Madison Metals extends closing of Khan Uranium project in Namibia
Madison Metals Inc. is pleased to announce that the Company and an arm’s length vendor have mutually agreed to extend the closing of the Khan Project agreement covering Mining Licence 86A (“ML86A”) and Exclusive Prospecting Licence 8905 (“EPL-8905”) in Namibia.
ML86A and EPL-8905 are key strategic licences to expand Madison’s land holdings around producing uranium mines in the Namibian province of Erongo. Together, they form a contiguous land package of 7.86 km2 immediately southwest of the Rössing Mine.
“Results from our initial ground prospecting survey are extremely encouraging and will be released once all the data has been fully analysed. We look forward to continuing to advance our regional-scale portfolio in Namibia’s highly prospective Erongo province,” said Duane Parnham, Executive Chairman and CEO of Madison Metals.
Madison has made advanced payments of US$125,000 towards the final closing price of the Khan Project transaction. Namibia is the world’s second-largest uranium-producing country and holds the world’s fifth-largest uranium total resource. A mining-friendly jurisdiction, Madison’s mining activities in Namibia are supported by excellent infrastructure including a seaport, airport, a well-established road network, water and power.
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. Using cutting-edge technologies and modern strategies, Madison Metals Inc. is positioned to move advanced uranium assets to market quickly.
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.
