Madison Enters Into a Letter of Intent to Sell Its Garrington Alberta Property

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Madison Energy Corp. ("Madison") (TSX VENTURE:MDC) is pleased to report today
that it has entered into a letter of intent to sell its oil and gas holdings in
the Garrington area of Alberta to a third party, for gross proceeds of $4.5
million.


The sale will be effective October 1, 2009 and is expected to close on or before
December 30, 2009. The sale of Garrington is subject to the approval of the TSX
Venture Exchange and normal industry due diligence.


The proceeds from the sale will be used to enhance Madison's working capital and
for general corporate purposes. Following the sale, Madison will continue to
operate its oil & gas interests in the Meekwap and Giroux areas of Alberta and
the Antler/Sinclair area in Manitoba.


Madison is Canadian oil and gas exploration and development company
headquartered in Calgary, Alberta.


Advisory: This press release contains forward-looking statements subject to
certain risks and assumptions, which may cause performance in the future to vary
materially from this. Only statements of historical fact are free from such
variances.