Critical One Energy Geophysical Interpretation Identifies Significant Extension Potential to Howells Lake Antimony-Gold Mineralization

Rhea-AI Summary

Critical One Energy (OTCQB: MMTLF / CSE: CRTL) reported that advanced VTEM airborne magnetic and EM modelling at its Howells Lake Antimony-Gold Project identified significant extension potential for antimony and gold mineralization.

Key findings: modelled EM anomalies extend laterally at least 2 km west, occur >300 m deep, and lie below historic drill holes; favourable steeply dipping stratigraphy and structural corridors were mapped; historical intercepts include up to 4.7% antimony and 25.5 g/t gold, and a historical non-NI resource of 1.7 million tons @ 1.4% Sb.

Positive

• Modelled EM anomalies extend at least 2 km west of historic drilling
• EM conductors interpreted at depth beyond 300 m
• Historic drill intercepts include 4.7% Sb and 25.5 g/t Au
• Property covers 25,000 hectares with 30 km strike of favourable geology
• Company states an initial, fully funded drill program is being planned

Negative

• Historical resource of 1.7M tons @ 1.4% Sb is not NI 43-101 compliant
• Qualified Person could not verify historic assays or make the resource current
• Drill intersections reported as downhole; true width unknown
• Historic work predates NI 43-101 by >40 years and requires full redrill/mapping

Key Figures

Historic intercept (West) 4.7% antimony, 25.5 g/t gold over 1.43 m Discovery drill hole W-79-2 at Howells Lake West Zone

Historic intercept (East) 75% antimony within 5.37% over 8.35 m Drill hole MC-V3-79-22 at Howells Lake East Zone

Additional intercept 1.18% antimony over 5.8 m Drill hole MC-V3-79-11 at Howells Lake East Zone

Conductor extension length 2 km Modelled EM anomalies extending west from drilled area

Conductor depth >300 m EM anomalies extending at depth along structural corridor

Favourable strike length 30 km Strike length of favourable geology on Howells Lake property

Property size 25,000 hectares Howells Lake Project land package

Historical resource 1.7 million tons at 1.4% antimony Non-NI 43-101 compliant historical resource at Howells Lake

Market Reality Check

$0.7780 Last Close

Volume Volume 1000 versus 20-day average 6788 (relative volume 0.15) shows limited trading interest before this release. low

Technical Price 0.798 is trading above the 200-day MA of 0.42 while still 20.99% below the 52-week high.

Peers on Argus

MMTLF was down 2.66% while uranium/energy peers were mixed: several up between 4–12% (GVXXF, APAAF, NFUNF, PTUUF) and one down (WSTRF -1.64%). This points to stock-specific factors rather than a uniform sector move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 13	Management appointment	Positive	-7.0%	Appointment of Chief Geological Officer to lead Howells Lake exploration.
Oct 01	Project update	Positive	+22.1%	Geophysical modeling confirmed significant depth extension at Howells Lake.
Sep 15	Management appointment	Positive	+6.8%	New CFO with extensive public mining company experience appointed.
Sep 04	Project acquisition	Positive	+19.5%	Acquisition of KCR Gold Project adjacent to Howells Lake.
Sep 02	Strategic investment	Positive	+12.8%	Purchase of 18.5% interest in Dark Star Minerals for uranium exposure.

Pattern Detected

Most prior positive corporate and project updates saw aligned, positive price reactions, with one notable divergence on a management appointment.

Recent Company History

This announcement extends a series of developments around Critical One’s Howells Lake Antimony-Gold Project. Since September 2025, the company acquired nearby KCR and a Namibian uranium stake, reinforced management with a new CFO and Chief Geological Officer, and previously highlighted depth extension and expansion potential at Howells Lake. Four of the last five positive news events, including acquisitions and technical updates, saw positive 24-hour price reactions, while the most recent executive appointment on November 13, 2025 coincided with a short-term decline.

Market Pulse Summary

This announcement highlights expanded geophysical targets and historical high-grade antimony-gold intercepts at Howells Lake, with EM conductors extending at least 2 km and to depths beyond 300 m. The project hosts a non–NI 43-101 compliant historical resource of 1.7 million tons at 1.4% antimony, so substantial new drilling and modern work will be required to establish compliant estimates. Investors may track progress on the planned drill program and subsequent technical updates.

Key Terms

electromagnetic (em) technical

"airborne magnetic and electromagnetic (EM) geophysical survey has identified"

Electromagnetic (EM) describes waves of electric and magnetic energy that travel through space and materials, including familiar forms like visible light, radio signals, microwaves and X-rays; think of them as ripples that carry energy and information. Investors should care because EM behavior affects product performance, wireless connectivity, safety standards, regulatory approvals and manufacturing quality—factors that can influence costs, market access and liability for technology and healthcare companies.

stibnite medical

"zone containing stibnite (antimony sulphide), pyrite, and pyrrhotite"

Stibnite is a naturally occurring mineral made of antimony and sulfur (chemical formula Sb2S3) and is the main ore from which the metal antimony is extracted. It matters to investors because antimony is a raw material used in flame retardants, batteries, alloys and some electronic components, so discoveries, mining output or supply disruptions of stibnite can influence commodity prices and the prospects of mining and manufacturing companies — like finding a concentrated vein of a useful metal.

porphyry technical

"fault zones on the margins of a feldspar porphyry EM anomalies to the west"

A porphyry is a type of large, underground mineral deposit that contains valuable metals such as copper, gold, or molybdenum, often spread over a wide area. Think of it as a giant underground treasure chest, where the metals are embedded in rock formations. These deposits are important to investors because they can be the source of significant resource extraction projects with the potential for substantial economic returns.

ni 43-101 regulatory

"The resource is not National Instrument (NI 43-101) compliant and therefore"

A Canadian regulatory standard that sets the rules for how mining and exploration companies must report mineral resources and reserves, requiring technical reports prepared or signed off by an independent, certified expert. It matters to investors because it creates a consistent, transparent “inspection report” for mining projects, making it easier to compare prospects, judge the reliability of claims, and assess geological and financial risk before investing.

qualified person regulatory

"a Qualified Person ("QP") under NI 43-101, has reviewed and approved"

A qualified person is someone with specialized knowledge, experience, and training in a particular field, allowing them to accurately assess and verify information or work. Their expertise helps ensure that reports, evaluations, or decisions are trustworthy and meet required standards. For investors, a qualified person provides confidence that the information they rely on is credible and properly validated.

AI-generated analysis. Not financial advice.

Toronto, Ontario--(Newsfile Corp. - December 2, 2025) - Critical One Energy Inc. (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF0) (formerly Madison Metals Inc.) ("Critical One" or the "Company"), a leading Canadian mining exploration company focused on critical metals and minerals, is pleased to announce that advanced geophysical and geological modelling of a recently completed VTEM airborne magnetic and electromagnetic (EM) geophysical survey has identified significant potential expansions to the mineralization at its Howells Lake Antimony-Gold Project ("Howells Lake Project"). The new interpretive results confirm the potential for discovering additional areas of mineralization containing both antimony and gold along highly altered and sulphide-bearing stratigraphic contacts that extend laterally westward for at least two kilometres (km). Modelled EM conductors also reside at depth below historic drilling and along strike of a magnetic low structural corridor. The new interpretive work indicates that the favourable stratigraphy is steeply dipping and extends to a depth of more than 300 metres (m). The Howells Lake Project is located approximately 120 km west of the Ring of Fire road corridor in the Thunder Bay North Mining Division of Ontario, Canada.

Analysis of the recent VTEM geophysical survey, combined with detailed geological modelling, identified characteristics of the antimony-gold mineralization and related altered host rocks that extend west, northeast, and at depth from the antimony-gold mineralization discovered in 1979. The analysis reveals:

• Previous drilling at the historical Howells Lake West Zone intersected up to 4.7% antimony and 25.5 g/t gold over 1.43 metres in discovery drill hole W-79-2
• Previous drilling at Howells Lake East Zone intersected up to 75% antimony within an interval of 5.37% antimony over 8.35 metres in drill hole MC-V3-79-22 and 1.18% antimony over 5.8 metres in drill hole MC-V3-79-11
• Alteration mapping, data reconstruction, and geophysical interpretation show the West antimony-gold zone to be a west-striking, north-dipping, silicified, and strongly altered and mineralized zone containing stibnite (antimony sulphide), pyrite, and pyrrhotite as well as brecciated graphite with stibnite
• Modelling of the newly defined EM anomalies associated with the mineralized zone shows an extension of airborne electromagnetic responses or clusters of anomalies extending from the drilled area for at least 2 km to the west (Figure 1)
• EM anomalies also extend northeast and at depth (>300 m) along a magnetically low structural corridor previously known to span over 8 km of the current claims (Figures 1, 2)
• Newly modelled EM conductors reside below the historic east and west zones indicating lateral extension to previously intersected antimony-gold mineralization (Figure 2)
• Antimony-gold mineralization is interpreted to be controlled by a late west-striking, north-dipping altered stratigraphy and fault zones on the margins of a feldspar porphyry
• EM anomalies to the west indicate favourable stratigraphy outside of the historic V-3 deposit, while the northeast-southwest striking magnetic low may host additional porphyries that mark conduits to ore-forming fluids
• Additional modelling helped to confirm and categorize other similar antimony-gold targets, some associated with strong antimony in lake sediment geochemical anomalies, along the 30 km strike length of favourable geology on the Company's 25,000-hectare property
• Howells Lake is the only significant new antimony-gold project in Ontario. The only advanced project to contain significant reserves of antimony-gold in North America is Perpetua Resources' Stibnite Gold Project, which contains total proven and probable reserves of 4.8 million oz of gold grading 1.43 g/t, and 74,000 tons of antimony grading 0.064%. Current North American production is limited to Americas Gold and Silver Corporation's Galena Complex that has recently produced 224 tons of antimony in Q1-Q3 of 2025

"As we work our way through the new geophysical data and integrate that information into our public and private dataset, we are consolidating our ideas on how we will execute our initial, fully funded drill program to evaluate the significant antimony and gold potential at Howells Lake," said Duane Parnham, Founder, Executive Chairman and CEO of Critical One. "These interpretive results validate our understanding of the potential of Howells Lake to be a cornerstone asset with exceptional antimony and gold exploration and development potential."

Geological and geophysical data review and analysis are ongoing. Critical One is also advancing its exploration program plans for follow-up drilling to delineate and expand the antimony-gold deposits (see the press releases dated August 28, 2025 and September 4, 2025, respectively).

Figure 1: Plan View of the latest geophysical results at the Howells Lake Antimony-Gold Project. AEM anomalies and modelled "Deep EM" Maxwell plates overlay airborne magnetic intensity (FVD).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12034/276540_8eae952784eb3bb6_002full.jpg

Figure 2: North-looking cross section of Howells Lake antimony-gold zones. Modelled EM conductors show potential for lateral extension of mineralized zones below historic drilling.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12034/276540_8eae952784eb3bb6_003full.jpg

The Howells Lake Project hosts a historical resource of 1.7 million tons at a grade of 1.4% antimony with associated gold mineralization. The resource is not National Instrument (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 will 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.)

*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 data recovered is considered of value and relevant to the Company's project. However, the Issuer is not treating the estimate as current.

References:

1. Themistocleus, 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. (formerly Madison Metals 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
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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276540

FAQ

What did Critical One (MMTLF) report about the Howells Lake project on December 2, 2025?

The company announced VTEM modelling shows EM anomalies extending at least 2 km west and occurring >300 m deep, indicating expansion potential for antimony and gold.

How do the historical grades at Howells Lake compare to Critical One's findings (MMTLF)?

Historic intercepts cited include up to 4.7% antimony and 25.5 g/t gold, plus a non-NI historical resource of 1.7M tons @ 1.4% Sb.

Does the historical 1.7 million ton resource at Howells Lake meet NI 43-101 standards for MMTLF?

No; the historical resource is not NI 43-101 compliant and the Qualified Person says it cannot be treated as current.

Will Critical One (MMTLF) drill at Howells Lake following the VTEM results?

The company said it is integrating the geophysical data and planning an initial, fully funded drill program to evaluate targets.

What depth and lateral targets should investors expect from MMTLF's Howells Lake exploration?

The release highlights modelled conductors extending laterally ≥2 km and to depths of >300 m beneath historic holes.