Critical One Energy Signs Strategic MOU to Advance Infrastructure at Howells Lake Antimony-Gold Project
Rhea-AI Summary
Critical One Energy (OTCQB: MMTLF) signed a strategic, non-binding MOU with Green Infrastructure Partners, one of Canada's largest civil infrastructure firms, for its Howells Lake Antimony-Gold Project in Northern Ontario.
The framework covers road planning, civil works, First Nation workforce training, and a first right of refusal on contract mining and material supply, aligning the project with the planned Ring of Fire road program and broader critical minerals infrastructure build-out.
Positive
- Strategic MOU with one of Canada’s largest civil infrastructure companies
- Framework for road planning, construction, civil works and haulage at Howells Lake
- First right of refusal for GIP on contract mining and material supply
- Alignment with Northern Ontario Ring of Fire road program starting June 2026
- Workforce training for First Nation members with Fleming College support
- Positions GIP as intended key infrastructure partner over initial 24-month term
Negative
- MOU is non-binding and depends on future definitive agreements
- Specific services and commercial terms remain unspecified at this stage
- Activities subject to Eabametoong First Nation cooperation and existing agreements
- Project execution contingent on regulatory approvals and applicable permits
News Market Reaction – MMTLF
In the May 28 session, MMTLF gained 0.93%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario--(Newsfile Corp. - May 28, 2026) - Critical One Energy Inc. (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF) ("Critical One" or the "Company") is pleased to announce the signing of a strategic Memorandum of Understanding (the "MOU") with Green Infrastructure Partners Inc. ("GIP"), one of Canada's largest civil infrastructure companies. The MOU sets the framework for GIP to support road planning, civil works, workforce training, and contract mining services at the Company's flagship Howells Lake Antimony-Gold Project ("Howells Lake Project") located approximately 120 kilometres west of the Ring of Fire access corridor in Ontario, Canada. GIP's active Northern Ontario infrastructure work with the provincial government creates planning synergies for the Howells Lake Project, including access route considerations, as the project advances.
"This MOU brings one of Canada's largest civil infrastructure groups into the Howells Lake story at the right moment," said Duane Parnham, Founder, Executive Chairman and CEO of Critical One. "We have advanced our Howells Lake Project from a historic antimony-gold system into an active, permitted project, with drilling of high-grade antimony, including near-pure stibnite (see the news release dated May 15, 2026). This drill work supports the Howells Lake Project's potential as a direct-shipping-ore route to military and industrial buyers, and GIP helps us plan the road access, infrastructure, and haulage of ore to market. We now have the asset, the permits, and the partners to position Howells Lake as a North American source of critical minerals for defence, technology, and clean energy."
Highlights:
Establishes a framework to bring GIP's heavy civil infrastructure capacity into Howells Lake Project planning ahead of broader Northern Ontario infrastructure demand.
Scope includes road planning and construction, civil works and certified heavy equipment operator training for First Nation community members delivered with Fleming College in Lindsay, Ontario, through the Parnham Family Student Endowment, and a first right of refusal for GIP on contract mining and material supply.
Aligns the Howells Lake Project with the broader Northern Ontario critical minerals infrastructure build-out, including Ontario's Ring of Fire road program, with construction scheduled to begin in June 2026.
Initial term of 24 months; non-binding pending definitive agreements.
The MOU positions GIP as Critical One's intended key infrastructure partner from exploration through future development planning, providing the Company with early access to heavy civil capacity at a time when infrastructure demand in Northern Ontario is accelerating.
Specific services and commercial terms remain subject to definitive agreements, Eabametoong First Nation ("EFN") cooperation, regulatory approvals, and applicable permits. All activities are expected to be carried out in cooperation with EFN under the existing Exploration Agreement announced in a press release on March 12, 2026.
About Green Infrastructure Partners Inc.
Green Infrastructure Partners Inc., headquartered in Toronto, Ontario, was formed on its acquisition of GFL Infrastructure Group and Coco Paving and their respective affiliates. GIP is a leading provider of civil infrastructure services with 33 asphalt plants, eight concrete plants, access to over 250 aggregate sites, an asphalt cement terminal in Eastern Ontario and more than 3,000 employees across its operations.
About Critical One Energy Inc.
Critical One Energy Inc. is a Canadian critical minerals and upstream energy company focused on metals essential to energy, technology and national defence supply chains. The Company is advancing the Howells Lake Antimony-Gold Project, which provides Critical One with direct exposure to antimony, a critical mineral of increasing strategic importance to Western nations, as well as meaningful gold exploration potential across the property. Backed by seasoned management expertise, Critical One is positioned to advance high-value mineral projects aligned with the rising demand for secure supply of critical minerals. The Company also holds uranium and copper assets in Namibia, providing additional exposure to critical minerals and energy metals.
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/299131