Shelton Canada Corp. - News Release

    CALGARY, July 4 /CNW/ - Shelton Canada Corp. ("Shelton or the
"Company")(TSX Venture: STO) wishes to advise the following with respect to a
recent review by the Ontario Securities Commission of the Company's continuous
disclosure materials:

    The Business Acquisition Report dated October 15, 2007 (the "BAR")has
    been refiled on SEDAR at This report pertains to the
    Company's purchase of all the outstanding shares of Zhoda (2001)
    Corporation ("Zhoda"), which owns a 45% interest in the Lelyaki oil field
    in east-central Ukraine. The following changes were made to the report in
    Schedule A, being the addition of the interim period ended June 30, 2007
    financial statements and the notes thereto, being the removal of the
    draft audited financial statements of Zhoda for the year ended December
    31, 2006, being the addition of the audited financial statements of Zhoda
    for the year ended December 31, 2006 and being the removal of the Report
    to the Audit Committee. These changes have no impact on either Shelton's
    financial statements or the Business Acquisition Report.

    About Shelton Canada

    Shelton Canada Corp. (, a Canadian-based junior oil
and gas company, is focused on exploring and developing the resource-rich
basins of Ukraine. The company has an internationally experienced board of
directors and a long history of successful operations in Ukraine. These
competitive advantages have helped Shelton to build effective personal
relationships, strategic regional partnerships, a large land position and a
portfolio of projects on and offshore. Shelton's long-term goals are to become
the leader in oil and gas production from the resource-rich Azov and Black Sea
basins in five years.

For further information:

For further information: For general inquiries and investor information:
Zenon Potoczny, President & CEO, (416) 252-4101,; or
Richard Edgar, Chairman, (403) 237-9996; or Hedlin Lauder Investor Relations
Ltd., Toll Free 1-800-299-7823, Office (403) 232-6251,

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