Mr. Eli Dusenbury reports

REFINED ENERGY CORP. RECEIVES FORMAL DRILL PROGRAM PROPOSAL FOR DUFFERIN PROJECT DRILL PROGRAM

Refined Energy Corp. has received a formal drill program proposal from Eagle Plains Resources Ltd. The program is driven by results from geophysical and technical work, paired with advanced interpretive analysis, to define the most promising targets. The phase 1 proposal includes ground-based gravity and electromagnetic surveys and three drill holes totalling approximately 1,200 metres, designed to test two distinct conductors on the Dufferin West property.

Drill targeting incorporates a comprehensive reinterpretation of airborne geophysical data and compilation of historical data, confirming the presence of key northeast-southwest-trending structures that correspond with known uranium-bearing systems across the region. The proposed gravity and electromagnetic surveys will refine target definition and guide additional targets for follow-up drilling. The initial budget is approximately $1.7-million, subject to adjustments based on timing, progress and continuing results. The program is structured to allow for expansion as drilling advances and new targets are generated. Additionally, the program will be eligible for the targeted mineral exploration incentive to receive up to $50,000 toward drilling-related program costs.

The Dufferin project consists of two properties, Dufferin North and Dufferin West, both of which are located approximately 18 kilometres from Cameco's Centennial deposit (historic drill hole VR-031W3 intersected 8.78 per cent triuranium octoxide over 33.9 metres). Refined and Eagle Plains have expanded the Dufferin project several times since project acquisition, and it now covers more than 14,800 hectares. The properties are prospective for unconformity- and basement-hosted uranium mineralization associated with northeast-southwest-trending faults. Mineralization in the district is typically localized along faulted basement contacts and brittle, reactivated structural zones, all of which are present within the Dufferin project area.

Mark Fields, chief executive officer of the company, stated: "We are pleased to receive the formal drill program proposal after a number of constructive discussions with Eagle Plains on the most effective program to test the promising conductors. Eagle Plains, together with Terralogic Exploration, which has been engaged to carry out the field operations, is now moving forward with securing contractors needed to initiate the drill program in the first quarter of 2026 and capitalize on optimal winter conditions."

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 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, 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.

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