Refined Energy Corp. and Eagle Plains Resources Ltd. Increase Dufferin Project Size in the Athabasca Basin

Rhea-AI Summary

Refined Energy Corp (RRUUF) expanded its Dufferin Project in the Athabasca Basin to 14,800 hectares after acquiring 529 hectares at Dufferin West and 1,470 hectares at Dufferin North on Nov 27, 2025. The company holds an option to acquire up to a 75% interest from Eagle Plains via cash, shares and funding exploration. The project lies ~18 km from Cameco’s Centennial deposit and targets unconformity- and basement-hosted uranium near NE-SW faults. Management said a drill program is planned for Q1 2026. A cited historic hole 8.78% U3O8 over 33.9 m) is noted but not independently verified by the company.

Positive

• Project area expanded to 14,800 hectares
• Option to acquire up to 75% interest from Eagle Plains
• Drill program planned for Q1 2026
• Located ~18 km from Cameco’s Centennial deposit

Negative

• No current NI 43-101 mineral resource disclosed
• Historic hole (8.78% U3O8 over 33.9 m) is not verified by the company
• Exploration results and resource economics remain uncertain until drilling

Key Figures

Dufferin West expansion: 529 hectares Dufferin North expansion: 1,470 hectares Total project size: 14,800 hectares +5 more

8 metrics

Dufferin West expansion 529 hectares Additional ground acquired for Dufferin West property

Dufferin North expansion 1,470 hectares Additional ground acquired for Dufferin North property

Total project size 14,800 hectares Current total area of the Dufferin Project

Optioned interest 75% Maximum interest Refined may earn in Dufferin Project

Distance to Centennial 18 km Approximate distance from Dufferin to Cameco’s Centennial deposit

Grade at VR-031W3 8.78% U3O8 Historic intercept at Cameco’s Centennial deposit (nearby reference)

Mineralized interval 33.9 m Length of historic VR-031W3 uranium intercept cited as reference

Planned drill timing Q1 2026 Timing for planned drill program at Dufferin Project

Market Reality Check

Price: $0.5400 Vol: Volume 12,726 is 0.78x th...

normal vol

$0.5400 Last Close

Volume Volume 12,726 is 0.78x the 20-day average of 16,223, not indicating heavy trading. normal

Technical Price at 0.3217 is trading above the 200-day MA of 0.20, reflecting a prior upward trend.

Peers on Argus

While RRUUF rose 15.51%, key peers like GURFF and ORESF declined 3.01% and 12% r...

While RRUUF rose 15.51%, key peers like GURFF and ORESF declined 3.01% and 12% respectively, with others flat, suggesting a stock-specific reaction rather than a sector-wide move.

Historical Context

4 past events · Latest: Dec 08 (Positive)

Pattern 4 events

Date	Event	Sentiment	Move	Catalyst
Dec 08	Drill program proposal	Positive	-3.7%	Formal Phase I 1,200 m drill proposal and budget for Q1 2026.
Dec 02	Board & option update	Positive	-18.9%	Veteran uranium explorer added to board and Simard option amended.
Nov 10	Corporate update	Positive	+11.4%	Corporate update with $2M financing and Q1 2026 drill plans.
Jun 30	Technical report filing	Positive	+0.0%	NI 43-101 report filed recommending 1,250 m drill program at Dufferin.

Pattern Detected

Recent news on exploration and corporate developments has often seen mixed or negative short-term price reactions, even on seemingly constructive updates.

Recent Company History

This announcement expands the Dufferin Project to 14,800 hectares, reinforcing Refined Energy’s focus on Athabasca Basin uranium exploration. Earlier in 2025, the company filed a NI 43-101 report recommending a minimum four-hole, 1,250 metre drill program and later outlined Q1 2026 drilling plans following a $2 million equity financing. A recent formal drill proposal detailed an initial 1,200 metre program. Despite these steps, prior Dufferin-related news sometimes coincided with flat or negative price moves, contrasting with today’s stronger gain.

Market Pulse Summary

This announcement expands the Dufferin uranium project to 14,800 hectares in the Athabasca Basin and...

Analysis

This announcement expands the Dufferin uranium project to 14,800 hectares in the Athabasca Basin and confirms plans for a Q1 2026 drill program. It builds on earlier technical work and option terms granting up to a 75% interest in the project. Investors may focus on forthcoming drill details, target selection near key structures, and subsequent technical results to gauge how this larger land position could translate into future resource potential.

Key Terms

athabasca basin, unconformity-hosted, basement-hosted, national instrument 43-101, +3 more

7 terms

athabasca basin technical

"a prospective uranium property located in the Athabasca Basin, Saskatchewan, Canada."

A geological region in northern Saskatchewan, Canada, known for some of the richest uranium deposits in the world. For investors, it matters because projects and mines there drive uranium supply, exploration activity, and related mining investment — like a neighborhood where most of an industry’s factories are located, concentrating both opportunity and regulatory, infrastructure, and permitting risks that affect company value.

unconformity-hosted technical

"prospective for unconformity- and basement-hosted uranium mineralization"

Unconformity-hosted describes mineral deposits that sit along an unconformity, which is a break or boundary between two rock layers of very different ages where older rock was eroded before newer rock was laid down. These boundaries can act like natural traps or channels for mineral-bearing fluids, concentrating valuable metals. Investors care because unconformity-hosted deposits are often large and high-grade, affecting a mine’s potential size, cost of extraction, and investment value.

basement-hosted technical

"prospective for unconformity- and basement-hosted uranium mineralization"

A basement-hosted deposit is a mineral occurrence located in the older, hard bedrock (the geological “basement”) beneath younger surface layers. For investors, this matters because such deposits often require deeper, more targeted drilling and specialized methods to find and extract, which raises exploration cost and risk but can also uncover concentrated, high-value resources—think of searching for a safe hidden in a building’s foundation rather than a box on the floor.

national instrument 43-101 regulatory

"for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects"

National Instrument 43-101 is a set of rules and guidelines that govern how mineral exploration and mining companies must report information about their projects. It ensures that the details shared with investors are accurate, consistent, and reliable—similar to how a detailed, verified blueprint ensures a building’s safety. This helps investors make informed decisions based on trustworthy information about a company's mineral resources.

qualified person regulatory

"a “qualified person” for the purposes of National Instrument 43-101"

A qualified person is someone with specialized knowledge, experience, and training in a particular field, allowing them to accurately assess and verify information or work. Their expertise helps ensure that reports, evaluations, or decisions are trustworthy and meet required standards. For investors, a qualified person provides confidence that the information they rely on is credible and properly validated.

uranium mineralization technical

"primary locations for mineralization in the area covered by the Dufferin Project."

Uranium mineralization is the occurrence and concentration of uranium-bearing minerals in rock, soil or sediment that indicate where commercially recoverable uranium might be found. For investors, it signals the potential size and quality of a mining target — like finding a concentrated pocket of salt in the ocean versus just a trace — and influences a project’s valuation, development costs, permitting challenges, and long-term revenue potential tied to nuclear fuel demand.

drill program technical

"A drill program is currently being planned for Q1 2026."

A drill program is a planned sequence of boreholes a company drills to find, confirm or map underground resources such as minerals, oil or gas. Think of it like digging a set of test pits on a grid to see what’s below the surface: the number, depth and location of holes are chosen to answer specific questions about size, grade and continuity of the deposit. Investors care because drill results directly affect estimates of a project’s value, future costs and the likelihood of commercial development.

AI-generated analysis. Not financial advice.

Dufferin Project increased to over 14,800 hectares

VANCOUVER, British Columbia, Nov. 27, 2025 (GLOBE NEWSWIRE) -- Refined Energy Corp. (CSE: RUU; OTC: RFMCF; FRA: CWA0) (“Refined” or the “Company”) is pleased to announce that it has acquired a further 529 hectares for the Dufferin West property and a further 1,470 hectares for the Dufferin North property in the Dufferin Project (“Dufferin Project”), a prospective uranium property located in the Athabasca Basin, Saskatchewan, Canada. The Dufferin Project now comprises a total of 14,800 hectares. Refined has the right, at its option, to acquire up to a 75% interest in the Dufferin Project (see Refined’s news release of February 27, 2024 and August 6, 2025) from Eagle Plains Resources Ltd. (“Eagle Plains”) through a series of cash payments, share issuances and funding exploration expenditures on the Dufferin Project.

The Dufferin Project consists of two properties, Dufferin North and Dufferin West, both of which are located approximately 18km from Cameco’s Centennial Deposit (historic drill hole VR-031W3 intersected 8.78% U308 over 33.9m).¹   As a result of continued data review, further confirming the prospectivity of the area, Refined and Eagle Plains have expanded the Dufferin Project. The properties are prospective for unconformity- and basement-hosted uranium mineralization in proximity to NE-SW trending faults. Faulted basement contacts and brittlely reactivated structures are the primary locations for mineralization in the area covered by the Dufferin Project.

Mark Fields, Chief Executive Officer of the Company stated, “We are excited to further increase the size of the Dufferin Project. It speaks to our belief that, having established a position in the Athabasca Basin region, which is renowned for its history of exploration, discovery, and development of high value uranium mines, that we intend to advance our interest there and embark upon exploration programs to test for high grade deposits that characterize the Athabasca Basin. A drill program is currently being planned for Q1 2026. We expect details to be announced shortly.”

Qualified Persons

C. C. (Chuck) Downie, P.Geo., 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.

______________________________

¹ This result was taken from Saskatchewan Industry and Resources Assessment Work File: 74G12-0061, Cameco Corp., 2009, DDH VR-031W3. The Company has not had a qualified person verify this information, and this information is not necessarily indicative of the mineralization (if any) present at the Dufferin Project.

About Refined Energy Corp.

Refined Energy Corp. is a Canadian exploration company focused on the discovery and advancement of uranium and critical energy metal projects within tier-one 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.

For further information, please contact:

Eli Dusenbury
Chief Financial Officer
+1 (604) 398-3378
info@refinedenergy.com

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events.

In particular this press release contains statements including the planned Q1 2026 drill program, the engagement of consultants, exploration objectives, technical interpretations, and the potential of the Dufferin, Milner, and Basin Projects. Forward-looking information is based on assumptions management believes are reasonable at the time of writing, including successful completion of the financing, availability of equipment and contractors, and regulatory approvals.

Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include: the risk that the Company does not use the proceeds from the Private Placement as currently expected; risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined and the risk that exploration and development activities will cost more than the amount budgeted for such activities by the Company; risks relating to changes in mineral prices and the worldwide demand for and supply of minerals; risks related to increased competition and current global financial conditions; access and supply risks; risks associated with the Company’s reliance on key personnel; operational risks; regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; financing, capitalization and liquidity risks; title and environmental risks; and risks relating to the failure to receive all requisite regulatory approvals. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

FAQ

What did Refined Energy (RRUUF) announce about the Dufferin Project on Nov 27, 2025?

Refined announced expansion of the Dufferin Project to 14,800 hectares after adding 529 ha at Dufferin West and 1,470 ha at Dufferin North.

How much of the Dufferin Project can Refined Energy (RRUUF) acquire from Eagle Plains?

Refined has the right to acquire up to a 75% interest through cash payments, share issuances and funding exploration.

When is Refined Energy (RRUUF) planning to drill the Dufferin Project?

Management said a drill program is planned for Q1 2026, with details to be announced.

How close is the Dufferin Project (RRUUF) to known uranium deposits?

The Dufferin Project is approximately 18 km from Cameco’s Centennial deposit.

Does Refined Energy (RRUUF) report a mineral resource at Dufferin after the expansion?

No; the company did not disclose any NI 43-101 mineral resource for the Dufferin Project.