Appleton Exploration Inc. Announces Financing with MineralFields

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.

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.