VANCOUVER, British Columbia, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Refined Energy Corp. (CSE: RUU | OTC: RRUUF | FRA: CWA0) ("Refined” or the "Company") announces that it has signed a further amendment with Eagle Plains Resources Ltd. ("EPL") on July 29, 2025 (the “Amended Agreement”), to the option agreement dated February 26, 2024, which was amended on January 30, 2025 (the “Agreement”), under which the Company has the right to acquire up to an undivided seventy-five percent (75%) interest in and to the Dufferin North and Dufferin West Property (the “Property”).
The Company and EPL agree to extend the due dates of the following:
| (i) | the additional cash payment of $100,000 from December 31, 2025, to April 30, 2026; | |
| (ii) | the exploration expenditures on the Property of an additional $350,000 from December 31, 2024, to April 30, 2026; and | |
| (iii) | the exploration expenditures on the Property of an additional $1,000,000 from December 31, 2025, to April 30, 2026. |
The Company shall issue 100,000 common shares in the capital of the Company (the “Shares”) in consideration of the Amended Agreement. The Shares shall be issued within ten (10) business days of receipt of the Canadian Securities Exchange (“CSE”) approval of this Amended Agreement.
The issuance of Shares to the EPL pursuant to the Amended Agreement is subject to approval by the CSE. All Shares issued to EPL 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. The Shares issuable pursuant to the Amened Agreement will be released from the resale restrictions in two tranches: fifty percent (50%) of such Shares will be released after four (4) months, and fifty percent (50%) of such Shares will be released after eight (8) months.
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. 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% 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.
For further information, please contact:
Eli Dusenbury
Phone: (604) 398-3378
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Cautionary Note Regarding 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 beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the Amended Agreement and the receipt of all necessary regulatory and other approvals for the Amended Agreement.
Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, the assumption that: the Company will successfully complete its planned exploration programs in accordance with current expectations and that such programs will yield the results anticipated by the Company, including identifying disrupted faults delineated by EM conductors and other geophysical anomalies for drill targeting.
Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. 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 risks inherent in the exploration and development of mineral projects, including risks relating to changes in project parameters as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project and that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company, including identifying disrupted faults delineated by EM conductors and other geophysical anomalies for drill targeting and discovering unconformity- and basement-hosted uranium mineralization. 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 CSE has neither approved nor disapproved the information contained herein.
