Refined Energy plans drilling in Q1 2026

Mr. Mark Fields reports REFINED ENERGY CORP. PROVIDES CORPORATE UPDATE AND Q1 2026 EXPLORATION PLANS Refined Energy Corp. has provided a corporate update on its exploration strategy and development plans across its portfolio of uranium and energy metal projects in Northern Saskatchewan. The company's focus remains on advancing its Dufferin project. The company is also considering next steps for its Milner and Basin properties, together with the Dufferin project, which are all located within or adjacent to the prolific Athabasca basin region -- one of the world's highest-grade uranium jurisdictions. Following the completion of its $2-million equity financing on Nov. 7, 2025, Refined has furthered its detailed plans for a phase 1 diamond drilling program in first quarter 2026. The drill program will target priority zones identified through previous geophysical and geochemical work programs and recent detailed interpretive work including inversion modelling. Flagship Dufferin project -- high-quality targets and proven structures The Dufferin project remains Refined's cornerstone asset, strategically positioned in a structurally favourable corridor hosting multiple radiometric and conductive anomalies. Historical work and newly completed geophysical interpretive work have delineated three high-priority target zones characterized by: Strong structural intersections observed in magnetic and electromagnetic data sets, interpreted as potential fluid pathways associated with uranium mineralization; Favourable basement lithologies, including graphitic pelitic gneiss and fault-controlled alteration halos; Surface geochemical anomalies indicating elevated uranium and pathfinder elements consistent with Athabasca-style mineralization systems. In 2024, Refined completed a comprehensive reinterpretation of airborne geophysical data and field reconnaissance, confirming the presence of key northeast-southwest-trending structures that correspond with known uranium-bearing systems across the region. The coming first quarter 2026 drill program will test these targets with approximately 1,250 to 2,000 metres of diamond drilling in the initial phase. Milner and Basin projects The company's Milner project hosts promising structural trends and geological contacts consistent with mineralized corridors elsewhere in the Athabasca region. Next steps for this project would be to perform high-resolution radiometrics, ground-based EM surveys and surface outcrop sampling to refine possible drill targets and enhance structural understanding. The Basin project complements Refined's Saskatchewan portfolio with a land position strategically situated near existing uranium discoveries. Early reconnaissance has revealed anomalous radioactivity zones and interpreted fault splays that warrant detailed follow-up. First quarter 2026 exploration strategy Refined is preparing to launch its phase 1 Dufferin drilling program in Q1 2026, following completion of its $2-million financing. The company has engaged consultants to initiate logistics planning and receive contractor proposals, with a focus on cost-effective mobilization and high-impact target testing. "Our work over the past 12 months has built a strong technical foundation that positions Refined for key exploration advancements early in the new year," said Mark Fields, chief executive officer of Refined. "The targets we've defined at Dufferin represent the right combination of structure, alteration and geophysical response that we look for in early-stage opportunities. We have now closed this critical financing round revealing supportive market conditions that will be the foundation of next steps for the company." Qualified person C.C. (Chuck) Downie, PGeo, a qualified person for the purposes of National Instrument 43-101 (Standards of Disclosure for Mineral Projects), a director of Eagle Plains, has reviewed and approved the scientific and technical disclosure with respect to the Dufferin project in this news release. Stephen Wallace, PGeo, a qualified person for the purposes of National Instrument 43-101 (Standards of Disclosure for Mineral Projects), a director of Searchlight, has reviewed and approved the scientific and technical disclosure with respect to the Milner and Basin projects in this news release. About Refined Energy Corp. Refined is a Canadian exploration company focused on the discovery and advancement of uranium and critical energy metal projects within Tier 1 jurisdictions. With its Dufferin, Milner and Basin projects located in Saskatchewan's Athabasca basin region, the company is advancing a diversified pipeline of assets supporting the clean energy transition. We seek Safe Harbor.