Refined Energy Corp. Clarifies Certain Promotional Disclosure

On June 1, 2026, Refined Energy Corp. issued a retraction of all non-compliant technical and future‑value statements contained in promotional materials distributed by third‑party marketing firms (Rumble Strip Media and RMK Marketing). The retraction follows a review by the British Columbia Securities Commission. The company confirms that it does not possess sufficient technical data to substantiate the earlier speculative uranium resource estimates, resource quantities, or recoverable‑resource projections. All associated promotional activities have been discontinued, the offending materials removed, and enhanced disclosure controls implemented. Refined explicitly cautions investors not to rely on those materials and to consult only its continuous disclosure record on SEDAR+.

This disclosure is a textbook credibility implosion. The very promotional content that helped propel the stock from $0.20 to a high of $1.10 in January 2026 is now admitted to be unsupported by actual geological work. For a junior exploration company, the market’s willingness to fund future work hangs on the integrity of its technical narrative. A forced retraction — particularly one that acknowledges the absence of data to back prior resource claims — destroys that narrative overnight. The stock had already fallen 70 % from its peak, but this news adds a stench of regulatory risk and potential investor lawsuits. It will materially impair the company’s ability to raise equity capital on reasonable terms, a life‑or‑death matter given the going‑concern warning already present in the latest financials. The impact is unequivocally material and negative.

Refined Energy Corp. is a Canadian junior explorer focused on uranium in the Athabasca Basin, Saskatchewan. Its flagship is the Dufferin Project, a 14,800‑hectare land package comprising Dufferin West and Dufferin North, located roughly 18 km from Cameco’s Centennial Deposit. The company holds an exclusive option to earn up to a 75 % interest from Eagle Plains Resources Ltd. (the operator) through cash payments, share issuances, and exploration spending. A maiden 975‑metre drill program was completed at Dufferin West in Q1 2026; preliminary results intersected the unconformity but returned only modest uranium and pathfinder element values per the most recent MD&A. Non‑core Basin and Milner properties have been allowed to lapse to conserve cash.