Madison Metals Inc. announced that the Ministry of Mines and Energy of Namibia has granted a licence for base and rare metals, industrial minerals, and nuclear fuels for Exclusive Prospecting Licence 8905 (?EPL-8905?), which lies at Madison West within Mining Licence 86A (?ML-86A?), the same licence area that hosts the Khan Copper Mine. This important development signifies a major milestone for Madison as the Company continues to build its portfolio and capitalize on the growth opportunities in the uranium mining sector. Madison is earning a 90% interest in ML-86A and EPL-8905 through cash payments, while 10% carried is held by the Company?s esteemed Namibian partners.

The new licence expands Madison?s scope of exploration and development to include uranium, copper, gold, silver, and other precious metals. This strategic move aligns with Madison?s commitment to advancing uranium production and exploring high-value base and rare metals opportunities. The addition of copper exploration on the Namibian licence, alongside that of uranium, expands Madison?s potential for producing more of the in-demand critical metals needed for the global energy transition.

This milestone complements Madison?s ongoing efforts to fast-track to uranium production and enhances the Company?s ability to leverage the full spectrum of mineral resources available in the ML-86A and EPL-8905 licence areas. Madison Metals remains dedicated to its mission of delivering value to shareholders and advancing world-class uranium assets while exploring complementary opportunities in base, precious, and critical metals.