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News Release
November 25, 2002

Results from Nevada Drilling

• Drilling Confirms Extension of High Grade Virgin Fault Mineralization With Intercepts Of Up To Fifteen Feet Grading 3.24 oz/ton Gold
• Drilling Confirms Virtually Identical Hosting Stratigraphy, Controlling Structures and Mineralization Style Found on Newmont’s Adjacent Phoenix Property

Madison Enterprises Corp. ("Madison") is pleased to report the results from the first phase of drilling on its Lewis Property in Lander County, Nevada. Madison’s objective for this nine hole, reverse circulation drilling program was threefold: to confirm and expand the along strike and up-dip / down-dip extensions of the previously identified steeply dipping Virgin fault zone mineralization; to test recently identified flat-lying mineralization; and to test other targets.

The following table includes some of the significant mineral intercepts encountered during this first phase of drilling:

Hole #	From (feet)	To (feet)	Interval (feet)	Gold (oz/ton)	Silver (oz/ton)
MAD-01	165 245	185 275	20 30	0.010 0.015	1.9 0.2
MAD-02	60 370	105 395	45 25	0.024 0.024	0.1 0.2
MAD-03 including	150 200	275 220	125 20	0.023 0.066	0.5 0.5
MAD-04	395 535	405 555	10 20	0.024 0.012	0.3 0.6
MAD-05 including	85 175 185 335 410 655	95 280 200 345 475 765+	10 105 15 10 65 110+	0.010 0.512 3.24 0.019 0.014 0.043	0.8 1.4 6.3 0.2 0.2 0.1
MAD-06 including	170 220 460 510 540	250 235 470 515 545	80 15 10 5 5	0.039 0.078 0.023 0.031 0.028	0.3 0.9 0.1 0.1 0.3
MAD-07 including	115 190 190 275	125 250 200 320	10 60 10 45	0.036 0.049 0.175 0.036	0.6 0.4 0.6 0.4
MAD-08	300 350 450 700	310 380 465 725+	10 30 15 25+	0.022 0.205 0.018 0.010	0.6 0.5 0.2 0.1
MAD-09	145	170	25	0.012	0.4

The reported intervals are found within a broader zone of geochemically elevated base and precious metal mineralization.

Drill holes MAD-03, MAD-05, MAD-06 and MAD-08 were drilled 100 to 450 feet up-dip from the following six previously drilled holes over a strike extent of 400 feet:

Hole #	Interval (feet)	Gold (oz/ton)
UTX-1	65	0.339
UTX-2	55	0.108
UTX-3	25	0.073
FWL-11	80	0.337
FWL-43	30	0.910
FWL-44	30	0.190

This steeply-dipping Virgin fault mineralization remains open and untested in every direction including 400 feet south to the property boundary.

All nine holes drilled in this first phase of work encountered the recently identified flat-lying mineralization, including the hole drilled furthest to the north, hole MAD-07. The other target successfully tested by this round of drilling was an untested steeply-dipping fault near the eastern boundary of the Lewis Property which was confirmed by hole MAD-01. The target tested by MAD-01 may represent near-surface mineralization similar to that found at Newmont’s Upper Fortitude deposit.

Assays were completed by ALS-Chemex of North Vancouver. Madison’s work was supervised by G.F. McArthur, P.Geo. who verified the foregoing.

Madison is very pleased with the results of its first phase of work and will begin its next phase of work shortly.

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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