Madison Metals Receives Namibia MME License Transfer Approval
Madison Metals Receives Namibia MME License Transfer Approval
TORONTO, ONTARIO – June 6, 2023 – Madison Metals Inc. (“Madison” or the “Company”) (CSE:
GREN) (OTCQB: MMTLF) is pleased to announce that the Company has received approval from
the Namibian Ministry of Mines and Energy for the transfer of Exclusive Prospecting Licence s
8531 (“EPL-8531”) and 8115 (“EPL-8115) to PennyWort Investments (Pty) Ltd, which is majority-
owned by Madison (85%) with the Company’s Namibian partners (15%).
As outlined in Madison’s press release dated September 19, 2022, EPL-8531 hosts the historical
uranium resource published by SKR Consulting (UK) Limited in November 2015, which will be
subject to a planned drill program to expand the reported resources over a 5 km target identified
by surface mapping and geophysics.
In connection with the final transfer and title ownership, Madison will issue 1,066,667 common
shares to the vendors (see press release dated January 17, 2022) and 75,000 common shares to
an arms -length consultancy advisor that made introductions and facilitated the transaction ,
which will complete all of the share issuances contemplated in the agreement between Madison
and the vendors of the transferred licences.
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. 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.
For further information, please contact:
Duane Parnham
Executive Chairman & CEO
Madison Metals Inc.
+1 (416) 489-0092
Media inquiries:
Adam Bello
Manager, Media & Analyst Relations
Primoris Group Inc.
+1 (416) 489-0092
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization
of Canada 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 fulfillment of terms of the
transfer of the licences described in this press release; the issuance of common shares of Madison; and the proposed
future exploration and drilling by Madison.
Generally, forward-looking statements can be identified by the use of forward -looking terminology such as “plans”,
“expects” or “does not expect”, “is expected”, “budget”, “schedule”, “estimates”, “forecasts”, “intends”, “continue”,
“anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that
certain actions, events or results “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved”.
Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue,
could cause the actual results, performance or achi evements of the Company to be materially different from future
results, performances or achievements expressed or implied by such statements. Such statements and information
are based on numerous assumptions regarding present and future business strategies and the environment in which
the Company will operate in the future.
Certain important factors that could cause actual results, performances or achievements to differ materially from
those in the forward-looking statements include, amongst others: the global economic climate; competition; labour
shortages, and unanticipated expenses of the Company. Forward -looking statements are subject to known and
unknown risks, uncertainties and other important factors that may cause the actual results, level of activ ity,
performance or achievements of the Company to be materially different from those expressed or implied by such
forward-looking statements, including but not limited to: failure of the Company or its contractual partners to fulfil
their respective obligations under agreements; unanticipated delays in drilling as described in this press release; the
impact the COVID 19 pandemic may have on the Company’s activities and the economy in general; the impact of the
recovery post COVID 19 pandemic and its impact on precious metals; receipt of necessary approvals; general
business, economic, competitive, political and social uncertainties; accidents, labour disputes and shortages;
environmental risks; and other risks of the mining industry.
Although the Company has attempted to identify important factors that could cause actual results to differ materially
from those contained in forward -looking statements, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements.
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.