Critical One divests uranium interests to focus on antimony-gold

Toronto's Critical One Energy (formerly Madison Metals Inc.) (CSE: CRTL; OTCQB: MMTLF) announced that Dark Star Minerals – a 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.

Critical One Energy entered into this agreement with Dark Star to divest its uranium assets in Namibia, allowing it to focus on the Howells Lake Antimony-gold project. This strategic shift aims to enhance shareholder value by focusing on high-demand critical minerals. Critical One controls North America's largest undeveloped antimony-gold asset amid a global supply crisis.

The company specializes in mine exploration, with a focus on antimony in Canada and uranium in Namibia, Africa, leveraging its technical, managerial, and financial expertise to create high-value projects and generate cash flow through joint ventures.

Duane Parnham, executive chairman and CEO of Critical One, said: “Divesting the company’s uranium assets and focusing on the Howells Lake antimony-gold project enhances our shareholder value by strategically refining the company’s critical metals and minerals mission. 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.”

Additional information about Critical One Energy can be found at www.CriticalOneEnergy.com.