TORONTO, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) announces that Executive Chairman and CEO Duane Parnham has increased his position in the Company by 35% year to date, through open market purchases and private placements, at an average cost of CDN$0.33 per share. For more details, please refer to Madison’s SEDAR+ profile at www.sedarplus.ca.

“Madison's management continues delivering on its business strategy of delivering technical excellence from our new high-grade discovery and goal to fast-track production. With the recent granting of a mining licence, we are accelerating our path to cash flow while managing dilution directly benefiting shareholder value,” said Mr. Parnham.

Madison Metals is one of the few companies with a mining licence to extract nuclear fuels in a world-class jurisdiction, benefiting its enterprise value from low estimated capital and operating expenses, simplified operations, and a quick path to free cash flow. Mr. Parnham's stock purchases are for investment purposes only, and he may increase or decrease his position as market conditions dictate.

About Madison Metals Inc.

Madison Metals Inc. (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) is an upstream mining and exploration company focused on critical metals, led by 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.sedarplus.ca.

For further information, please contact:
Duane Parnham
Executive Chairman & CEO
Madison Metals Inc.
+1 (416) 489-0092
[email protected]

Media inquiries:
Adam Bello
Manager, Media & Analyst Relations
Primoris Group Inc.
+1 (416) 489-0092
[email protected]

Neither the Canadian Securities Exchange nor CIRO 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 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 achievements 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.