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News Release
October 22, 2002

Drilling Commences at the Lewis Property

Madison Enterprises Corp. (“Madison”) is pleased to announce that drilling has commenced on its Lewis Property in Lander County, Nevada. Madison plans to complete a minimum of ten holes totalling between 6,000 and 7,000 feet. Drilling will evaluate stratigraphic and structural targets, identified by Madison during its recent compilation work, which are identical to those hosting and controlling the gold mineralization at the adjacent Newmont Fortitude deposit.

The objective of this phase of drilling is to confirm and expand the along strike, up-dip and downdip extensions of the previously identified steeply dipping Virgin fault zone mineralization, recently identified flat-lying mineralization and other targets. Madison’s initial drill holes will test the up-dip extension of the steeply dipping, structurally-hosted style of gold mineralization previously encountered in drill holes FLW-43 and UTX-1. These holes intersected 0.196 oz/t Au over 170 feet and 0.122 oz/t Au over 240 feet, respectively.

The Lewis Property is strategically located immediately adjacent to the north and northwest of Newmont’s Phoenix Property where reported past production and current mineable reserves exceed nine million ounces of gold.

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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