Two men and a woman are in police custody after they were captured in the Cameron's Creek area, where a large fire is threatening properties.

New England police said the trio was arrested just after 3pm, after investigations into an alleged crime spree in the Bundarra area today.

Police said shortly before 11am, New England officers were patrolling the Bundarra township when they claim they spotted a Holden Commodore speeding.

Officers said they tried to stop the Commodore, but when it failed to stop they initiated a pursuit.

Police allege the Commodore then drove onto a property before losing control.

All three occupants inside ran from the scene into a nearby home, where they are alleged to have stolen a second vehicle at knifepoint. They then drove off.

New England police called for back-up in the Cameron's Creek area, after reported sightings of the stolen car.

It was later found dumped and had been torched.

That fire quickly spread in the dry conditions. The RFS, backed by aircraft, remain on scene as members work to extinguish the fire, which has spread into the Stony Batter Creek Nature Reserve.

Police said several other fires are believed to have been started as a result of the incident.

The trio are in custody at Armidale police station, where they are being questioned by officers.

No charges have been laid, but investigations are continuing.

A watch-and-act fire alert remains in place for the El Dorado fire, which has burnt more than 140 hectares. The Cameron's Creek fire was more than 136 hectares in size by 5pm.

Both fires are still out of control, and the RFS is urging residents to remain vigilant.

A MAJOR police operation is under way near Bundarra after suspicious blazes broke out on Thursday afternoon, that are now threatening properties.

The RFS has issued a Watch-and-Act fire warning for the Camerons Creek area, in the Uralla council zone, after multiple fires were lit.

The RFS has deployed the large air tanker, which is en route and expected to drop up to 15,000 litres of fire retardant.

Firefighters are battling to control the suspicious fires, one of which was started on Karingal Road at Camerons Creek.

New England police have deployed several police resources to the area and have confirmed a major operation is continuing, after an earlier pursuit.

"There is a police investigation under way in the Camerons Creek area, following a police pursuit and a number of fires," a police spokesperson said.

The RFS is urging residents to stay alert.

A spokeswoman for NSW RFS said the appearance of three, new fires at Abington, Cameron's Creek and Emu Crossing to the east of Bundarra, was being investigated by local Police.

The spokeswoman said officers were on the scene of the suspicious outbreaks and in the process of tracking down the perpetrators.

New England Inspector Roger Best confirmed that police were attending the scenes.

"All I can say is we're investigating. Everything is all very new at the moment," he said.