Madison Metals Provides Update for its Uranium Forward Sales Agreement with Sanmiguel Capital Investment

TORONTO, Jan. 22, 2024 (GLOBE NEWSWIRE) — Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) is pleased to provide an update on its uranium forward sales agreement with Sanmiguel Capital Investment (Bahamas) Ltd., a financial advisory firm assisting with the administration. Since November 2023, Madison Metals has successfully received funds for its first tranche of the Company’s forward sales agreement, at an average price of US$68 per lb. This achievement underscores the uranium agreement’s effectiveness in securing favorable pricing, well above the contractual established US$45 price floor. As there is no price ceiling, Madison’s forward sales agreement provides upside potential for advantageous pricing as the market continues to surge. The significant flexibility of the forward sales agreement allows the Company to adapt and capitalize on the uranium market’s upward price trajectory.

Given the exceptional performance of the current uranium market, with an 88% spot price […]

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