TSX.V: CCC

Appleton Exploration Inc. Announces Closing of Financing with MineralFields

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.

This website includes certain "forward-looking statements" such as estimates and statements that describe Cornerstone Metal Inc.’s property, future plans, objectives or goals. All statements in this website, other than statements of historical facts, that address future production, resource potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance or developments to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, market prices, environmental conditions, judicial, regulatory and political developments, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions.