Critical One Energy raises CDN$5,565,000 in flow-through private placement

Toronto, Ontario--(Newsfile Corp. - July 21, 2026) - Critical One Energy Inc.  (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF) (" Critical One " or the " Company ") is pleased to announce that it intends to complete a non-brokered private placement offering of up to 5,059,090 flow-through common shares (" FT Shares ") at a price of CDN$1.10 per FT Share (a premium to yesterday's closing price of the Company's common shares, being CDN$0.93) for gross proceeds of up to CDN$5,565,000 (the " Offering "). The Company may pay finder's fees on a portion of the Offering to eligible finders in the form of (i) a cash commission of up to 6.0% of the gross proceeds raised under the Offering, and (ii) common share purchase warrants of the Company (" Finder's Warrants ") in an amount up to 6.0% of the FT Shares issued under the Offering. Each Finder's Warrant will be exercisable to purchase one common share in the capital of the Company at a price of CDN$1.65 per common share for a period of eighteen (18) months from the date of closing.

The Company intends to use the gross proceeds from the sale of the FT Shares to incur exploration expenses that are eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (Canada). The Offering is scheduled to close on or about July 30, 2026. All securities issued pursuant to the Offering described above will be subject to a four-month and one-day hold period.

About Critical One Energy Inc. Critical One Energy Inc. is a Canadian critical minerals and upstream energy company focused on metals essential to energy, technology and national defence supply chains. The Company is advancing the Howells Lake Antimony-Gold Project, which provides Critical One with direct exposure to antimony, a critical metal of increasing strategic importance to Western nations, as well as meaningful gold exploration potential across the property. Backed by seasoned management expertise, Critical One is positioned to advance high-value mineral projects aligned with the rising demand for secure critical minerals supply.

The Company also holds uranium and copper assets in Namibia, providing additional exposure to critical minerals and energy metals. 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.