Eagle Plains’ Partner Refined Energy Corp. Mobilizes Geophysical Team to the Dufferin West Project, Saskatchewan
Eagle Plains’ Partner Refined Energy Corp. Mobilizes Geophysical
Team to the Dufferin West Project, Saskatchewan
Cranbrook, B.C., February 09, 2026: Eagle Plains Resources Ltd. (TSX-V:EPL) (OTCQB: EGPLF)
(“EPL” or “Eagle Plains ”) is pleased to announce that partner Refined Energy Corp (CSE: RUU;
OTC: RFMCF; FRA: CWA0) (“Refined” ) has mobilized a ground geophysical crew to Eagle Plains’
100% owned Dufferin West Property, Saskatchewan.
Refined holds the exclusive option to acquire up to a 75% interest in the 10,140ha Dufferin Project, which
is made up of the North and West Dufferin properties, located adjacent to NexGen Energy’s SW3 Property
and approximately 18km from Cameco’s Centennial Deposit where historic drill hole VR -031W3
intersected 8.78% U308 over 33.9m (SMAF 74G12-0061).
Results from the time-domain EM (TEM) ground geophysical program will be used to generate detailed
inversion models and develop three -dimensional Maxwell plates to further refine drill hole targeting in
advance of a 2026 diamond drilling program . The drilling is planned to commence in late February and
will include a minimum of three drill holes totalling approximately 1200 metres, designed to test two
distinct conductors on the Dufferin West property. The depth to the base of the sandstone unconformity is
relatively shallow on the Dufferin West, interpreted to be between 60 to 340m. Concurrent with the
drilling, a ground gravity geophysical program will be conducted to further define and refine drill targets.
The approved 2026 budget is approximately $1.7 million, subject to adjustments based on timing, progress
and ongoing results. The program is structured to allow for expansion as drilling advances and new targets
are generated. The work will be managed by TerraLogic Exploration Inc.
See Dufferin West Project Information and Map here
The Dufferin Project is located on or in close proximity to the known trace of the Virgin River Shear Zone
and related splays which are key structures for potential uranium mineralization.
The Project is prospective for unconformity- and basement-hosted uranium mineralization in proximity to
the Virgin River Shear Zone. Faulted basement contacts and brittlely reactivated structures are the primary
locations for mineralization in the area covered by the Dufferin Project. The relatively high concentration
of secondary uranium-bearing minerals demonstrated by prior exploration work on the Dufferin Project
may also indicate uranium mineralization remobilization may play an important role in this region of the
Athabasca Basin. Geophysical EM and magnetic anomalies demonstrated by prior exploration work on
the Dufferin Project are supported by previous uranium and boron soil and lake sediment anomalies along
the inferred fault zones, which are expected to aid in focusing future exploration programs.
Some of the above results were taken directly from the SMDI descriptions and assessment reports (SMAF)
filed with the Saskatchewan government. Management cautions that historical results were collected and
reported by past operators and have not been veri fied nor confirmed by a Qualified Person, but form a
basis for ongoing work on the subject properties. Eagle Plains’ management cautions that past results or
discoveries on proximate land are not necessarily indicative of the results that may be achieved on the
subject properties.
Dufferin Option Agreement Details
To exercise the Option, Refined must make a series of cash payments and share issuances to Eagle Plains
and fund exploration expenditures on the Project. These payments, share issuance and expenditures are
separated into two phases, with the first Option e ntitling the Company to acquire a 60% interest in the
Project by paying CA$275,000, issuing an aggregate of 1,000,000 post -consolidated common shares to
EPL and funding CA$2,600,000 in exploration expenditures on the Project by December 31, 2026.
Pursuant to the second phase of the Option, the Company may acquire an additional 15% interest in the
Project (for a 75% total interest) by paying an additional CA$500,000, issuing an additional 500,000 post-
consolidated Shares to EPL and funding an additional CA$3,000,000 in exploration expenditures on the
Project by December 31, 2028. The Dufferin project is owned 100% by EPL, which has been appointed
as Operator during the first Option period.
If the First Option or the Second Option is exercised, a 2% smelter returns royalty will be granted to Eagle
Plains, 1% of which may be repurchased for CA$2,000,000.
Qualified Person
Technical information in this News Release has been reviewed and approved by C.C. Downie, P.Geo., a
director and officer of Eagle Plains, hereby identified as the “Qualified Person” under N.I. 43-101.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains is a well -funded, prolific project generator that continues to
conduct research, acquire and explore mineral projects throughout western Canada, with a focus on
critical metals integral to an increasingly electrified, decarbonized economy.
The Company was formed in 1992 and is the fourth- oldest listed issuer on the TSX -V (and the only
one of these four that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued
to deliver shareholder value over the years and thr ough numerous spin outs has transferred over
$110,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold
Corp. being notable examples. Eagle Plains latest spinout, Eagle Royalties Ltd. (CSE:“ER”) was
listed on May 24, 2023, and on October 30, 2025, ER shareholders overwhelmingly approved a three-
cornered amalgamation that resulted in a reverse takeover of Eagle Royalties by Summit Royalty Corp.
The resulting issuer is named Summit Royalties Ltd. and trades under the symbol SUM on the TSX
Venture Exchange with a market capitalization of over $100M.
On October 2, 2024, Eagle Plains announced the formation of a separate division within the Company
that will give Eagle Plains’ shareholders direct exposure to strategic opportunities in Canadian green
energy transition. As a wholly owned subsidiary of Eagle Plains, Osprey Power Inc. (“OP”) will
focus on identifying and advancing innovative and diverse clean energy project portfolios in target
markets throughout Canada, with an initial focus on Western Canada.
Eagle Plains’ core business is acquiring grassroots critical- and precious-metal exploration properties.
The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio
of projects toward discovery through collaborative partnerships and development of a highly
experienced technical team.
Expenditures from 2010- 2024 on Eagle Plains -related projects exceed $ 41M, the majority of which
was funded by third -party partners. This exploration work resulted in approximately 50,000m of
diamond-drilling and extensive ground- based exploration work facilitating the advancement of
numerous projects at various stages of development.
Throughout the exploration process, our mission is to help maintain prosperous communities by
exploring for and discovering resource opportunities while building lasting relationships through
honest and respectful business practices.
On behalf of the Board of Directors of Eagle Plains
“C.C. (Chuck) Downie, P.Geo”
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: [email protected] or visit our website at https://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery processes, etc. Forward-looking statements address future
events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ
materially from those currently anticipated in such statements.