Madison Energy Corp.

Madison Energy Corp.

September 02, 2005 10:56 ET

Madison Sells Portion of Garrington Lands and Grants Options

CALGARY, ALBERTA--(CCNMatthews - Sept. 2, 2005) - Madison Energy Corp. (TSX VENTURE:MDC) ("Madison") announces that it has sold 30% of its Garrington undrilled lands for $60,000 and a 2.5% Gross Overriding Royalty in part of the lands. Madison anticipates the drilling of a well on these lands in the very near future.

Madison also announces the grant of an aggregate 625,000 options to directors and officers of the company. The options will be exercisable into common shares of Madison upon payment of $0.22 per share on or before September 1, 2010.

Madison is a Calgary-based corporation engaged in the acquisition, exploration and development of Canadian resource properties. Common shares of the company trade on the TSX Venture Exchange under the trading symbol "MDC".

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Madison Energy Corp.
    John Murdoch
    President and Director
    (403) 266-3453