Summary of MADISON EXPLORATIONS INC.

Item 4.01. Changes in Registrant's Certifying Accountant.

(a) Previous independent accountants

(i) On January 16, 2009, Kyle L. Tingle, CPA, LLC ("Tingle") resigned as the independent accountants of Madison Explorations, Inc. Tingle resigned due to the fact Tingle was precluded from performing the audit for December 31, 2008 as a result of auditing the prior five years of financial statements.

(ii) The report of Tingle on the financial statements for the two fiscal years ended December 31, 2007 and 2006, contained no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty or audit scope. The report of Tingle on the financial statements for the fiscal year ended December 31, 2007 and for the period from June 15, 1998 (Date of Inception) to December 31, 2007 contained an explanatory paragraph related to substantial doubt about the Company's ability to continue as a going concern.

(iii) Madison's Board of Directors did not recommend the decision to change independent accountants.

(iv) In connection with its audits for the fiscal years December 31, 2007 and 2006, and through January 16, 2009, there have been no disagreements with Tingle on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.

(b) New independent accountants

Madison engaged K. R. Margetson Ltd., Chartered Accountant as its new independent registered public accounting firm as of January 31, 2009. During the two years ended December 31, 2007 and 2006 and through January 31, 2009, Madison has not consulted with K. R. Margetson Ltd., Chartered Accountant regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed; (ii) the type of audit opinion that might be rendered on Madison's financial statements; (iii) any written or oral advice that may have been provided to Madison, which may have been an important factor considered by Madison in reaching a decision as to the accounting, auditing or financial reporting issue; or (iv) any matter that was the subject of a disagreement or event.