Refined Energy Successfully Intersects Targeted Unconformity in Maiden Drill Hole at Dufferin West; Advances Drilling on High-Priority EM Conductor

About this update from Refined Energy Corp

VANCOUVER, British Columbia, March 17, 2026 (GLOBE NEWSWIRE) -- Refined Energy Corp. (CSE: RUU; OTC: RRUUF; FRA: CWA0) (“Refined” or the “Company”) announces that the first drill hole of its maiden drill program has successfully reached target depth beyond the unconformity at the Dufferin West property, located in Saskatchewan’s prolific Athabasca Basin uranium district. Highlights Drill hole DW26-001 intersected the unconformity at a depth of 332 metres and was completed in basement rock at 432 metres. Core logging and sampling are underway, with samples to be submitted to an accredited laboratory for detailed analysis and assay results. MWH Geo-Surveys recently completed a ground gravity survey across the target area. A total of 817 unique stations in a 50m by 100m grid were surveyed covering approximately 530ha. Preliminary results have been incorporated into the targeting of the second drill hole and will be further utilized for targeting the planned third drill hole. The second drill hole, DW26-002, is now underway, located approximately 100 metres south of the first hole. The hole is designed to further evaluate the same electromagnetic (“EM”) conductor defined by previous airborne VTEM data and refined by a recently completed time-domain moving loop EM (TEM) ground geophysical program. The second hole is also designed to test the interpreted intersection of the EM conductor with a gravity low, believed to represent a cross-cutting N70 structural fault - a structural setting commonly associated with potential Athabasca Basin mineralization. Refined holds the exclusive option to acquire up to a 75% interest in the 10,140-hectare Dufferin Project, (see Refined’s news release of February 27, 2024 and August 6, 2025) from Eagle Plains Resources Ltd. (“Eagle Plains”) through a combination of cash payments, share issuances and exploration expenditures. The maiden drill program is designed to test multiple high-priority geophysical and structural targets and is planned to consist of a minimum of three drill holes totalling approximately 1,200 metres, with oriented core collection to provide critical geological and structural information. The initial budget is approximately $1.7 million. Mark Fields, Chief Executive Officer of the Company stated, “Completion of the first hole marks an important milestone in our inaugural drill program at Dufferin West....

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