Critical One Energy Signs Exploration Agreement with Eabametoong First Nation and Commences Drilling at Howells Lake Antimony-Gold Project
Critical One Energy Signs Exploration
Agreement with Eabametoong First Nation and
Commences Drilling at Howells Lake
Antimony-Gold Project
Toronto, Ontario--(Newsfile Corp. - March 12, 2026) -
Critical One Energy Inc.
(CSE: CRTL) (OTCQB:
MMTLF) (FSE: 4EF) ("
Critical One
" or the "
Company
"), a leading Canadian mining exploration
company focused on critical metals and minerals, is pleased to announce the signing of a significant
exploration agreement with Eabametoong First Nation and the commencement of Phase I drilling at its
flagship
Howells Lake Antimony-Gold Project
("Howells Lake Project") in Ontario, Canada. The Howells
Lake Project is located in the Thunder Bay Mining Division and seated on the traditional territory of
Eabametoong First Nation, approximately 120 to 200 kilometres (km) west of the Ring of Fire corridor.
The agreement with Eabametoong First Nation (EFN) establishes a collaborative framework for
responsible exploration and potential future development of the Howells Lake Project, underscoring
Critical One's commitment to building long-term, mutually beneficial relationships with EFN and
Indigenous communities in which it operates. The Company emphasizes transparency and respect for
traditional Indigenous knowledge and ways of life, alongside meaningful economic opportunities for EFN
members, as foundational to advancing the project sustainably.
With the agreement in place, Critical One has mobilized crews and commenced Phase I diamond
drilling at the Howells Lake Project. This initial program is designed to test high-priority targets, confirm
and expand upon historical high-grade antimony and gold intersections, and gather essential data to
support future resource delineation and development efforts.
"Eabametoong First Nation has been considering the proposed work at Howells Lake, and through
recognition of EFN engagement protocols and the rights and interests of membership to partner in the
design and conduct of activities in EFN territory, this project represents an important step forward in
corporate and First Nation relationships," said Chief Solomon Atlookan. "As our families intensively use
and harvest throughout the Howells and surrounding areas, so we had to develop new and innovative
environmental measures as well as a strong role in deciding where and when activities may occur,
including community environmental monitors to participate on site in any activity."
Chief Atlookan continued saying: "It has been a positive and respectful dialogue with Duane Parnham
and his team to establish this phased agreement that will ensure our community is involved in guiding the
Howells Lake Project over time and will also share in benefits from any work on our land. We are finding
ways for this project to enable members to get out on the land together and make it easier to harvest and
enjoy our territory and way of life, which is a major change from the harmful legacy of other exploration
companies. Partnering with Eabametoong is the way forward."
Duane Parnham, Founder, Executive Chairman and CEO of Critical One, added: "We are thrilled to
formalize our relationship with Eabametoong First Nation and to kick off drilling at Howells Lake. This
milestone reflects our dedication to responsible exploration in collaboration with Indigenous partners
while advancing a project of strategic importance for critical minerals like antimony, which is essential for
defence, technology, and clean energy applications. Phase I drilling marks the beginning of an exciting
phase for the Company, and we look forward to sharing results as they become available."
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 includes individual assays of up to 75%
antimony and over 14 grams/ton (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 a substantial 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.
The Company will issue CDN$250,000 worth of shares within 30 days of signing, make other cash
considerations based on exploration value, and cover expenses throughout the life of the project.
*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 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 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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This news release contains "forward-looking information" within the meaning of applicable securities
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