Madison Metals Inc. announced the termination of its uranium forward sales agreement with Sanmiguel Capital Investment (Bahamas) Ltd. (Sanmiguel), an arm's length financial advisory firm assisting with the administration of uranium tokenization (press release dated June 1, 2023). To date, only 2,130 pounds of U3O8 priced at US$68 per pound has been purchased from initial uranium token sales. Madison will honour delivery if the investor(s) meets all the contractual redemption and delivery protocols.

The decision to terminate the forward sales agreement with Sanmiguel also removes any confusion with respect to obligations, therefore freeing up 100% of Madison's future uranium production for full financial benefit back to the Company's shareholders.