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December 22, 2008 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V : AEX) has completed the Phase I explor ation program of mapping, sampling and trenching at the Julia copper manto project northeast of Copiapo, Chile. Appleton had entered into an option agreement to earn a 100% interest in the property, subject to a 2% net smelter return royalty. The agreement has been terminated.

The Julia property was being explored for copper mantos hosted within a 10 kilometre long agglomerate – lapilli tuff unit. Mineralization consists primarily of the copper oxide mineral chyrsocolla locally accompanied by chalcocite. The mapping and sampling has identified three areas of bedrock copper mineralization on the Julia property: the Mariel area, the Central area
and the South area. The Phase I mapping and sampling program covered 7 kilometers of the 10 kilometre trend.

In the Mariel area, a single manto has been traced almost continuously for a strike length of 1300 metres. The north end appears to end in very weakly disseminated copper mineralization while the southern end is open to the south. The manto width varies from less than 1 metre to approximately 3.0 metres but averages about 1.5 metres. Mineralized contacts are sharp. Locally, structures (faults or shears) are present that may have had some control on the localization of mineralization. Thirteen hand trenches spaced roughly 60 to 200 metres apart were established across the manto in the Mariel area. Results are presented in the table below. All samples reported in the table are composited bedrock chip samples. Individual chip samples reached a high of 4.171% Cu over 0.50 metres.

 

Mariel Trenching Results
Trench
% Cu
Width ( m )
CH 08-01
0.298
4.0
CH 08-04
0.618
3.4
TR 08-01
0.006
5.0
TR 08-02
0.640
4.0
TR 08-03
0.022
8.0
TR EB-01
1.071
2.0
TR EB-02
0.872
5.1
TR EB-03
0.415
2.6
TR EB-04
0.401
2.5
TR EB-05
0.345
5.8
TR EB-06
0.371
3.0
TR EB-07
0.781
3.2
TR EB-08
1.196
3.4


In the Central area, two sub-parallel mantos, have been traced semi-continuously for at least 900 metres. The mantos appear to lie at the top of agglomerate – lapilli tuff unit. The manto widths vary from less than 1 metre to 3 metres. Four hand trenches roughly 400 metres apart crossed the west (Central W) and east (Central E) mantos in the Central area. Results are reported in the table below. All samples reported in the table are composited bedrock chip samples. Individual chip samples reached as high as 1.395% Cu across 1 metre.

Central Area Trenching Results
Trench
Zone
% Cu
Width (m)
TR 08-04
Central W
0.589
4.0
CH 08-06
Central W
1.107
2.0
TR 08-04b
Central E
0.866
2.0
CH 08-05
Central E
0.035
3.0

 

The mapping and sampling program was implemented and supervised by Steve Butrenchuk, P. Geol. with the assistance of Ed Balon, P.Geo. Both Mr. Butrenchuk and Mr. Balon are Qualified Persons as defined in National Instrument 43-101. QA/QC protocols of standards and blanks were incorporated in the sampling program. Assaying was completed by Acme Analytical Laboratories S.A. in Santiago, Chile.

 

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
Contact Financial Corp.
604.689.7422 | Toll Free 1.877.689.7411

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

November 20, 2008 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V: AEX) reports that Terry Kirby has stepped down as a director of the Company. The Board of Direc tors would like to thank him for his services to the Company.

 

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
Contact Financial Corp.
604.689.7422 | Toll Free 1.877.689.7411

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

November 14, 2008 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V : AEX) reports that it has granted 620,000 stock options to directors, officers, and consultants of the Company, at an exercise price of $0.20 per share, expiring on November 14, 2013, subject to the terms and conditions of the Company’s stock option plan.

Further to the Company’s news release dated September 26, 2008 announcing the closing of the sale of 5,025,000 units of the Company, which comprised the first tranche of a brokered private placement with Canaccord Capital Corpo ration of up to 10,000,000 units at $0.20 per unit, the Company reports that there will be no additional closings.

 

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
Contact Financial Corp.
604.689.7422 | Toll Free 1.877.689.7411

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

Vancouver, BC – September 26, 2008 – Appleton Exploration Inc. (AEX-TSX:V) (the "Company") is pleased to announce that it has closed the first tranche of a brokered private placement announced on July 14, 2008 with Canaccord Capital Corporation ("Canaccord" or the “Agent”) consisting of 5,025,000 units (the "Units") at a price of $0.20 per Unit for gross proceeds of $1,005,000 (the “Offering”). Each Unit consists of one common share and one common share purchase warrant (a "Warrant"). Each Warrant entitles 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. Subject to certain conditions, the Company is entitled to provide 30 day notice of an accelerated expiry date for the Warrants, should the 20 day weighted average trading price of the Company’s shares during the term of the Warrant exceed $0.60 per share.

As consideration to the Agent, the Company has paid a commission of 8% of the total proceeds raised and issued 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, C anaccord has been paid a corporate finance fee.

The securities are subject to a four month hold period from the date of closing.

The net proceeds raised from the Units will be used to fund exploration of its mineral properties in Chile.

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.

August 21, 2008 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V : AEX) has uncovered three additional high priority low sulphidation epithermal precious metal targets from its 2008 excavator trenching program on its Dora epithermal gold property, part of its Spences Bridge Gold Project, south of Merritt, B.C. Bedrock chip sampling from the June 2008 trenching program has returned values of 2.54 grams per tonne (gpt) Au over two metres in the F1 Zone, 2.74 gpt Au over four metres in the F2 Zone and 0.622 gpt Au over three metres in the EB Zone, to compliment the previously reported 0.919 gpt Au over six metres in the G1 Zone from the 2007 program.

The Phase I 2008 exploration program concentrated on five areas, following up on gold-in-soil anomalies described in news release 08-04 dated February 28, 2008. The program consisted of detailed prospecting of the soil grid, continuous soil channel sampling and bedrock excavator trenching.

The F1 Zone was discovered by following up the grid soil geochemistry. Three excavator trenches and 5 bedrock chip lines were completed over an area of 180 metres by 25 metres. The sampling concentrated on a brecciated and intensely silicified rhyolite dome ranging from 1 to 25 metres in width. Sulphide content ranges from trace to 3%, predominantly pyrite. The centre part of the F1 Zone yielded bedrock gold values in excess of 1 gpt from three east-west sample lines 10 and 20 metres apart. Chip sampling returned 1.23 gpt over one metre, 2.54 gpt over two metres and 1.20 gpt over one metre.

Excavator trenching in the F2 Zone followed up on earlier continuous soil channel sampling that included 19 metres at 2993 ppb Au. Three trenches totalling 92 lineal metres were opened in 2008. Again, silicified and brecciated rhyolite and andesite bedrock was encountered. One trench identified a four metre section with individual one metre samples ranging from 243 ppb Au to 7.86 gpt Au, averaging 2.74 gpt Au, verifying the earlier continuous soil channel trenching results.

Prospecting of mid-level anomalous gold-in-soil values lead to the discovery of the EB Zone at the northern end of anomaly G by following up chalcedonic quartz float. Excavator trenching located a series of epithermal chalcedonic quartz veins, originally described in news release 08- 08 dated June 13, 2008. Twenty-one of the seventy-two continuous one metre bedrock chip samples returned values in excess of 100 ppb Au. One 3-metre interval averaged 0.622 gpt Au.

Two excavator trenches tested the A2 zone, an area of altered andesite. Continuous one metre bedrock chip sampling highlighted a six metre section averaging 0.329 gpt Au, including 0.708 gpt over 1.5 metres. This higher grade section contained thin quartz stringers.

The F1 Zone is roughly 400 metres north of the F2 Zone along linear soil anomaly F. The EB Zone is about 800 metres north of the G1 Zone along linear soil anomaly G. Linear soil anomalies F and G are sub-parallel and lie approximately 600 metres apart.

The success of the 2008 Phase I excavator trenching program in the F1, F2 and EB zones, combined with the earlier success of the 2007 Phase II excavator program in the G1 zone (see news release 08-02 dated January 15, 2008) has generated several high priority low sulphidation epithermal gold targets on the Dora Property. The Company plans to drill test the best zones
later in the fall.

The 2008 Spences Bridge Gold Belt project program was conducted by Steve Butrenchuk, P.Geol., under the supervision of R. Tim Henneberry, P.Geo. Mr. Butrenchuk and Mr. Henneberry are both Qualified Persons as defined in National Instrument 43-101. All assaying was conducted by Eco Tech Laboratories Ltd. in Kamloops, British Columbia. QA/QC protocols, including duplicates and standards, were employed.

 

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
Contact Financial Corp.
604.689.7422 | Toll Free 1.877.689.7411

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

July 31, 2008 - Vancouver, British Columbia. Appleton Exploration Inc. (TSXV:AEX) reports the Company has closed the final tranche of a non-brokered private placement offering of 1,500,000 units, priced at $0.20 per unit, for gross proceeds of up to $300,000, previously announced on July 14, 2008. At the closing of the final tranche, the Company issued 150,000 units for proceeds of $30,000. Each unit is comprised of one common share and one warrant, with each whole warrant entitling the holder to acquire one additional common share at an exercise price of $0.30 per share, prior to July 30, 2009. 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.

Securities issued pursuant to the final tranche of the private placement are subject to a four month hold period until December 1, 2008.

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

 

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
Contact Financial Corp.
604.689.7422 | Toll Free 1.877.689.7411

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

July 25, 2008 - Vancouver, British Columbia. Appleton Exploration Inc. (TSXV:AEX) reports the Company has closed the first tranche of a non-brokered private placement offering of 1,500,000 units, priced at $0.20 per unit, for gross proceeds of up to $300,000, previously announced on July 14, 2008. In the first closing the Company has completed the issuance of 1,350,000 units for gross proceeds of $270,000. Each unit is comprised of one common share and one warrant, with each whole warrant entitling the holder to acquire one additional common share at an exercise price of $0.30 per share, prior to July 24, 2009. 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.

Securities issued pursuant to the private placement are subject to a four month hold period until November 25, 2008.

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

 

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
Contact Financial Corp.
604.689.7422 | Toll Free 1.877.689.7411

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

July 14, 2008 - Vancouver, British Columbia. Appleton Exploration Inc. (TSXV:AEX) reports the Company has amended the non-brokered private placement offering previously announced on July 2, 2008, to decrease the number of units offered from 5,000,000 units to 1,500,000 units, priced at $0.20 per unit, for gross proceeds of up to $300,000, subject to acceptance for filing by the TSX Venture Exchange. Each unit is comprised of one common share and one warrant, with each whole warrant entitling the holder to acquire one additional common share at an exercise price of $0.30 per share, for a period of one year 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.

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 Columbia projects and for general working capital.

In an unrelated matter, Terry Kirby has been appointed to the Board of Directors effective immediately. Mr. Kirby brings public company experience to the Board, having previously served as an officer and/or director of several mineral exploration companies with properties in British Columbia and Mexico. A Vancouver-based businessman, Mr. Kirby has also served as an executive officer of industrial service sector companies.

 

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
Contact Financial Corp.
604.689.7422 | Toll Free 1.877.689.7411

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

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.

 

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
Contact Financial Corp.
604.689.7422  |   Toll Free 1.877.689.7411

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

June 30, 2008 - Vancouver, British Columbia. Further to its news release of March 4, 2008, whereby Appleton Exploration Inc. (TSX-V: AEX) announced that it had entered into a letter of intent for the purpose of acquiring the Chilean subsidiary of ProElement Resources Corp. (“ProElement”), Appleton has now entered into an assignment agreement (the “Agreement”) on the Julia and Perth/Caliza properties in Region III of Chile, terminating the original agreement dated March 4, 2008.

Under the terms of the Agreement, Appleton will earn a 100% interest, subject to 2% Net Smelter Return (NSR) royalties in the properties by making cash payments directly to the Chilean vendors of the respective properties totaling US$2,059,000 and by issuing 2,000,000 common shares to ProElement over two years under the following schedule, subject to TSX Venture Exchange approval:


Cash Payments:

  • $100,000 payable on or before the date of signing of this agreement;
  • $509,000 on or before the first anniversary of the Effective Date; and
  • $1,450,000 on or before the second anniversary of the Effective Date.


Share Payments:

  • 1,000,000 common shares of Appleton issuable on or before the date that is the later of 5 business days from the Effective Date or the date of TSX Venture Exchange Approval;
  • 500,000 additional common shares of Appleton issuable on or before the first anniversary of the Effective Date; and
  • 500,000 additional common shares of Appleton issuable on or before the second anniversary of the Effective Date.



The cash payments are directly tied to the various underlying property agreements negotiated by ProElement with the Chilean Vendors. Should any of the properties be dropped, the cash payments will be adjusted accordingly.

Two of the three parcels comprising the Julia property are subject to 2% NSR royalties. Appleton can purchase these royalties in their entirety for an aggregate consideration of $4 million at any time within the next 72 to 84 months from the date of the option agreement. The third Julia parcel has no NSR associated with it. The two Perth/Caliza parcels are subject to 2% NSR royalties. Appleton can purchase the entire royalty of one parcel for $100,000 at any time within the next 36 months. The NSR royalty on the sec ond parcel has no buyout provision.

The Agreement is subject to a title opinion in a form acceptable to Appleton confirming that ProElement has good and marketable title to the Properties.

Technical due diligence on the properties has been carried out under the direction and supervision of Steve Butrenchuk, P.Geol., an independent Qualified Person as defined in National Instrument 43-101. The due diligence program consisted of preliminary mapping and verification sampling. QA/QC protocols of standards and blanks were incorporated in the sampling program. Assaying was completed by Acme Analytical Laboratories S.A. in Santiago, Chile.

The Julia property hosts agglomerate-hosted copper mantos. Artisanal workings 4.5 kilometres apart are located on copper mantos within an 8 kilometre long continuous, agglomerate – lapilli tuff unit.

Enami (the exploration arm of Chile’s national copper company) examined the property in 1970, completing geological mapping and drainage and contour soil sampling. This soil sampling shows elevated copper values down slope of the agglomerate – lapilli tuff along the entire 8 kilometre length of the unit tested by Enami. This program also showed elevated copper soil values associated with additional agglomerate – lapilli tuff units higher in the volcanic sequence.

Historical chip and grab sampling returned values ranging from 1.37% to 5.19% total copper. Appleton verification rock chip and rock grab sampling of the mantos returned values ranging from 0.79% to 4.47% copper, with 21 of the 26 samples returning values in excess of 1% copper. Sampling concentrated on a 1 kilometre long manto near the northern end of the agglomerate –lapilli tuff and a 1.8 kilometre long manto in the central part of the property. Further exploration may show these two mantos are in fact one continuous manto.

The Perth/Caliza property hosts iron oxide copper-gold (IOCG) vein swarms within a metamorphic terrain proximal to a granite batholith. Artisanal workings are found throughout the area. Historic grab rock sampling returned values ranging from 0.01 to 10.7 grams per ton gold and 0.02% to 1.7% copper. Appleton verification rock chip and rock grab sampling returned values ranging from 0.04 gpt to 13.8 gpt gold and 86 ppm to 10,000 ppm copper (0.009% to 1%). One sample returned a value of 57.4 gpt gold. Fourteen of the 83 samples taken returned values greater than 10,000 ppm copper (> 1% Cu). Copper assays for these fourteen samples are pending. Cobalt values ranged from 20 to 2000 ppm.

 

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
Contact Financial Corp.
604.689.7422 Toll Free 1.877.689.7411

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

June 13, 2008 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V : AEX) has discovered epithermal quartz veining in its on-going excavator trenching program on its Dora epithermal gold property, as part of its Spences Bridge Gold Project, south of Merritt, B.C. Trench DO-08-12 at anomaly G1 north, unearthed a series of five parallel chalcedonic quartz veins across a width of 18 metres. The individual veins range in width from 0.5 to 2.1 metres. Two of the five veins display weak banding, a common characteristic of epithermal veins. Continuous rock chip sampling is in progress. Excavator trenching in anomaly G1 north
continues.

A total of 11 excavator trenches have been completed to date: two in anomaly G1 north, three in anomaly F1, three in anomaly F2, one in anomaly F3 and two in anomaly A2. These anomalies have been described in news release 08-04 dated February 28, 2008. Geological mapping and continuous rock chip sampling of the individual excavator trenches continues. Samples from a number of these trenches are now at the lab with assay results pending.

The trenching is expected to be completed by the end of June. It is anticipated that high priority targets generated in 2007 as well as those generated from this 2008 trenching program will be drill tested in the fall.

The 2008 Spences Bridge Gold Belt project is being conducted by Steve Butrenchuk, P.Geol., under the supervision of R. Tim Henneberry, P.Geo. Mr. Butrenchuk and Mr. Henneberry are both Qualified Persons as defined in National Instrument 43-101. All assaying will be conducted by Eco Tech Laboratories Ltd. in Kamloops, British Columbia. QA/QC protocols, including duplicates and standards, will be employed.

Expenditures for the Company’s Spences Bridge Gold Belt project continue to be partially funded through a private placement by the MineralFields Group, a Toronto-based fund. Information about the MineralFields Group is available at www.mineralfields.com.

In an unrelated matter, Rolland Menard has resigned as a director of the Company. Mr. Menard was one of the initial co-founders of Appleton and will remain as an Advisor to the Company.

 

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
Contact Financial Corp.
604.689.7422 |  Toll Free 1.877.689.7411

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

June 5, 2008 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V : AEX) ha s retained Contact Financial Corp. to provide investor relations services to the Company, effective June 1, 2008, subject to TSX Venture Exchange approval. Contact will be paid $8,000 per month for an initial term of six months, renewable month to month after the initial term, and will also be granted 200,000 incentive stock options at an exercise price of 30 cents per share. The options are valid for five years and will vest quarterly over a period of 12 months, pursuant to Appleton’s stock option plan.

Contact Financial is a Vancouver-based investor relations firm that enhances communication between clients and their existing shareholders, and also introduces potential new shareholders, both retail and professional.

Appleton has recently terminated its investor relations contract with Marketsmart Communications Inc.

Appleton Exploration Inc. is a Vancouver based mineral exploration company currently exploring the Dora and Stobart / Fame epithermal gold properties in the Spences Bridge Gold Belt of southern British Columbia. Further information on these projects can be found on the Company website: www.appletonexploration.com.

 

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
MarketSmart Communications:
(604) 261-4466  |   Toll Free: 1-877-261-4466

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

March 4, 2008 - Vancouver, British Columbia. Appleton Exploration Inc. has signed a Letter of Intent to acquire the Chilean subsidiary of ProElement Resources Corp. which contains three precious metal or base metal properties in Region III of Chile, located near the city of Copiapo.

Julia

Julia is a conglomerate hosted copper manto. The conglomerate has been traced for a distance of at least 6 kilometres and ranges from 1 metre to over 30 metres in width. Limited grab rock sampling conducted for ProElement returned values ranging from
1.37% to 5.19% total copper. The soluble or oxide portion of the copper ranged from 1.14% to 4.26% copper. Analyses for gold and silver were not included in the data provided.

Garin
Garin is a bulk tonnage silver- copper + lead +zinc stockwork and vein property. The property lies in the Garin Silver District, host to several old producers. Grab rock sampling conducted for ProElement returned values ranging from 1 to 1385 grams per tonne silver, 0.01% - 5.71% copper, 0.01% - 4.31% lead and 0.01% - 4.37% zinc.

Perth Caliza
Perth Caliza is an iron oxide copper-gold property. The property consists of intense vein swarms associated with a metamorphic terrain proximal to a granite batholith. This area also hosts a number of old workings. Grab rock sampling conducted for ProElement returned values ranging from 0.01 to 10.7 grams per ton gold and 0.02% to 1.7% copper.

The rock sampling undertaken and reported on the three projects was not completed by a Qualified Person as defined in NI 43-101, nor has the data been verified and should not be relied upon. Appleton’s in house and independent Qualified Persons will be travelling to Chile to commence the property due diligence review on March 6th. This review will include verification of the sampling completed for ProElement.

Under the terms of the agreement, Appleton will issue 3,000,000 common shares in the capital of the Company, at a deemed price of $0.15 per share, to ProElement for a 100% undivided interest in ProElement’s Chilean subsidiary company, which holds the exploration concessions and exploitation concessions comprising the three properties.

The agreement is subject to:

  1. A title opinion confirming ProElement ownership of the concessions;
  2. A successful conclusion to a 60 day due diligence review of the titles and property by Appleton and corporate review by ProElement;
  3. Completion of a minimum $500,000 financing by Appleton; and
  4. Approval and acceptance by the TSX Venture Exchange

 

 

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
MarketSmart Communications:
(604) 261-4466  |   (Toll Free 1-877-261-4466)

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

February 28, 2008 - Vancouver, British Columbia. Appleton Exploration Inc. has now received all of its 2007 assay results from its Spences Bridge Gold Belt Project. The Company is reporting the Dora property soil channel trenching results, the Stobart property soil grid results and the Fame excavator trenching results. The Company is exploring the various properties of its Spences Bridge Gold Belt Project for low sulphidation epithermal gold.

Dora

Based on the earlier success of its hand soil channel trenching program on the gold-in-soil Anomaly G (see news release dated September 24, 2007), the Company employed the same technique on gold-in-soil anomalies D, E and F. Soil trenches through the “B” horizon were sampled in 1 metre continuous intervals. The purpose of the soil trenching was to optimize positioning and orientation of subsequent bedrock excavator trenching over strong gold-in-soil anomalies.

The late fall 2007 soil trenching outlined strong gold values on Anomalies E and F. Anomaly E was explored by placing two sets of 2 crossing soil trenches 70 metres apart centred on the anomaly. Trench 07-E-01A returned a 13 metre interval averaging 393 ppb Au. Trench 07-E-1B returned an 8 metre interval averaging 159 ppb Au and a second 6 metre interval averaging 310 ppb Au. Trench 07-E-02A returned a 14 metre interval averaging 1014 ppb Au and included a 4 metre section averaging 3110 ppb Au. Trench 07-E-02B returned a 14 metre interval averaging 714 ppb Au. The results have been interpreted to represent a north trending gold-bearing structure that is at least 10 metres wide and 70 metres long where elevated gold-in-soil average 666 ppb Au.

Two trenches cross each other and are centred over Anomaly F. Trench 07-F-2A returned a 19 metre interval averaging 2993 ppb Au and included a 6 metre interval averaging 7356 ppb Au. Trench 07-F-2B returned an 18 metre interval averaging 905 ppb Au and a second 17 metre interval averaging 633 ppb Au. These results have been interpreted to represent another north trending gold-bearing structure that is at least 11 metre wide and 25 metre long with elevated gold-in-soil averaging 1976 ppb Au.

Collectively, this new data supports 3 strong north trending parallel anomalies, which will be followed up by trenching and drilling this year.

Stobart

Appleton was successful in finding two sub-parallel epithermal quartz veins on its Stobart property as reported in a news release dated January 7, 2008. A 2.0 kilometre by 1.7 kilometre soil grid, established over the Hamm vein area successfully identified four parallel northeast trending gold-in-soil anomalies, A through D, one of which appears to be the Rob vein. These anomalies range in length from 300 metres to 1100 metres, with three of them lying in a 600 metre by 800 metre area in the northwest corner of the grid.

Fame
The Fame property was originally explored in the late 1980’s, with four showings located along the + 2 kilometre Kelsch Lineament: Twilight, Discovery, Double D and Kelsch. Along with bleaching and silicification, drusy quartz veins and veinlets exhibiting typical epithermal textures were noted at these showings. Appleton bedrock chip sampling from 2006 and early 2007 returned values from 35 ppb to 160 ppb Au on the Double D zone and 845 ppb Au and 1650 ppb Au from the Kelsch zone.

The Company completed a small soil survey and eight excavator trenches, concentrating on the Kelsch and Double D zones. None of the three trenches in the Kelsch zone reached bedrock. Bedrock exposure ranged from 45% to 86% in the 5 Double D zone trenches. Bedrock consisted of weakly to strongly bleached, oxidized and silicified volcaniclastics. Local quartz pods and veinlets were encountered. All samples consist of 1 metre continuous bedrock chips. Values ranged from 15 to 810 ppb Au. A continuous 4 metre interval averaged 400 ppb Au in one trench. A continuous 5 metre interval averaged 460 ppb Au in another trench. The results suggest the presence of epithermal gold mineralization in the Double D zone. Further work is required to zero in on zones of stronger mineralization within the zone.

Appleton has 100% ownership of the Dora and Stobart properties, subject to a 1.5% NSR royalty. Appleton is earning an undivided 100% interest, subject to a 2.5% NSR, in the Fame 1-3 claims.

The 2007 Spences Bridge Gold Belt project was directed by Steve Butrenchuk, P.Geol., under the supervision of R. Tim Henneberry, P.Geo. Mr. Butrenchuk and Mr. Henneberry are both Qualified Persons as defined in National Instrument 43-101. All assaying was conducted by Eco Tech Laboratories Ltd. in Kamloops, British Columbia. QA/QC protocols including duplicates and standards were employed by Appleton.

Expenditures for the Company’s Spences Bridge Gold Belt project were partially funded through a private placement by the MineralFields Group, a Toronto-based fund. Information about the MineralFields Group is available at www.mineralfields.com.

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
MarketSmart Communications:
(604) 261-4466  |   (Toll Free 1-877-261-4466)

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

February 7, 2008 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V: AEX) has entered into a business and financial advisory services agreement with Forest Hill Partners Ltd., of the Fraser Valley, British Columbia, subject to acceptance for filing by the TSX Venture Exchange. Pursuant to the terms of the agreement, Forest Hill will act as a nonexclusive business and financial advisor to the Company for an initial three month period, renewable for further two month terms, at a fee for services of $2,500 per month. The agreement may be terminated by either party upon 30 days written notice.

Forest Hill Partners, Ltd. is an employee-owned investment and merchant banking firm based in the Fraser Valley. Specializing in providing growth finance to growth companies, Forest Hill is experienced in corporate finance, shareholder and management buyouts, mergers and acquisitions, recapitalizations, divestitures and other special situations.

Forest Hill will advise and assist Appleton in locating one or more brokers to provide market support; advise and assist in the procurement of an investor relations firm to work with the Company; advise and assist as required in the arrangement of financings;
provide the Company with strategic advice with respect to marketing of any transactions to investors; and assist with the drafting of documentation including press releases as required.

Appleton will pay Forest Hill a success fee equal to five percent of the gross proceeds of each financing completed by Appleton, which results from an introduction by Forest Hill within the term of the agreement or at any time within 24 months of termination of the agreement. In addition, Appleton will pay a procurement fee of $12,500 and grant 50,000 stock options to Forest Hill in the event that Appleton enters into an agreement with an investor relations firm, which has resulted from an introduction by Forest Hill.

 

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
MarketSmart Communications:
(604) 261-4466  |   (Toll Free 1-877-261-4466)

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

January 7, 2008 - Vancouver, British Columbia. Appleton Exploration Inc. has received the assay results for the bedrock sampling program on its Stobart property, part of its Spences Bridge Gold Belt Project. As reported in an October 10, 2007 news release, Appleton sampled two quartz veins displaying typical epithermal textures.

The northeast trending, 1-2 metre wide Hamm vein, discovered by previous operators, has been traced for 60 metres through four outcrop exposures. Each exposure was sampled in one metre chips and found to be consistently gold-bearing. The vein returned assay values of 380 parts per billion (ppb) gold, 5 ppb Au, 380 ppb Au and 1480 ppb Au, from southwest to the northeast, respectively. An additional sample 120 metres to the south returned a value of 1040 ppb Au from a vein that may be the faulted southern extension of the Hamm vein or may represent an additional vein.

The 1 metre wide parallel Rob vein, 150 metres to the northwest, has been traced for 15 metres through two outcrop exposures. Each exposure was sampled in one metre chips and found to be consistently gold-bearing. The two vein exposures reported 880 ppb Au and 1180 ppb Au.

The association of anomalous amounts of mercury and tellurium with the gold support an epithermal origin for these veins.

Expenditures for the Company’s Spences Bridge Gold Belt project were partially funded through a private placement by the MineralFields Group, a Toronto-based fund. Information about the MineralFields Group is available at www.mineralfields.com.

Appleton is awaiting additional assay results from its extensive 2007 Spence Bridge Gold Belt project that includes the Dora and Stobart properties.

A program of mechanical bedrock trenching and sampling is in the planning stages for spring 2008.

 

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
MarketSmart Communications:
(604) 261-4466  |   (Toll Free 1-877-261-4466)

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

December 6, 2007 - Vancouver, British Columbia. Appleton Exploration Inc. is pleased to announce the first assay results from the 2007 excavator trenching program on the its wholly owned low sulphidation epithermal gold Dora exploration property in the Spences Bridge Gold Belt. A total of 554 lineal metres of excavation was completed resulting in 22 trenches. The 22 trenches explored 3 gold-in-soil anomalies reported in a November 14, 2007 news release. The trenches tested for the bedrock sources of epithermal mineralization underlying the gold-in-soil anomalies.

Complete assay results have been received from trenches 07-07 and 07-08, two of the 15 trenches testing gold-in-soil Anomaly “G” south, where earlier channel soil trenching returned continuous sections of 39 metres averaging 178 ppb Au from soil trench 1 and continuous sections of 38 metres averaging 378 ppb Au and 34 metres averaging 83 ppb Au from soil trench 2, as reported in a news release dated September 24, 2007.

Trench 07-07 was 38 metres long, cutting across the central section of soil grid anomaly “G” between the two soil channel trenches. One metre continuous chip samples were taken where bedrock was encountered (70% of the trench length). Sampling tested a weakly to strongly bleached, oxidized and silicified andesite with some quartz stringers. Gold values in the trench ranged from 9 ppb to 1.38 grams per tonne. Within the trench a 6 metre continuous interval averaged 0.919 grams per tonne gold. In addition, a one metre interval reported 1.02 grams per tonne.

Trench 07-08, was 25 metres long, lying immediately south of the eastern section of soil channel trench 2 on gold-in-soil anomaly “G”. Approximately 75% of the trench length reached bedrock. Sampling tested a weakly to strongly silicified andesite with some quartz stringers. Gold values in trench 07-08 ranged from 11 ppb to 761 ppb. Trench 07- 08 is located 50 metres southwest of Trench 07-07.

The 2007 Dora exploration program was completed under the direction of Steve Butrenchuk, P.Geol., a Qualified Person as defined in National Instrument 43-101. All assaying was conducted by Eco Tech Laboratories Ltd. in Kamloops, British Columbia. QA/QC protocols including duplicates and standards were employed by Appleton.

Expenditures for the Company’s Spences Bridge Gold Belt project were partially funded through a private placement by the MineralFields Group, a Toronto-based fund. Information about the MineralFields Group is available at www.mineralfields.com.

Appleton’s management continues to be encouraged with the 2007 exploration results in its quest for epithermal gold in the Spences Bridge Gold Belt. The Company expects to initiate a 1500 metre diamond drill program once all trench assays have been received and compiled.

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
MarketSmart Communications:
(604) 261-4466  |   (Toll Free 1-877-261-4466)

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

November 14, 2007 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V.AEX)  as completed the 2007 phase II exploration program at its wholly owned Dora gold Property in the Spences Bridge Gold Belt. The Phase II program had three components: soil geochemistry, soil channel trenching and excavator trenching.

Initial grid soil geochemistry identified six substantial cross-cutting gold-in-soil anomalies: A through F. Subsequent field investigation identified a seventh anomaly, designated G. A further 20 line kilometres of 25 metre spaced grid soil geochemical sampling was completed to test the southern extension of Anomaly G and the western extension of Anomaly D.

A further 480 lineal metres of continuous 1 metre channel soil geochemical sampling was completed in 7 trenches, testing several of the elevated  gold-in-soil values along anomalies A, D, E and F.

A total of 22 excavator trenches were established during the program, totalling 554 lineal metres. Four hundred and fifteen bedrock chip samples were collected. Trenching was concentrated in three areas, following up on gold-in-soil geochemistry and prospecting: Anomaly G south, Anomaly G north and the Anomaly A – Anomaly E junction area.

Fifteen trenches were established in a 150 metre wide by 200 metre long section of Anomaly G south following up on the continuous gold-in-soil zones identified by channel soil trenching, as reported in the news release dated September 24, 2007. All trenches except the most southerly trench 12 exposed very siliceous, possibly rhyolitic volcaniclastics, with varying amounts of clay and limonite alteration. Many of the trenches unearthed generally north-south trending thin quartz stringers or veinlets within small shear zones through to significant fault zones. Northsouth trending andesite dykes were mapped in most of the trenches. Trench 12 was underlain by andesite, containing two fault zones with thin quartz stringers.

Five trenches were excavated along a 200 metre section of Anomaly G north. Andesite, commonly brecciated with silicified zones containing 1-5% very fine-grained disseminated pyrite, was encountered in all trenches. All trenches also hosted shear zones with associated thin quartz veinlets and local chalcedony.

Two trenches tested the Anomaly A – Anomaly E junction area where soil geochemistry values of 423 and 286 ppb Au were obtained. A grab rock sample from this same area returned a value of 500 ppb Au. Andesite and volcaniclastic rocks were mapped in both trenches. Shearing with associated quartz stringers and quartz-feldspar-carbonate veinlets was located in trench DOTR07- 17.

All assaying is being conducted by Eco Tech Laboratories Ltd. in Kamloops, British Columbia. QA/QC protocols including duplicates and standards have been employed by Appleton.

A 1500 metre diamond drilling program is scheduled once all assay results have been received.

The 2007 Dora exploration program was completed under the direction of Steve Butrenchuk, P.Geol., a Qualified Person as defined in National Instrument 43-101.

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
MarketSmart Communications:
(604) 261-4466  |   (Toll Free 1-877-261-4466)

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

October 23, 2007 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V.AEX) has received further encouraging geochemical assay results from its 4,600 hectare Sping coppersilver project, north of Smithers, British Columbia. The objectives of the 2007 exploration season were to substantiate the previously documented copper-silver rich limes tone and determine the potential of finding more. This was accomplished with six reconnaissance scale traverses (roughly 1 km apart) across the property, including one over the known area of mineralization. Each traverse involved mapping, prospecting and 100 metre spaced soil sampling.

Outcrops of disseminated silver-rich chalcopyrite (copper) bearing limestone were identified and grab sampled across an area 300 metres wide. Results confirmed documented levels of copper and silver with Appleton’s assays ranging from 0.28% to 1.06% Cu, and 1.1 to 30.0 grams per tonne Ag.

The reconnaissance traverses also identified several other areas of copper-silver anomalies in areas covered by overburden; the most notable fall within a general northwest trend of anomalies developing over 1.5 km with the outcropping mineralized limestone in the centre of that trend. The anomalies are expressed by copper values in soils between 80 and 104 ppm with accompanying silver values in soils between 0.4 and 2 ppm.

The reconnaissance traverses also identified an interesting east-west trending zinc-lead soil anomaly 100 - 150 metres wide and 800 metres long, with zinc values between 433 and 5,760 ppm and lead values between 29 and 318 ppm. This trend is 700 metres south of the silvercopper rich limestone outcrops.

The Company is very encouraged with the 2007 exploration results from the Sping property, which is under 100% option to the Company. Several interesting target areas have been identified and warrant further work to expand and delineate. Mapping, sampling, trenching and success-contingent diamond drilling will follow.

The 2007 Sping exploration program was completed under the direction of Steve Butrenchuk, P.Geol., a Qualified Person as defined in National Instrument 43-101.

 

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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
MarketSmart Communications:
(604) 261-4466  |   (Toll Free 1-877-261-4466)

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

October 10, 2007 – Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V: AEX) has located two sub-parallel epithermal quartz veins on the Stobart / Fame property at the northern end of the Company’s Spences Bridge Gold Belt Project during its prospecting and soil geochemistry program.

The first vein, which had been explored by a previous operator, displays banding, chalcedonic textures, and brecciation. These are typical features of epithermal veins. This northeast trending vein is 1-2 metres wide and can be traced along strike for approximately 30 metres, though it has been interpreted to continue at least 60 metres based on on-trend subcropping and angular float quartz blocks. Previous sampling in 1993 returned values from 1 to 5060 parts per billion (ppb) gold.

A second parallel vein was discovered 150 metres to the west of the first vein. This second vein, one metre wide, was traced along strike for 15 metres before it disappeared under overburden. This vein displays chalcedonic quartz and adularia, again positive typical features of epithermal veins. Assay results are pending.

Appleton also completed a soil geochemistry grid over the Double D and Kelsch epithermal vein showings on the Fame Property option. Soil geochemistry assay results are pending. Grab rock sampling of the Double D veins in 2006 by the Company returned values from 35 to 160 ppb Au. Two grab rock samples from the Kelsch vein in 2007 returned values of 845 and 1650 ppb Au. A mechanical trenching program has commenced on the Double D and Kelsch epithermal veins.

Dora Property
Mechanical trenching is continuing on the Dora property at the south end of the Spences Bridge Gold Belt. A series of parallel trenches have uncovered wide zones (5 to 25 metres) of intense clay-quartz alteration beneath the continuous soil channel sample anomalies described in the news release dated September 24, 2007. Assay results are pending.

Expenditures for the Company’s Spences Bridge Gold Belt project were partially funded through a private placement by the MineralFields Group, a Toronto-based fund. Information about the MineralFields Group is available at www.mineralfields.com.

Appleton is planning a 1500 metre (5000 feet) NQ diamond drilling program on the Dora Property for early December.


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


For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
MarketSmart Communications:
(604) 261-4466  |   (Toll Free 1-877-261-4466)

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

September 24, 2007 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V: AEX) has received assay results from the initial follow-up on two of the six substantial inear cross-cutting gold-in-soil anomalies identified earlier this summer on its wholly owned Dora property in the Spences Bridge Gold Belt. Appleton is exploring the Dora property for low-sulphidation epithermal precious metal mineralization.

The Company is employing a cost effective exploration technique found successful by other explorers in the Spences Bridge Gold Belt to focus and optimize its excavator trenching in finding epithermal gold mineralization. Upon defining a gold-in-soil anomaly from grid-based 25 metre by 50 metre point sampling, the Company conducted continuous 1 m long channel soil sampling across the full width of the goldin-soil linear anomaly. By doing so prior to excavator trenching to bedrock, the Company can anticipate and interpret detailed anomalies within the larger anomaly.

A total of 12 channel soil trenches were completed, varying from 10m to 104m long across parts of two linear gold-in-soil anomalies previously reported. Assay results from 6 channel soil trenches have been received.

Trenches 1 and 2 have returned significant numbers. These two trenches cross cut a north trending 100m wide buried structure where grid-based soil values of between 112 and 800 ppb Au were previously encountered. The east-west oriented trenches are 40m apart. Trench 1 identified a 38m wide gold anomaly where 38 consecutive one metre channel soil samples exceeded 10 ppb Au to a maximum of 951 ppb Au. The average value was 176 ppb Au. Trench 2 encountered a similar 38m wide anomaly where consecutive channel soil gold values exceeded 32 ppb Au to a maximum of 1726 ppb
Au. The average gold value was 377 ppb Au. The two 38m wide anomalies line up in a northern trend that appears to mimic the buried structure. The Company geologists consider these early results as significant in light of >10 ppb Au from soils being considered important by other successful explorers in the Spences Bridge Gold Belt.

Subsequent excavator trenching has encountered strong to intense clay alteration, bleaching, silicification and chalcedonic quartz in bedrock 50 metres north of Trenches 1 and 2. Excavator trenching will continue to evaluate this and other gold anomalies on the Company’s Dora Property through the fall.


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


For further information, please contact:
Tim Henneberry: (604) 694-0741

MarketSmart Communications:
(604) 261-4466  |   (Toll Free 1-877-261-4466)

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

September 20, 2007 - Vancouver, British Columbia. Appleton Exploration Inc. (TSXV: AEX) is pleased to announce it has closed a non-brokered private placement of $500,000 through the sale of 1,666,666 flow-through units at $0.30 each to the MineralFields Group. Each unit is comprised of one flow-through common share in the capital of the Company and one-half (1/2) of one non-flow-through common share purchase warrant of the Company. Each whole warrant will entitle the holder thereof to purchase one common share in the capital of the Company at an exercise price of $0.50 per share until September 18, 2008; provided, however, that if the Company’s shares close on the TSX Venture Exchange for 20 consecutive trading days at $0.70 per share or higher during the exercise period, the Company may accelerate the expiry time to 20 calendar days from the date express written notice is provided by the Company to the holder.

The Company has paid a finder’s fee to First Canadian Securities ®, a division of Limited Market Dealer Inc. comprised of $25,000 and 166,666 broker options. Each broker option entitles the older to purchase one unit of the Company at a price of $0.30 per unit until September 18, 2008. each unit issued on exercise of the broker option will be comprised of one common share of the company and one non-transferable share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of the Company at a price of $0.50 per share until September 18, 2008; provided, however, that if the Company’s shares close on the TSX Venture Exchange for 20 consecutive trading days at $0.70 per share or higher during the exercise period, the Company may accelerate the expiry time to 20 calendar days from the date express written notice is provided by the Company to the holder. In addition, the Company has paid to Limited Market Dealer Inc. a due diligence fee of $15,000 (plus GST).

All of the securities issued pursuant to this offering and any securities acquired on exercise of any warrants or options are subject to a hold period expiring on January 19, 2008. “We are very pleased to be entering into this relationship with MineralFields Group”, said Tim Henneberry, President and CEO. “This is an important milestone in the growth of Appleton Exploration Inc. and we look forward to working with MineralFields Group as we develop our holdings in the Spences Bridge Gold Belt area.”

About MineralFields, Pathway and First Canadian Securities ®
MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities®, a division of Limited Market Dealer Inc., is active in leading resource financings (both flow-through and hard dollar) on competitive, effective and service-friendly terms, with investors both within and outside of MineralFields Group.

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

For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
MarketSmart Communications:
(604) 261-4466 (Toll Free 1-877-261-4466)

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in National
Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

September 12, 2007 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V: AEX) has commenced a follow up excavator trenching program on the six substantial linear cross-cutting gold anomalies identified earlier this summer on its wholly owned Dora property. Appleton is exploring the Dora property in the Spences Bridge Gold Belt for low-sulphidation epithermal precious metal mineralization. The Dora property is contiguous to the west to Consolidated Spire Ventures Ltd.’ s Pro spect Valley project, where Spire announced in July the discovery of a large low grade bulk tonnage target.

As disclosed in a news release dated July 19th, the Company’s 2007 detailed grid soil geochemical sampling identified a large area (1000m x 2000m) of multiple linear east-west and north-south trending gold-in-soil anomalies. The linear anomalies are both long and wide, and cross-cut each other, which may suggest a new mineralized system. The anomalies are described in the table below.

Breccia/Fault Grid Summary of Gold-In-Soil Anomalies
Anomaly
Trend
Width (m)
Length (m)
Range (ppb Au)
A
E-W
50-100
1500
3 to 1050
B
E-W
50-150
1400
2 to 112
C
E-W
50-200
1900
2 to 800
D
E-W
50-150
500
2 to 875
E
N-S
50-100
1000
3 to 286
F
N-S
50-100
1300
3 to 297

The Company has now completed initial follow up prospecting as well as a series of cross-cutting soil hand trenches over several of the anomalies. Assay results are pending. each of the six linear anomalies will be tested by a series of cross cutting excavator trenches at regular intervals along strike. A success contingent diamond drilling program will follow.

 

On Behalf of the Board of Directors,
“R. Tim Henneberry”
R.Tim Henneberry, P.Geo.
President and CEO
For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
MarketSmart Communications:
(604) 261-4466 (Toll Free 1-877-261-4466)

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

September 10, 2007 - Vancouver, British Columbia. The Company is pleased to announce that it has negotiated a private placement with MineralFields comprised of 1,666,666 units at a price of $0.30 per unit for total gross proceeds of $500,000. Each unit is comprised of one flow-through common share in the capital of the Company and one-half (1/2) of one non-flow-through common share purchase warrant of the Company. Each whole warrant will entitle the holder thereof to purchase one common share in the capital of the Company at an exercise price of $0.50 per share for a period of one year from the date of issuance; provided, however, that if the Company’s shares close on the TSX Venture Exchange for 20 consecutive trading days at $0.70 per share or higher during the exercise period, the Company may accelerate the expiry time to 20 calendar days from the date express written notice is provided by the Company to the holder.

The Company intends to pay a finder’s fee to First Canadian Securities ®, a division of Limited Market Dealer Inc. comprised of a combination of cash (5% of the subscription amount) and broker options (10% of the number units placed). Each broker option entitles the holder to purchase one unit of the Company at a price of $0.30 per unit for a period of one year from the date of issuance. Each unit issued on exercise of the broker option will be comprised of one common share of the Company and one non-transferable share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of the Company at a price of $0.50 per share for a period of one year from the date of issuance of the option. In addition, the Company has agreed to pay to Limited Market Dealer Inc. a due diligence fee of 3% of the gross proceeds, plus applicable taxes. All of the securities issued pursuant to this offering will have a hold period expiring four months after the closing date.

The net proceeds from the private placement will be used by the Company to finance exploration activities and to incur eligible exploration expenses. The private placement is subject to regulatory approval and to the price of the Company’s shares being not less than $0.25 per share on the date of closing.

About MineralFields, Pathway and First Canadian Securities ®
MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities®, a division of Limited Market Dealer Inc., is active in leading resource financings (both flow-through and hard dollar) on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields Group.

 

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

For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
MarketSmart Communications:
(604) 261-4466  |   (Toll Free 1-877-261-4466)

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in National
Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

September 6, 2007 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V: AEX) has completed its Phase I 2007 exploration on the Sping copper/silver project north of Smithers, British Columbia. The program consisted of geological mapping, and geochemical silt and soil sampling over the 4,600 hectare property. The mapp ing substantiated the location of previously known copper m ineralization in a limestone unit. Additional copper mineralization was discovered within faults or shear zones within Hazelton Group volcanic rocks at three other locations on the property.

Soil geochemical samples were collected along a series of 1.5 kilometre to 2 kilometre long north-south trending lines and along a 6 kilometre long east to southeast trending baseline. A 500 metre by 500 metre grid was also completed in the northeast corner of the property where new copper mineralization was discovered.

The Sping property is under 100% option to the Company as was previously disclosed in a news release dated May 29, 2007. In the mid-1970’s, Canadian Superior Exploration Inc.  identified a pre-NI 43-101 historical resource of 5,000,0000 tons grading 0.50% Cu and 11.9 grams per ton Ag in a limestone unit on the Sping property. Appleton has not prepared nor confirmed this resource estimation and as it pre-dates National Instrument 43-101, it does not
comply with NI 43-101 requirements for mineral resource estimation. No qualified person has done sufficient work to classify the historical estimate as a current resource.

The Company does not treat these numbers as a current resource on the property and the resource should not be relied upon, but remains an historic figure. The Company is pleased with the discovery of additional copper mineralization on the Sping property. Assay results are pending.

 

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

For further information, please contact:
Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
MarketSmart Communications:
(604) 261-4466 |   (Toll Free 1-877-261-4466)

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

July 19, 2007 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V: AEX) has now received all of the assay results from the 2007 Phase I program on its wholly owned Dora property in the Spences Bridge Gold Belt. Six substantial linear cross-cutting gold anomalies have been discovered by the Company in its search for epithermal mineralization in the active Spences Bridge Gold Belt. The anomalous area on the Company’s Dora property is 3 kilometres southeast of Consolidated Spire Ventures Ltd. Prospect Valley project where the discovery of a large low grade bulk tonnage target has recently been announced.

The 2007 Dora Phase I program consisted of two components: follow-up in-fill soil sampling and prospecting over the previously established anomalous Breccia/Fault and Silt grids and airborne tri-directional magnetics over the south western section of the property. The objective of the Breccia/Fault grid soil sampling was to better define broad previously identified anomalies by in-fill soil sampling as well as to expand the previously identified gold-in-soil
anomalies, located during the 2006 exploration program. A total of 2258 soil samples were taken on the Breccia/Fault Grid and a further 416 samples were taken over the Silt Grid. Eighteen grab bedrock samples were also taken from the grids. The objective of the airborne geophysical survey was to identify buried structures that might be mineralized. Aeroquest Limited flew the 784 line kilometres airborne geophysical survey. The maps and accompanying geophysical report are due in late August.

The 2007 assay results show a large area (1000m x 2000m) of multiple linear east-west and north-south trending anomalies. The linear anomalies are both long and wide, cross-cutting each other, which may suggest a new mineralized system. The anomalies are described in the table below.

 

Breccia/Fault Grid Summary of Gold-In-Soil Anomalies
Anomaly
Trend
Width (m)
Length (m)
Range (ppb Au)
A
E-W
50-100
1500
3 to 1050
B
E-W
50-150
1400
2 to 112
C
E-W
50-200
1900
2 to 800
D
E-W
50-150
500
2 to 875
E
N-S
50-100
1000
3 to 286
F
N-S
50-100
1300
3 to 297


A total of 18 rock sample were taken during prospecting of the grids. Thirteen of the samples returned anomalous gold results between 14 and 210 ppb Au, which are positive support for the anomalous grid areas to host epithermal mineralization.

The Company is very pleased with the results of the Phase I exploration program. Crews have been mobilized to commence the Phase II program of ground truthing the soil anomalies by soil and hand trenching and detailed prospecting. This will be followed by mechanical trenching.

All analyzes were completed by Eco-Tech Laboratory Ltd. of Kamloops, British Columbia.
On Behalf of the Board of Directors,
“R. Tim Henneberry”
R.Tim Henneberry, P.Geo.
President and CEO


For further information, please contact: Tim Henneberry: (604) 694-0741

For Investor Relations Information contact:
MarketSmart Communications: (604) 261-4466   |   Toll Free:  1-877-261-4466

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

July 16, 2007 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V: AEX) has entered into an investor relations agreement with Marketsmart Communications Inc. of Vancouver, BC, subject to acceptance for filing by the TSX Venture Exchange. Pursuant to the
terms of the agreement, Marketsmart will provide investor relations services to the Company for a period of one year, at a fee for services of $3,500 per month. The agreement may be terminated by either party upon one month’s notice.

Marketsmart Communications Inc., wholly owned by Maria Da Silva, has provided investor relations services to various biotech, high tech and resource companies for the past five years. Services to be provided to the Company under the terms of the investor relations agreement will include: providing shareholder and investor communications services; assisting the Company in developing and coordinating presentations, brochures, advertising, and other
shareholder communications material; introducing and arranging contacts with underwriters, broker/dealers, potential investors, the media, and financial analysts; and assisting in the development of appropriate public disclosure documentation.

The Company has granted 160,000 stock options, pursuant to the terms and conditions of the investor relations agreement and the Company’s stock option plan, exercisable on or before July 16, 2012, at an exercise price of $0.30 per share.


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

For further information please contact Tim Henneberry at (604) 694-0741

 

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

 

Appleton Exploration Inc. Makes Initial Option Payment on Sping Property and Provides Update on Spences Bridge Gold Project Exploration

June 14, 2007 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V: AEX) has made an initial option payment of $25,000 and has issued 100,000 common shares to the Vendor of the Sping copper-silver property, pursuant to the option agreement previously announced on May 28, 2007. Securities issued pursuant to the agreement are subject to a four month hold until October 1, 2007.

The Company will complete an initial examination of the Sping Property in late June in preparation for a ground prospecting, mapping and sampling program to be conducted later in the summer.

The Company also reports it has completed the soil geochemical sampling component of the phase I 2007 exploration program on its Dora Property in the Spences Bridge Gold Belt. Prospecting and mapping by the company’s independent Qualified Person, Steve Butrenchuk, P.Geol., was successful in locating four separate zones of alteration in the Breccia/Fault Grid area. Assay results are pending.

Aeroquest Surveys has commenced a +750 line kilometre airborne tri-directional magnetometer survey on the southwest section of the Dora Property, including the Breccia/Fault and Silt Grids. The objective of the survey is to locate zones of alteration which should appear as magnetic lows. Low sulphidation epithermal precious metal systems commonly occur within these lows. Results of the airborne geophysical survey are pending.

 

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

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

May 29, 2007 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V: AEX) has entered into an option agreement dated May 25, 2007 to acquire the Sping Copper-Silver property, located 160 kilometres north of Smithers, British Columbia, subject to acceptance for
filing by the TSX Venture Exchange. The Sping property is comprised of the Sping mineral claim (287.7 hectares). The Company has also staked an additional 11 mineral claims, which are contiguous with the Sping claim. The property package now totals 4,603 hectares.

Appleton may earn a 100% interest in the Sping claim, subject to a 2.5% net smelter return (“NSR”) royalty to the Vendor, by making cash payments totalling $170,000, issuing 200,000 common shares and completing $1,000,000 in exploration expenditures on or before the third anniversary date of acceptance for filing by the TSX Venture Exchange. Appleton has the option to purchase up to 1.5% (3/5) of the NSR, in increments of 0.5% for a total cost of $1,750,000.

The Sping property lies within volcanic and volcaniclastic with interbedded sedimentary rocks, of the Jurassic Hazelton Group on the eastern boundary of the Bowser Basin. Previous exploration has focussed on a dolomitic limestone that carries finely disseminated silver rich chalcopyrite. Drilling by Canadian Superior Exploration Limited in the early to mid 1970’s outlined a historical resource of 5,000,000 tons grading 0.5% copper and 11.9 grams/ton silver.
Appleton has not prepared nor confirmed this resource estimation and as it pre-dates National Instrument 43-101, it does not comply with NI 43-101 requirements for mineral resource estimation. No qualified person has done sufficient work to classify the historical estimate as a current resource. The Company does not treat these numbers as a current resource on the property and the resource should not be relied upon, but remains an historic figure.

A review of the assessment record shows programs of soil sampling and induced polarization (IP) geophysics were completed by Canadian Superior prior to drilling. There is no record of detailed mapping. Drilling concentrated on the mineralized dolomitic limestone. The IP survey located several additional unexplored anomalies in the area. Later prospecting during a 1993 property examination by Inco located a second occurrence of the mineralized dolomitic
limestone 200 metres to the south of the limestone drilled in 1973. This second occurrence returned copper and silver values from surface grab sampling that are similar to the surface values in the previously drilled limestone.

The persistency and consistency of copper grades between drill holes and its apparent coincidence with a dolomite unit suggests copper-silver mineralization on the Sping property represents sediment-hosted stratabound copper mineralization. This could suggest good potential for large tonnage. In addition, the Sping property has some similarities to the  geological setting at the Eskay Creek Mine. The Sping property is located on the eastern edge of the Bowser Basin, whereas Eskay Creek lies on the western edge of the basin. Some comparable rock types, stratigraphy and style of copper mineralization occur at both. Therefore, the Company will also evaluate the Sping property for Eskay Creek style mineralization.

The Company plans an initial program of soil geochemistry, prospecting and mapping followed by ground or airborne geophysics on the Sping property.


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

 

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

May 14, 2007 - Vancouver, British Columbia. Appleton Exploration Inc. (TSX-V: AEX) has commenced its 2007 exploration programs on its Spences Bridge Gold Belt Project. The Company’s Spences Bridge Gold Belt Project, comprised of five properties covering 74,000 hectares, lies within the Spences Bridge Gold Belt in south central British Columbia. The Spences Bridge Gold Belt is emerging as a new epithermal gold camp after recent discoveries by Almaden Minerals Ltd., Consolidated Spire Ventures Ltd. and Strongbow Exploration Inc.

Appleton is led by a seasoned team of explorationists and mining professionals. The Company was incorporated on June 23, 2006 as a private company in British Columbia, raising funds to complete a $350,000 exploration program on its Spences Bridge Gold Belt Project and to proceed with an initial public offering. The Company commenced trading on the TSX Venture
Exchange on May 14, 2007.

The Company’s 2006 exploration program was successful in locating gold-in-soil and/or goldin-bedrock anomalies on each of the properties in its Spences Bridge Gold Belt Project. A brief summary of the 2006 exploration results for each of the five properties follows.


Dora

Exploration was successful in locating the Breccia Vein, a 1 metre wide SE trending quartz breccia vein. Grid geochemical soil samples returned values ranging from 10 parts per billion (“ppb”) Au to 280 ppb Au. Soil geochemistry was successful in tracing the vein 1000 metres with gold-in-soil values from 5 ppb to 40 ppb. The west trending, 7-10 metre wide Fault Zone of alteration and shearing returned values from 5 ppb to 140 ppb Au from limonite gouge zones within the structure. This zone was traced approximately 600 metres by soil geochemistry. Two additional soil grids – the Silt and the Mare – were established. Gold-in-soil and/or goldin-silt anomalies were located on each of the Silt and Mare grids.


Clapperton

Exploration located a north trending, 30-40 metre wide zone of alteration and shearing hosting individual carbonate + quartz seams and veins range from 5-10 centimetres in width. Geochemical rock values from 15 ppb Au to 60 ppb Au were obtained from the individual seams and veins. The west edge of the Clapperton soil geochemical grid appears to have located the strike projection of the zone.


Spence

Road soil geochemistry located a 600 metre section ranging from 10 ppb Au to 20 ppb Au. A soil grid over the area was successful in confirming the anomalous area.


McKay
Road soil geochemistry identified two zones of continuous gold-in-soil anomalies along with individual values ranging from 10 ppb Au to 40 ppb Au. Soil geochemical grids confirmed and expanded the southern zone, but did not confirm the north zone.


Stobart / Fame

Road soil geochemistry identified two areas that were followed up with soil geochemical grids. Gold-in-soil anomalies were located on both grids, requiring further follow-up. Additional gold-in-soil anomalies found during the 2006 Phase I road soil sampling program will also require follow up.


Mineralization on the Fame Option consists of four main showings associated within northwest trending structural lineaments: Discovery, Kelsch, Double Diamond and Twilight. The zones are epithermal veins to veinlets and breccias. Historical grab sampling obtained values from 5 ppb to 14,800 ppb Au over narrow widths.

The Company completed a soil grid over the Twilight Zone where two linear gold-in-soil anomalies were identified. The Discovery, Kelsch and Twilight zones were also examined with preliminary grab sampling returning values from 5 ppb to 2270 ppb Au.

Appleton’s 2007 exploration program will follow the recommendations of the Company’s independent Qualified Person, Stephen Butrenchuk, P.Geol. in his technical report filed in support of the Company’s initial public offering. This program will concentrate on the Dora Property. Soil grids will be tightened and expanded over the Breccia and Fault Zones. The grids will be prospected and mapped in detail. A proton magnetometer survey will then be completed over the grids to assist in the tighter definition of anomalies. Upon completion of the geology, geochemistry and geophysics, a program of excavator trenching will be initiated to evaluate the geochemistry and geophysical anomalies.


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

R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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

Vancouver, British Columbia--(Newsfile Corp. - June 6, 2019) - First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) ("First Vanadium" or the "Company") is pleased to announce that the Company has closed the first tranche (the "First Tranche") of its non-brokered private placement financing (the "Offering") previously announced on May 21, 2019. Under the First Tranche, the Company has issued 2,125,500 units at a price of C$0.40 per unit for gross proceeds of C$850,200. Each unit is comprised of one common share and one warrant. Each warrant will be exercisable into one common share for a period of three years at an exercise price of $0.65 per share. In connection with the First Tranche, the Company paid a finder's fee of C$2,100 to PI Financial Corp.

Certain directors, officers (the "Insiders") and close associates of the Company participated in the First Tranche and purchased an aggregate of 898,000 units for aggregate gross proceeds of C$359,200. Participation by Insiders of the Company in the Offering is considered a "related party transaction" pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the Insiders' participation in the Offering in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the private placement by the Insiders did not exceed 25% of the fair market value of the Company's market capitalization.

All securities issued under the First Tranche are subject to a hold period expiring October 7, 2019, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

The second tranche of the Offering for additional proceeds of up to C$349,800 is expected to close on or before June 28, 2019.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 as amended (1933 Act), or any state securities laws, and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

About First Vanadium Corp.

First Vanadium has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada on Highway I-80. The Carlin Vanadium Project hosts the Carlin Vanadium deposit, which is flat to shallow dipping and at shallow depths with strike length of approximately 1,800 metres, width averaging 600 metres and thickness ranging from 15 metres to 50 metres. The Company announced its maiden resource February 27, 2019.

ON BEHALF OF FIRST VANADIUM CORP.

per: "Paul Cowley"
CEO & President
(778) 655-4311
This email address is being protected from spambots. You need JavaScript enabled to view it.

www.firstvanadium.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include the Company's ability to meet its obligations under the Access and Mineral Lease Agreement, the conditions required to exercise in full its option to acquire the Carlin Vanadium project, and the proposed second tranche closing of the Company's private placement offering. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45384

Vancouver, British Columbia--(Newsfile Corp. - May 24, 2019) - First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) ("First Vanadium" or the "Company") is pleased to announce that certain directors, officers and close associates of the Company have collectively sold 908,000 shares of the Company through the facilities of the TSX Venture Exchange, and will use the net proceeds of the sales to subscribe in the non-brokered private placement financing announced in the Company's news release dated May 21, 2019.

The subscription of Units to insiders pursuant to the private placement is considered to be a related party transaction subject to Multilateral Instrument 61-101. The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 on the basis that participation in the private placement by insiders will not exceed 25% of the fair market value of the Company's market capitalization.

About First Vanadium Corp.

First Vanadium has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada on Highway I-80. The Carlin Vanadium Project hosts the Carlin Vanadium deposit, which is flat to shallow dipping and at shallow depths with strike length of approximately 1,800 metres, width averaging 600 metres and thickness ranging from 15 metres to 50 metres. The Company announced its maiden resource February 27, 2019.

ON BEHALF OF FIRST VANADIUM CORP.

per: "Paul Cowley"
CEO & President
(778) 655-4311
This email address is being protected from spambots. You need JavaScript enabled to view it.

www.firstvanadium.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include the Company's ability to meet its obligations under the Access and Mineral Lease Agreement, the conditions required to exercise in full its option to acquire the Carlin Vanadium project, the proposed sale of shares by insiders and their subsequent participation in the Company's private placement offering. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45026

Vancouver, British Columbia--(Newsfile Corp. - May 21, 2019) -  First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) ("First Vanadium" or the "Company") is pleased to announce a non-brokered private placement of up to 2,500,000 units at a price of $0.40 per unit for gross proceeds of up to $1,000,000. Each unit will be comprised of one common share and one warrant. Each warrant will be exercisable into one common share for a period of three years at an exercise price of $0.65 per share.

The proceeds of the private placement will be used to carry out technical work on the Company's Carlin Vanadium Project and for general working capital. The Company may pay a finder's fee of cash, shares or finders warrants, to eligible persons, in compliance with applicable securities laws and exchange policies. The Company will make provision for an over-allotment option (Greenshoe) to allow a purchase of up to 20% additional units beyond the number of units in this Offering. This financing is subject to TSXV approval.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 as amended (1933 Act), or any state securities laws, and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

About First Vanadium Corp.

First Vanadium has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada on Highway I-80. The Carlin Vanadium Project hosts the Carlin Vanadium deposit, which is flat to shallow dipping and at shallow depths with strike length of approximately 1,800 metres, width averaging 600 metres and thickness ranging from 15 metres to 50 metres. The Company announced its maiden resource February 27, 2019.

ON BEHALF OF FIRST VANADIUM CORP.

per: "Paul Cowley"
CEO & President
(778) 655-4311
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.firstvanadium.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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

Forward-looking information

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include the Company's ability to meet its obligations under the Access and Mineral Lease Agreement, the conditions required to exercise in full its option to acquire the Carlin Vanadium project, the proposed private placement offering and the use of proceeds of such offering. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44912

New Data Opens Deposit Strike Length to 2,130 metres (6,984ft)

Vancouver, British Columbia--(Newsfile Corp. - April 24, 2019) - First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) ("First Vanadium" or the "Company") is pleased to announce that newly acquired historic data extends the strike length of the Carlin Vanadium deposit a further 300 metres ("m") (984ft) to the south on the Carlin Vanadium property. Two drill holes and two trenches completed by Union Carbide in 1968, located south of, and beyond the current limit of the mineral resource, reported strong vanadium grades. Hole DDH4 returned an average grade of 0.91% V2O5 across 7.01m (23ft), starting near surface and hole R-128 returned an average grade of 0.51% V2O5 across 13.71m (45ft).

Drillhole ID From (m) To (m) Length (m) From (ft) To (ft) Length (ft) V2O5 (%)
DDH-4 1.52 8.53 7.01 5 28 23 0.91
R-128 44.20 57.91 13.71 145 190 45 0.51

The two surface trenches returned average grades of 0.58% V205 across a width of 15.2m (50 ft) and 0.76% V205 across a width of 9.1m (30 ft) from a series of chip samples. Geological mapping conducted by the Company supports the southern projection of the deposit through these historic drill holes and trenches.

First Vanadium President and Chief Executive Officer, Paul Cowley stated. "This new information is positive reinforcement of the project's expansion potential. The 300m southern extension amounts to a 15% gain in strike length which remains open to the south on the property."

The Carlin Vanadium mineral resource as announced February 28, 2019 and detailed in the Technical Report, which was SEDAR filed April 10, 2019, has a strike length of 1,830m (6,000ft). The newly acquired historic drilling and trenching data opens the deposit strike length to at least 2,130m (6,984ft). This new data was not included in the resource estimate, as it did not become available to the Company until after the resource estimate was completed.

Both drill holes and trenches are located on the adjacent Cole Creek Property which makes up part of the Carlin Vanadium Property. The Company acquired mineral rights to the Cole Creek Property through a mineral lease agreement announced January 31, 2019.

Vanadium is growing in importance for key industrial manufacturing sectors most notably steel and renewable energy. Today, more than 90% of the world's vanadium is used in steel manufacturing applications. Its importance to the energy sector is also growing rapidly with more than 5% of vanadium production used in energy storage where its substantial cost and performance benefits make it an alternative choice to lithium ion in several areas.

About First Vanadium Corp.

First Vanadium has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada on Highway I-80. The Carlin Vanadium Project hosts the Carlin Vanadium Deposit which is flat to shallow dipping and at shallow depths.

ON BEHALF OF FIRST VANADIUM CORP.
per: "Paul Cowley"
CEO & President
(778) 655-4311
This email address is being protected from spambots. You need JavaScript enabled to view it.

www.firstvanadium.com

Technical disclosure in this news release has been reviewed and approved by Paul Cowley, P.Geo., a Qualified Person as defined by National Instrument 43-101, and President and CEO of the Company.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include the Company's ability to meet its obligations under the Access and Mineral Lease Agreement, the conditions required to exercise in full its option to acquire the Carlin Vanadium project and its intention to initiate a mineral resource estimate. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44265

Vancouver, British Columbia--(Newsfile Corp. - April 10, 2019) - First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) ("First Vanadium" or the "Company") is pleased to announce that a National Instrument 43-101 Technical Report titled "NI 43-101 Technical Report, Carlin Vanadium Project, Carlin, Nevada" has been filed on SEDAR (www.sedar.com).

The report documents a maiden mineral resource estimate (Table 1) completed by SRK Consulting (U.S.), Inc. ("SRK") on the Carlin Vanadium Deposit located 6 miles south of Elko, Nevada, as initially reported by way of the Company's news release dated February 27, 2019.

Table 1. Carlin Vanadium Mineral Resource Statement at 0.3% V2O5 Cut-off grade (CoG) (Effective January 31, 2019)

Classification
CoG (% V2O5)
Grade (% V2O5 )
Tons (in millions)
V2O5 lb (in millions)
Indicated
0.3
0.615
24.64
303
Inferred
0.3
0.520
7.19
75
  1. Mineral Resources are not Mineral Reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. There has been insufficient exploration to define the Inferred Resources tabulated above as an Indicated or Measured Mineral Resource. There is no guarantee that any part of the mineral resources discussed herein will be converted into a mineral reserve in the future.
  2. The Mineral Resources in this estimate were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
  3. The mineral resources listed in Table 1 are confined within a Whittle Pit Shell with a 45⁰ pit slope and a strip ratio of 2.6:1 waste to ore including all categories. The following parameters were used to construct the Whittle pit shell and to derive the mineral resource cut-off grade of 0.3% V2O5: Metal prices: US$12.50/lb V2O5 flake, Mining: US$2.50/t, Processing: US$52.50/t, G&A: US$1.50/t, Product Transport: $2.00/t, Process Recovery: 85%.
  4. Contained pounds may not add due to rounding.

This is the first time Indicated mineral resources have been established for the deposit. The resource as defined within the pit shell has a defined strike length of approximately 1,830 metres (6,000 ft) and width averaging 610 metres (2,000 ft), starting at surface to depths of 120 metres (395 ft). The average thickness of the main mineralized zone is 35 metres (115 ft).

The Independent Technical Report was authored by Dr. Bart Stryhas, PhD, CPG., and Ms. Brooke Miller Clarkson, CPG, of SRK and Mr. Frank Wright, P.Eng., of F. Wright Consulting Inc. Messrs. Stryhas and Wright and Ms. Clarkson are Qualified Persons as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators ("NI 43-101"). The report is filed on SEDAR and is available on First Vanadium's website (click here to view full report).

Sensitivity Table

Sensitivity analysis of the Carlin Vanadium Project's NI 43-101 mineral resource estimate for V2O5 at various cutoff grades (CoG):

Classification
CoG (% V2O5)
Grade (% V2O5)
Tons (in millions)
V2O5 lb (in millions)
Indicated*1
0.2
0.539
31.26
337
0.3*2
0.615
24.64
303
0.4
0.702
18.64
262
0.5
0.776
14.44
224
0.6
0.849
10.92
185
0.7
0.929
7.80
145
0.8
1.012
5.32
108
Inferred*1
0.2
0.450
9.72
87
0.3*2
0.520
7.19
75
0.4
0.596
4.94
59
0.5
0.677
3.18
43
0.6
0.745
2.08
31
0.7
0.847
1.05
18
0.8
0.959
0.53
10

 *1 Mineral Resources are not Mineral Reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. There has been insufficient exploration to define the Inferred Resources tabulated above as an Indicated or Measured Mineral Resource. There is no guarantee that any part of the mineral resources discussed herein will be converted into a mineral reserve in the future.

*2 The Base Case reported resources are highlighted in bold and have been constrained within a US$12.50/lb V2O5 optimized pit shell described above.

Technical disclosure in this news release has been reviewed and approved by Paul Cowley, PGeo., a Qualified Person as defined by National Instrument 43-101, and President and CEO of the Company.

About First Vanadium Corp.

First Vanadium has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County, 6 miles south of a major rail hub and mining community of Carlin, Nevada, a major highway (I-80) and power. The Carlin Vanadium Project hosts the Carlin Vanadium deposit which is a black shale-hosted flat to shallow dipping vanadium resource at shallow depths.

ON BEHALF OF FIRST VANADIUM CORP. 
per: "Paul Cowley"
CEO & President
(778) 655-4311
This email address is being protected from spambots. You need JavaScript enabled to view it. 
www.firstvanadium.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44000

Vancouver, British Columbia--(Newsfile Corp. - April 4, 2019) - First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) ("First Vanadium" or the "Company") reports metallurgical test work results for nine variability composite samples from its high-grade Carlin Vanadium deposit. Preliminary test results are consistently showing high vanadium extraction rates, between 92% and 98%, for both oxidized and unoxidized mineralized material of low, average and high vanadium grades.

"The Company is very pleased with the consistent variability testing results that demonstrate excellent vanadium extraction rates across the deposit, achieving another significant objective in our test work", says Paul Cowley, President & CEO.

The Company commenced acid leach and pressure oxidation test procedures on a single composite sample from the deposit in April 2018. In June 2018, the reported test work indicated 95.5% vanadium extraction into solution. Subsequently, over a number of months the extraction process has been further refined and the Company has progressed to the stage of variability test work. Variability test work typically uses multiple samples of differing grade and ore type from across a deposit to determine the processing consistency for a given procedure.

Nine composite samples from drill holes across the Carlin Vanadium deposit tested two different ore type (oxidized and unoxidized shale) of varying vanadium grades (low 0.39-0.54% V2O5, average 0.62-0.69% V2O5, and high 0.93-1.02% V2O5) through an acid leach and pressure oxidation procedure. The composite sample descriptions and preliminary extraction results are shown in the following table. Test results are consistently high vanadium extractions into solution, between 92% and 98%, demonstrating a tight range of high vanadium extractions across the deposit regardless of grade or whether oxidized or unoxidized material. The test work was conducted by Sherritt Technologies, a leader in the development and commercialization of pressure hydrometallurgical processes.

MetallurgicalHoleIDDepth (m)Calculated Grade Sample Vanadium
Sample ID FromTo% V2O5DescriptionExtraction (%)
MT1ADDC18-0113658.50.68Unoxidized shale94.1
MT2DDC18-0163779.860.69Unoxidized shale93.1
MT3DDC18-01444.556.50.64Unoxidized shale97.8
MT4DDC18-01851901.02Unoxidized shale95.3
MT5DDC18-01016.546.50.39Unoxidized shale92.1
MT6ADDC18-0168.5310.62Oxidized shale92.4
MT7DDC18-01743.562.640.54Oxidized shale93.9
MT8DDC18-004011.50.93Oxidized shale95.3
MT9DDC18-02019.5300.42Oxidized shale96.0

 

*The composite samples were taken over the mineralized intervals indicated by downhole to and from depths in the table above.

The variability test work results provide further input for the advancement of a process flow sheet that requires a downstream solvent extraction step. The solvent extraction test work in progress at SGS Canada, is aimed at producing ammonium metavanadate and a final vanadium pentoxide product. The Company continues to look at other metallurgical opportunities to benefit the project.

About First Vanadium Corp.

First Vanadium has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada on Highway I-80. The Carlin Vanadium Project hosts the Carlin Vanadium deposit, which is flat to shallow dipping and at shallow depths with strike length of approximately 1,800 metres, width averaging 600 metres and thickness ranging from 15 metres to 50 metres. The Company announced its maiden resource February 27, 2019.

ON BEHALF OF FIRST VANADIUM CORP.

per: "Paul Cowley"
CEO & President
(778) 655-4311
This email address is being protected from spambots. You need JavaScript enabled to view it.

www.firstvanadium.com

Technical disclosure in this news release has been reviewed and approved by Paul Cowley, P.Geo., a Qualified Person as defined by National Instrument 43-101, and President and CEO of the Company.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include the Company's ability to meet its obligations under the Access and Mineral Lease Agreement and the conditions required to exercise in full its option to acquire the Carlin Vanadium project. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43874

Vancouver, British Columbia--(Newsfile Corp. - March 27, 2019) - First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) (formerly Cornerstone Metals Inc.) ("First Vanadium" or the "Company") reports that metallurgical test work on nine variability composite samples from the Carlin Vanadium deposit is in its final stages, with results to be reported in early April 2019.

The Company commenced acid leach and pressure oxidation test procedures on a single composite sample from the deposit in April 2018. In June 2018, the reported preliminary test work had returned 95.5% vanadium extraction into solution. Since then, the procedure has been further refined and the Company has progressed to the stage of variability test work. Variability test work typically uses multiple samples from across a deposit to determine the processing consistency for a given procedure.

Nine composite samples have been derived from drill holes across the Carlin Vanadium deposit to test the variability of two different ore types (oxidized and unoxidized shale) of varying vanadium grades (low, average, and high). The results of the variability test work are expected to be available in early April 2019. This variability work will provide a good indication of the expected average and range of vanadium extractions across the deposit and form the basis for ongoing advancement of the process flow sheet. The work is being conducted by Sherritt Technologies, a leader in the development and commercialization of pressure hydrometallurgical processes.

In addition, downstream solvent extraction test work to produce ammonium metavanadate, leading to a final vanadium pentoxide product is being initiated by SGS Canada, a leading supplier of proven, advanced metallurgical services at its Lakefield, Ontario facilities.

About First Vanadium Corp.

First Vanadium (formerly Cornerstone Metals Inc.) has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada on Highway I-80. The Carlin Vanadium Project hosts the Carlin Vanadium deposit, which is flat to shallow dipping and at shallow depths with strike length of approximately 1,800 metres, width averaging 600 metres and thickness ranging from 15 metres to 50 metres. The Company announced its maiden resource February 27, 2019.

ON BEHALF OF FIRST VANADIUM CORP.
per: "Paul Cowley"
CEO & President
(778) 655-4311
This email address is being protected from spambots. You need JavaScript enabled to view it.

www.firstvanadium.com

Technical disclosure in this news release has been reviewed and approved by Paul Cowley, P.Geo., a Qualified Person as defined by National Instrument 43-101, and President and CEO of the Company.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include the Company's ability to meet its obligations under the Access and Mineral Lease Agreement and the conditions required to exercise in full its option to acquire the Carlin Vanadium project. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43689

Vancouver, British Columbia--(Newsfile Corp. - March 19, 2019) - First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) (formerly Cornerstone Metals Inc.) (“First Vanadium” or the “Company”) is pleased to announce that it has more than doubled the size of its Carlin Vanadium Property from 1,331 acres to 3,177 acres. The Company has staked and filed with the Bureau of Land Management (BLM) 1,846 acres of unpatented lode claims over Federal lands adjacent to and proximal to the original core claims. The new claims provide the Company with a larger working area around the Carlin Vanadium deposit.

Vanadium is growing in importance for key industrial manufacturing sectors most notably steel and renewable energy. Today, more than 90% of the world's vanadium is used in steel manufacturing applications. Its importance to the energy sector is also growing rapidly with more than 5% of vanadium production used in energy storage where its substantial cost and performance benefits make it an alternative choice to lithium ion in several areas.

About First Vanadium Corp.

First Vanadium (formerly Cornerstone Metals Inc.) has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada on Highway I-80. The Carlin Vanadium Project hosts the Carlin Vanadium Deposit which is flat to shallow dipping and at shallow depths with strike length of approximately 1,800 metres, width averaging 600 metres and thickness ranging from 15 metres to 50 metres. The Company announced its maiden resource February 27, 2019.

ON BEHALF OF FIRST VANADIUM CORP.

per: "Paul Cowley"
CEO & President
(778) 655-4311
This email address is being protected from spambots. You need JavaScript enabled to view it.

www.firstvanadium.com

Technical disclosure in this news release has been reviewed and approved by Paul Cowley, P.Geo., a Qualified Person as defined by National Instrument 43-101, and President and CEO of the Company.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include the Company's ability to meet its obligations under the Access and Mineral Lease Agreement and the conditions required to exercise in full its option to acquire the Carlin Vanadium project. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43491

Vancouver, British Columbia--(Newsfile Corp. - February 27, 2019) - First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) (formerly Cornerstone Metals Inc.) ("First Vanadium" or the "Company") is pleased to announce that SRK Consulting (U.S.), Inc. ("SRK") has completed an independent National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate (Table 1) on the Carlin Vanadium deposit located 6 miles south of Elko, Nevada. The mineral resource estimate replaces the 2010 SRK historic mineral resource estimate.

Table 1. Carlin Vanadium Mineral Resource Statement at 0.3% V2O5 Cut-off grade (CoG) (Effective Feb. 1, 2019)

ClassificationCoG
(% V
2O5)
Grade
(% V
2O5 )
Tons
(in millions)
V2O5 lb
(in millions)
Indicated0.30.61524.64303

Inferred0.30.5207.1975

 

  1. Mineral Resources are not Mineral Reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. There has been insufficient exploration to define the Inferred Resources tabulated above as an Indicated or Measured Mineral Resource. There is no guarantee that any part of the mineral resources discussed herein will be converted into a mineral reserve in the future.

  2. The Mineral Resources in this estimate were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.

  3. The mineral resources listed in Table 1 are confined within a Whittle Pit Shell with a 45⁰ pit slope and a strip ratio of 2.6:1 waste to ore including all categories. The following parameters were used to construct the Whittle pit shell and to derive the mineral resource cut-off grade of 0.3% V2O5: Metal prices: US$12.50/lb V2O5 flake, Mining: US$2.50/t, Processing: US$52.50/t, G&A: US$1.50/t, Product Transport: $2.00/t, Process Recovery: 85%.

  4. Contained pounds may not add due to rounding.

This is the first time Indicated mineral resources have been established for the deposit, justified by the Company's two drill campaigns totaling 89 holes which verified historic drilling, twinned 6 historic holes either replicating or demonstrating improved grade, and in-filled to tightened the previous drill pattern.

The resource as defined within the pit shell has a defined strike length of approximately 1,800 metres and width averaging 600 metres, starting at surface to depths of 120 metres. The thickness of the main mineralized zone ranges from 15 metres to 50 metres. As noted in the Company's press release of January 31, 2019, the recent acquisition of adjoining lands via a mineral lease has had a positive impact on the overall pit shell design.

First Vanadium President and Chief Executive Officer, Paul Cowley stated, "Our Maiden resource estimate far exceeds our expectations. Approximately 77% of the estimation reports to the Indicated category, grades are higher than expected in the Indicated category, and the contained pounds of V2O5 metal in the deposit in both Indicated and Inferred categories are higher than expected."

The Carlin Vanadium deposit mineral resource was estimated by Dr. Bart Stryhas of SRK Consulting (U.S.), Inc. based on 216 rotary, reverse circulation and diamond drill holes completed by Union Carbide in the late 1960s and First Vanadium in 2018. The grade estimation utilizes an Inverse Distance Squared algorithm and is confined by a 0.2% V2O5 grade shell. The raw sample data was capped at 2.5% V2O5 prior to being composited to 10ft lengths. A dynamic sample search orientation was employed which follows the trends of the mineralized horizons.

The 0.3% V2O5 cut-off grade was chosen for resource reporting based on the reasonable potential for economic extraction under a conceptual open pit mining and milling scenario using US$2.50/t mining cost, US$52.50/t milling cost, US$1.50/t admin cost, US$2.00/t product transport cost, 85% recovery, and a US$12.50/lb V2O5 value. The results of the resource estimation provided a CIM classified Indicated and Inferred Mineral Resource. The SRK Technical Report will be prepared and filed on SEDAR (www.sedar.com) under the Company's profile, in accordance with NI 43-101 Standards of Disclosure for Mineral Projects within 45 days of this news release.

The Carlin Vanadium deposit is considered the largest, highest grade primary vanadium deposit in North America and now exceeds the numbers quoted in USGS Professional Paper 1802 Critical Mineral Resources of the United States-Economic and Environmental Geology and Prospects for Future Supply dated December 18, 2017.

Sensitivity Table

Sensitivity analysis of the Carlin Vanadium Project's NI 43-101 mineral resource estimate for V2O5 at various cutoff grades (CoG):

ClassificationCoG
(% V
2O5)
Grade
(% V
2O5)
Tons
(in millions)
V2O5 lb
(in millions)
Indicated*10.20.53931.26337
0.3*20.61524.64303
0.40.70218.64262
0.50.77614.44224
0.60.84910.92185
0.70.9297.80145
0.81.0125.32108

Inferred*10.20.4509.7287
0.3*20.5207.1975
0.40.5964.9459
0.50.6773.1843
0.60.7452.0831
0.70.8471.0518
0.80.9590.5310

 

*1 Mineral Resources are not Mineral Reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. There has been insufficient exploration to define the Inferred Resources tabulated above as an Indicated or Measured Mineral Resource. There is no guarantee that any part of the mineral resources discussed herein will be converted into a mineral reserve in the future.

*2 The Base Case reported resources are highlighted in bold and have been constrained within a US$12.50/lb V2O5 optimized pit shell described above.

Vanadium prices have been on a steady rise again since January 11, 2019 and now sit at US$17.60/lb for V2O5 flake.

First Vanadium President and Chief Executive Officer, Paul Cowley stated, "Our Maiden resource estimate provides a base for an economic study on the project."

Technical disclosure on the mineral resource estimate in this news release has been reviewed and approved by Dr. Bart Stryhas, PhD, CPG., a Qualified Person as defined by National Instrument 43-101. Technical disclosure excluding the mineral resource estimate in this news release has been reviewed and approved by Paul Cowley, PGeo., a Qualified Person as defined by National Instrument 43-101, and President and CEO of the Company.

About First Vanadium Corp.

First Vanadium (formerly Cornerstone Metals Inc.) has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County 6 miles south of a major rail hub and mining community of Carlin, Nevada, a major highway (I-80) and power. The Carlin Vanadium Project hosts the Carlin Vanadium Deposit which is a black shale-hosted flat to shallow dipping vanadium deposit at shallow depths, 0-60 m (0-200 ft) below surface.

ON BEHALF OF FIRST VANADIUM CORP.

per: "Paul Cowley"
CEO & President
(778) 655-4311
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.firstvanadium.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.Cannot view this image? Visit: https://orders.newsfilecorp.com/files/3372/43088_4d227da9644bf9cf_002full.jpg

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43088

Vancouver, British Columbia--(Newsfile Corp. - February 21, 2019) - First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) (formerly Cornerstone Metals Inc.) ("First Vanadium" or the "Company") is pleased to announce that it has been named a 2019 TSX Venture 50™ company, an annual ranking of the top performers on the TSX Venture Exchange. The winning companies have seen tremendous growth over the past year, offered remarkable return to their shareholders and are actively traded in the market.

Each year leading TSX Venture companies are judged by the Exchange on three equally weighted criteria:

  • market capitalization growth;
  • share price appreciation; and
  • trading volume

Based on the above noted criteria, First Vanadium has achieved second ranking in the mining sector and has been featured in a TSX Venture 50™ video that can be viewed here.

First Vanadium President and Chief Executive Officer, Paul Cowley stated, "We are delighted and honoured to be recognized by this prestigious TSX Venture ranking and to be associated with other high quality performers. We would like to thank our shareholders for their continued support, as our team works hard to unlock value by advancing our Carlin Vanadium Project."

About First Vanadium Corp.

First Vanadium (formerly Cornerstone Metals Inc.) has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County 6 miles south from the town of Carlin, Nevada on Highway I-80. The Carlin Vanadium Project hosts the Carlin Vanadium Deposit which is flat to shallow dipping and at shallow depths, 0-60 m (0-200 ft) below surface. The Carlin Vanadium deposit is considered the largest, highest grade primary vanadium deposit in North America (USGS Professional Paper 1802 Critical Mineral Resources of the United States-Economic and Environmental Geology and Prospects for Future Supply dated December 18, 2017).

ON BEHALF OF FIRST VANADIUM CORP.
per: "Paul Cowley"
CEO & President
(604) 340-7711
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.firstvanadium.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42959

Vancouver, British Columbia--(Newsfile Corp. - January 31, 2019) - First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) (formerly Cornerstone Metals Inc.) ("First Vanadium" or the "Company") is pleased to announce that it has made a strategic acquisition of the southern extension of the Carlin Vanadium deposit located 6 miles south of Carlin, Nevada.

The Company has gained mineral rights to an additional 200m strike length of the Carlin Vanadium deposit through an Access and Mineral Lease Agreement to approximately 80 acres of private (fee simple) land immediately adjacent to the Carlin Vanadium property (referred to as the "Cole Creek Property"). Six vertical holes drilled by Union Carbide in the 1960's on this adjacent ground demonstrated a southern continuance of the Carlin Vanadium deposit with thicknesses ranging from 10.67m to 28.96m (average 18.54m; 60.8ft) and grades ranging from 0.37% to 0.82% V2O5 (average 0.57% V2O5).

First Vanadium President and Chief Executive Officer Paul Cowley stated, "This is a timely acquisition just prior to a mineral resource estimate that will now be able to include these additional holes and deposit extension."

Terms of Agreement

Pursuant to the terms of the Access and Mineral Lease Agreement, the Company has paid the lessor US$50,000 on signing, and is required to pay an additional US$20,000 annually for the lease of all minerals beneath the surface of, within or that may be produced from the Cole Creek Property. In the event the Company commences mining operations on the Cole Creek Property, the annual payments will be replaced with a 5% NSR royalty in favour of the lessor. Pursuant to the terms of the lease, the Company is also required to incur at least US$100,000 expenditures on the property within 36 months, or to remedy any shortfall by making a cash payment to the lessor in the amount of such shortfall. The term of the lease is for an initial five-year period which may be extended, at the Company's option, for additional five-year periods provided the Company remains in good standing under the agreement. The Company has the right to terminate the lease portion of the agreement without terminating the road access portion of the agreement (described below).

The lessor also owns or has rights to certain lands containing roads which the Company wishes to use for access to the Cole Creek Property and to the Carlin Vanadium property. The Access and Mineral Lease Agreement also grants to the Company the right to access such lands and roads for an initial payment of US$15,000 which was paid on signing of the agreement (US$5,000 for 2017 access, US$5,000 for 2018 access and US$5,000 for 2019 access), and ongoing US$5,000 annual payments which will terminate at the Company's start of development and mining operations. The Company is also required to build and maintain a gate and cattle guard in order to keep its access rights in good standing. In addition, amongst other matters including compensation for lost cattle and lost grazing, the agreement also contemplates that upon commencement of development and mining operations, the Company will construct additional roads to be agreed upon between the Company and the lessor and at such time the Company will pay the lessor additional fees for the new road access until mining ceases and reclamation is completed. The access rights have been granted for an initial five-year term which may be extended, at the Company's option, for additional five-year periods provided the Company remains in good standing under the agreement.

The Carlin Vanadium deposit is considered the largest, highest grade primary vanadium deposit in North America (USGS Professional Paper 1802 Critical Mineral Resources of the United States-Economic and Environmental Geology and Prospects for Future Supply dated December 18, 2017).

Vanadium prices appear to have stabilized and are rising again. Vanadium is growing in importance for key industrial manufacturing sectors most notably steel and renewable energy. Today, more than 90% of the world's vanadium is used in steel manufacturing applications. Its importance to the energy sector is also growing rapidly with more than 5% of vanadium production used in energy storage where its substantial cost and performance benefits make it an alternative choice to lithium ion in several areas.

About First Vanadium Corp.
First Vanadium (formerly Cornerstone Metals Inc.) has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada on Highway I-80. The Carlin Vanadium Project hosts the Carlin Vanadium Deposit which is flat to shallow dipping and at shallow depths, 0-60 m (0-200 ft) below surface.

ON BEHALF OF FIRST VANADIUM CORP.

per: "Paul Cowley"
CEO & President
(778) 655-4311
This email address is being protected from spambots. You need JavaScript enabled to view it.

www.firstvanadium.com

Technical disclosure in this news release has been reviewed and approved by Paul Cowley, P.Geo., a Qualified Person as defined by National Instrument 43-101, and President and CEO of the Company.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include the Company's ability to meet its obligations under the Access and Mineral Lease Agreement, the conditions required to exercise in full its option to acquire the Carlin Vanadium project and its intention to initiate a mineral resource estimate. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42570

Vancouver, British Columbia--(Newsfile Corp. - January 17, 2019) - First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) (formerly Cornerstone Metals Inc.) ("First Vanadium" or the "Company") is pleased to announce results from the final 25 exploration drill holes aimed at extending the mineralization at its Carlin Vanadium Project located 6 miles south of Carlin, Nevada, including the thickest high-grade intercept to-date at the project returning 73.2m (240ft) grading 0.60% V2O5. A map has been placed on the Company website to demonstrate the location of the latest holes, click here to view.

Highlights:

  • The diamond drill campaign successfully extended the limits of mineralization along the western and eastern edges of defined mineralization, as well as an area to the northwest.
  • Thickest high-grade intercept to-date at the Carlin Vanadium Project with 73.2m (240ft) grading 0.60% V2O5
  • Compilation of the 216-hole database and modeling of the mineralization is underway for the next step of a mineral resource estimate

The 25 exploration drill holes were focused in 3 areas beyond the limits of the known vanadium mineralization; a 400m length along the eastern edge, a 550m x 50m area along the western edge, and a 300m x 220m area to the northwest. The majority of the drilling was successful in encountering near-surface vanadium mineralization, extending the limits of the known mineralization. One particular hole on the eastern edge returned the thickest high-grade zone to-date on the property with 73.2m (240ft) grading 0.60% vanadium ("V2O5"), starting from surface.

First Vanadium President and Chief Executive Officer, Paul Cowley stated. "We are pleased to have such a high percentage of successful exploration holes extending the known vanadium mineralization. Hole RCC18-46 was a particularly spectacular hole. The mineralization still remains open in several directions. The Company geologists will now compile the 216-hole database and model the mineralization for the next step of a mineral resource estimate."

Eastside Drill Testing Highlights; Average grade 0.47% V2O5 and 42.2m (138.5ft) thick

 Drill hole ID From (m) To (m) Length (m) Est. True (m) From (ft) To (ft) Length (ft)   Est. True (ft) V2O5 (%)
RCC18-31* 4.57 44.2 39.62 35.7 15 145 130 117 0.79
RCC18-46 0.00 73.15 73.15 73.2 0 240 240 240 0.60
RCC18-58* 19.81 25.91 6.1 5.5 65 85 20 18 0.35
  35.05 79.25 44.2 39.8 115 260 145 131 0.39
RCC18-59* 77.72 97.54 19.81 14.9 255 320 65 49 0.24

 angled holes*

The eastside of the mineralization was tested by five holes along a 400m (1300ft) length. Four holes successfully encountered the thick vanadium mineralized zone beyond the limits of the known mineralization with grades ranging from 0.24%to 0.79% V2O5 and tabled above. This drilling showed an average grade of 0.47% V2O5 and an average true thickness of 42.2m (138.5ft). Hole RCC18-46 was exceptionally thick at 73.15m true thickness starting at surface. Hole RCC18-56 did not encounter any significant mineralization likely due to fault-offsetting.

Northwest Drill Testing Highlights; Average grade 0.55% V2O5 and 14.4m (47ft) thick

Drill hole ID From (m) To (m) Length (m)   Est. True (m) From (ft) To (ft) Length (ft) Est. True (ft) V2O5 (%)
RCC18-35 13.72 30.48 16.76 16.76 45 100 55 55 0.85
RCC18-49 13.72 24.38 10.67 10.67 45 80 35 35 0.270
RCC18-50 12.19 18.29 6.1 6.10 40 60 20 20 0.240
RCC18-53 15.24 24.38 9.14 9.14 50 80 30 30 0.32
RCC18-55 13.72 32 18.29 18.29 45 105 60 60 0.73
RCC18-63 6.1 22.86 16.76 16.76 20 75 55 55 0.71
RCC18-65* 0 22.86 22.86 17.15 0 75 75 56.3 0.7

angled holes*

The 300m x 220m northwest area which had been reported on in the November 7, 2018 news release, received an additional eight drill holes. Seven holes successfully encountered the vanadium mineralized zone near surface with grades ranging from 0.24% to 0.85% V2O5 and tabled above. The additional drilling showed an average grade of 0.55% V2O5 and an average true thickness of 14.4m (47ft), similar to the average results reported in the November 7, 2018 news release of 0.60% V2O5 and 18.7m (61ft) thick. Hole RCC18-51 did not encounter any significant mineralization likely due to leaching of grade in a fault zone. Holes RCC18-61 and 62 outside of the area were later found to have been drilled below the zone so did not encounter any significant mineralization.

Westside Drill Testing Highlights; Average grade 0.31% and 19m (56ft) thick

Drill hole ID From (m) To (m) Length (m) Est. True (m) From (ft) To (ft) Length (ft) Est. True (ft) V2O5 (%)
RCC18-36 0 3.05 3.05 3.05 0 10 10 10 0.27
  15.24 30.48 15.24 15.24 50 100 50 50 0.21
RCC18-37 0 10.67 10.67 10.67 0 35 35 35 0.32
  15.24 35.05 19.81 19.81 50 115 65 65 0.33
RCC18-47 0.00 9.14 9.14 9.14 0 30 30 30 0.28
RCC18-48 0.00 42.67 42.67 42.67 0 140 140 140 0.26
RCC18-57* 3.05 38.1 35.05 26.29 10 125 115 86 0.54
RCC18-66* 7.62 19.81 12.19 9.14 25 65 40 30 0.28

angled holes*

Six holes were drilled in an area 550m x 50m on the western edge of the known mineralization. All holes encountered the vanadium zone with grades near surface between 0.21% and 0.54% V2O5, extending the known mineralization. Three broad spaced holes RCC18-38, RCC18-39 and RCC18-45 drilled west of the 550m x 50m area did not encounter significant mineralization.

Seven of the 25 holes were angle holes; adjusted and estimated true thickness (Est. True) of their intercepts are displayed in the tables above. The drill intercepts of the vertical holes are considered true thickness.

The Carlin Vanadium deposit is considered the largest, highest grade primary vanadium deposit in North America (USGS Professional Paper 1802 Critical Mineral Resources of the United States-Economic and Environmental Geology and Prospects for Future Supply dated December 18, 2017).

Vanadium is growing in importance for key industrial manufacturing sectors most notably steel and renewable energy. Today, more than 90% of the world's vanadium is used in steel manufacturing applications. Its importance to the energy sector is also growing rapidly with more than 5% of vanadium production used in energy storage where its substantial cost and performance benefits make it an alternative choice to lithium ion in several areas.

About First Vanadium Corp.

First Vanadium (formerly Cornerstone Metals Inc.) has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada on Highway I-80. The Carlin Vanadium Project hosts the Carlin Vanadium Deposit which is flat to shallow dipping and at shallow depths, 0-60 m (0-200 ft) below surface.

ON BEHALF OF FIRST VANADIUM CORP.

per: "Paul Cowley"
CEO & President
(604) 340-7711
This email address is being protected from spambots. You need JavaScript enabled to view it.

www.firstvanadium.com

Technical disclosure in this news release has been reviewed and approved by Paul Cowley, P.Geo., a Qualified Person as defined by National Instrument 43-101, and President and CEO of the Company.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include the Company's ability to meet the conditions required to exercise in full its option to acquire the Carlin Vanadium project and with respect to current and planned drill programs, the results of exploration programs, metallurgical test work, and changes in mineral resources. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

Vancouver, British Columbia--(Newsfile Corp. - January 10, 2019) - First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) (formerly Cornerstone Metals Inc.)  ("First Vanadium" or the "Company") is pleased to announce results from an additional 17 confirmation drill holes from within and along a 1,220 metres ("m") (4,000ft) corridor of mineralization at its Carlin Vanadium Project located 6 miles south of Carlin, Nevada. Three highlight intervals from this drilling encountered 41.15m (135ft) grading 0.84% vanadium ("V2O5"), 38.1m (125ft) grading 0.75% V2O5 and 27.43m (90ft) grading 0.84% V2O5. The average grade of these 17 holes is 0.54% V2O5. The average estimated true thickness of the zone in these 17 holes is 33.7m (110ft). The highlights of the 17 holes are tabled below.

First Vanadium President and Chief Executive Officer, Paul Cowley stated, "We continue to be pleased with these drill results that reinforce continuity of a thick, shallow, near horizontal bed of high-grade vanadium mineralization, correlating well to the nearest previous drill holes and improving drill density. Remaining drill assay results from an additional 25 exploratory holes, are expected to be released next week."

Confirmation Drilling Highlights:

Drillhole ID From (m)  To (m)    Length (m)  Est.True (m)  From (ft)  To (ft)  Length (ft)  Est.True (ft)  V2O5 (%) 
RCC18-21* 76.20 114.30 38.10 32.4 250 375 125 106 0.75
RCC18-22* 62.48 103.63 41.15 35.0 205 340 135 115 0.84
RCC18-23* 27.43 80.77 53.34 45.3 90 265 175 149 0.64
RCC18-30* 36.58 77.72 41.15 30.9 120 255 135 101 0.64
RCC18-32* 57.91 88.39 30.48 27.7 190 290 100 91 0.48
RCC18-33* 18.29 62.48 44.20 33.2 60 205 145 109 0.47
RCC18-40* 9.14 47.24 38.10 32.8 30 155 125 108 0.52
RCC18-41* 1.52 22.86 21.34 16.0 5 75 70 53 0.35
  36.58 100.58 64.01 48.0 120 330 210 158 0.65
RCC18-42* 6.10 59.44 53.34 50.7 20 195 175 166 0.38
RCC18-43* 64.01 86.87 22.86 19.4 210 285 75 64 0.27
RCC18-44* 18.29 32.00 13.72 10.3 60 105 45 34 0.30
  39.62 103.63 64.01 48.0 130 340 210 158 0.25
RCC18-52 7.62 45.72 38.10 38.1 25 150 125 125 0.58
RCC18-54 0.00 12.19 12.19 12.2 0 40 40 40 0.51
RCC18-60 0.00 18.29 18.29 18.3 0 60 60 60 0.62
RCC18-64* 0.00 27.43 27.43 20.6 0 90 90 68 0.84
RCC18-67* 57.91 85.34 27.43 20.6 190 280 90 68 0.27
RCC18-69 28.96 62.48 33.53 33.5 95 205 110 110 0.50

A map has been placed on the Company website to demonstrate the location of these holes. (https://firstvanadium.com/images/PDF/News_release_Jan_10_2019.pdf)

Four of the holes, RCC18-32, RCC18-43, RCC18-44 and RCC18-67, ended in mineralization. Holes RCC18-32, RCC18-43 and RCC18-67 also returned 10m (30ft) to 25m (75ft) thick, near surface, flat-lying mineralized intervals above the main high-grade zone that graded between 0.21% and 0.26% V2O5.

Thirteen of the 17 holes were angle holes; adjusted and estimated true thickness (Est. True) of their intercepts are displayed in the table above. The drill intercepts of the vertical holes are considered true thickness.

The Carlin Vanadium deposit is considered the largest, highest grade primary vanadium deposit in North America (USGS Professional Paper 1802 Critical Mineral Resources of the United States-Economic and Environmental Geology and Prospects for Future Supply dated December 18, 2017).

Vanadium is growing in importance for key industrial manufacturing sectors most notably steel and renewable energy. Today, more than 90% of the world's vanadium is used in steel manufacturing applications. Its importance to the energy sector is also growing rapidly with more than 5% of vanadium production used in energy storage where its substantial cost and performance benefits make it an alternative choice to lithium ion in several areas.

About First Vanadium Corp.

First Vanadium (formerly Cornerstone Metals Inc.) has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada on Highway I-80. The Carlin Vanadium Project hosts the Carlin Vanadium Deposit which is flat to shallow dipping and at shallow depths, 0-60 m (0-200 ft) below surface.

ON BEHALF OF FIRST VANADIUM CORP.

per: "Paul Cowley"
CEO & President
(604) 340-7711
This email address is being protected from spambots. You need JavaScript enabled to view it.

www.firstvanadium.com

Technical disclosure in this news release has been reviewed and approved by Paul Cowley, P.Geo., a Qualified Person as defined by National Instrument 43-101, and President and CEO of the Company.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include the Company's ability to meet the conditions required to exercise in full its option to acquire the Carlin Vanadium project and with respect to current and planned drill programs, the results of exploration programs, metallurgical test work, and changes in mineral resources. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.