Madison Metals Engages Investor Awareness Agency Impact Capital Markets

TORONTO, June 13, 2023 - Madison Metals Inc. ("Madison" or the "Company") (CSE: GREN) (OTCQB: MMTLF) is pleased to announce that it has engaged Impact Capital Markets Inc. ("Impact") to provide investor awareness services to the Company. Impact Capital Markets is a full-service marketing agency that provides investor awareness campaigns.

"This is a particularly exciting time for Madison. With the recent signing of our multi-year, uranium forward-sales agreement, we believe this is the right time to increase our engagement with investors," said Duane Parnham, Executive Chairman and CEO of Madison Metals. "As we drill and expand our uranium resources in Namibia, Impact Capital Markets will assist in providing investors with greater visibility on our progress."

"Impact Capital Markets is excited to be working with an innovative industry leader like Duane Parnham who has a proven history of success in the mining sector and has delivered a strategy to monetize the Company's in-the-ground uranium resources," said Alexander Roberts, Director of Growth Marketing for Impact Capital Markets.

Under the terms of Madison's agreement with Impact, which commences July 1, 2023 for a one-year period and will end on June 30, 2024, Impact will execute a comprehensive online investor awareness campaign to support the Company's brand strategy. This will include online marketing and advertising, digital video content, email awareness campaigns and a monthly webinar, among other activities. For these services, Impact will be paid a fee of C$10,000 + HST per month on a cash basis.

Madison has also granted 725,000 stock options to management and consultants at C$0.38 in accordance with the Company's stock option plan. The options carry a term of five years and vest immediately.

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 Parnham
Executive Chairman & CEO
Madison Metals Inc.
+1 (416) 489-0092
ir@madisonmetals.ca

Alex Roberts
Director of Growth Marketing
Impact Capital Markets Inc.
401 Bay Street, Suite 2704
Toronto, ON M5H 2Y4
+ (416) 460-5002
enquire@impactcap.ca

Media inquiries for Madison Metals:
Adam Bello
Manager, Media & Analyst Relations
Primoris Group Inc.
+1 (416) 489-0092
media@primorisgroup.com

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 terms of the forward-sales agreement; the issuance of common shares of Madison; and 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.

Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others: the global economic climate; competition; labour shortages, and unanticipated expenses of the Company. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: failure of the Company or its contractual partners to fulfil their respective obligations under agreements; unanticipated delays in drilling as described in this press release; the impact the COVID 19 pandemic may have on the Company's activities and the economy in general; the impact of the recovery post COVID 19 pandemic and its impact on precious metals; receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; accidents, labour disputes and shortages; environmental risks; and other risks of the mining industry.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

You can find further information with respect to these and other risks in filings made with the Canadian securities regulatory authorities that are available on the Company's SEDAR profile page at www.sedar.com. The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.