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