Refined mobilizes ground geophysical crew at Dufferin

Executive Summary

• Refined Energy Corp. has mobilized its ground geophysical team at Dufferin Lake Lodge to advance its Dufferin West exploration program, with drilling scheduled to commence later in February.
• The company has terminated its option on the Basin property to focus resources on the Dufferin project and the upcoming drill program.
• The Dufferin West program aims to test two distinct conductors for uranium mineralization, utilizing time-domain EM and ground gravity surveys to refine drill targeting.

Key Details

• Geophysical Work: A time-domain EM (TEM) ground geophysical program is currently underway to prioritize additional drill targeting. Data will be used to generate detailed inversions and 3D Maxwell plates to refine drill hole targeting.
• Drilling Plan: Drilling is planned to begin later in February. The program includes a minimum of three drill holes totaling approximately 1,200 metres, designed to test two distinct conductors on the Dufferin West property.
• Budget: The initial budget for the program is approximately $1.7 million.
• Geological Context: The program targets unconformity- and basement-hosted uranium mineralization. Work has confirmed key northeast-southwest-trending structures corresponding with known uranium-bearing systems in the Athabasca basin.
• Proximity to Major Deposits: Dufferin West is located approximately 18 km from Cameco's Centennial deposit. Historical data from nearby hole VR-031W3 intersected 8.78% U3O8 over 33.9 metres.
• Option Termination: The company announced the termination of the option on the Basin property to concentrate on the Dufferin project.
• Option Rights: Refined Energy retains the right to acquire up to a 75% interest in the Dufferin project from Eagle Plains Resources Ltd. through cash payments, share issuances, and financing exploration expenditures.

Notable Quotes

• "This is an exciting period for Refined Energy. The Athabasca basin region is renowned for its history of exploration, discovery and development of high-value uranium mines. With the drill arriving shortly, we will see the culmination of significant work to generate the prospective drill targets to test for high-grade deposits that characterize the Athabasca basin." — Mark Fields, Chief Executive Officer