Critical One Energy Acquires 18.5% Interest in Dark Star Minerals, Bolstering Support for Uranium Development in Namibia
Critical One Energy Acquires 18.5% Interest in Dark Star Minerals,
Bolstering Support for Uranium Development in Namibia
Toronto, ON – September 2, 2025 – Critical One Energy Inc. (formerly Madison Metals Inc.)
(“Critical One ” or the “ Company”) (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF0), a leading
Canadian exploration company focused on critical metals and min erals, is pleased to announce
its acquisition of an 18.5% interest in Dark Star Minerals Inc. (“Dark Star”) (CSE: BATT, FSE:
P0W), an exploration company advancing high-potential uranium p rojects in Namibia’s Erongo
uranium province. This strategic investment underscores Critical One’s commitment to supporting
the development of uranium assets to meet energy demands while maintaining a focus on its core
Howells Lake Antimony-Gold Projec t (“Howells Lake Project”), lo cated near the Ring of Fire
corridor in the Thunder Bay Mining Division of Ontario, Canada.
The 18.5% stake in Dark Star positions Critical One as a significant shareholder, aligning with its
vision to drive value through strategic partnerships for the global energy transition. The investment
follows the successful closing of Critical One’s sale of its Kh an and Cobra uranium projects to
Dark Star, announced on August 7, 2025 , in a deal valued at US$3.5 million. As part of the
agreement, Critical One received 14 million common shares of Da rk Star, contributing to its
current ownership position, along with staged cash payments and a 2% gross overriding royalty
on all metals produced from the two uranium projects, with an o ption for Dark Star to buy back
0.5% of either royalty for US$1.5 million.
“We are excited to hold a significant stake in Dark Star and to support their efforts to advance the
Khan and Cobra uranium projects in Namibia, the world’s third-largest uranium-producing country
according to the World Nuclear Association,” said Duane Parnham , Founder, Executive
Chairman, and CEO of Critical One Energy. “These projects, loca ted near the Rossing Uranium
Mine, have demonstrated significant potential, with high-grade results of up to 8.47% U ₃O₈ at
Khan West (see February 7, 2024 press release). Our investment reflects our confidence in Dark
Star’s ability to accelerate exploration and development, creating value for all stakeholders.”
Namibia’s Erongo uranium province is a globally recognized juri sdiction for uranium mining,
supported by a favourable regulatory environment and proximity to established operations like
the Rossing Uranium Mine. The Khan West Project, including Mini ng Licence 86A, has been
authorized for nuclear fuel extraction by the Namibian Ministry of Mines and Energy, with recent
exploration highlighting high-grade uranium intrusions. The Cobra North Project further enhances
Dark Star’s portfolio with multiple exploration targets and a h istorical resource estimate,
positioning it for significant growth in the uranium sector.
With the Company as a shareholder and with Duane Parnham coming on as a director of Dark
Star, Critical One is well-positioned to contribute to the stra tegic development of these assets
while focusing its primary efforts on the Howells Lake Project. This dual approach strengthens
Critical One’s role in meeting the rising global demand for cri tical minerals and clean energy
solutions.
“We look forward to collaborating with Dark Star to unlock the potential of these uranium projects
while continuing to advance our antimony and gold exploration in Canada,” added Parnham. “This
investment aligns with our mission to power the future of clean energy and advanced
technologies, delivering value to our shareholders and supporting global energy transition goals.”
About Critical One Energy Inc.
Critical One Energy Inc. (formerly Madison Metals Inc.) is a forward-focused critical minerals and
upstream energy company, powering the future of clean energy and advanced technologies. The
addition of the Howells Lake Antimony-Gold Project broadens the Company’s exposure to
antimony, one of the most in-demand critical minerals. Backed b y seasoned management
expertise and prime resource assets, Critical One is strategica lly positioned to meet the rising
global demand for critical minerals and metals. Its mine explor ation portfolio is led by antimony-
gold exploration potential in Canada and uranium investment int erests in Namibia, Africa. By
leveraging its technical, managerial, and financial expertise, the Company upgrades and creates
high-value projects, thereby driving growth and delivering value to its shareholders.
Additional information about Critical One Energy Inc. can be fo und at criticaloneenergy.com and
on the Company’s SEDAR+ profile at www.sedarplus.ca.
About Dark Star Minerals Inc.
Dark Star Minerals Inc. is a mineral exploration company focuse d on the acquisition and
development of critical mineral resources, with a strategic emphasis on uranium and rare earths.
Its portfolio includes the Cobra North and Khan West uranium pr ojects in Namibia’s Erongo
uranium province, the Bleasdell Project in Northern Saskatchewa n, Canada, and an option to
acquire a 100% interest in the Ghost Lake claims in Labrador.
For further information, please contact:
Duane Parnham
Executive Chairman & CEO
Critical One Energy Inc.
+1 (416) 489-0092
Media inquiries:
Adam Bello
Manager, Media & Analyst Relations
Primoris Group Inc.
+1 (416) 489-0092
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