Vancouver, BC – July 14, 2008 – Appleton Exploration Inc. (AEX:TSXV) (the “Company”) is pleased to announce that it has negotiated a private placement with Canaccord Capital Corporation (the “Agent”) of 10,000,000 units (the “Units”) at a price of $0.20 per Unit (the “Offering”). A Unit will consist of one common share and one common share purchase warrant (a “Warrant”). Each whole Warrant will entitle the holder to subscribe for one additional common share at a price of $0.30 for a period of 12 months from the date of closing. If at any time during the period of the warrant the 20 day weighted average of the market price of the shares exceeds $0.60 per share, the Company may request the exercise of the warrants.

As consideration to the Agent, the Company will pay a commission of 8.0% of the total proceeds raised upon closing and will issue Agent's warrants ("Agent's Warrants") equal to 10.0% of the Units issued pursuant to this Offering. Each Agent's Warrant will be exercisable to acquire one common share at a price of $0.25 for a period of 24 months from the date of closing. In addition, Canaccord will receive a corporate finance fee. Finders’ fees may be paid in accordance with TSX Venture Exchange policy.

The net proceeds raised from the Units will be used to fund exploration of its mineral properties in Chile and for general working capital. Completion of the placement is subject to the approval of the TSX Venture Exchange. Securities issued pursuant to the private placement are subject to a four month hold period.

For further information, please contact:
On Behalf of the Board of Directors,
R.Tim Henneberry, P.Geo.
President and CEO

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

NOT FOR DISSEMINATION IN THE UNITED STATES OR VIA U.S. NEWSWIRE SERVICES.