Refined Energy Corp. Receives Formal Drill Program Proposal for Dufferin Project Drill Program

Executive Summary

• Refined Energy Corp. received a formal Phase I drill program proposal from Eagle Plains Resources Ltd. for the Dufferin West property.
• The proposed work includes ground‑based gravity and electromagnetic surveys plus three drill holes (~1,200 m total) to test two conductors, with an initial budget of approximately $1.7 million.
• The program is eligible for up to $50,000 in Targeted Mineral Exploration Incentive funding and is slated to commence in Q1 2026, subject to contractor availability and winter conditions.

Key Details

• Program Scope: Ground‑based gravity & EM surveys; 3 drill holes totaling ~1,200 m targeting two distinct conductors on the Dufferin West property.
• Budget: Approximately $1.7 million (subject to adjustment based on timing, progress, and results).
• Incentive Funding: Up to $50,000 from the Targeted Mineral Exploration Incentive may be applied toward drilling‑related costs.
• Project Size & Location: Dufferin Project now covers >14,800 ha across Dufferin North and West, ~18 km from Cameco’s Centennial Deposit (historic hole VR‑031W3 intersected 8.78% U₃O₈ over 33.9 m).
• Geological Rationale: Reinterpretation of airborne geophysics identifies NE‑SW trending structures consistent with regional uranium‑bearing systems; targets are unconformity‑ and basement‑hosted mineralization zones.
• Timeline: Field operations to be secured by Eagle Plains and TerraLogic Exploration, with drilling intended to start in Q1 2026 to take advantage of optimal winter conditions.
• Qualified Person: C. C. (Chuck) Downie, P.Geo., director of Eagle Plains, has reviewed and approved the scientific and technical disclosure per NI 43‑101.

Notable Quotes

“We are pleased to receive the formal drill program proposal after a number of constructive discussions with Eagle Plains on the most effective program to test the promising conductors.” – Mark Fields, Chief Executive Officer, Refined Energy Corp.