Madison Metals Inc. has secured an Exclusive Prospecting Licence 8905 (EPL-8905) from Ministry of Mines and Energy of Namibia. This new licence grants Madison exploration rights for a broader range of resources, including base and rare metals, industrial minerals, and notably, nuclear fuels. Located within the company's existing Mining Licence 86A, geographical area that also hosts the Khan Copper Mine, this development strengthens Madison's position to explore and potentially develop a more diverse portfolio of valuable resources in Namibia.

This significant development represents a major milestone for Madison as the company strategically expands its portfolio and positions itself to capitalize on expanding opportunities within the Uranium mining sector. Through structured cash payments, Madison is securing a commanding 90% interest in ML-86A and EPL-8905, while the remaining 10% interest is carried by respected Namibian partners, underscoring collaborative efforts in the region.

The acquisition of these new licenses not only marks an expansion of Madison's operational footprint but also broadens its scope of exploration and development activities. Beyond Uranium, the licenses encompass prospective areas for Copper, Gold, Silver, and other valuable precious metals. This strategic diversification aligns perfectly with Madison's commitment to advancing Uranium production while concurrently exploring opportunities in high-value base metals and rare minerals. By integrating copper exploration alongside Uranium in Namibia, Madison enhances its potential to contribute significantly to the supply chain of critical metals essential for supporting global energy transition initiatives.

Duane Parnham, Executive Chairman and CEO of Madison, expressed excitement about the expansion of their EPL-8905 license to encompass nuclear fuels, heralding it as a significant milestone for the company. He extended heartfelt gratitude to Madison's Namibian partners for their professionalism, friendship, and steadfast support in advancing their collaborative efforts. Parnham emphasized that this achievement represents a pivotal moment in Madison's Uranium advancement strategy, following successful drilling results. He also highlighted the addition of rich copper resources from the Khan Copper Mine to their asset portfolio, underscoring the strategic growth opportunities this development opens up for Madison.

This milestone represents a significant step forward for Madison, synergizing with its accelerated path towards Uranium production and bolstering the company's capacity to capitalize on the diverse mineral resources within the ML-86A and EPL-8905 license areas. Madison Metals remains steadfast in its commitment to delivering shareholder value by advancing its world-class Uranium assets while actively exploring opportunities in base metals, precious metals, and critical minerals. This strategic focus not only enhances Madison's operational capabilities but also underscores its dedication to sustainable growth and maximizing the potential of its mining ventures across multiple mineral sectors.