TSX.V: CCC

Appleton Annual General Meeting to Consider Consolidation of Share Capital

June 29, 2011 - Vancouver, British Columbia.  Appleton Exploration Inc. (the "Company") (AEX - TSX.V) announces that at its annual general meeting of shareholders scheduled to be held on Tuesday, July 19, 2011 (the "Meeting"), the Company will be seeking shareholder approval for a resolution authorizing the board of directors, at their discretion, to consolidate the Company's common shares on a basis up to 5 pre?consolidation shares to 1 post consolidation share, the final ratio to also be determined by the directors.  The board of directors believes that it may be in the best interests of the Company to consolidate its share capital in order to provide increased flexibility in seeking additional financing opportunities, pursuing strategic business acquisitions, and to improve the market's perception of the Company.  The directors also believe it is in the best interests of the Company for the board to have the flexibility in effecting such a consolidation on the basis of up to five (5) pre?consolidation for one (1) post?consolidation common share.  Completion of the consolidation is subject to the approval of the Company's shareholders by ordinary resolution at the Meeting as well as approval of the TSX Venture Exchange.  There is currently an aggregate of 49,357,671 common shares issued and outstanding.  It is expected, that upon completion of a 5 for 1 consolidation, there would be an aggregate of approximately 9,871,534 common shares issued and outstanding.  If a consolidation is ultimately implemented, the Company will not be changing its name. 

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

 

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

Forward-Looking Statements 

This press release contains forward-looking statements.  All statements, other than statements of historical fact, constitute "forward-looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance. 

Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology.  All such forward-looking information and statements are based on certain assumptions and analyses made by the Company's management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances.  These statements, however, are subject to known and unknown risks, uncertainties and other factors that may cause the actual activity, of the Company to be materially different from those expressed, implied by or projected in the forward-looking information or statements.  Important factors that could cause actual results to differ from these forward-looking statements include but are not limited to: risks related to the potential development of the Company's projects, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in plans as they continue to be refined, future prices of gold, as well as various other factors discussed in the sections relating to risk factors of the Company set out in the Company's MD& A filed on SED AR. 

There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements.  Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.

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.