Critical One Energy Inc. ($CRTL) Announces Termination of Namibia Asset Purchase Agreement
Critical One Energy Inc. ($CRTL), a prominent Canadian mining exploration company specializing in critical metals and minerals, has announced the mutual termination of its purchase agreement with Dark Star Minerals Inc. regarding the proposed sale of its Namibia assets.
Details of the Termination
The Namibia Assets, which include interests in the Khan and Cobra uranium projects located in Namibia's well-established Erongo uranium province, will no longer be sold as per the agreement dated August 7, 2025. This region is recognized for its robust mining activities and is among the top uranium-producing areas globally, according to the World Nuclear Association.
As part of the unwind process, Critical One will return 14,200,000 common shares of Dark Star that were previously issued to the Company. Importantly, no termination fees or penalties will be enforced on either party. Additionally, Duane Parnham, the Founder, Executive Chairman, and CEO of Critical One, has stepped down from his advisory role with Dark Star effective immediately.
Strategic Focus on Howells Lake Project
Duane Parnham stated, "The mutual termination of this agreement was the right outcome for Critical One and our shareholders. With copper and uranium markets showing renewed strength, regaining control of the Namibia Assets enhances our flexibility at a crucial time." Critical One’s emphasis now shifts back to the Howells Lake Antimony-Gold Project in Ontario, where preparations for a maiden drill program are underway following recent exploration permit approvals.
Located around 120 kilometers west of Ontario's Ring of Fire, the Howells Lake Project is strategically significant for Canada’s critical minerals strategy, particularly as global demand for such resources continues to rise amidst supply constraints.
Future Plans
Critical One intends to leverage the opportunities created by the return of the Namibia Assets to complement its initiatives at the Howells Lake Project. Further updates will be provided as plans for the Namibia Assets are formalized.
As a forward-focused company, Critical One Energy Inc. is committed to powering the future of clean energy and advanced technologies. With its focus on critical minerals, including antimony and gold, Critical One is well-positioned to meet the growing global demand. For more information, visit criticaloneenergy.com or check their profile on SEDAR+.
For any inquiries, please contact:
Duane Parnham
Executive Chairman & CEO
Critical One Energy Inc.
+1 (416) 489-0092
ir@criticaloneenergy.com
Adam Bello
Manager, Media & Analyst Relations
Primoris Group Inc.
+1 (416) 489-0092
media@primorisgroup.com