Critical One Energy

What Critical One Energy does

Critical One Energy Inc. (CSE: CRTL; OTCQB: MMTLF; FSE: 4EF0) is a Canadian publicly-traded mining exploration company headquartered in Toronto that is focused on critical minerals, primarily antimony and gold. The company was formed through the December 2024 rebranding of Madison Metals Inc. Its flagship asset is the Howells Lake Antimony-Gold Project in the Thunder Bay Mining District of northwestern Ontario, approximately 120 km west of the Ring of Fire corridor, covering 24,887 hectares across 697 claims under a single operator with approximately 30 km of priority antimony-gold targets. A secondary KCR Gold Project in Ontario (acquired September 2025) and uranium/copper assets in Namibia's Erongo province round out the portfolio. The company's underlying technical approach combines VTEM airborne magnetic and electromagnetic geophysical surveys, NQ diamond core drilling, and accredited assay analysis at AGAT Laboratories (sodium peroxide fusion with ICP-OES finish, WDXRF overlimit, and fire assay for gold).

The business is pre-revenue: there are no current sales, production, or operating revenue streams. Critical One funds exploration activities through repeated equity private placements (CDN$10M+ raised across 2025 rounds, including a CDN$7.65M flow-through placement in October 2025) and through government grants such as the Ontario Junior Exploration Program. Phase I drilling commenced in March 2026, with 18 holes totaling approximately 4,000 m completed by June 2026, including Hole 6 which returned 4.0 m grading 70.2% Sb within 8.0 m grading 42.2% Sb — near-pure stibnite that ranks among the highest-grade antimony intercepts in North America. The go-to-market motion is enterprise-style: the company is positioning Howells Lake as a potential direct-shipping-ore source for North American defense agencies, military buyers, and industrial/technology manufacturers seeking a domestic alternative to Chinese-dominated antimony supply, leveraging the advisory appointment of retired U.S. Army General Charles Flynn and a strategic MOU with Green Infrastructure Partners Inc. for civil works and workforce training.

Name

Critical One Energy

Legal name

Critical One Energy Inc.

Website

https://criticaloneenergy.com

Company type

Public

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

Critical One Energy is a Canadian publicly-traded mining exploration company advancing the district-scale Howells Lake Antimony-Gold Project in Ontario, positioning it as a potential North American antimony source for defense, industrial, and government buyers.

Ownership category

akta.pro rank

Product category

Mineral Exploration

NAICS

Mining (except Oil and Gas) (212), Copper, Nickel, Lead, and Zinc Mining (212230)

SIC

Metal Mining (1000), Gold And Silver Ores (1040)

akta.pro primary industry

Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

akta.pro secondary industries

Mine Development & Processing EPC (Critical Minerals) (IMAKAFAM), Critical Minerals Trading, Offtake & Marketing (IMAKAFAJ)

Keywords

• Antimony exploration
• Critical minerals mining
• Gold exploration
• Mineral exploration
• Uranium exploration

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Technology or R&D, Personnel, Others

Revenue model

1. Pre-revenue exploration stage: Critical One Energy is a pre-revenue mining exploration company. It has no current sales, production, or operating revenue. The company is advancing the Howells Lake Antimony-Gold Project through drilling and exploration toward potential future production, offtake agreements, or direct-shipping-ore routes to defense and industrial buyers. It also holds uranium and copper assets in Namibia which are currently non-producing.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Critical One Energy is a pre-revenue mining exploration company advancing the Howells Lake Antimony-Gold Project in northwestern Ontario, Canada, which is one of Canada's largest known undeveloped antimony systems. The company also holds the KCR Gold Project (including the Slam Gold Zone) in Ontario and uranium and copper assets in Namibia's Erongo province (Khan and Cobra projects). Its primary focus is on advancing exploration drilling toward potential direct-shipping-ore offtake of high-grade antimony stibnite for North American defense, industrial, and clean-energy buyers.

Product overview

Critical One Energy is a Canadian critical minerals and upstream energy company operating as a mining exploration enterprise rather than a traditional software product company. Its core portfolio consists of the Howells Lake Antimony-Gold Project (flagship), the KCR Gold Project, and Namibia uranium/copper assets. The Howells Lake project represents the primary focus with near-pure stibnite confirmed in modern drilling (4.0 m of 70.2% Sb within 8.0 m of 42.2% Sb), positioning the company to support North American antimony supply chains for defense, industrial, and clean energy applications.

Differentiator

Problem solved

Functional benefit

Products and services

• Howells Lake Antimony-Gold Project A district-scale antimony-gold mining exploration project in northwestern Ontario, Canada, covering 24,887 hectares across 697 claims with approximately 30 km of priority antimony-gold targets. Modern drilling has confirmed near-pure stibnite mineralization (Hole 6 returned 4.0 m grading 70.2% Sb within 8.0 m grading 42.2% Sb). Target buyers are North American defense, industrial, and clean-energy antimony consumers.
• KCR Gold Project Gold exploration project in Ontario, Canada, including the Slam Gold Zone discovery with visible gold mineralization assays up to 64.1 g/t over 1 meter within a 20.4 metre interval grading 3.54 g/t gold. Provides secondary gold upside within the broader Ontario critical minerals portfolio.
• Namibia Uranium and Copper Assets Uranium and copper exploration assets located in Namibia's Erongo province, including the Khan and Cobra uranium projects. Currently non-producing and held for future exploration and development upside.

Quantifiable outcome

• Hole 6 returned 4.0 m grading 70.2% Sb within 8.0 m grading 42.2% Sb, approaching pure stibnite composition of 71.7% Sb — among the highest-grade antimony drill results in North America.
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered operational, key infrastructure partner, minor, key advisory and core partnership.

• AGAT LaboratoriesoperationalTechnology or Integration · 16 June 2026Assay analysis conducted by AGAT Laboratories in Thunder Bay, Ontario (sample preparation) and Calgary, Alberta (analysis). AGAT is an internationally accredited laboratory holding ISO/IEC 17025:2017 accreditations from SCC, CALA, ANAB, and A2LA. Used for antimony (sodium peroxide fusion + ICP-OES, and WDXRF for overlimit samples), gold (fire assay + ICP-OES), zinc, and 30 additional elements.
• Green Infrastructure Partners Inc. (GIP)key infrastructure partnerStrategic or Co-development Partner · 28 May 2026Strategic MOU signed May 28, 2026 with Green Infrastructure Partners Inc., one of Canada's largest civil infrastructure companies, to support road planning, civil works, workforce training, and contract mining services at the Howells Lake Antimony-Gold Project. The MOU positions GIP as Critical One's key infrastructure partner, aligning the project with Ontario's Northern Ontario critical minerals infrastructure build-out including the Ring of Fire road program. GIP has 33 asphalt plants, 8 concrete plants, access to over 250 aggregate sites, and more than 3,000 employees. The non-binding agreement has an initial 24-month term.
• Fleming College (Parnham Family Student Endowment)minorOthers · 28 May 2026GIP MOU includes workforce training delivered with Fleming College in Lindsay, Ontario, through the Parnham Family Student Endowment, providing certified heavy equipment operator training for First Nation community members.
• General (Ret.) Charles A. Flynnkey advisoryOthers · 16 April 2026Retired U.S. Army four-star General appointed to Strategic Advisory Board in April 2026. General Flynn retired November 2024 after 39 years of service, most recently as Commanding General of U.S. Army Pacific. He advises on U.S. strategic engagement, defense-sector relationships, funding opportunities, supply chain partnerships, and antimony offtake discussions. 200,000 stock options granted at CDN$1.03 per share for five years.
• Eabametoong First Nation (EFN)core partnershipStrategic or Co-development Partner · 12 March 2026Exploration agreement signed March 12, 2026 with Eabametoong First Nation for the Howells Lake Antimony-Gold Project located on the traditional territory of EFN. The agreement establishes a collaborative framework for responsible exploration and potential future development, including CDN$250,000 worth of shares issued within 30 days, ongoing cash considerations and expense coverage, community environmental monitors, and First Nation participation in guiding project activities. Chief Solomon Atlookan cited positive and respectful dialogue and noted the agreement ensures community involvement and benefit sharing.

Scale indicators6 records

Recent moves7 records

Expansion highlights7 records

Emerging players

• Scottie Resources Corp. Scottie Resources is a junior gold explorer advancing the Scottie Gold Mine project in British Columbia. While not in Ontario, it is a comparable junior gold explorer with high-grade drill results and similar capital markets profile to Critical One.
• Trigon Metals: Trigon Metals is a junior base and precious metals explorer with operations in Namibia (Kombat copper mine) and Morocco, making it a comparable peer for Critical One's Namibia uranium-copper portfolio alongside its North American flagship asset.
• Defense Metals Corp. Defense Metals is a Canadian critical minerals explorer advancing the Wicheeda rare earth project in British Columbia. While focused on rare earths rather than antimony, it is comparable as a publicly listed Canadian critical minerals developer aligned with Western defense supply-chain themes.

Direct peers

• Perpetua Resources: Perpetua Resources is developing the Stibnite Gold Project in Idaho, one of the largest known antimony-gold deposits in the United States. It is the most directly comparable peer to Critical One given its antimony-gold focus, U.S. strategic positioning, and pursuit of defense-sector offtake.
• Mandalay Resources: Mandalay Resources produces antimony and gold at its Costerfield mine in Australia, making it one of the few Western primary antimony producers. It provides a relevant operating benchmark for antimony-gold economics and direct-shipping-ore scenarios.
• United States Antimony Corporation: US Antimony is a publicly traded North American antimony producer and processor operating mines and smelting facilities in Mexico and the U.S. It is a direct peer on the antimony supply side and a potential offtake or processing partner for Critical One's future production.

Broad incumbents

• IAMGOLD Corporation: IAMGOLD is a mid-tier gold producer with operations in Ontario (Côté Lake) and West Africa, and is a senior gold company operating in the same jurisdiction as Critical One. It provides a relevant benchmark for Ontario greenstone-belt exploration economics and regional infrastructure dynamics.

Regional players

• Wesdome Gold Mines: Wesdome operates the Eagle River and Kiena gold mines in Ontario and is a relevant regional incumbent with established Ontario greenstone-belt infrastructure. Matthew Trenkler previously led exploration at Eagle River, providing a direct human-capital linkage to Wesdome.
• Wallbridge Mining Company: Wallbridge Mining is a Canadian gold explorer advancing the Martiniere gold project in Ontario along the Detour Lake trend. It is a comparable Ontario-focused gold exploration peer with similar geological setting and infrastructure considerations.

Others

• Dark Star Minerals Inc. Dark Star Minerals is a uranium-focused exploration company advancing projects in Namibia. Critical One previously held an indirect interest in Dark Star and the two companies share history around Namibia uranium assets, making Dark Star a relevant ecosystem comparator rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/critical1energy
• YouTubeyoutube.com/channel/UC0plBGuVpb8kmYnVKxHVvGg
• Facebookfacebook.com/CriticalOneEnergy
• LinkedInlinkedin.com/company/critical-one
• Instagraminstagram.com/criticaloneenergy

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds9 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Critical One Energy