NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Madalena, ("Madalena" or the "Corporation) (TSX VENTURE:MVN) on behalf of its
wholly owned subsidiary, Madalena Ventures International Inc., is pleased to
provide an additional update on the TT2 exploration well located on the Remada
Sud Permit in Southern Tunisia. The Corporation announces that the Schlumberger
stimulation equipment required to artificially fracture and production test
several zones of interest has been inspected and is anticipated to be on site by
early July, 2008 with testing to be conducted shortly thereafter. The Sud Remada
permit is located in the Ghadames Basin and is approximately 1.2 million acres
in size. Madalena has earned a 15% working interest in 600,000 acres on the Sud
Remada permit for the drilling of the TT 2 test well, and has the option to pay
30% of the costs of a second test well to earn an additional 15% working
interest in an additional 600,000 acres on the permit.


Madalena is also pleased to provide an update on the status of its operations in
the Province of Neuquen in Argentina, South America. On the Curamhuele block,
Madalena announces that equipment is currently on site to evaluate pressures and
potential productivity from two existing well bores drilled on the block during
the 1990's. Additional high pressure wellhead equipment was ordered and
installed as well as access road improvements in order to carry out the
evaluation. With this new information in conjunction with previous log and well
data, the Corporation and its partners are preparing plans for testing of
further intervals of interest in the same wellbore which were not previously
tested. At the Yapai x-1 well, operations are currently underway to allow for
unrestricted testing operations and the ability to obtain bottom hole pressures.
Information from these tests in conjunction with the upcoming 3D seismic will be
utilized to develop our exploration drilling strategy on this block. The 3D
seismic programs to be conducted on the Curamhuele and Coiron Amargo blocks are
proceeding on schedule. At Coiron Amargo the Corporation has identified several
prospective drilling locations which are in the process of being finalized with
partners and surveyed. The Corporation is in negotiations for a drilling rig for
a multi-well drilling program.


Madalena announces that it has withdrawn from the business to be considered at
its upcoming annual and special meeting of shareholders the resolution to
consolidate its common shares on up to a ten-for-one basis. This business item
is set out as a resolution 4 of the Instrument of Proxy and item (d) of the
Notice of Annual and Special Meeting and Information Circular dated May 26, was
intended to provide the Board of Directors with the option to implement the
consolidation if considered beneficial to the shareholders at a future point in
time dependent upon market conditions. Based on feedback received from
shareholders, this item will be withdrawn from the annual proxy statement.
Madalena also announces that it has filed amended Form 52-109 Certificate of
Annual Filings - CEO, and amended Form 52-109 Certificate of Annual Filings -
CFO with respect to the revised Annual Information Form for the year ended
December 31, 2006 which it filed August 3, 2007, on the System for Electronic
Document Analysis and Retrieval ("SEDAR").


About Madalena

Madalena is a publicly traded international junior Canadian oil and gas
exploration company trading on the Toronto Venture Stock Exchange under the
symbol "MVN". The Company has assets in Canada, Tunisia and Argentina and is
actively evaluating international oil and gas opportunities with a primary focus
on South America and North Africa.


MADALENA VENTURES INC.

On behalf of the Board

Ken Broadhurst, President

Forward Looking Statements

Certain information set forth in this press release, including a discussion of
future plans and operations, contains forward looking statements that involve
substantial known and unknown risks and uncertainties. These forward-looking
statements are subject to numerous risks and uncertainties, some of which are
beyond management's control, including but not limited to, the impact of general
economic conditions, industry conditions, fluctuation of commodity prices,
fluctuation of foreign exchange rates, environmental risks industry competition,
availability of qualified personnel and management, stock market volatility,
timely and cost effective access to sufficient capital from internal and
external sources, as well as risks inherent in operating in foreign
jurisdictions, including varying judicial or administrative guidance on
interpreting rules and regulations and a higher degree of discretion on the part
of governmental authorities. Actual results, performance or achievement could
differ materially from those expressed in or implied by these forward-looking
statements.


This news release does not constitute an offer to sell or the solicitation of
any offer to buy the securities in any jurisdiction. The Common Shares will not
be and have not been registered under the United States Securities Act of 1933
and may not be offered or sold in the United States, or to a U.S. person, absent
registration, or an applicable exemption therefrom.
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