Madison Metals Announces Share Issuance in Connection to Acquiring Uranium Projects in Namibia

TORONTO, Sept. 07, 2022 (GLOBE NEWSWIRE) — Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTC: MMTLF) is pleased to announce that it has received approval from the Ministry of Mines and Energy, Republic of Namibia for the partial (1/3) transfer of three separate concessions held by Giraffe Energy Investments Close Corporation (“ Giraffe Energy ”) and Otjiwa Mining and Prospecting Close Corporation named the Rössing North Uranium Project (the “ First Transfer ”) to Pennywort Investments (Pty) Limited, a wholly owned subsidiary of the Company. In connection with the completion of the First Transfer, the Company issued 533,333 common shares at a price of CAD$0.52 and made a cash payment in the amount of CAD$50,000.00 to Giraffe Energy.

The Company has also issued 75,000 common shares for services rendered to Sanmiguel Capital Investment (Bahamas) Ltd., a consultant to the Company.

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