Mr. Mark Fields reports

DUFFERIN WEST DRILLING COMMENCES MAIDEN DRILL PROGRAM AT HIGH-PRIORITY DUFFERIN WEST URANIUM TARGET

Drilling has commenced on the first hole of Refined Energy Corp.'s maiden drill program at the Dufferin West property, located in Saskatchewan's world-renowned Athabasca basin uranium district.

Refined holds the exclusive option to acquire up to a 75-per-cent interest in the 10,140-hectare (ha) Dufferin project (see Refined's news releases of Feb. 27, 2024, and Aug. 6, 2025) from Eagle Plains Resources Ltd. through a combination of cash payments, share issuances and exploration expenditures. The Dufferin project, which is made up of the North and West Dufferin properties, is located adjacent to NexGen Energy's SW3 property and approximately 18 kilometres (km) from Cameco's Centennial deposit, where historic drill hole VR-031W3 intersected 8.78 per cent U308 over 33.9 metres (m) (SMAF 74G12-0061).

The drill program is targeting a promising electromagnetic (EM) conductor defined by previous airborne VTEM (versatile time-domain electromagnetic) data and refined by a recently completed time-domain moving loop EM (TEM) ground geophysical program. The initial program will consist of a minimum of three drill holes totalling approximately 1,200 metres, with oriented core collection to provide critical geological and structural information. The initial budget is approximately $1.7-million. In parallel, Refined will conduct a ground gravity survey to further refine and prioritize additional drill targets.

Dufferin West represents a technically promising exploration opportunity, driven by integrated geophysical, geological and structural interpretations. Work to date has confirmed key northeast-southwest-trending structural corridors consistent with known uranium mineralization systems across the Athabasca basin. The Dufferin project is considered prospective for both unconformity- and basement-hosted uranium mineralization in proximity to northeast-southwest-trending faults. Faulted basement contacts with ductile/brittle deformation near the unconformity contact are the primary locations for high-grade Athabasca uranium deposits.

Mark Fields, chief executive officer of the company, stated: "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. With uranium prices strengthening and global demand for nuclear power accelerating, we believe Refined is well positioned to participate in the next cycle of uranium exploration and discovery in the Athabasca basin."

Qualified persons

C.C. (Chuck) Downie, PGeo, a qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects, and a director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release.

About Refined Energy Corp.

Refined Energy 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 project located in Saskatchewan's Athabasca basin region, the company is advancing assets supporting the clean energy transition.

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