Refined Energy Corp. Approves Dufferin Project Drill Program

Executive Summary

• Refined Energy Corp. received approval from Eagle Plains Resources Ltd. to commence a Phase I drill program on the Dufferin West property, with field work slated for Q1 2026.
• The initial program comprises ground‑based gravity and electromagnetic surveys plus three drill holes (~1,200 m total) targeting two conductors, with an estimated budget of ≈ $1.7 million.
• Refined has made the first payment to Eagle Plains and is securing contractors; the program may be expanded as results dictate.

Key Details

• Program Approval: Eagle Plains Resources Ltd. approved the proposed drill program; Refined Energy Corp. executed the initial payment.
• Scope – Phase I:
• Ground‑based gravity survey
• Electromagnetic (EM) survey
• Three drill holes totaling ~1,200 m to test two distinct conductors on the Dufferin West property.
• Budget: Approximate initial budget of $1.7 million, subject to adjustment based on timing, progress, and results.
• Timeline: Drilling planned for the first quarter of 2026 to take advantage of optimal winter conditions.
• Expansion Potential: Program structure allows for additional drilling and target generation as data from Phase I become available.
• Management Quote: CEO Mark Fields said the approved program positions Refined “to undertake the drill program in Q1 2026 and capitalize on optimal winter conditions,” highlighting it as a maiden drill effort for the company in the Athabasca Basin.
• Qualified Person: C. C. (Chuck) Downie, P.Geo., director of Eagle Plains, reviewed and approved the scientific and technical disclosure per NI 43‑101 standards.

Notable Quotes

“We are pleased that the initial program to drill test these distinct conductors has been confirmed. We are now well positioned to undertake the drill program in the first quarter of 2026 and capitalize on optimal winter conditions.” – Mark Fields, CEO