Six reasons investors are watching Critical One now

A critical minerals exploration company with one flagship project, Howells Lake in Ontario, and one job: take its antimony from the ground to a buyer.

Listed on the CSE as CRTL, on the OTCQB as CTLOF and on the Frankfurt Stock Exchange as 4EF. Head office in Toronto.

Rare grade: pure stibnite is 71.7% antimony, and two holes at Howells Lake read 70.2% and 70.3%, near surface, with a wider antimony zone around them and gold beneath.

A partnered route to market: a strategic capital partner that is also the buyer, a developer building the Ontario plant we part-own, and a construction financing plan, all before the first resource estimate.

A tight field: few public antimony names exist, the U.S. imports almost all of the antimony it uses, and China's pause on its U.S. export ban expires on November 27, 2026.

Exploration stage. No mineral resource has been estimated, and future production is not guaranteed.

The 2026 program had drilled 34 holes and 8,342 meters by August 1, 2026; the September 29 update reported 15 of 28 numbered holes with 13 at the lab. Micon International's NI 43-101 report concluded the modern data is the foundation for continued exploration and resource modelling toward an initial mineral resource estimate for the East Zone, which drilling is building toward.

Cash of C$11.0 million at May 31, 2026, with working capital of C$10.0 million. The C$9.4 million, 20,000 m program Micon recommended is fully funded, including C$6.7 million of flow-through raised in July and August 2026. No debt.

70.3 million shares outstanding and 86.3 million fully diluted as of August 14, 2026. Founders, management and advisers hold 27.3%; institutions 22.6%; retail 50.1%.

The SICC placement adds 12.5 million shares at C$1.20, a 48% premium to market, with no warrants and a 12-month lock-up: 82.8 million basic shares, SICC at 15.1%.

Three things, before the first resource estimate: C$15 million into the treasury from an institutional partner paying 48% above market; a carried equity interest in the Ontario processing plant Northlink is developing, funded by SICC's C$10 million commitment, with a share of the plant's profits and none of its construction cost; and a buyer, SICC, with the exclusive right to purchase up to 150 million pounds of future antimony production at international benchmark prices.

Behind those, a mine construction financing plan of up to C$400 million, drawn once the studies, permits and approvals that precede a construction decision are complete.

It also changes how the project is built. The buyer's product specifications shape the processing route, and knowing the funding route this early means the project and its capital are planned together.

Howells Lake is in the homelands of Eabametoong First Nation, in Ontario's Thunder Bay Mining Division, about 120 km west of the Ring of Fire access corridor. The exploration permit and an Ontario Junior Exploration Program grant are in hand, and an exploration agreement with EFN was signed in March 2026. EFN participates in the development process as technical work advances.

Chief Solomon Atlookan, October 29, 2026: "We have begun a relationship with Duane and Critical One on respectful terms and will continue to be guided by our land users and stewards of the land."

There are two ways to reach the rail: a ~90 km road to Pickle Lake, with Green Infrastructure Partners on the planning, or the Ogoki Road north from Nakina on the CN main line. Ontario has committed C$1 billion to regional roads.

In order: assays on 13 holes as they are received; five HQ metallurgical holes and the lab and pilot test work on that material; an initial mineral resource estimate for the East Zone. November 27, 2026 is the day China's pause on its U.S. export ban expires.

Each result reaches our list the day it is public. For questions or a call with management, email ir@criticaloneenergy.com.