Eagle Plains partner completes drilling at Dufferin

Executive Summary

• Refined Energy Corp. completed a 975-meter diamond drill program at Eagle Plains Resources Ltd.'s 100%-owned Dufferin West property in Saskatchewan, targeting high-priority geophysical and structural anomalies for uranium mineralization.
• The program successfully intersected a graphitic conductor and brecciated fault zones, with specific focus on testing gravity lows and magnetic features interpreted to represent Archean granite-gneiss basement rocks.
• Core logging and sampling are complete, with samples submitted for geochemical analysis to help determine vectors toward uranium mineralization and guide future exploration steps.

Key Details

• Drill Program Scope: Total of 975 metres drilled; completed on budget for approximately $1.7-million.
• Drill Hole DW26-001:
  • Intersected the targeted graphitic conductor at 381 metres.
  • Identified associated brecciation at an unconformity depth of 332 metres.
  • Targeted an electromagnetic (EM) conductor defined by a moving loop EM survey.
• Drill Hole DW26-003:
  • Reached the unconformity at 312 metres.
  • Intersected two brecciated fault zones:
    • One in sandstone at 104 to 120 metres with associated bleaching.
    • One in the basement from 323.7 to 327.1 metres with brecciation and clay gouges.
  • Tested a significant ground gravity low complemented by a partially overlapping magnetic low, bounded to the east by a magnetic high.
  • Targeted the central portion of a pronounced gravity low coincident with a magnetic low, interpreted as Archean granite-gneiss basement rocks.
• Operational Changes: Refined Energy elected to advance DW26-003 in place of the originally planned DW26-002 to maximize coverage of priority gravity geophysical targets. DW26-002 was terminated early based on geological observations from DW26-001 to stay within budget.
• Geological Context:
  • The Dufferin project is located on or near the Virgin River shear zone, a key structure for potential uranium mineralization.
  • Prospective for unconformity- and basement-hosted uranium mineralization.
  • Faulted basement contacts and brittlely reactivated structures are primary locations for mineralization.
  • Prior exploration shows high concentration of secondary uranium-bearing minerals, suggesting remobilization may play a role.
  • Geophysical EM and magnetic anomalies are supported by previous uranium and boron soil and lake sediment anomalies along inferred fault zones.
• Next Steps: Detailed sampling for geochemical analysis is complete. Results will be integrated into the geological model to identify vectors toward uranium mineralization.
• Qualified Person: C.C. Downie, PGeo, Director and Officer of Eagle Plains.

Notable Quotes

• "A number of priority drill targets, including the strike extension of the conductor intersected in DW26-001, remain untested on both the Dufferin West and Dufferin North properties. The results from the geochemical analyses will be integrated into our geological model to help determine whether vectors toward uranium mineralization are present and guide next steps at Dufferin West. I would like to commend the Terralogic crew for completing the program under extremely challenging weather conditions." — Chuck Downie, President and CEO of Eagle Plains