Discovery Hole Drilled by Madison Metals at Khan Uranium Project in Namibia, Africa

TORONTO, May 27, 2024 (GLOBE NEWSWIRE) -- Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) is pleased to announce that Reverse Circulation (“RC”) drill hole KM5RC003 has intersected strong uranium mineralization over minable widths under trench area TR003 (refer to press releases dated March 4, 2024 and April 18, 2024).

The RC hole was positioned at 55-degree azimuth facing northeast intersecting four distinct uranium mineralized radiometric D-type leucogranites (favourable rock type mined at Rossing) over 157 metres (m). Spectrometer readings from chip sample bags returned values as high as 1.36% U₃O₈ at 45m and 1.54% at 148m vertical depth from surface. Mineralization is open in all directions and requires additional drilling to determine size and geometry.

The RC hole will be geo-probed and chemical assays will be performed as per the Company’s QA/QC protocol to confirm uranium concentrations. Further details will be provided as results are received and reviewed by Madison management.

Drilling continues in the TR004 and TR005 trenching area where strong uranium mineralization was encountered at surface. Additional drilling is also planned at TR003 due to this discovery.

Qualified Person

Mary Barton, a Professional Natural Scientist (SACNASP) and a Qualified Person for the purposes of National Instrument 43-101 (NI 43-101) Standards of Disclosure for Mineral Projects for ML86A, has reviewed, verified, and approved the technical information contained in this news release.

About Madison Metals Inc.

Madison Metals Inc. (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) is an upstream mining and exploration company focused on sustainable uranium production in Namibia and Canada. With over 50 years of mining experience, including 22 years in Namibia, its management team has geological and financial expertise and a track record of creating shareholder value.

Additional information about Madison Metals Inc. can be found at madisonmetals.ca and on the Company’s SEDAR+ profile at www.sedarplus.ca.

For further information, please contact:
Duane Parnham
Executive Chairman & CEO
Madison Metals Inc.
[phone]
[e-mail]

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Adam Bello
Manager, Media & Analyst Relations
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European investor inquiries:
Florian Munsch
Euroswiss Equity Group
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