Mr. Eli Dusenbury reports

REFINED ENERGY CORP. CLOSES PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$2M

Refined Energy Corp. has closed its previously announced non-brokered private placement financing for aggregate gross proceeds of $2-million.

Pursuant to the private placement, the company issued 10 million units of the company at a price of 20 cents per unit. Each unit consists of one common share in the capital of the company and one share purchase warrant, with each warrant entitling the holder thereof to purchase an additional share at an exercise price of 25 cents until Nov. 7, 2027, provided that the warrants are subject to a hold period expiring on Jan. 6, 2026, during which time they may not be exercised.

The net proceeds of the private placement are intended to be used for exploration and evaluation expenditures at the company's Dufferin project (and to make the necessary payments to maintain the company's interest in the Dufferin project in good standing) and for general working capital purposes.

The units issued pursuant to the private placement were offered for sale to purchasers resident in all of the provinces of Canada (except Quebec) pursuant to the listed issuer financing exemption under Part 5A.2 of National Instrument 45-106, Prospectus Exemptions, as modified by the Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. Because the private placement was completed pursuant to the LIFE, the securities issued to Canadian resident subscribers in the private placement are not subject to certain resale restrictions under applicable Canadian securities laws (aside from the hold period).

There is an offering document dated Oct. 27, 2025, related to the private placement that can be accessed under the company's profile on SEDAR+ and on the company's website. This offering document contains additional detail regarding the private placement, including additional detail regarding the expected use of proceeds from the private placement.

About Refined Energy Corp.

Refined is a junior mining company dedicated to identifying, evaluating and acquiring interests in mineral properties in North America. The Dufferin project in the Athabasca basin is the flagship project of Refined and a drill program is planned for 2026. Refined also has an option to earn up to a 100-per-cent interest in the Basin and Milner uranium properties in Saskatchewan. The company continues to review other mineral properties in North America for possible acquisition in the future.

We seek Safe Harbor.