Appia Energy Corp.

June 23, 2008 11:23 ET

Appia Energy Corp. Completes Financings Totalling $5,039,075 Including $1,747,500 From MineralFields Group

TORONTO, ONTARIO--(Marketwire - June 23, 2008) - Appia Energy Corp. (the "Corporation") is pleased to announce that since November of 2007, Appia has raised $2,731,250 through the issuance of 2,185,000 flow-through common shares at a price of CDN$1.25 and $2,307,825 through the issuance of 2,307,825 common shares at a price of CDN$1.00. MineralFields Group subscribed for 1,398,000 flow-through shares for an aggregate of $1,747,500 The Corporation paid a finder's fee to Limited Market Dealer Inc. ("LMD") of 10% Common Shares, in respect of subscription received through LMD. In addition, the Corporation also paid finder's fee totalling 63,400 Common Shares and $91,800 in cash in respect of the balance of the financings.

"We are very pleased to be entering into this relationship with MineralFields Group", said Tom Drivas, President and CEO. "This is an important milestone in the growth of Appia Energy Corp. and we look forward to working with MineralFields Group as we develop our holdings in the Elliott Lake region."

All Flow-Through Shares and Common Shares are restricted from trading until the later of four months and a day after (i) the closing date and (ii) the date the Corporation becomes a reporting issuer in any Province or Territory. All subscribers have agreed to a voluntary escrow of their securities.

The funds received from the flow-through private placement will be used for qualified exploration expenses. The funds received from the sale of Common Shares will be used for general working capital.

About Appia Energy Corp

Appia Energy Corp. is a Canadian resource exploration company focused on the development of uranium assets. Appia presently controls claims in the Elliot Lake area, which is in the Sault St. Marie Mining District in the Province of Ontario.

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 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.

Cautionary Note Regarding Forward-Looking Statements: This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements. The reader is cautioned not to put undue reliance on such forward-looking statements.

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