News

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, January 18, 2022 – Madison Metals Inc. (the “Company”) is pleased to announce that it has entered into an agreement with Cormark Securities Inc. (“Cormark”), on behalf of a syndicate of agents (collectively, the “Agents”), pursuant to which the Agents have agreed to carry out a best efforts private placement of subscription receipts (the “Subscription Receipts”) of the Company for gross proceeds of C$10 million (the “Offering”). The Company intends to use the net proceeds of the Offering for exploration expenditures at its Kenora uranium project, the acquisition of the Rossing North Uranium project (as described below) and for general working capital purposes. The issue price of the Subscription Receipts will be determined in the context of the market and announced at a later date.

TORONTO, Jan. 17, 2022 — Madison Metals Inc. (the “Company” or “Madison”) is pleased to announce it has entered into a binding letter of intent (the “LOI”) with Giraffe Energy Investments Close Corporation and Otjiwa Mining and Prospecting Close Corporation (the “Vendors”) to contemplate the acquisition of 85% interest in 3 separate concessions named the Rössing North Uranium Project. This project is located in the Erongo Province, Namibia Africa, which hosts renowned uranium deposits such as the Rössing Mine, Husab, Valencia, Etango and the Langer Heinrich Mine.

TORONTO, Jan. 13, 2022 (GLOBE NEWSWIRE) — Madison Metals Inc. (the “Company”) is pleased to announce that it has closed its previously announced acquisition (the “Acquisition”) from 2160083 Ontario Inc. of a 100% interest in Richard Lake Uranium Project consisting of approximately 1,411 unpatented mineral claims located around Kenora, Ontario. The consideration for the Acquisition consisted of 8,000,000 common shares in the capital of the Company (the “Consideration Shares”). The Consideration Shares are subject to certain escrow release conditions.

TORONTO, ONTARIO, July 27, 2021, Madison Metals Inc. (the “Company”) is pleased to announce the closing of its non-brokered private placement (the “Placement”) first announced on June 30, 2021. The Company issued 5,238,654 units (the “Units”) at a price of $0.25 per Unit for gross proceeds of $1,309,663.50.

TORONTO, July 19, 2021 (GLOBE NEWSWIRE) — Madison Metals Inc. (the “Company”) – announces that, further to its news release of June 30, 2021, effective as of Friday July 16, 2021, the Company will consolidate its common shares on the basis of 12.465 pre-consolidation common shares for each one (1) post-consolidation common share (the “Consolidation”). The Company’s new ISIN is CA55658R2081 and its new CUSIP is 55658R208. The Company’s name will remain unchanged following the Consolidation.