Appleton Enters into Advisory Services Agreement with Byron Capital Markets

August 12, 2009 – Vancouver, British Columbia. Appleton Exploration Inc. (AEX – TSX.V) has entered into an Advisory Services Agreement with Byron Capital Markets, a division of Byron Securities Ltd. of Toronto. Pursuant to the terms of the agreement, Byron will act as a nonexclusive business advisor for an initial 4 month term, renewable on monthly basis after the initial term, at a fee of $10,000 per month. The agreement may be terminated by either party upon 30 days written notice.

Byron Capital Markets, a division of Byron Securities Limited, is a Toronto-based institutional investment dealer focused on small and mid market capitalization companies primarily in the energy and mining sectors.  Byron is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and provides companies with a full range of investment banking and advisory services to assist them through their various stages of development and growth.

Under the terms of the agreement, Byron will introduce Appleton to capital market participants  and other strategic investors; provide strategic advice to maximize shareholder value; assist with advice on Appleton’s strategic external growth initiatives; make introductions and structure relationships with strategic business partners; assist Appleton with structuring any potential transactions; and assist with any potential financing.

Appleton President Tim Henneberry states “We are very pleased to enter into this advisory business relationship with Byron to assist us in moving our Manalo Gold Project in the Republic of Mali, West Africa forward.” Information on the Manalo Gold Project can be found on the Company’s website: www.appletonexploration.com.

On Behalf of the Board of Directors,

“R. Tim Henneberry”

R.Tim Henneberry, P.Geo.

President and CEO

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 f or 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 results, level of activity, performance or achievements 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 exploration and 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 project parameters as plans continue to be refined, future prices of gold, as well as those 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.