Wildcat Exploration Ltd.
TSX VENTURE : WEL

Wildcat Exploration Ltd.

September 16, 2009 09:00 ET

Wildcat Encounters Elevated Gold and Associated Visible Gold on Jeep Project, Bissett MB

WINNIPEG, MANITOBA--(Marketwire - Sept. 16, 2009) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to announce that results from channel sampling being conducted on the Company's 100% owned Jeep property, located 13 km east of Bissett, Manitoba in the Rice Lake greenstone belt, has returned high grade gold, associated visible gold, and elevated silver values on the newly discovered Number 2 Showing (see Press Release July 8, 2009).

All samples collected from the Number 2 Showing contained elevated gold and silver concentrations with channel sample JP 17218 returning 9.60 g/t gold and 0.8 g/t silver across 0.86 metres. A total of 50 samples have been analyzed, covering 40 meters of the center portion of 70 meters of structure exposed to date. The structure is open along strike, and sampling is continuing in both directions along strike. Additional results will be announced as they become available.

The sampling consisted of 16 channel samples, cut at approximately 2.5 m intervals, with two representative grab samples collected between each channel sample. The channel samples, which varied between 0.41 metres to 1.35 metres in length, were collected using a gas powered rock saw to crosscut the mineralized shear zone. Axes and rock hammers were used to tap out the rock between the two parallel cuts leaving a channel in the outcrop. Rock of the sheared and mineralized zone formed the main portion of the cut sample, however, owing to the nature of a channel cut a minor part of variable length of the unaltered wallrock was generally included in the sample material.

The structure consists of a well and sharply defined ductile shear zone ranging from 8 cm to 81 cm thickness with generally abrupt and sharp boundaries to the hostrock that consists of massive, unaltered leuco- to mesogabbro. The shear zone, largely composed of chlorite schist, hosting quartz veins and quartz pods is derived from the gabbroic hostrock as evidenced by the common occurrence of intensely altered, partially comminuted gabbroic pods and remnants contained in the fabric of the shear. Quartz in the shear zone occurs as mm- to cm- thick milky white to translucent decimetre- long veinlets, pods and pebble-shaped inclusions. Sulphide mineralization, largely restricted to the shear zone, consists of disseminated pyrrhotite ranging from trace to 15% and of traces of arsenopyrite and pyrite.

Commenting on the results, John Knowles, CEO, said: "These results, coupled with data from historical drill intersections in the vicinity of the recently sampled area, indicate to us that the Number 2 Showing could be the expression of one or more high grade gold veins at shallow depth. The current program is proving to be a very cost effective means of adding to the inventory of gold bearing structures on the Jeep property. With excellent results like this, our winter drill program will include targets to explore this new structure down-dip. As information from the other gold showings in the area is analyzed we will continue to re-assess our initial drilling plans."

Wildcat is continuing its work on the Jeep property, and assay results from the Number 1 and Number 3 showings will be released as they are received from the laboratory and analyzed.



Gold Showing Number 2 Surface Sampling Assay Results

Channel Length
Channel Samples (m) Gold (g/t) Gold (oz/t) Silver (g/t)
----------------------------------------------------------------------------
JP17206 0.51 0.37 0.01 1.4
JP17209 1.35 1.52 0.04 1.4
JP17212 0.91 0.71 0.02 1.7
JP17215 1.09 2.26 0.07 1.5
JP17218 0.86 9.60 0.28 0.8
JP17223 0.94 1.89 0.06 1.4
JP17226 0.58 1.41 0.04 1.0
JP17229 0.56 0.18 0.01 1.1
JP17232 0.48 0.38 0.01 1.1
JP17235 0.48 0.33 0.01 1.2
JP17238 0.53 1.26 0.04 1.3
JP17241 0.69 0.26 0.01 1.2
JP17244 0.41 0.40 0.01 1.1
JP17247 0.94 0.46 0.01 1.6
JP17250 0.56 0.75 0.02 1.7
JP17253 1.32 1.12 0.03 1.3

Gold Gold Silver
Grab Samples (g/t) (oz/t) (g/t)
----------------------------------------------------------------------------
JP17204 7.99 0.23 2.0
JP17205 2.18 0.06 1.6
JP17207 16.67 0.49 9.9
JP17208 0.09 0.00 1.3
JP17210 0.04 0.00 1.3
JP17211 16.67 0.49 2.3
JP17213 1.35 0.04 1.4
JP17214 0.16 0.00 1.4
JP17216 8.5 0.25 2.1
JP17217 20.06 0.59 2.3
JP17219 5.66 0.17 0.6
JP17220 2.46 0.07 1.7
JP17221 4.22 0.12 1.3
JP17222 0.79 0.02 1.3
JP17224 1.31 0.04 0.2
JP17225 1.69 0.05 1.2
JP17227 4.25 0.12 1.3
JP17228 0.42 0.01 0.6
JP17230 0.21 0.01 1.2
JP17231 0.28 0.01 1.2
JP17233 1.18 0.03 1.2
JP17234 5.14 0.15 1.9
JP17236 7.48 0.22 2.5
JP17237 1.14 0.03 1.3
JP17239 0.08 0.00 0.8
JP17240 0.02 0.00 0.8
JP17242 0.05 0.00 1.1
JP17243 0.33 0.01 1.1
JP17245 0.17 0.00 1.4
JP17246 0.38 0.01 1.9
JP17248 1.77 0.05 2.6
JP17249 0.09 0.00 1.2
JP17251 2.43 0.07 1.7
JP17252 8.57 0.25 2.0
JP17254 9.29 0.27 2.0

Historic (1949) DDH Intersections in Gold Showing 2

Approx.
Hole From Vertical
# (m) To (m) Depth (m) Length (m) Gold (g/t) Gold (oz/t)
----------------------------------------------------------------------------
J71 29.56 29.87 22 0.31 trace 0.00
29.87 30.4 22 0.53 1.03 0.03

----------------------------------------------------------------------------
J72 28.73 29.03 22 0.3 trace 0.00
29.03 29.18 22 0.15 2.06 0.06
29.18 29.57 22 0.39 trace 0.00
29.57 30.25 22 0.68 1.7 0.05

----------------------------------------------------------------------------
J74 29.11 29.34 23 0.23 trace 0.00

----------------------------------------------------------------------------
J75 29.87 30.18 21 0.31 2.06 0.06
30.86 31.17 21 0.31 37.03 1.08

----------------------------------------------------------------------------
J77 26.67 26.82 19 0.15 15.77 0.46
26.82 26.97 19 0.15 trace 0.00

----------------------------------------------------------------------------
J78 46.56 46.86 40 0.3 0.69 0.02
47.4 47.63 40 0.23 1.71 0.05
68.28 68.5 58 0.22 0.69 0.02
92.96 93.04 79 0.08 1.71 0.05
101.42 101.57 87 0.15 0.69 0.02

----------------------------------------------------------------------------
J79 21.87 22.1 17 0.23 1.03 0.03
28.8 29.03 22 0.23 0.69 0.02
61.49 61.87 47 0.38 8.23 0.24


All samples were submitted to TSL Laboratories Inc. in Saskatoon, Saskatchewan, an ISO 17025 accredited assay lab, which uses standard industry practices for sample preparation and analysis. Wildcat's exploration program is managed by Peter Theyer, P.Geo, a Qualified Person as defined by NI 43-101, who has reviewed all technical information in this release.

About Wildcat Exploration Ltd.

Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base metals in Canada. Its portfolio includes: (1) four precious metal properties in the Rice Lake greenstone belt in Manitoba, (2) two base metal and PGE properties in the Snow Lake area of Manitoba and (3) the Foster River zinc project in Saskatchewan . As the Company builds its property portfolio, Wildcat welcomes proposals from owners of advanced Canadian exploration properties.

For further information on the Company please visit our website at www.wildcat.ca or contact us at info@wildcat.ca. The Company's public filings, including its most recent audited consolidated financial statements, can be reviewed on the SEDAR website (www.sedar.com).

This news release may contain "forward-looking information", within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to Wildcat's exploration program and plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "believes", "plans", "seeks", "expects", "budget" or variations of such words or statements that certain actions, events or results may, could, will, will be, would be or are expected to be. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wildcat to be materially different from those expressed or implied by such forward-looking information, including risks associated with the mineral exploration and mining industry such as economic factors, government regulation and approvals, environmental risks, success of exploration activities, future commodity prices, capital expenditures, requirements for additional capital, changes in project parameters as plans continue to be refined, conclusions of economic evaluations, the Company's history of operating losses and uncertainty of future profitability. Important factors that pertain to the risks and uncertainties associated with the Company's business are discussed more fully in the Company's disclosure documents filed from time to time with the Canadian securities regulators and available on www.sedar.com. Although Wildcat has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Wildcat does not undertake to update any forward- looking information, except in accordance with applicable securities laws.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Wildcat Exploration Ltd.
    John Knowles
    President CEO
    (204) 944-8916
    (204) 944-8918 (FAX)
    or
    Wildcat Exploration Ltd.
    Suite 203, 1780 Wellington Avenue
    Winnipeg, Manitoba, R3H 1B3
    info@wildcat.ca
    www.wildcat.ca