AEX AEX Gold Inc

Appleton Exploration Inc. (TSX VENTURE: AEX) reports that pursuant to a letter of intent dated February 10, 2010, it has granted an option to Resource Hunter Capital Corp. ("Resource Hunter") to acquire an undivided interest of a minimum of 51% or a maximum of 75% in the Dora Gold Project, subject to a third-party 1.5% net smelter return royalty. The 12,067 hectare Dora Gold Project is located in the Spences Bridge Gold Belt, approximately 20 kilometres south of Merritt, British Columbia.

To acquire the minimum 51% undivided interest in the Dora Project, Resource Hunter will pay $25,000 to Appleton on or before the date of closing of Resource Hunter's Qualifying Transaction (the "effective date"); will issue an aggregate of 1,200,000 Units (each comprised of one common share and one warrant) on or before two years from the effective date; and complete expenditures on the Dora property in the aggregate of $1,100,000 on or before three years from the effective date.

To acquire the maximum 75% undivided interest in the Dora Project, Resource Hunter must fulfill the above requirements; issue to Appleton 500,000 additional Units; and make additional expenditures of $1,000,000 on or before four years from the effective date.

The proposed transaction is subject to (1) the approval by the Exchange, (2) Resource Hunter obtaining a legal opinion on title to the Property, (3) Appleton receiving third party consent from the original owner of the Property, and (4) the negotiation, execution and delivery of a definitive agreement.

Appleton completed over $750,000 in exploration on the Dora Project from 2006 through 2008, on programs of geochemical soil sampling, airborne geophysics, and excavator trenching. The property has several drill ready targets.

Appleton's president Tim Henneberry stated, "Appleton management is pleased to put the Dora property to work through the option with Resource Hunter Capital Corp. This allows Appleton to continue to concentrate all of its efforts on our exciting Manalo Gold Project."

Appleton's main focus is the Manalo Gold Project in Mali, West Africa. The latest drill results (see News Release 10-01 dated February 8, 2009) included highlights of 25 metres grading 6.27 grams per metric tonne in hole MDL09-073 and 7 metres grading 34.97 grams per metric tonne gold in hole MDL09-065.

Appleton has sufficient working capital on hand to fund its planned 2010 exploration programs. The next phase of drilling on the Manalo Gold Project is slated to begin in March.

On Behalf of the Board of Directors,

R.Tim Henneberry, P.Geo., President and CEO

Paul Cowley, P.Geo., Director of Appleton Exploration Inc., is the Qualified Person as defined in National Instrument 43-101, who has reviewed and approved the technical content of this news 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 SEDAR.

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.

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.

Contacts: Appleton Exploration Inc. Tim Henneberry (604) 694-0741 www.appletonexploration.com Contact Financial Corp. Investor Relations (604) 689-7422 or Toll Free 1-877-689-7411