Refined Energy receives Dufferin drilling proposal

Executive Summary

• Refined Energy Corp. has received a formal drill program proposal from Eagle Plains Resources Ltd. for its Dufferin Project, specifically targeting the Dufferin West property.
• The Phase 1 program involves ground-based gravity and electromagnetic surveys followed by three drill holes totaling approximately 1,200 meters to test two distinct conductors.
• The initial budget for the program is approximately $1.7 million, with potential expansion as drilling advances, and the company is eligible for up to $50,000 in targeted mineral exploration incentives.

Key Details

• Proposal Source: Received from Eagle Plains Resources Ltd., with field operations to be carried out by Terralogic Exploration.
• Phase 1 Scope:
  • Ground-based gravity and electromagnetic surveys to refine target definition.
  • Three drill holes totaling approximately 1,200 metres.
  • Targets: Two distinct conductors on the Dufferin West property.
• Geological Context:
  • Reinterpretation of airborne geophysical data and historical data confirms northeast-southwest-trending structures corresponding with known uranium-bearing systems.
  • Project is prospective for unconformity- and basement-hosted uranium mineralization associated with northeast-southwest-trending faults.
• Financials:
  • Initial budget: Approximately $1.7 million (subject to adjustments based on timing, progress, and results).
  • Incentives: Eligible for up to $50,000 toward drilling-related program costs via the targeted mineral exploration incentive.
• Project Status & Location:
  • Dufferin Project consists of Dufferin North and Dufferin West properties.
  • Located approximately 18 kilometres from Cameco's Centennial deposit.
  • Total area: More than 14,800 hectares.
• Timeline:
  • Contractors to be secured to initiate the drill program in the first quarter of 2026.
  • Goal is to capitalize on optimal winter conditions.

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. Eagle Plains, together with Terralogic Exploration, which has been engaged to carry out the field operations, is now moving forward with securing contractors needed to initiate the drill program in the first quarter of 2026 and capitalize on optimal winter conditions." — Mark Fields, Chief Executive Officer