Madison Metals Granted Nuclear Fuels Licence For Khan Uranium Project in Namibia, Africa

TORONTO, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) is pleased to announce that the Ministry of Mines and Energy of Namibia has granted permission for nuclear fuels extraction to the Company’s active Mining Licence 86A (“ML-86A”), the same licence within Madison West that hosts the past-producing Khan Copper Mine and the recent discovery of high-grade uranium intrusions.

"I wish to extend my sincere gratitude to the Government of Namibia for supporting mining projects for the benefit of their citizens in a calculated and sustainable manner that provides further confidence to foreign investors,” said Duane Parnham, Executive Chairman and CEO for Madison. “On behalf of the Madison team, once again, I would like to offer heartfelt thanks to our Namibian partners for their professionalism, friendship, and unwavering support as we work together to systematically fast-track the Khan project back into production.”

Madison Metals remains dedicated to its mission of delivering value to shareholders and advancing world-class uranium assets while exploring complementary opportunities in base, precious, and critical metals.

The letter from the Ministry of Mines and Energy of Namibia granting permission for nuclear fuels extraction at ML-86A was dated August 1, 2024 and received by the Company on the afternoon of August 9, 2024.

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]

Media inquiries:
Adam Bello
Manager, Media & Analyst Relations
Primoris Group Inc.
[phone]
[e-mail]  

Neither the Canadian Securities Exchange nor CIRO accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Statements

This release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to statements regarding the proposed future exploration and drilling by Madison.