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News Release
March 28, 2002

Phase 1 of 2002 Field Exploration Program to Begin at Mt. Kare

Madison Enterprises Corp. (“Madison”) is pleased to announce the initiation of its 2002 Phase I exploration program at the Mt. Kare gold property in Papua New Guinea, estimated by the independent engineering firm of Watts Griffis & McOuat to host a resource of 25.5 million tonnes grading 2.2 g/t gold and 29.0 g/t silver (using a 1.0 g/t gold equivalent cut-off and with the cutting of high grade gold assays to 30 g/t).

The aim of Madison’s 2002 exploration program is to expand the total resource through the identification and delineation of new mineralized zones. Preliminary evaluation will consist of a helicopter-supported, regional prospecting and geochemical sampling program of the many drainages throughout the property. Areas displaying favorable alteration and mineralization following this first-pass reconnaissance evaluation will be further evaluated by detailed geochemical sampling, geologic mapping, trenching and ground geophysics.

Previously recognized high priority exploration targets beyond the area of known resources include the Pinuni Creek structural corridor and the Orosa Creek geophysical trend. Madison will undertake detailed mapping, sampling and trenching on the extensive NE-SW trending Pinuni Creek structural target area in order to refine drill targets for the 2002 Phase II exploration program. A similar evaluation will be undertaken at Orosa Creek to identify drill targets within this area characterized by a geophysical signature nearly identical to that associated with the known resource at Mt. Kare.

An additional component of Madison’s Phase I exploration program will be a detailed mapping and trench sampling program across recently exposed quartz-roscoelite-sulphide mineralization, (containing visible gold) within a NE-SW structure crossing a portion of the area of previous drilling activity. Contingent upon successful results, drilling along a different orientation than previously used in this area, may be included as part of Madison’s follow-up Phase II program.

On behalf of the Board of Directors of
MADISON ENTERPRISES CORPORATION

"Chet Idziszek"
Chet Idziszek, President

NO STOCK EXCHANGE HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

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