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

Refined Energy Corp.
Refined Energy Corp.

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Dufferin Project increased to over 7,300 hectares

VANCOUVER, British Columbia, May 16, 2024 (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 879 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 7,303 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) from Eagle Plains Resources Ltd. (“Eagle Plains”) through a series of cash payments and share issuances and fund 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).As a result of continued data review, further confirming the prospectivity of the area, Refined and Eagle Plains have expanded the Dufferin North property. 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 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.”

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.

About Refined Energy Corp.

Refined Energy Corp. is a junior mining company dedicated to identifying, evaluating and acquiring interests in mineral properties in North America. In addition to the Dufferin Project, Refined is also exploring a lithium property, the Simard Property, located in the Lac Simard region of Quebec. The Company is also party to an option agreement in respect of the Horizon South Property, a prospective, exploration-stage lithium property located in Tonopah Nevada. The Company continues to review other mineral properties in North America for possible acquisition in the future.