Madison Mineral


Belencillo Project, Panama Madison Minerals, through a wholly owned Panamanian subsidiary, holds a 31.12% interest in the Belencillo Concession situated in the Petaquilla Mineral District of eastern Panama. The remaining interest is owned by Petaquilla Minerals Ltd., the operator of the nearby Molejon Gold Mine scheduled to begin production in 2009. Upon receipt of all permits, the newly constructed, 2,200-tonne-per-day Molejon Mine is expected to produce 100,000 ounces of gold in its first full year of operation. The nearby Petaquilla Project is a world-class copper-molybdenum-gold deposit at the feasibility stage. The Petaquilla and Molejon deposits were both explored and developed in the 1980s and 1990s by Adrian Resources Ltd., which was then led by the same technical and management team presently overseeing Madison Minerals. Madison is seeking to sell this interest on the most favourable terms obtainable.

Belencillo Project, Panama

Madison Minerals, through a wholly owned Panamanian subsidiary, holds a 31.12% interest in the Belencillo Concession situated in the Petaquilla Mineral District of eastern Panama. The remaining interest is owned by Petaquilla Minerals Ltd., the operator of the nearby Molejon Gold Mine scheduled to begin production in 2009. Upon receipt of all permits, the newly constructed, 2,200-tonne-per-day Molejon Mine is expected to produce 100,000 ounces of gold in its first full year of operation.

The nearby Petaquilla Project is a world-class copper-molybdenum-gold deposit at the feasibility stage. The Petaquilla and Molejon deposits were both explored and developed in the 1980s and 1990s by Adrian Resources Ltd., which was then led by the same technical and management team presently overseeing Madison Minerals. Madison is seeking to sell this interest on the most favourable terms obtainable.