Mr. Eli Dusenbury of Refined Energy reports

REFINED ENERGY CORP. AND SEARCHLIGHT RESOURCES INC. SIGN AN AMENDMENT TO THE OPTION AGREEMENT FOR THE MILNER AND BASIN PROPERTIES

Refined Energy Corp. signed an amendment with Searchlight Resources Inc. on Sept. 5, 2025, to the option agreements dated Aug. 6, 2024, under which the company has the right to acquire up to an undivided 100-per-cent interest in and to the Milner and Basin properties.

The company and Searchlight agree to extend the due dates of the following:

1. The additional cash payments of $55,000 and $35,000, for the Basin and Milner properties, respectively, from Sept. 30, 2025, to Sept. 30, 2026;
2. The exploration expenditures of $200,000 and $150,000, for the Basin and Milner properties, respectively, from 24 months to 36 months, therefore Aug. 6, 2027.

The company shall issue 27,500 common shares in the capital of the company in consideration of the amended agreement. The shares shall be issued within 10 business days of receipt of the Canadian Securities Exchange approval of this amended agreement.

The issuance of shares to the Searchlight pursuant to the amended agreement is subject to approval by the CSE. All shares issued to Searchlight pursuant to the amended agreement will be subject to a statutory four-month hold period pursuant to applicable Canadian securities laws. In addition, the shares issuable pursuant to the amended agreement will be subject to a contractual resale restriction, during which time, subject to customary exception, such shares may not be traded without the prior approval of the company.

About Refined Energy Corp.

Refined Energy 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 2025. 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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