Yes. Just like you would with an rfc1918 network.
If they routed 1.1.1.0/25 to you:
Interface: 1.1.1.1 /25
Usable: 1.1.1.2 - 1.1.1.126
They'd set 1.1.1.1 as the gateway.
Or you could configure DHCP to hand out the addresses if you wanted.
You could also just use a /26, /27, /28, /29, /30, /31 on the inside interface and use the rest of the space for other purposes.