Shelton Canada Corp.: Grant of Stock Options

CALGARY, ALBERTA–(Marketwire – July 4, 2008) – Shelton Canada Corp. (“Shelton”) (TSX VENTURE:STO) today announced that the Board of Directors has approved a grant of stock options to directors of Shelton to purchase an aggregate of 800,000 common shares at an exercise price of $0.32 per common share pursuant to its stock option plan. The stock options expire five years from the date of grant.

About Shelton Canada Corp.

Shelton Canada Corp. is an internationally focused junior oil and gas exploration and development company, headquartered in Calgary, Alberta and listed on the TSX Venture Exchange. Shelton’s primary operations are in Ukraine. The company’s five-year goal is to work strategically with its regional partners to become the leader in oil and gas production from Ukraine’s resource-rich Azov and Black Sea hydrocarbon basins. A 50-percent Joint Investment Agreement (J.I.A.) with Chernomorneftegas, a leading Crimean oil and gas company, gives Shelton the opportunity to develop concessions in the offshore properties of Biryuchya and North Kerchenskaya. A strategic partnership with Ukrnafta, Ukraine’s largest oil and gas company, provides Shelton with 45 per cent participation in the Kashtan Petroleum Joint Venture and operations in the Lelyaki oil field.

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