Madison Minerals Inc.
TSX VENTURE : MMR
OTC Bulletin Board : MMRSF

Madison Minerals Inc.

December 13, 2007 09:01 ET

Madison Minerals Inc.: 2007 Drilling Expands Gold Mineralization at Lewis Property, Joint Venture to Acquire Property for $2 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 13, 2007) - Madison Minerals Inc. (TSX VENTURE:MMR)(OTCBB:MMRSF) -

Highlights

- DDH MAD-83 returns 6.92 g/t gold over 21.0 metres including 2.0 metres of 44.88 g/t gold confirming previous high-grade results.

- Step-out reverse circulation drilling expands size of virgin zone mineralization:

- RC104 - 3 metres of 3.32 g/t gold

- RC105 - 4.6 metres of 2.18 g/t gold

- RC110 - 10.66 metres of 3.12 g/t gold

Madison Minerals Inc. is pleased to report the initial third of the drill results (six core and ten RC holes) from the Phoenix Joint Venture 2007 drilling program at its Lewis Project within Nevada's Battle Mountain Mining District.

The Phoenix Joint Venture is comprised of Madison Minerals Inc. (60%) and Great American Minerals Inc. (40%). Based on prior results and the current excellent results described below, the joint venture has decided to exercise its option to complete its purchase of this property for the cash price of USD$2,000,000. Closing of this purchase is expected in December 2007, at which point the joint venture shall own full rights, title and interest in and to the Lewis Project, subject to the royalty described on page two of this release.

During the 2007 exploration program, the joint venture completed ten core holes (DDH-MAD83-92) totalling 2,480 metres and thirty-four RC holes (MAD100-133) totalling 7,356 metres. All holes were drilled within and along the Virgin Structural Zone. Core drilling was conducted to confirm previous Virgin Structural Zone RC drill results and to test the geological model. RC drilling expanded the Virgin Structural Zone mineralized area, 100 metres northward along strike to 600 metres extent and an additional 100 metres down dip to 300 metres extent, with both in-fill and step-out drilling.

Available results are presented in the attached schedule. Additional results from the remaining drill holes will be released when available. Further in-fill drilling is expected to provide a resource calculation in 2008.

The intervals reported utilize a 0.5 g/t cut-off and true widths have not been determined. Several intervals reported variable results due to coarse nuggetty gold.

Fieldwork was carried out under the supervision of Gerald McArthur, P. Geol., a "qualified person" for the purposes of National Instrument 43-101, who has verified the data disclosed in this news release. SGS Laboratories of Toronto, Ontario and TSL Laboratories in Saskatoon, Saskatchewan, carried out all analysis.

Madison has not yet received all of the ICP analytical results; however, from those results presently available, a favourable correlation between the silver, lead and zinc values and the gold mineralization is observed.

The Lewis Property is subject to a 5% gross royalty on gold or silver produced and a 4% net smelter returns royalty on all other metals, in respect of which, an advance minimum royalty of USD$60,000 per year is payable commencing on the exercise of the purchase option. These royalties can be purchased by the joint venture for the cash price of USD$4,000,000 for a period of one year following the exercise of the purchase option, the price thereafter increasing by USD$500,000 per annum on each anniversary of the date of exercise of the purchase option for a period of 35 years.

To find out more about Madison Minerals Inc. (TSX VENTURE:MMR)(OTCBB:MMRSF) please visit our website at www.madisonminerals.com.

On behalf of the Board of Directors of MADISON MINERALS INC.

Chet Idziszek, President

Cautionary Statement

This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration results and plans, and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, estimates of exploration investment and the scope of exploration programs. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with mineral exploration, price volatility in the mineral commodities we seek, and operational and political risks.



SCHEDULE

------------------------------------------------------------------------
Location From - To Interval
DDH # (N/E) Azimuth/Dip (m) (m) Gold (g/t)
------------------------------------------------------------------------
MAD-83(i) 29050/4600 45/-90 76-97 21 6.92
Including 79-81 2 44.88
------------------------------------------------------------------------
MAD-84 28775/4750 90/-65 100-103 3 1.03
------------------------------------------------------------------------
MAD-85 28770/4750 45/-65 110-182 2 1.44
176-182 6 5.5
Including 180-181 1 21.3
------------------------------------------------------------------------
MAD-86 29250/4700 90/-70 32-34 2 8.41
Including 32-33 1 15.4
73-78 5 0.87
82-84 2 1.78
------------------------------------------------------------------------
MAD-87 29300/5100 250/-70 62-64 2 1.64
------------------------------------------------------------------------
MAD-88 29300/5100 225/-65 92-94 2 1.23
107-110 3 0.93
------------------------------------------------------------------------

(i) MAD-83 confirms results from previous RC-MAD-81 (9.43 g/t gold over
13.7 metres from 85.4 - 99.1m) Madison's news release February 8/07.


------------------------------------------------------------------------
Location From - To Interval
RCH # (N/E) Azimuth/Dip (m) (m) Gold (g/t)
------------------------------------------------------------------------
MAD-100 30160/4325 90/-70 93-96.1 3.1 0.78
------------------------------------------------------------------------
MAD-101 30288/4335 90/-70 No significant results
------------------------------------------------------------------------
MAD-102 30056/4329 90/-70 93-100.6 7.6 0.98
------------------------------------------------------------------------
MAD-103 29957/4318 90/-70 117.3-121.9 4.6 0.67
------------------------------------------------------------------------
MAD-104 29957/4323 90/-50 54.9-58 3.1 3.32
88.4-93 4.6 0.77
------------------------------------------------------------------------
MAD-105 29271/4518 90/-70 59.4-62.5 3.1 1.05
67.0-70.1 3.1 1.11
76.2-85.3 9.1 1.85
134.1-138.7 4.6 2.18
------------------------------------------------------------------------
MAD-106 29271/4519 90/-50 64-67.1 3.1 2.83
70.1-74.7 4.6 2.04
80.8-86.9 6.1 2.06
103.6-106.7 3.1 0.90
123.4-126.5 3.1 1.28
160.0-163.1 3.1 3.36
------------------------------------------------------------------------
MAD-107 29371/4511 90/-70 88.4-91.5 3.1 0.92
114.3-117.4 3.1 2.66
------------------------------------------------------------------------
MAD-108 29373/4511 90/-50 35-38.1 3.1 0.73
77.7-83.8 6.1 1.59
94.5-99.1 4.6 1.57
------------------------------------------------------------------------
MAD-109 29500/4500 90/-80 149.4-154 4.6 1.75
------------------------------------------------------------------------
MAD-110 29500/4500 90/-60 74.7-85.4 10.7 3.12
------------------------------------------------------------------------



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