Latest news with #CriticalOne
Globe and Mail
10-07-2025
- Business
- Globe and Mail
Critical One Provides Clarification Respecting Shareholder Meeting to be held on July 21, 2025
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES TORONTO, July 10, 2025 (GLOBE NEWSWIRE) -- Critical One Energy Inc. (formerly Madison Metals Inc.) (' Critical One ' or the ' Company ') (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF0) announces that the resolution to ratify the acts and proceedings of the board of directors (the ' Board ') and officers of the Company described in the Information Circular of the Company filed on SEDAR+ on June 30, 2025 (the ' Circular ') regarding the Annual General Meeting of the shareholders to be held on July 21, 2025, will not be put to the shareholders for approval. The resolution will be withdrawn at the meeting because the Circular does not adequately set forth all of the details related to the acts and proceedings of the Board and officers in sufficient detail for a shareholder to make an informed decision on the subject matter of the resolution. For clarity, management of the Company has determined that there are no acts or proceedings taken by the Board or the officers of the Company which require approval of the shareholders. This clarification to the Circular has been made at the request of OSC staff in connection with an OSC review of the disclosure record of the Company. 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 addition of the Howells Lake Antimony-Gold Project broadens the Company's exposure to antimony, one of the most in-demand critical minerals. 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 and on the Company's SEDAR+ profile at For further information, please contact: Duane Parnham Executive Chairman & CEO Critical One Energy Inc. +1 (416) 489-0092 ir@ Media inquiries: Adam Bello Manager, Media & Analyst Relations Primoris Group Inc. +1 (416) 489-0092 media@ 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.
Yahoo
12-06-2025
- Business
- Yahoo
Critical One Makes Strategic Uranium Asset Divestment
TORONTO, June 12, 2025 (GLOBE NEWSWIRE) -- Critical One Energy Inc. (formerly Madison Metals Inc.) ('Critical One' or the 'Company') (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF0) is pleased to announce that Dark Star Minerals Inc. ('Dark Star') (CSE: BATT) (FSE: P0W), a well-managed, uranium-focused, publicly-listed company, has entered into an acquisition agreement with Critical One to acquire 100% of its interests in the Khan and Cobra Uranium Projects, located in Namibia's highly prospective Erongo uranium province. 'Divesting the Company's uranium assets and focusing on the Howells Lake Antimony-Gold Project ('Howells Lake Project') enhances our shareholder value by strategically refining the Company's critical metals and minerals mission,' said Duane Parnham, Executive Chairman and CEO of Critical One. 'I believe this shift in our critical metals strategy aligns with global market trends driven by the energy transition, and will offer higher growth potential and improved returns. Howell Lake's antimony deposits allow us to capitalize on the rapidly growing demand for these critical metals. Plus, the project provides gold exploration upside in a period when the yellow metal's value is reaching all-time market highs.' Parnham added, 'By forming this alliance with Dark Star, our investment in uranium continues to have great potential. This divestiture allows Critical One to focus on its capital allocation on high-margin, high-demand critical minerals, thereby optimizing our portfolio for long-term profitability, reducing exposure to market risks, and strengthening our competitive position in a future-focused industry, ultimately driving sustainable value creation for shareholders.' Under the terms of the letters of intent agreement ('LOI'), Dark Star has the opportunity to acquire all of Critical One's interest in the Khan and Cobra Uranium Projects through staged cash payments and issuances of common shares to the Company over a two-year period. No fairness opinion or independent valuation of the uranium assets was sought by Critical One or Dark Star for this agreement. A summary of terms for the LOI is provided below, concurrently issued in the Dark Star news release dated June 12, 2025. Payment Date Cash Payment Amount Securities Issuance On the date of execution of this LOI (the 'LOI Execution Date') US$10,000 - Upon the later of: (a) the date that is five days of the LOI Execution Date; and (b) receipt of Exchange approval for the LOI - 200,000 common shares (each, a 'Share') of Dark Star Upon the execution of the Definitive Agreement (the 'Definitive Agreement Execution Date') US$150,000 14,000,000 Dark Star Shares On or before the date that is four (4) months from the Definitive Agreement Execution Date US$100,000 - On or before first anniversary of the Definitive Agreement Execution Date US$250,000 US$1,000,000 in Dark Star Shares On or before second anniversary of the Definitive Agreement Execution Date US$250,000 US$750,000 in Dark Star Shares Total: US$760,000 Once the staged cash and share issuances reach a combined value above US$3.5 million (as outlined in the table), Critical One will be granted a 2% gross overriding royalty on all metals produced from the two uranium projects. Upon signing of the LOI, Critical One received US$10,000 in cash and was issued 200,000 common shares of Dark Star, priced at CDN$0.075 at close of business on June 11, 2025. This will be followed by subsequent cash and common share payments in accordance with a definitive agreement to be signed within 60 days. The definitive agreement will be subject to the approval of the usual regulatory approvals. 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 addition of the Howells Lake Antimony-Gold Project broadens the Company's exposure to antimony, one of the most in-demand critical minerals. 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 and on the Company's SEDAR+ profile at For further information, please contact: Duane ParnhamExecutive Chairman & CEOCritical One Energy Inc. +1 (416) 489-0092ir@ Media inquiries: Adam BelloManager, Media & Analyst RelationsPrimoris Group Inc.+1 (416) 489-0092media@ 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 terms and timing of the private placement described in this press release and the anticipated uses of the proceeds raised from such private placement. 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 receive all necessary approval required in order to complete the issuance of the securities pursuant to the private placement described in in this press release; and that there will be sufficient interest from potential investors in order to complete the private placement on the terms as described herein or at all. 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, the risk that the Company will not be able to proceed with the issuance of units on the terms described in this press release or at all. 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 in to access your portfolio
Business Upturn
14-05-2025
- Business
- Business Upturn
Critical One Discovers High-Grade Antimony Intervals in Howells Lake Project Historical Data
By GlobeNewswire Published on May 14, 2025, 23:52 IST TORONTO, May 14, 2025 (GLOBE NEWSWIRE) — Critical One Energy Inc. (formerly Madison Metals Inc.) ('Critical One' or the 'Company') (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF0) is pleased to announce that the Company has discovered significant antimony, including an interval in drill hole MC-V3-79-22 that assayed up to 75% antimony within core internal of 5.37% antimony over 8.35 metres, as well as gold assays in the extensive collection of historical records of the Howells Lake Antimony-Gold Project ('Howells Lake Project') announced in its May 1, 2025 press release. The newly recovered reports and datasets clearly indicate that the historic exploration programs carried out in the project area from 1979 to 1984 focused on base metals and gold, and that the discovery of high-grade antimony mineralization in the V-3 grid area at the West and East zones was fortuitous. The extension of the antimony mineralized zones and various areas of gold mineralization remain open for further expansion both along strike and down-dip. Numerous other targets for both antimony and gold have been documented elsewhere outside the V-3 grid area on Critical One's extensive landholdings (Figures 1 and 2). Photo: Historic drill core containing pure stibnite (antimony), Howells Lake Project. Figure 1: Howells Lake Project property map. Information Highlights From the New Dataset: High-grade antimony was first discovered in the project area in drill hole MW-79-2 in an intersection grading 6.17 grams per tonne gold and 1.57% antimony over a core interval of 6.31 metres*. This area of mineralization is recorded as the West zone in reports (Figure 2). Reported as the East zone discovery, antimony was intersected along an interval of 216 metres in a number of core holes. With the mineralization extrapolated to a depth of 304 metres, the zone of stibnite (antimony) was interpreted to contain 1,700,000 tons (1,543,000 tonnes) of mineralization at a grade of 1.4% antimony (*see historical information disclosure below) (Figure 2). Highlighted Drill Intersections Include: Hole Interval Core Length Assays MW-79-2 17.16-23.47m 6.31m 6.17 g/t gold, 1.57% antimony MC-V3-79-3 21.37-26.92m 5.58m 0.71 g/t gold, 3.33% antimony MC-V3-7-11 80.49-86.28m 5.79m 1.14% antimony MC-V3-79-18 39.94-50.61m 10.67m 2.01% antimony MC-V3-79-22 52.74-61.25m 8.35m 5.37% antimony MC-V3-79-25 78.96-103.65m 24.7m 0.955% antimony High-grade antimony and gold mineralization was discovered in surface samples approximately 2.5 kilometres (km) to the northeast of the drill hole MW-79-2 antimony-gold discovery, with assays reported as high as 59.2% antimony and 14.19 grams per ton gold* . Antimony in the form of stibnite was noted on various maps, and in some of the reports, is indicated to be known to occur over at least 5.0 km. In this overburden-dominated area, there is excellent potential to find other antimony-rich or gold-rich areas of mineralization. Geophysics, geology, notes and assay data show the presence of antimony mineralization over a total distance along a major alteration and deformation zone of more than 5.0 km, with the favourable geological units extending much further. At the time of the work in the 1970s, antimony was valued at less than US$1.50 per pound and of little interest. It was merely noted as part of the alteration package as the owner at the time, New Jersey Zinc, searched for significant gold mineralization. Antimony is currently valued at more than US$25.00 per pound. New Jersey Zinc is reported to have spent approximately US$4 million searching for significant gold or base metal mineralization in the 1980s in the Howells Lake area, which is now almost entirely controlled by Critical One. At that time, the price of gold was also much lower, at approximately US$459.00 per ounce. 'The timing of our acquisition of the land packages that comprise the Howells Lake Project could not have been better, and the project is turning out to be even more compelling than we initially thought,' said Duane Parnham, Executive Chairman and CEO of Critical One. 'With Western governments frantically looking to fast track critical mineral projects that are of vital importance, the antimony deposits at Howells Lake are a perfect fit for early development given its fundamentals, the critical need for antimony in North America and the fact that the project is south of the Ring of Fire, an area that is attracting a lot of government attention for critical mineral mining infrastructure development. With renewed government support for critical minerals project development, and armed with previous knowledge that is now combined with all this historic data, we are ready to get personnel on the property to start defining antimony and gold mineralization as soon as conditions permit.' Figure 2: Antimony zones at Howells Lake Project. Assay data recovered, while incomplete (and historical in nature), is for the 1979 drilling program only. While other gold-focused core drilling programs are covered in the summary reports, little or no information is mentioned relating to the amount or distribution of antimony or gold mineralization encountered in the later programs. Critical One notes that in the period from 1984 to the present, no other company has held the entire land position that the Company now holds in the Howells Lake area, and no entity has mounted a significant exploration effort on the property in the past 40 years. Further, no exploration drilling programs have been carried out on the property focusing on defining antimony mineralization. The antimony and gold mineralization occurs in broad zones of strong shearing, carbonate and sericite alteration that includes green mica. Other associates are pyrite, quartz veining arsenopyrite, chalcopyrite and sphalerite. The Company is continuing to search for additional historic data relating to the historic work on the extensive Howells Lake property position that covers 13,990.90 hectares. The Howells Lake Antimony Gold Project ('Howells Lake Project') is located east of Pickle Lake, Ontario, in the Miminiska Lake area in the Thunder Bay Mining Division of Ontario, Canada. The acquisition of 100% interest in the Howells Lake Project was completed in January 2025 (January 13, 2025 press release). * Note: All geological and assay information contained in this document is historical in nature and the Qualified Person responsible for the technical disclosure in this release is unable to determine if that data would meet current NI 43-101 regulations regarding disclosure of scientific and technical information for mineral exploration properties. Drill intersections are reported as downhole intervals. No true width could be determined. The information in the recovered data is considered of value and deemed to be very relevant to the Company's project. 1 Themistocleous, S.G., 1980. Miminiska Lake Project Northwestern Ontario Geological Report, New Jersey Zinc Exploration Company (Canada) Ltd. and MIMINISKA LAKE PROJECT Northwestern Ontario Geological Report NTS52/P Qualified Person Bruce Durham, a qualified person under NI 43-101, independent to the Company, has reviewed and approved the technical content of this news release as it pertains to the Howells Lake Project. About Critical One 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 addition of the Howells Lake antimony gold project broadens the Company's exposure to antimony, one of the most in-demand critical minerals. 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 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 and on the Company's SEDAR+ profile at For further information, please contact: Duane Parnham Executive Chairman & CEO Critical One Energy Inc. +1 (416) 489-0092 [email protected] Media inquiries: Adam Bello Manager, Media & Analyst Relations Primoris Group Inc.+1 (416) 489-0092 [email protected] 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 Canadian securities legislation. Such forward-looking statements concern the Company's strategic plans, and completion of the proposed transaction described herein. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. The actual results could differ materially from those anticipated in this forward-looking information as a result of certain risk factors. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law. Photos accompanying this announcement are available at: Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Globe and Mail
14-05-2025
- Business
- Globe and Mail
Critical One Discovers High-Grade Antimony Intervals in Howells Lake Project Historical Data
TORONTO, May 14, 2025 (GLOBE NEWSWIRE) -- Critical One Energy Inc. (formerly Madison Metals Inc.) (' Critical One ' or the ' Company ') (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF0) is pleased to announce that the Company has discovered significant antimony, including an interval in drill hole MC-V3-79-22 that assayed up to 75% antimony within core internal of 5.37% antimony over 8.35 metres, as well as gold assays in the extensive collection of historical records of the Howells Lake Antimony-Gold Project ('Howells Lake Project') announced in its May 1, 2025 press release. The newly recovered reports and datasets clearly indicate that the historic exploration programs carried out in the project area from 1979 to 1984 focused on base metals and gold, and that the discovery of high-grade antimony mineralization in the V-3 grid area at the West and East zones was fortuitous. The extension of the antimony mineralized zones and various areas of gold mineralization remain open for further expansion both along strike and down-dip. Numerous other targets for both antimony and gold have been documented elsewhere outside the V-3 grid area on Critical One's extensive landholdings (Figures 1 and 2). Photo: Historic drill core containing pure stibnite (antimony), Howells Lake Project. Figure 1: Howells Lake Project property map. Information Highlights From the New Dataset: High-grade antimony was first discovered in the project area in drill hole MW-79-2 in an intersection grading 6.17 grams per tonne gold and 1.57% antimony over a core interval of 6.31 metres*. This area of mineralization is recorded as the West zone in reports (Figure 2). Reported as the East zone discovery, antimony was intersected along an interval of 216 metres in a number of core holes. With the mineralization extrapolated to a depth of 304 metres, the zone of stibnite (antimony) was interpreted to contain 1,700,000 tons (1,543,000 tonnes) of mineralization at a grade of 1.4% antimony (*see historical information disclosure below) (Figure 2). Highlighted Drill Intersections Include: High-grade antimony and gold mineralization was discovered in surface samples approximately 2.5 kilometres (km) to the northeast of the drill hole MW-79-2 antimony-gold discovery, with assays reported as high as 59.2% antimony and 14.19 grams per ton gold*. Antimony in the form of stibnite was noted on various maps, and in some of the reports, is indicated to be known to occur over at least 5.0 km. In this overburden-dominated area, there is excellent potential to find other antimony-rich or gold-rich areas of mineralization. Geophysics, geology, notes and assay data show the presence of antimony mineralization over a total distance along a major alteration and deformation zone of more than 5.0 km, with the favourable geological units extending much further. At the time of the work in the 1970s, antimony was valued at less than US$1.50 per pound and of little interest. It was merely noted as part of the alteration package as the owner at the time, New Jersey Zinc, searched for significant gold mineralization. Antimony is currently valued at more than US$25.00 per pound. New Jersey Zinc is reported to have spent approximately US$4 million searching for significant gold or base metal mineralization in the 1980s in the Howells Lake area, which is now almost entirely controlled by Critical One. At that time, the price of gold was also much lower, at approximately US$459.00 per ounce. 'The timing of our acquisition of the land packages that comprise the Howells Lake Project could not have been better, and the project is turning out to be even more compelling than we initially thought,' said Duane Parnham, Executive Chairman and CEO of Critical One. 'With Western governments frantically looking to fast track critical mineral projects that are of vital importance, the antimony deposits at Howells Lake are a perfect fit for early development given its fundamentals, the critical need for antimony in North America and the fact that the project is south of the Ring of Fire, an area that is attracting a lot of government attention for critical mineral mining infrastructure development. With renewed government support for critical minerals project development, and armed with previous knowledge that is now combined with all this historic data, we are ready to get personnel on the property to start defining antimony and gold mineralization as soon as conditions permit.' Figure 2: Antimony zones at Howells Lake Project. Assay data recovered, while incomplete (and historical in nature), is for the 1979 drilling program only. While other gold-focused core drilling programs are covered in the summary reports, little or no information is mentioned relating to the amount or distribution of antimony or gold mineralization encountered in the later programs. Critical One notes that in the period from 1984 to the present, no other company has held the entire land position that the Company now holds in the Howells Lake area, and no entity has mounted a significant exploration effort on the property in the past 40 years. Further, no exploration drilling programs have been carried out on the property focusing on defining antimony mineralization. The antimony and gold mineralization occurs in broad zones of strong shearing, carbonate and sericite alteration that includes green mica. Other associates are pyrite, quartz veining arsenopyrite, chalcopyrite and sphalerite. The Company is continuing to search for additional historic data relating to the historic work on the extensive Howells Lake property position that covers 13,990.90 hectares. The Howells Lake Antimony Gold Project (' Howells Lake Project ') is located east of Pickle Lake, Ontario, in the Miminiska Lake area in the Thunder Bay Mining Division of Ontario, Canada. The acquisition of 100% interest in the Howells Lake Project was completed in January 2025 (January 13, 2025 press release). * Note: All geological and assay information contained in this document is historical in nature and the Qualified Person responsible for the technical disclosure in this release is unable to determine if that data would meet current NI 43-101 regulations regarding disclosure of scientific and technical information for mineral exploration properties. Drill intersections are reported as downhole intervals. No true width could be determined. The information in the recovered data is considered of value and deemed to be very relevant to the Company's project. 1 Themistocleous, S.G., 1980. Miminiska Lake Project Northwestern Ontario Geological Report, New Jersey Zinc Exploration Company (Canada) Ltd. and MIMINISKA LAKE PROJECT Northwestern Ontario Geological Report NTS52/P Qualified Person Bruce Durham, a qualified person under NI 43-101, independent to the Company, has reviewed and approved the technical content of this news release as it pertains to the Howells Lake Project. About Critical One 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 addition of the Howells Lake antimony gold project broadens the Company's exposure to antimony, one of the most in-demand critical minerals. 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 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 and on the Company's SEDAR+ profile at For further information, please contact: Duane Parnham Executive Chairman & CEO Critical One Energy Inc. +1 (416) 489-0092 ir@ Media inquiries: Adam Bello Manager, Media & Analyst Relations Primoris Group Inc. +1 (416) 489-0092 media@ 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 Canadian securities legislation. Such forward-looking statements concern the Company's strategic plans, and completion of the proposed transaction described herein. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. The actual results could differ materially from those anticipated in this forward-looking information as a result of certain risk factors. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law. Photos accompanying this announcement are available at:
Yahoo
14-05-2025
- Business
- Yahoo
Critical One Discovers High-Grade Antimony Intervals in Howells Lake Project Historical Data
TORONTO, May 14, 2025 (GLOBE NEWSWIRE) -- Critical One Energy Inc. (formerly Madison Metals Inc.) ('Critical One' or the 'Company') (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF0) is pleased to announce that the Company has discovered significant antimony, including an interval in drill hole MC-V3-79-22 that assayed up to 75% antimony within core internal of 5.37% antimony over 8.35 metres, as well as gold assays in the extensive collection of historical records of the Howells Lake Antimony-Gold Project ('Howells Lake Project') announced in its May 1, 2025 press release. The newly recovered reports and datasets clearly indicate that the historic exploration programs carried out in the project area from 1979 to 1984 focused on base metals and gold, and that the discovery of high-grade antimony mineralization in the V-3 grid area at the West and East zones was fortuitous. The extension of the antimony mineralized zones and various areas of gold mineralization remain open for further expansion both along strike and down-dip. Numerous other targets for both antimony and gold have been documented elsewhere outside the V-3 grid area on Critical One's extensive landholdings (Figures 1 and 2).Photo: Historic drill core containing pure stibnite (antimony), Howells Lake 1: Howells Lake Project property map. Information Highlights From the New Dataset: High-grade antimony was first discovered in the project area in drill hole MW-79-2 in an intersection grading 6.17 grams per tonne gold and 1.57% antimony over a core interval of 6.31 metres*. This area of mineralization is recorded as the West zone in reports (Figure 2). Reported as the East zone discovery, antimony was intersected along an interval of 216 metres in a number of core holes. With the mineralization extrapolated to a depth of 304 metres, the zone of stibnite (antimony) was interpreted to contain 1,700,000 tons (1,543,000 tonnes) of mineralization at a grade of 1.4% antimony (*see historical information disclosure below) (Figure 2). Highlighted Drill Intersections Include: Hole Interval Core Length Assays MW-79-2 17.16-23.47m 6.31m 6.17 g/t gold, 1.57% antimony MC-V3-79-3 21.37-26.92m 5.58m 0.71 g/t gold, 3.33% antimony MC-V3-7-11 80.49-86.28m 5.79m 1.14% antimony MC-V3-79-18 39.94-50.61m 10.67m 2.01% antimony MC-V3-79-22 52.74-61.25m 8.35m 5.37% antimony MC-V3-79-25 78.96-103.65m 24.7m 0.955% antimony High-grade antimony and gold mineralization was discovered in surface samples approximately 2.5 kilometres (km) to the northeast of the drill hole MW-79-2 antimony-gold discovery, with assays reported as high as 59.2% antimony and 14.19 grams per ton gold*. Antimony in the form of stibnite was noted on various maps, and in some of the reports, is indicated to be known to occur over at least 5.0 km. In this overburden-dominated area, there is excellent potential to find other antimony-rich or gold-rich areas of mineralization. Geophysics, geology, notes and assay data show the presence of antimony mineralization over a total distance along a major alteration and deformation zone of more than 5.0 km, with the favourable geological units extending much further. At the time of the work in the 1970s, antimony was valued at less than US$1.50 per pound and of little interest. It was merely noted as part of the alteration package as the owner at the time, New Jersey Zinc, searched for significant gold mineralization. Antimony is currently valued at more than US$25.00 per pound. New Jersey Zinc is reported to have spent approximately US$4 million searching for significant gold or base metal mineralization in the 1980s in the Howells Lake area, which is now almost entirely controlled by Critical One. At that time, the price of gold was also much lower, at approximately US$459.00 per ounce. 'The timing of our acquisition of the land packages that comprise the Howells Lake Project could not have been better, and the project is turning out to be even more compelling than we initially thought,' said Duane Parnham, Executive Chairman and CEO of Critical One. 'With Western governments frantically looking to fast track critical mineral projects that are of vital importance, the antimony deposits at Howells Lake are a perfect fit for early development given its fundamentals, the critical need for antimony in North America and the fact that the project is south of the Ring of Fire, an area that is attracting a lot of government attention for critical mineral mining infrastructure development. With renewed government support for critical minerals project development, and armed with previous knowledge that is now combined with all this historic data, we are ready to get personnel on the property to start defining antimony and gold mineralization as soon as conditions permit.'Figure 2: Antimony zones at Howells Lake Project. Assay data recovered, while incomplete (and historical in nature), is for the 1979 drilling program only. While other gold-focused core drilling programs are covered in the summary reports, little or no information is mentioned relating to the amount or distribution of antimony or gold mineralization encountered in the later programs. Critical One notes that in the period from 1984 to the present, no other company has held the entire land position that the Company now holds in the Howells Lake area, and no entity has mounted a significant exploration effort on the property in the past 40 years. Further, no exploration drilling programs have been carried out on the property focusing on defining antimony mineralization. The antimony and gold mineralization occurs in broad zones of strong shearing, carbonate and sericite alteration that includes green mica. Other associates are pyrite, quartz veining arsenopyrite, chalcopyrite and sphalerite. The Company is continuing to search for additional historic data relating to the historic work on the extensive Howells Lake property position that covers 13,990.90 hectares. The Howells Lake Antimony Gold Project ('Howells Lake Project') is located east of Pickle Lake, Ontario, in the Miminiska Lake area in the Thunder Bay Mining Division of Ontario, Canada. The acquisition of 100% interest in the Howells Lake Project was completed in January 2025 (January 13, 2025 press release). *Note: All geological and assay information contained in this document is historical in nature and the Qualified Person responsible for the technical disclosure in this release is unable to determine if that data would meet current NI 43-101 regulations regarding disclosure of scientific and technical information for mineral exploration properties. Drill intersections are reported as downhole intervals. No true width could be determined. The information in the recovered data is considered of value and deemed to be very relevant to the Company's project. 1 Themistocleous, S.G., 1980. Miminiska Lake Project Northwestern Ontario Geological Report, New Jersey Zinc Exploration Company (Canada) Ltd. and MIMINISKA LAKE PROJECT Northwestern Ontario Geological Report NTS52/P Qualified Person Bruce Durham, a qualified person under NI 43-101, independent to the Company, has reviewed and approved the technical content of this news release as it pertains to the Howells Lake Project. About Critical One 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 addition of the Howells Lake antimony gold project broadens the Company's exposure to antimony, one of the most in-demand critical minerals. 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 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 and on the Company's SEDAR+ profile at For further information, please contact: Duane ParnhamExecutive Chairman & CEOCritical One Energy Inc. +1 (416) 489-0092ir@ Media inquiries: Adam BelloManager, Media & Analyst RelationsPrimoris Group Inc.+1 (416) 489-0092media@ 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 Canadian securities legislation. Such forward-looking statements concern the Company's strategic plans, and completion of the proposed transaction described herein. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. The actual results could differ materially from those anticipated in this forward-looking information as a result of certain risk factors. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law. Photos accompanying this announcement are available at: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
