Toronto, ON – August 20, 2026 – Critical One Energy Inc. (“Critical One” or the “Company”) (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF) is pleased to announce that new assay results have identified additional near-surface antimony (“Sb”) mineralization, confirming the Northeast extension of a high-grade antimony zone, and discovered gold (“Au”) mineralization at its flagship Howells Lake Antimony-Gold Project (“Howells Lake Project”), located in the Thunder Bay Mining Division and approximately 120 kilometres west of the Ring of Fire access corridor in northwestern Ontario, Canada.

Hole HWL-2026-016 returned more high-grade antimony, extending the footprint approximately 70 metres northeast of HWL-2026-006 and HWL-2026-007 (per news releases issued on May 15, 2026 and July 7, 2026) and add substantially greater mineralized core length at direct ship antimony grades. Together with additional near-surface antimony and the new gold discovery, the results improve on the historical geological picture and add important modern data toward the Company’s objective of defining a current mineral resource.

Highlights

• High-grade antimony: Drillhole HWL-2026-016 returned 31.5 metres (“m”) grading 4.9% antimony (“Sb”), including 4.0 m at 21.2% Sb, and a separate interval of 13.9 m grading 6.6% Sb, including 1.0 m at 36.9% Sb. 
• Near-surface antimony: HWL-2026-003 returned 6.0 m grading 2.9% Sb, including 1.5 m at 6.5% Sb, from 62 m downhole. HWL-2026-005 returned 1.7 m grading 7.0% Sb from approximately 72 m downhole, while HWL-2026-004 intersected multiple additional near-surface antimony intervals.
• Proximal gold mineralization: HWL-2026-016 returned 17.0 m grading 1.3 g/t gold (“Au”), including 3.0 m at 2.0 g/t Au, below the principal antimony intervals, with additional gold occurring in partial overlap with the lower portion of the 31.5 m Sb interval. More than 200 m to the west, HWL-2026-011 returned 12.0 m grading 1.3 g/t Au, including 1.0 m at 9.1 g/t Au, with additional gold intersected in Holes 8 and 12.

“The grade profile and continuity of high-grade, near-surface antimony continue to validate management’s confidence in the Howells Lake Project and further support our potential direct-shipping scenario. The bonus is that this new high-grade gold discovery adds another potential source of financial value to the deposit,” said Duane Parnham, Executive Chairman and CEO of Critical One Energy. “This year’s drilling has moved us beyond the historical data and closer to defining a current mineral resource that could establish Howells Lake as a meaningful North American source of antimony.”

Table 1. Length-Weighted Antimony Assay Results

Reported intervals represent core lengths; true widths have not been estimated due to insufficient geological information. All individual samples included in weighted intercept averages are greater than 0.1% Sb and range from 0.3 m to 1.1 m in length.

Table 2. Length-Weighted Gold Assay Results

Reported intervals represent core lengths; true widths have not been estimated due to insufficient geological information. All individual samples included in weighted intercept averages are greater than 0.1 g/t Au and range from 0.3 m to 1.1 m in length.

Next Steps

Drilling at Howells Lake will continue northeast and down-dip along the interpreted high-grade antimony structure, which dips approximately 55° northeast and remains open for follow-up drilling. To the west, drilling will continue to test gold-bearing graphitic volcano-sedimentary horizons and altered mafic tuffs.

The current drill program is designed to establish geometry, true widths, grade distribution and continuity, while increasing drill density to provide the data required for potential future resource modelling.

QA/QC and Sampling Procedures

Samples of NQ diamond drill core were sawed at Critical One Energy's operations base in Thunder Bay, Ontario. One-half of the core was retained for reference, and one-half was added to sample bags. Blanks of barren diabase rock, antimony-gold standards, and duplicates were inserted every 20 samples. Laboratory "Barren Wash" was completed during crushing and pulverizing, and additional blanks were inserted after visible high-grade antimony and/or visible gold. Samples, standards, and blanks were bagged, tagged, and delivered to AGAT Laboratories in Thunder Bay, Ontario, where samples are crushed and prepared for analysis in Calgary, Alberta. Antimony and 30 additional elements were analyzed by sodium peroxide fusion and ICP-OES finish (201-079). Overlimit antimony analyses (>5% Sb) were reanalyzed by ALS Vancouver via sodium peroxide fusion XRF (ME-XRF15c). AGAT and ALS Laboratories are internationally accredited laboratories. 

Qualified Person

The scientific and technical information in this news release has been reviewed, verified, and approved by Matthew Trenkler, P.Geo., Chief Geological Officer of Critical One Energy Inc., a "Qualified Person," as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Verification included a review of laboratory assay certificates, drill logs, chain-of-custody records, blank/standard/duplicate statistics, and review of collar and down-hole survey data. No QA/QC failures were identified.

About Critical One Energy Inc.

Critical One Energy Inc. is a critical minerals exploration company dedicated to advancing its flagship Howells Lake Antimony-Gold Project as a new North American source of antimony for defence, energy storage, advanced technologies and industrial applications. The Howells Lake Antimony-Gold Project, located in Ontario, Canada, hosts high-grade antimony mineralization confirmed through a modern drilling program. The Company’s objective is to advance Howells Lake as a potential Canadian source of antimony and help reduce North America’s dependence on foreign supply.

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.