PRESS RELEASE
October 2, 2006
MADISON CORPORATE UPDATE
Vancouver , British Columbia - Madison Explorations Inc.
(“Madison” or the “Company”) ( MDEX : OTC other) is pleased
to provide the following corporate update.
Madison Explorations, Inc. is a precious metals exploration company that
has identified and secured a number of potentially high value diamond
claims in southern Saskatchewan.
Updated Land Claims
The Madison land claims now consist of 73 secured claims covering over
42,000 hectares. Within this group of claims, Madison has designated 23
high priority anomalies for exploration.
Exploration of Big Blu
The Big Blu Anomaly was initially discovered in 2006 as a result of a
study of a recent Aeromagnetic Survey of southwest Saskatchewan. Big Blu
showed a very strong 90% negative Keating correlation, which is very different
than other targets in the area.
A Pipe Model for Big Blu conducted in June 2006 by Patterson, Grant and
Watson Limited of Toronto, Canada. In a recent geophysical study, Big
Blu revealed a strong anomaly in its Keating correlation, Total Magnetic
Intensity, First and Second Derivatives, and Analytic Signal.
During the last Phase of exploration, a single line of ground magnetics
again confirmed the presence of an anomaly. Big Blu is scheduled for advanced
geophysical study.
Joint Venture Partners
Madison currently has two joint venture partners Echo Resources Ltd and
Cobra Energy Inc. Cobra has a 15% interest in the Wood Mountain North
property, and Echo has a 15% interest in the Bulls-Eye property and a
15% equity interest in the Bronco Property.
Research Report Available
Madison had contracted Evans and Evans Inc of Vancouver to conduct a research
report on the company.
Madison Explorations, Inc. is a progressive mineral exploration company
focusing on the discovery of diamonds. The Company has a portfolio of
three highly prospective diamond properties located in one of Canada's
newest diamond exploration regions in Southern Saskatchewan.
On behalf of Madison Explorations, Inc. :
Kevin Stunder
President and Director
Joel Haskins
Chairman and Director
Safe Harbour Statement:
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts, contained in this release which are not historical facts, may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.
