TORONTO, Nov. 22, 2022 — Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) is pleased to announce that its common shares are now eligible for electronic clearing and settlement in the United States through the Depository Trust Company (“DTC”).

DTC eligibility is expected to simplify the process of trading and enhance liquidity of Madison shares in the United States. The Company’s shares recently began trading on the OTCQB^® Venture Market (“OTCQB”) under the ticker symbol MMTLF.

DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be “DTC eligible.” This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements.

The Company’s common shares trade on the Canadian Securities Exchange under the symbol “GREN” and on the OTCQB under the symbol “MMTLF.”

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About Madison Metals Inc.

Madison Metals Inc. (CSE: GREN) (OTCQB: MMTLF) is an upstream mining and exploration company focused on sustainable uranium production in Namibia and Canada. Using cutting-edge technologies and modern strategies, Madison Metals Inc. is positioned to move advanced uranium assets to market quickly.

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.sedar.com.

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For further information, please contact:

Duane Parnham
Executive Chairman & CEO
Madison Metals Inc.
+1 (416) 489-0092
ir@madisonmetals.ca

Media inquiries:

Adam BelloManager,
Media & Analyst Relations‍
Primoris Group Inc.
‍+1 (416) 489-0092‍
‍media@primorisgroup.com

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Investor/shareholder inquiries:

Neil Simon
‍‍Chairman & CEO
‍‍Investor Cubed Inc.
+1 (647) 258-3310‍
‍nsimon@investor3.ca

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Forward-looking Statements

This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements include words or expressions such as “proposed”, “will”, “subject to”, “near future”, “in the event”, “would”, “expect”, “prepared to” and other similar words or expressions.

Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital and other resources will be available to the Company to carry out its operations as currently planned.

Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political and social uncertainties; there being no assurances that the proposed exploration program will yield favourable results; the state of capital markets; the risk that the Company will not receive all necessary approvals required in order to conduct its operations as currently anticipated; accidents, labour disputes and shortages; environmental and other risks of the mining industry; other unforeseen events and developments; factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant; and risks associated with the ongoing COVID-19 pandemic.

You can find further information with respect to these and other risks in filings made with the Canadian securities regulatory authorities that are available on the Company’s SEDAR profile page at www.sedar.com. The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.