Dufferin West Drilling Commences Maiden Drill Program at High-Priority Dufferin West Uranium Target

Executive Summary

• Refined Energy Corp. has begun drilling the first hole of its maiden drill program at the Dufferin West property in Saskatchewan’s Athabasca Basin.
• The initial phase will consist of at least three holes totaling ~1,200 m with an estimated budget of $1.7 million, targeting a promising EM conductor identified by recent VTEM and TEM surveys.
• The company holds an exclusive option to acquire up to 75 % of the 10,140‑ha Dufferin Project from Eagle Plains Resources Ltd., combining cash payments, share issuances and exploration expenditures.

Key Details

• Project Overview: Dufferin West is part of the larger Dufferin Project (North + West properties) adjacent to NexGen Energy’s SW3 Property and ~18 km from Cameco’s Centennial Deposit (historic hole VR‑031W3 intersected 8.78 % U₃O₈ over 33.9 m).
• Drill Program: Minimum of 3 drill holes, total depth ≈1,200 m; oriented core collection for geological and structural analysis.
• Target: Electromagnetic conductor identified by airborne VTEM data and refined by a recent time‑domain moving loop EM (TEM) ground survey.
• Budget: Approximately $1.7 million allocated to the initial drilling phase.
• Additional Work: Parallel ground gravity survey planned to further prioritize drill targets.
• Option Terms: Refined holds an exclusive option for up to 75 % interest in the Dufferin Project, payable via cash, share issuances and exploration spend (refer to prior releases Feb 27 2024 & Aug 6 2025).
• Geological Context: NE‑SW trending structural corridors consistent with known Athabasca Basin uranium systems; prospective for both unconformity‑ and basement‑hosted mineralization near faulted basement contacts.
• CEO Quote: “Commencing drilling at Dufferin West marks a major milestone… we believe Refined is well positioned to participate in the next cycle of uranium exploration and discovery.” – Mark Fields, CEO

Notable Quotes

“Commencing drilling at Dufferin West marks a major milestone for Refined Energy. This program is the culmination of extensive geophysical and technical work that has identified prospective targets in one of the world’s most prolific uranium districts.” – Mark Fields, Chief Executive Officer

Materiality Assessment: Material – Positive (the commencement of drilling on a newly optioned, high‑potential uranium project represents a material development likely to influence investor perception and valuation.)