Toronto, Ontario--(Newsfile Corp. - April 8, 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 that the first diamond drill hole at its flagship Howells Lake Antimony-Gold Project ("Howells Lake Project") has confirmed broad near-surface antimony mineralization with multiple zones of visible stibnite across approximately 100 metres of core length. Phase 1 drill program has commenced at the historic Howells Lake East Antimony Zone, located in the Thunder Bay Mining Division of northwestern Ontario, approximately 120 kilometres west of the Ring of Fire access corridor.

Highlights:

• First hole of the Phase I diamond drill program (HWL-2026-001) completed to a depth of 201 metres, the first modern drilling since the original discovery in 1979

• Visual inspection confirms broad near-surface mineralization with multiple zones of stibnite (Sb₂S₃) mineralization and strong alteration within the first 100 metres, starting at just 24 metres downhole

• Disseminated to semi-massive stibnite stringers observed along rock foliation and in brecciated quartz-carbonate veins within chlorite-fuchsite altered feldspar porphyry and proximal lithologies, consistent with the Company's geological model for the East Zone

• Pyrite-pyrrhotite-sphalerite sulphide mineralization also observed disseminated throughout the drill hole, indicating a broader sulphide-bearing system

• Core logging, photography, cutting, and sampling underway; samples submitted to AGAT Laboratories in Thunder Bay for processing and analysis. Results will be reported once received

"We put our first hole into a deposit that hasn't been drilled in over 45 years, and the system delivered visible antimony mineralization from near surface, right where we expected it," said Duane Parnham, Founder, Executive Chairman and CEO of Critical One. "This is the first of approximately a dozen planned holes and we are off to a strong start. At a time when antimony is critical to military and defence supply chains and trading at levels that didn't exist when first discovered, we have a full program ahead of us and we look forward to reporting assays and further results as they become available."

Drill Hole Observations

Visual logging of HWL-2026-001 has confirmed broad antimony mineralization, alteration, and veining within the first approximately 100 meters. Stibnite occurs as disseminated to semi-massive stringers along rock foliation and in brecciated quartz-carbonate veins within chlorite-fuchsite altered feldspar porphyry and proximal lithologies, the same host lithology and mineralization style documented in the original 1979 discovery work. The drill hole was oriented to intersect the East Zone target; the relationship between core length and true width will be confirmed as additional holes and survey data become available.

The following intervals are highlighted as representative of the stibnite zones within the broader 100-metre mineralized envelope:

• 24.0 m to 26.5 m (2.5 m core length): Semi-massive stibnite in stringers along quartz vein boundaries with patches up to 4 cm diameter within a zone of chlorite-fuchsite alteration, quartz veining, an estimated 3-10% stibnite, and minor pyrite-pyrrhotite (Figure 1A).

• 35.0 m to 37.0 m (2.0 m core length): Disseminated stibnite up to an estimated 6% locally concentrated along foliation in chlorite-altered feldspar porphyry within a wider zone of an estimated 2% stibnite (Figure 1B).

• 75.0 m to 78.0 m (3.0 m core length): An estimated 1-5% stibnite with the highest concentrations associated with 5-15 cm quartz-carbonate veins (Figure 2).

These observations are based on visual logging only and remain subject to assay confirmation. Samples have been submitted to AGAT Laboratories in Thunder Bay for processing and analysis.

Figure 1. (A) Semi-massive stibnite mineralization in stringers along quartz boundaries and local centimetre-scale patches within a zone of chlorite-fuchsite alteration and quartz veining from 24.0 metres to 26.5 metres core length. NQ core diameter of 4.7 cm shown for scale. (B) Disseminated stibnite concentrated locally along foliation in chlorite-altered feldspar porphyry from 35.0 metres to 37.0 metres core length.

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Figure 2. Semi-massive stibnite within quartz-carbonate veins in chlorite-altered feldspar porphyry. Veins shown occur within a zone of disseminated pyrite-pyrrhotite from 75m to 78m down hole.

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Phase I Program

The Phase I program is designed to confirm and expand the historic high-grade antimony-gold zones at Howells Lake. Drilling will continue in the vicinity of the East Zone before advancing to the West antimony-gold zone, where historical drilling reportedly returned higher gold grades in addition to antimony.

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 per tonne 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.

*Note: Historic geological and assay information contained in this document requires verification 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 historical data cannot be verified by the QP. Visual identification of mineralization without assays does not guarantee grades. Assays must be reported to confirm the presence and grade of antimony and/or gold.

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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