STO

Shelton Canada Corp. ("Shelton" or the "Company") (TSX VENTURE:STO) has filed
its Audited Consolidated Financial Statements for the year ended December 31,
2008 and related Management's Discussion and Analysis ("MD&A"), which are
available on SEDAR at www.sedar.com.


Shelton is pleased to announce consolidated revenue from continued operations of
$9.789 million for year ending December 31, 2008 compared to $2.826 million from
continued operations for the thirteen months ending December 31, 2007. In
addition, net income for the year ended was $499,435 versus net (loss) of
($771,158) for the thirteen months ended December 31, 2007. The significant
improvement in revenue and net income reflect Shelton's successful expansion
into Ukraine.


Highlights for the year ended December 31, 2008:

- Revenue increased to $9.789 million compared to $2.826 million for the
thirteen months ending December 31, 2007 from continued operations.


- The Company reported net income of $499,435 for the year ending December 31,
2008 as compared to a (loss) of ($771,158) for the thirteen months ending
December 31, 2007.


- Cash flow from continuing operations was $988,944 for the year ending December
31, 2008 as compared to cash used for continuing operations was $393,057 for the
thirteen months ending December 31, 2007 (1).


- The company established a strengthened balance sheet for the year ending
December 31, 2008, with a working capital surplus of $2,204,722 as compared to a
working capital surplus of $1,129,537 for the thirteen months ending December
31, 2007.


Zenon Potoczny, President, commented as follows:

"The Company has achieved good operating success in 2008, leading to a record
year with respect to revenue, net income and working capital surplus. Looking
ahead, we believe we have a unique opportunity to expand our portfolio of
projects and enhance the interests of our shareholders in the coming fiscal
year."


Notes:

1. Funds flow from operations has been presented for information purposes only
and should not be considered an alternative to, or more meaningful than, cash
flow from operating activities as determined in accordance with Generally
Accepted Accounting Principals ("GAAP"). The Company considers funds flow from
operations to be a key measure as it demonstrates the Company's ability to
generate the cash necessary to fund future growth through capital investment.
The determination of Shelton's funds flow from operations may not be comparable
to the same reported by other companies. The reconciliation of net earnings and
funds flow from operations can be found in the statements of cash flow in the
financial statements as cash flow from operations before any asset retirement
obligation cash expenditures and is expressed before changes in non-cash working
capital.


About Shelton Canada Corp.

Shelton Canada Corp. (www.sheltoncdn.com), 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 in Ukraine. Shelton expects to become a leader in oil and gas
production from the resource-rich Azov and Black Sea basins within the next five
years.


Forward-Looking Information

Except for statements of historical fact relating to the company, this news
release contains certain "forward-looking information" within the meaning of
applicable securities law. Forward-looking information in this news release is
characterized by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", and other similar words, or statements that certain
events or conditions "may" "will" or "could" occur. There are uncertainties
inherent in forward-looking information, including factors beyond Shelton Canada
Corp.'s control, and no assurance can be given that such events will occur on
time or at all. Shelton Canada Corp. undertakes no obligation to update
forward-looking information if circumstances or management's estimates or
opinions should change, except as required by law. The reader is cautioned not
to place undue reliance on forward-looking statements. The risks and
uncertainties set forth above are not exhaustive. BOEs may be misleading,
particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 bbl is
based on an energy equivalency conversion method primarily applicable at the
burner tip and does not represent a value equivalency at the wellhead.

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