Mr. Duane Parnham reports

CRITICAL ONE ENERGY ANNOUNCES UPSIZED CDN$6,875,000 FLOW-THROUGH PRIVATE PLACEMENT

Critical One Energy Inc. has upsized the non-brokered private placement announced on July 21, 2026. Under the amended terms, the company will now issue up to 6.25 million flow-through common shares (FT shares) at a price of $1.10 per FT share for gross proceeds of up to $6,875,000.

"The strong institutional support for this oversubscribed financing gives us the runway to keep drilling, follow up on the strong results from phase I and advance the Howells Lake antimony-gold project through to the end of 2027. It allows us to move the project forward from a position of financial strength," said Duane Parnham, founder, executive chairman and chief executive officer of Critical One.

The company may pay finders' fees on a portion of the offering to eligible finders in the form of (i) a cash commission of up to 6.0 per cent of the gross proceeds raised under the offering, and (ii) common share purchase warrants of the company in an amount up to 6.0 per cent 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 $1.65 per common share for a period of 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 in two tranches. The first tranche, of up to $5,625,000, is expected to close on or around July 30, 2026. The second tranche, of up to $1.25-million, is expected to close on or around Aug. 14, 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 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.

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