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by Mike Caswell

Critical One Energy Inc., a uranium explorer with properties in Ontario and Namibia, has filed a lawsuit in the Supreme Court of British Columbia against fellow uranium junior American Atomics Inc. over a terminated option agreement between the companies. Critical One says that American Atomics violated the terms of the deal, allowing part of the ground to lapse and staking claims of its own in the area. The suit seeks court-ordered damages and possession of the staked ground.

The allegations are contained in a notice of claim that Critical One filed at the Vancouver courthouse on Oct. 15, 2026. The case arises from an option agreement for Critical One's Kenora property in Ontario. The agreement, dated May 5, 2023, allowed American Atomics to acquire 60 per cent of Kenora by paying $50,000 and by spending $900,000 on exploration by May 6, 2026. The deal, as set out in the suit, came to an end on May 3, 2026, when American Atomics notified Critical One that it was terminating the arrangement.

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