Critical One Energy Inc. (formerly Madison Metals Inc.) (CSE: CRTL) (OTCQB: MMTLF) (FSE: 4EF0) is pleased to announce that, further to the press release issued on August 18, 2025, the Company has closed its oversubscribed, non-brokered financing and issued 5,001,999 units at a price of CDN$0.60 per Unit for aggregate gross proceeds of CDN$3,001,199.40.

Each Unit consists of one common share in the capital of the Company and one common share purchase warrant. Each full Warrant entitles the holder thereof to purchase one Common Share for a price of CDN$1.00 for a period of eighteen months from the date of issuance.

As part of the Private Placement, one director participated for an aggregate value of CDN$60,000 and received 100,000 Units.

The issuance of Units to the Related Party constitutes a “related party transaction” as such term is defined by Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions. The Company has relied on the exemption from the MI 61-101 valuation and minority approval requirements for related party transactions under sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the issuance of Common Shares to Related Parties, exceeds 25% of the Company’s market capitalization (as determined under MI 61-101).

All securities issued pursuant to the Private Placement described above will be subject to a four-month and one-day hold period.

In connection with the Private Placement, the Company paid compensation to certain eligible finders consisting of cash finder’s fees in an aggregate amount of CDN$180,072 and 299,100 broker warrants entitling the holder to exercise each whole warrant at CDN$1.00 within eighteen months.

It is anticipated that proceeds from the Private Placement will be used for exploration activities on the Company’s Howells Lake Antimony-Gold Project, as well as general and administrative expenses.

About Critical One Energy Inc.

Critical One Energy Inc. (formerly Madison Metals Inc.) is a forward-focused critical minerals and upstream energy company, powering the future of clean energy and advanced technologies. The addition of the Howells Lake Antimony-Gold Project broadens the Company’s exposure to antimony, one of the most in-demand critical minerals. Backed by seasoned management expertise and prime resource assets, Critical One is strategically positioned to meet the rising global demand for critical minerals and metals. Its mine exploration portfolio is led by antimony-gold exploration potential in Canada and uranium investment interests in Namibia, Africa. By leveraging its technical, managerial, and financial expertise, the Company upgrades and creates high-value projects, thereby driving growth and delivering value to its shareholders.