PGA.CN · 2022-12-20 12:00:00

Madi Minerals Closes Financing

Financings

Vancouver, British Columbia, December 20, 2022: Madi Minerals Ltd. (the "Company" or

"Madi") (CSE: MADI) announces it has closed a non- brokered private placement of 1,800,000

flow-through units (the “FT Units”) and at a price of $0.05 per FT Unit and 6,100,000 hard dollar

units (the “Hard Units”) at a price of $0.05 per Unit, for aggregate gross proceeds of $395,000.00.

Each FT Unit is comprised of one common share of the company issued on a flow -through basis

and one-half of one common share purchase warrant to be issued on a non- flow-through basis.

Each whole warrant shall entitle the holder thereof to acquire one common share of Madi at a price

of $0.10 for a period of 36 months following the closing of the offering.

Each Hard Unit shall be comprised of one common share of the company and one full share

purchase warrant. Each whole warrant shall entitle the holder thereof to acquire one additional

common share of the Company at a price of $0.10 for a period of 36 months following the closing

of the offering

Proceeds raised from the offerings will be used to advance the Company’s Morrison River lithium

property located in Ontario as well as general corporate overhead.

The securities issued under the offering, and any shares that may be issuable on exercise of any

such securities, will be subject to a statutory hold period expiring four months and one day from

the date of issuance of such securities.

About Madi Minerals Ltd.

Madi Minerals Ltd. is engaged in the business of mineral exploration and the acquisition of mineral

property assets in North America for the benefit of its stakeholders.

For more information, please refer to the Company's prospectus dated March 18, 2022, available

on SEDAR (www.sedar.com).

On Behalf of the Board of Directors

Ross Mitgang

Chief Executive Officer, President and Director

This Press Release may contain forward-looking statements that may involve a number of risks and uncertainties,

based on assumptions and judgments of management regarding future events or results that may prove to be

inaccurate as a result of exploration and other risk factors beyond its control. Actual events or results could differ

materially from the Companies forward looking statements and expectations. These risks and uncertainties include,

among other things, that we may not be able to obtain regulatory approval; that we may not be able to raise

funds required, that conditions to closing may not be fulfilled and we may not be able to organize and carry

out an exploration program in 2022, and other risks associated with being a mineral exploration and

development company. These forward-looking statements are made as of the date of this news release and, except

as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to

update the reasons why actual results differed from those projected in the forward-looking statements.