The Conversation (0)
Critical One Energy Inc. (formerly Madison Metals Inc.) (" Critical One " or the " Company " or the " Issuer ") (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF0), a leading Canadian exploration company focused on critical metals and minerals, is pleased to announce the expansion by 67% of land holdings at its wholly owned Howells Lake Antimony-Gold Project ("Howells Lake Project") in the Thunder Bay Mining Division of Ontario, Canada. This strategic expansion follows the Company's review and processing of the Government of Ontario's soil sample analysis database for the Fort Hope region, and continues to strengthen Critical One's position as the owner and operator of Canada's largest undeveloped antimony deposit.
Recent analysis of soil results revealed high-priority antimony and gold anomalies in multiple unexplored areas, prompting Critical One to stake additional claims to secure numerous newly identified, high-priority antimony targets. Soil samples from up to five kilometres (km) west of the known antimony-gold mineralization in the V-3 grid area returned the highest antimony values in the entire dataset of more than 3,600 widespread sample sites, with numerous new target areas revealing values that exceed those found proximal to the values at and near known antimony and gold on the property. Previous drilling at V-3 intersected up to * 75% antimony within a core interval of 5.37% antimony over 8.35 meters , alongside gold mineralization ( see May 14, 2025 press release ). These results highlight the potential for further expansion of the known antimony-gold mineralized zones, which remain open along strike and at depth, as well as the potential to locate completely new areas of mineralization.
"The expansion of our property marks a pivotal milestone for Critical One as we continue to unlock the immense potential of the Howells Lake Project," said Duane Parnham, Founder, Executive Chairman and CEO of Critical One. "With this move, Critical One now controls all significant antimony-gold targets over a 30 km strike length, creating the opportunity to transform Howells Lake into a unique, district-scale project."
Parnham continued, "The presence of highly anomalous geochemical results at many new locations validates our exploration strategy and underscores the project's significance as a rare, large-scale antimony-gold system located in a tier-one jurisdiction. By securing additional property, we have significantly added to the discovery potential elsewhere on our project as we build its long-term potential to meet the growing global demand for critical minerals, while delivering value to our shareholders."
Key Highlights of the Expansion:
- Compelling Targets Identified: Lake sedimentary geochemical (LSG) databases released by the Ontario government in 2000 (OGS/MNDM data release August 2000, MRD089).
- Identified very strong multi-location antimony-gold targets along strike and up to 5 km southwest of the main historical antimony resources, which included assay intervals grading as high as *59.2% antimony and 14.19 grams per tonne gold ( see May 14, 2025 press release ).
- Identified very strong multi-location antimony-gold targets along strike and up to 5 km southwest of the main historical antimony resources, which included assay intervals grading as high as *59.2% antimony and 14.19 grams per tonne gold ( see May 14, 2025 press release ).
- Strategic Properties Acquired: Critical One has acquired an additional 9,979 hectares, increasing the Howells Lake Project's total land package to 24,887 hectares.
- Untapped Potential: The newly staked areas cover extensions of known antimony-gold mineralization as well as completely untested geochemical targets, many of which host prospective geophysical anomalies already identified in historic wide-spaced Ontario government magnetic and electromagnetic geophysical data.
- Strategic Positioning: With antimony prices surging over 550% since 2015 due to global supply constraints and China's 2024 export ban, Critical One is poised to address critical mineral supply chain challenges for defence, battery technologies, and clean energy applications.
Additionally, the Company wishes to announce the completion of more than 3,000 km of VTEM airborne geophysics by Geotech over the entire Howells Lake Project. The geophysical data is currently being processed to provide details on specific target selection, definition and interpretation. Additional news will be released as this work progresses.
The Howells Lake Project, located near Ontario's Ring of Fire corridor, hosts a historical resource of 1.7 million tons at a grade of 1.4% antimony with associated gold mineralization. The resource is not NI 43-101 compliant and therefore readers should not rely on the information. The resource estimate does not include categories as required under NI 43-101 and the report predates NI 43-101 by decades. Given the work was completed more than 40 years ago, all work would need to be redone as the historic work cannot be used in a NI 43-101 compliant report. Geological mapping as well as significant drilling will be required to establish a NI 43-101 resource estimate for the known antimony mineralization. The resource presented in the report does not provide the parameters used in the preparation of the resource estimate (tonnage estimate). Historical Report Reference: Themistocleous, S.G., Idziszek, C., 1980. Miminiska Lake Project Northwestern Ontario Geological Report, New Jersey Zinc Exploration Company (Canada) Ltd. (*Also see historical information disclosure below).
The newly staked claims cover extensions of the known areas of antimony mineralization, where historic drilling and recent surface sampling confirmed the presence of broad zones of strong shearing, carbonate, and sericite alteration that are known to host antimony and gold mineralization.
Critical One is advancing its exploration program with plans for follow-up drilling to further delineate and expand the antimony-gold resource. Supported by a recent private placement of CDN$3.3 million and a clean capital structure with approximately 50 million common shares outstanding, the Company remains fully funded for near-term exploration, including a maiden drill program on the V-3 historical antimony deposit and drilling of other antimony-gold target zones.
Figure 1: Land position and antimony LSG results.
*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. Drill intersections are reported as downhole intervals. No true width could be determined at this time. The information in the recovered data, however, is considered to be of value and relevant to the Company's project. However, the Issuer is not treating the estimate as current.
Qualified Person
Bruce Durham P.Geo, a Qualified Person ("QP") under NI 43-101, who is independent of the Company, has reviewed and approved the technical content of this news release. All technical information in this release is based on historical data that cannot be verified by the QP.
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 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
ir@criticaloneenergy.com
Media inquiries:
Adam Bello
Manager, Media & Analyst Relations
Primoris Group Inc.
+1 (416) 489-0092
media@primorisgroup.com
Neither the Canadian Securities Exchange nor CIRO accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. Forward-looking information contained in this press release includes, but is not limited to, statements relating to the Company's business strategy and objectives.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that: the Company will have the resources required in order to conduct its business as currently operated.
However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, risks relating to the mining industry in general, and other risks as described in the Company's continuous disclosure record on SEDAR+.
Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. The Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/210b4b65-6570-4a89-a584-f1cde8235ed4
