AEX: TSX-V

July 2, 2008

July 2, 2008 - Vancouver, British Columbia.  Appleton Exploration Inc. (TSXV:AEX) has arranged a non-brokered private placement offering of up to 5,000,000 units priced at $0.20 per unit, for gross proceeds of up to $1,000,000, subject to acceptance for filing by the TSX Venture Exchange.   Each unit is comprised of one common share and one warrant, with each warrant entitling the holder to acquire one additional common share at an exercise price of $0.30 per share, for one year.   If at any time during the period of the warrant the 20 day moving average of the market price of the shares exceeds $0.45 per share, the Company may request the exercise of the warrants.

Finder fees and/or commissions may be paid in accordance with TSX Venture Exchange policies.

Securities issued pursuant to the private placement are subject to a four month hold period.

Proceeds of the private placement financing will be used for exploration expenditures on the Company's British Columbian and Chilean projects and for general working capital.

On Behalf of the Board of Directors,
"R. Tim Henneberry"
R.Tim Henneberry, P.Geo.
President and CEO