Mr. Duane Parnham reports

MADISON METALS PROPOSES STRATEGIC PRIVATE PLACEMENT OF UNITS

Madison Metals Inc. has arranged a private placement of units at a price of 40 cents per unit for aggregate gross proceeds of up to $500,000. Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant (each whole common share purchase warrant, a warrant) with each warrant entitling the holder thereof to purchase one common share of the company at a price of 60 cents for up to 12 months.

It is anticipated that the proceeds from the private placement will be used for exploration on the company's properties and for general working capital. All securities issued pursuant to the private placement described above will be subject to a four-month-and-one-day hold period.

About Madison Metals Inc.

Madison Metals Inc. 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 record of creating shareholder value.

We seek Safe Harbor.