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Madison Metals Receives Namibia MME License Transfer Approval
TORONTO, June 06, 2023 (GLOBE NEWSWIRE) -- Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) is pleased to announce that the Company h
About this update from Critical One Energy Inc.
[{"type":"text","content":" TORONTO, June 06, 2023 (GLOBE NEWSWIRE) -- 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 Licences 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 ParnhamExecutive Chairman & CEOMadison Metals Inc.+1 (416) [email protected] Media inquiries:Adam BelloManager, Media & Analyst RelationsPrimoris Group Inc.+1 (416) [email protected] 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 ter...