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.

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.

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