Fairbanks  | 5S       | 14E   | 17     
|OGO 64  | 595291 | Fairbanks  | 5S       | 13E   | 13     
|OGO 65  | 595292 | Fairbanks  | 5S       | 14E   | 17     
|OGO 66  | 595293 | Fairbanks  | 5S       | 14E   | 17     
|OGO 67  | 595294 | Fairbanks  | 5S       | 14E   | 17     
|OGO 68  | 595295 | Fairbanks  | 5S       | 14E   | 17     
|OGO 69  | 595296 | Fairbanks  | 5S       | 14E   | 17     
|OGO 70  | 595297 | Fairbanks  | 5S       | 14E   | 17     
|OGO 71  | 595298 | Fairbanks  | 5S       | 14E   | 20     
|OGO 72  | 595299 | Fairbanks  | 5S       | 14E   | 20     
|OGO 73  | 595300 | Fairbanks  | 5S       | 14E   | 20     
|OGO 74  | 595301 | Fairbanks  | 5S       | 14E   | 20     
|OGO 75  | 595302 | Fairbanks  | 5S       | 14E   | 20     
|OGO 76  | 595303 | Fairbanks  | 5S       | 14E   | 20     
|OGO 143 | 595370 | Fairbanks  | 5S       | 13E   | 12     
|OGO 144 | 595371 | Fairbanks  | 5S       | 13E   | 12     
|OGO 145 | 595372 | Fairbanks  | 5S       | 13E   | 12     
|OGO 146 | 595373 | Fairbanks  | 5S       | 13E   | 12     
|OGO 147 | 595374 | Fairbanks  | 5S       | 13E   | 12     
|OGO 148 | 595375 | Fairbanks  | 5S       | 13E   | 12     
|OGO 149 | 595376 | Fairbanks  | 5S       | 13E   | 13     
|OGO 150 | 595377 | Fairbanks  | 5S       | 13E   | 13     
|OGO 151 | 595378 | Fairbanks  | 5S       | 13E   | 13     
|OGO 152 | 595379 | Fairbanks  | 5S       | 13E   | 13     
|OGO 153 | 595380 | Fairbanks  | 5S       | 13E   | 13     
|OGO 154 | 595381 | Fairbanks  | 5S       | 13E   | 13     
|ZAPPA 1 | 605091 | Fairbanks  | 5S       | 13E   | 28     
|ZAPPA 2 | 605092 | Fairbanks  | 5S       | 13E   | 28     
|ZAPPA 3 | 605093 | Fairbanks  | 5S       | 13E   | 33     
|ZAPPA 4 | 605094 | Fairbanks  | 5S       | 13E   | 33     
|JAZZ  1 | 605459 | Fairbanks  | 5 S      | 13E   | 16     
|JAZZ  2 | 605460 | Fairbanks  | 5 S      | 13E   | 16     
|JAZZ  3 | 605461 | Fairbanks  | 5 S      | 13E   | 17     
|JAZZ  4 | 605462 | Fairbanks  | 5 S      | 13E   | 16     
|JAZZ  5 | 605463 | Fairbanks  | 5 S      | 13E   | 16     
|JAZZ  6 | 605464 | Fairbanks  | 5 S      | 13E   | 20     
|JAZZ  7 | 605465 | Fairbanks  | 5 S      | 13E   | 20     
|JAZZ  8 | 605466 | Fairbanks  | 5 S      | 13E   | 21     
|JAZZ  9 | 605467 | Fairbanks  | 5 S      | 13E   | 20     
|JAZZ 10 | 605468 | Fairbanks  | 5 S      | 13E   | 20     
|JAZZ 11 | 605469 | Fairbanks  | 5 S      | 13E   | 21     
|JAZZ 12 | 605470 | Fairbanks  | 5 S      | 13E   | 21     
|JAZZ 13 | 605471 | Fairbanks  | 5 S      | 13E   | 21     
|Total   |        | 219 Claims |          |       |