Critical One Energy Receives Exploration Permit for Howells Lake Antimony-Gold Project
Critical One Energy Receives Exploration Permit for Howells Lake
Antimony-Gold Project
Toronto, ON – February 23, 2026 – Critical One Energy Inc. (“Critical One” or the “Company”) (CSE:
CRTL) (OTCQB: MMTLF) (FSE: 4EF) , a leading Canadian mining exploration company focused on
critical metals and minerals, is pleased to announce that the Ontario Ministry of Energy and Mines has
issued a n Exploration Permit, PR -24-000227, for its Howells Lake Antimony-Gold Project (“Howells Lake
Project”) located in the Thunder Bay Mining District of Ontario . Located approximately 120 kilometres (km)
west of the Ring of Fire , Ontario’s multi-billion-dollar infrastructure development, this project is strategically
positioned to contribute to Canada's critical minerals strategy, reducing reliance on foreign supplies amid
growing global demand and constrained supply.
The Howells Lake Project encompasses a promising mineral deposit with historical indications of high -grade
antimony and antimony-gold mineralized zones, plus unlimited exploration upside for new discoveries . With
the drilling permit now in hand, Critical One plans to commence an initial drilling program shortly to further
delineate the resource potential proximal to the historic discovery and advance the project toward a feasibility
study.
"We are thrilled with this approval, which underscores our commitment to responsible exploration and
development," said Duane Parnham, Founder, Executive Chairman and CEO of Critical One. "This is a
significant milestone that demonstrates the government's confidence in our project's viability and our team's
expertise. We remain deeply respectful of the Eabametoong First Nation (EFN) and are grateful for their
collaboration through the consultation process, which ensures that our activities align with community values,
environmental stewardship and mutual partnership."
The Company has prioritized environmental sustainability and community engagement throughout the
permitting process. The drilling program will incorporate best practices for minimal impact, including
comprehensive monitoring and consultation with EFN in the spirit of the agreed terms.
The Howells Lake Project represents one of Canada's largest known undeveloped antimony systems, with a
historical resource of 1.7 million tons at a grade of 1.4% antimony with associated gold mineralization
(Themistocleous, 1980)* . Historical drilling has returned grades that include individual assays up to 75%
antimony and over 14 g/t gold, as well as intervals such as 5.37% antimony over 8.35 metres and associations
with high-grade gold. The project spans an extensive land package of approximately 25,000 hectares across
a 30 km strike in a proven greenstone belt, positioning it as a key asset in addressing North America's growing
demand for critical minerals amid supply chain constraints and elevated antimony prices.
*Note: All geological and assay information contained in this document is historical in nature and the Qualified
Person (“QP”) responsible for the technical disclosure in this release is unable to determine if any of that data would
meet current NI 43-101 regulations regarding disclosure of scientific and technical information. Additionally, the QP
has not done sufficient work to make the resource current. The historical resource uses "Inferred + Speculated"
categories which are not comparable to or compliant with CIM definitions of resources. Drill intersections in the
historical report are reported as downhole intervals and no true width could be determined at this time. Historical
grades will need to be replicated and expanded upon with new drilling where uniform and dense drill intercepts, a
defined orientation and size to the ore body, and cut -off grades, are to be established to meet modern resource
standards. The information in the data recovered is considered of value and relevant to the Company’s project.
However, the Issuer is not treating the estimate as current.
References:
Themistocleous, S.G., 1980. Miminiska Lake Project, Northwestern Ontario, Geological Report, New
Jersey Zinc Exploration Company (Canada) Ltd.
Qualified Person
Matthew Trenkler, P.Geo. and Chief Geological Officer, Critical One Energy Inc., a Qualified Person
(“QP”) under NI 43-101, has reviewed and approved the scientific and technical content of this news
release. All technical information in this release pertaining to geology and assays is based on historical
data that cannot be verified by the QP.
About Critical One Energy Inc.
Critical One Energy Inc. is a forward-focused critical minerals and upstream energy company, powering
the future of clean energy and advanced technologies. The Howells Lake Antimony-Gold Project focuses
the Company’s exposure on antimony, one of the most in-demand critical minerals, as well as gold, which
is known to occur at numerous locations on the Howells Lake Project. Backed by seasoned management
expertise and prime resource assets, Critical One is strategically positioned to meet the rising global
demand for critical minerals and metals. Its mine exploration portfolio is led by antimony-gold exploration
potential in Canada and uranium investment interests in Namibia, Africa. By leveraging its techn ical,
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 found at criticaloneenergy.com and on the
Company’s SEDAR+ profile at www.sedarplus.ca.
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
Neither the Canadian Securities Exchange nor CIRO accepts responsibility for the adequacy or accuracy
of this release.
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