Mr. Eli Dusenbury reports

REFINED ENERGY CORP. ADDS KEN WHEATLEY TO BOARD OF DIRECTORS AND AMENDS SIMARD PROPERTY OPTION AGREEMENT

Refined Energy Corp. has appointed veteran uranium explorer Ken Wheatley to its board of directors.

Mr. Wheatley is a professional geoscientist registered with the Association of Professional Engineers and Geoscientists of Saskatchewan and brings more than 44 years of uranium exploration expertise across Canada's premier mining jurisdictions. Since beginning his career in 1980, he has played increasingly key roles in the discovery of multiple notable deposits, including:

• Cluff Lake: Dominique and South Dominique Janine (Amok Ltd.);
• McClean Lake: Sue C, D and E deposits (Minatco);
• Key Lake: BV and P-Patch occurrences (Uranerz Exploration and Mining Ltd.);
• Midwest A (Orano), where he led the exploration team responsible for its discovery and delineation.

Most recently, as vice-president of exploration for Forum Energy Metals Corp., Mr. Wheatley discovered the Opie, Barney and Otis West uranium showings at northwest Athabasca. His extensive career also includes uranium exploration in Nunavut around the Kiggavik deposits, as well as copper exploration at Janice Lake and nickel-platinum-palladium exploration at Love Lake. He holds an HBSc from Laurentian University (1980) and an MSc from the University of Saskatchewan (1985).

"I am excited to join Refined," said Mr. Wheatley. "The company has assembled an interesting land package in Saskatchewan, and I look forward to contributing to its efforts as it advances exploration for new uranium discoveries."

"Ken has already delivered tremendous insight on our Dufferin project," added Mark Field. "Bringing him onto the board is a natural next step, and his depth of knowledge in Saskatchewan's uranium districts will be a major catalyst for the company's momentum moving forward."

The company also announces that it has entered into a fourth property option amendment agreement with Geomap Exploration Inc. dated Oct. 10, 2025 (the fourth amending agreement), amending the mineral property option agreement dated Dec. 20, 2022, as previously amended Nov. 14, 2023, Feb. 28, 2024, and April 24, 2025, pursuant to which Geomap had granted the company the exclusive right and option to acquire up to a 100-per-cent) interest in and to 96 mining claims covering approximately 5,571 hectares of land, located in the Lac Simard region of Quebec.

Pursuant to the fourth amending agreement, the company and Geomap have further deferred certain of the company's payment, common share issuance and exploration expenditure obligations, and reduced the number of mining claims from 96 to 61, covering approximately 3,539 hectares of land thereunder.

As consideration for the fourth amending agreement, the company has agreed to issue 50,000 shares to Geomap, upon receipt of the approval of the Canadian Securities Exchange (the CSE).

All shares to be issued to Geomap pursuant to the fourth amending agreement, including the fourth amendment consideration shares, are subject to approval by the CSE and will be subject to a statutory four-month hold period in accordance with applicable Canadian securities legislation.

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.

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