Dufferin West Exploration Program Advances as Geophysical Team Mobilizes
MWN-AI** Summary
Refined Energy Corp. (CSE: RUU; OTC: RRUUF; FRA: CWA0) has announced significant advancements in its Dufferin West exploration program as the geophysical team mobilizes at the Dufferin Lake Lodge, with drilling set to begin later in February 2026. The program aims to acquire up to a 75% interest in the Dufferin Project from Eagle Plains Resources Ltd. This acquisition involves a series of cash payments and equity issuances, alongside funding of exploration expenditures.
Currently underway is a time-domain electromagnetics (TEM) geophysical program to prioritize drilling targets. Preliminary data will support further analysis and the development of three-dimensional models to refine drill hole targeting. The upcoming drilling program will seek to test two distinct conductors on the property over a minimum of 1200 meters, with a budget of approximately $1.7 million dedicated to these endeavors. Additionally, a ground gravity geophysical program will accompany the drilling initiative to enhance target definition.
The Dufferin West program is underpinned by encouraging geophysical findings, demonstrating the presence of NE-SW trending structures akin to known uranium-bearing systems in the region. Located just 18 km from Cameco’s Centennial Deposit, the Dufferin West area is prospective for both unconformity- and basement-hosted uranium mineralization.
CEO Mark Fields expressed enthusiasm for this period, highlighting the Athabasca Basin's rich history in high-value uranium discoveries. The company has also opted to terminate its option on the Basin Property to focus solely on the Dufferin Project, signaling a concentrated strategy to capitalize on these promising developments. C. C. (Chuck) Downie, a qualified person, has reviewed the technical aspects of this announcement.
MWN-AI** Analysis
As Refined Energy Corp. (CSE: RUU; OTC: RRUUF; FRA: CWA0) advances its Dufferin West Exploration Program, the mobilization of the ground geophysical team signifies a pivotal moment for the company and its stakeholders. With drilling slated to commence later this month, investors should monitor this development closely, given the strategic location within the prolific Athabasca Basin, known for high-grade uranium deposits.
The company’s potential acquisition of a 75% interest in the Dufferin Project from Eagle Plains Resources Ltd. through a combination of cash payments, share issuances, and exploration funding adds an attractive layer of leverage. The sophisticated geophysical techniques, including the time-domain electromagnetics (TEM) and ground gravity surveys, are particularly noteworthy. These programs are engineered to refine target drilling sites, especially around the NE-SW trending structures tied to past significant uranium discoveries.
With a budget of approximately $1.7 million for the upcoming drill program encompassing at least three holes totaling 1200 meters, investor attention is likely to peak in anticipation of initial results. Given the proximity to Cameco's Centennial Deposit, historic high-grade intersections bolster the optimism surrounding Dufferin West's geological prospects.
However, while the potential for significant discovery exists, investors must remain cognizant of the inherent risks associated with mining exploration, including cost overruns, regulatory hurdles, and fluctuating mineral prices. As the company consolidates its focus on Dufferin West—having terminated its option on the Basin Property—it underscores a commitment to advancing this particular asset, which has strategic implications for future drilling success.
In summary, while the immediate outlook appears promising, potential investors are encouraged to approach with cautious optimism, keeping an eye on developments as the drilling program unfolds in the coming months. This well-timed initiative may represent a significant value opportunity within the uranium sector, particularly as global energy demands continue to evolve.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
VANCOUVER, British Columbia, Feb. 09, 2026 (GLOBE NEWSWIRE) -- Refined Energy Corp. (CSE: RUU; OTC: RRUUF; FRA: CWA0) (“Refined” or the “Company”) is pleased to announce that the ground geophysical team has mobilized at Dufferin Lake Lodge as part of the Company’s Dufferin West exploration program. Drilling is planned to begin later in February. 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.
A time-domain EM (TEM) ground geophysical program is underway to prioritize additional drill targeting. Upon completion, the data will be used to generate a detailed inversion and develop three-dimensional Maxwell plates to further refine drill hole targeting. All contracts have been confirmed to commence the drill program later in February. The program is planned to include a minimum of three drill holes totalling approximately 1200 metres, designed to test two distinct conductors on the Dufferin West property. The initial budget is approximately $1.7 million. Simultaneously a ground gravity geophysical program will be conducted to further define and refine drill targets.
The Dufferin West program is driven by results from geophysical and technical work, paired with advanced interpretive analysis to define the most promising targets. This work has confirmed the presence of key NE-SW trending structures that correspond with known uranium-bearing systems across the region. Dufferin West is located approximately 18km from Cameco’s Centennial Deposit (historic drill hole VR-031W3 intersected 8.78% U308 over 33.9m).1 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, “This is an exciting period for Refined Energy. The Athabasca Basin region is renowned for its history of exploration, discovery, and development of high value uranium mines. With the drill arriving shortly, we will see the culmination of significant work to generate the prospective drill targets to test for high grade deposits that characterize the Athabasca Basin.”
The Company also announces that it has terminated the option on the Basin Property as it continues to focus on the Dufferin Project and the upcoming drill program.
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 Canadian exploration company focused on the discovery and advancement of uranium and critical energy metal projects within tier-one jurisdictions. With its Dufferin Project located in Saskatchewan’s Athabasca Basin region, the Company is advancing assets supporting the clean energy transition.
For further information, please contact:
Eli Dusenbury
Chief Financial Officer
+1 (604) 398-3378
[email protected]
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 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.
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.
FAQ**
How does Refined Energy Corp. (CSE: RUU; OTC: RRUUF) plan to finance the approximately $1.7 million budget for the Dufferin West exploration program and what are the expected timelines for cash payments and share issuances?
What geophysical results led Refined Energy Corp. (CSE: RUU; OTC: RRUUF) to prioritize the Dufferin West drill targets, and how do they compare to historical drilling results in the Athabasca Basin?
Can you elaborate on the decision to terminate the option on the Basin Property and how that strategic shift will impact Refined Energy Corp.'s (CSE: RUU; OTC: RRUUF) overall exploration strategy moving forward?
What measures is Refined Energy Corp. (CSE: RUU; OTC: RRUUF) implementing to mitigate the risks associated with exploration and development, particularly regarding regulatory approvals and financing challenges?
**MWN-AI FAQ is based on asking OpenAI questions about Refined Energy C (OTC: RRUUF).
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