Refined Energy signs contracts for Dufferin W drilling

Executive Summary

• Refined Energy Corp. has signed key contracts for its Dufferin West drill program, scheduled to commence in February 2026.
• The company secured a grant of up to $50,000 under the Saskatchewan targeted mineral exploration incentive program for the project.
• The Phase I drill program involves three holes totaling approximately 1,200 meters to test two distinct conductors, with an initial budget of $1.7 million.

Key Details

• Contracting Status: Contracts have been signed for the drill company, gravity survey, helicopter and fixed-wing logistics, fuel, and accommodation.
• Grant Funding: Approved for a grant of up to $50,000 under the Saskatchewan targeted mineral exploration incentive program.
• Drill Program Scope (Phase I):
  • Includes ground-based gravity and electromagnetic surveys.
  • Consists of three drill holes.
  • Total planned depth: Approximately 1,200 metres.
  • Objective: Test two distinct conductors on the Dufferin West property.
• Budget: Initial budget is approximately $1.7 million, subject to adjustments based on timing, progress, and continuing results.
• Program Structure: The program is designed to allow for expansion as drilling advances and new targets are generated.
• Earning Interest: Refined Energy has the option to earn up to a 75% interest in the Dufferin West property from Eagle Plains Resources Ltd.
• Timeline: The program is structured to begin in the first quarter of 2026 to capitalize on optimal winter conditions.

Notable Quotes

• "Securing the right contractors is a crucial component to undertake an efficient drill program. We are pleased that the key contracts are already in place for the upcoming drill program to allow for effective planning and execution. We are well positioned to undertake the drill program in the first quarter of 2026 and capitalize on optimal winter conditions. It is exciting to be proceeding with a maiden drill program for Refined in the prolific Athabasca basin." — Mark Fields, Chief Executive Officer