Critical One Energy (CTLOF) proposes spinning out its Kenora and Namibia assets into Critical Two Energy and distributing shares to shareholders. The proposed transfer covers the Kenora Uranium Property and Namibia uranium and copper interests, with a pro rata share dividend to eligible shareholders. Critical Two is expected to seek a separate stock exchange listing.
Critical One has engaged Micon International for an independent technical review of Kenora, including an audit of exploration completed during the former option period. Its 100% interest was restored after American Atomics terminated its option effective May 3, 2026. The funded Howells Lake 2026-2027 exploration program continues with its budget unaffected.
The spin-out requires board approval and all required regulatory, exchange and shareholder approvals. The record date and distribution terms will be announced once the transaction structure is finalized.
Critical One Energy (CTLOF) extended antimony mineralization 30 m northeast of Howells Lake’s East Zone in new drilling. Hole HWL-2026-017 returned 11.9 m at 1.75% antimony, including 3.6 m at 3.78%. East Zone hole HWL-2026-009 returned antimony intervals of 1.15 m at 3.32% and 3.75 m at 0.90%.
Beneath the East Zone, HWL-2026-014 returned 7.0 m at 1.49 g/t gold, including 3.0 m at 2.69 g/t, and a separate 6.0 m interval containing antimony, gold and zinc. West Zone hole HWL-2026-013 returned 5.0 m at 0.57 g/t gold. Critical One targets 15,000 m of drilling by the end of its 2026 campaign and plans a mineral resource estimate. More assays are pending, including from part of HWL-2026-017; the company also plans deeper drilling and larger-core drilling for metallurgical analysis.
Critical One Energy (CTLOF) has received an independent NI 43-101 Technical Report from Micon International for its Howells Lake Antimony-Gold Project in Ontario, dated and effective September 15, 2026.
Micon concludes that Critical One’s modern exploration data form a suitable foundation for further exploration, deposit modelling and work toward a potential initial mineral resource estimate. Near-surface antimony mineralization has been intersected over more than 300 metres of strike, from surface to about 200 metres depth, with additional drilling required to confirm continuity. High-grade massive-stibnite intersections in Holes 6 and 7 are supported by broader antimony-bearing intervals in Hole 16, while gold has been identified west of and beneath the main antimony zone.
Micon supports a fully funded C$9.4 million, 20,000-metre drill program and recommends continued drilling, more metallurgical testwork on flotation and gravity concentration, trenching of surface mineralization, and strengthened QA/QC sampling. The report does not include a current mineral resource estimate.
Critical One Energy (CTLOF) will begin trading on the OTCQB Venture Market in the United States under the new symbol “CTLOF”, effective at market open on Thursday, September 3, 2026, replacing its prior U.S. symbol “MMTLF”.
The new OTC symbol is derived from the Critical One name and aligns the company’s U.S. trading identity with its Canadian Securities Exchange symbol “CRTL”, completing a market identity transition that began with the adoption of the Critical One Energy name announced on December 17, 2024. Common shares will continue to trade on the CSE under “CRTL” and on the Frankfurt Stock Exchange under “4EF”. The symbol change does not affect the corporate name or share capital, and no action is required from existing shareholders.
Critical One Energy is a critical minerals exploration company focused on advancing its flagship Howells Lake Antimony-Gold Project in Ontario, Canada, as a potential North American source of antimony for defence, energy storage, industrial applications, and high-performance technologies.