Wildcat Exploration Ltd.
TSX VENTURE : WEL

Wildcat Exploration Ltd.

November 12, 2007 16:47 ET

Wildcat Expands Reed Lake Project in Manitoba

WINNIPEG, MANITOBA--(Marketwire - Nov. 12, 2007) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) ("Wildcat" or the "Company") is pleased to announce the staking of 3201 hectares of additional mining claims in the Reed Lake district enlarging its total contiguous land position to 6156 hectares on the west side of Reed Lake, all located in the prolific Flin Flon-Snow Lake base metals camp in Manitoba.

The newly acquired claims extend the project area in a NNE direction adjacent to an area where historical and recent drill results indicate the presence of nickel-copper bearing rocks (Cream Minerals), and a volcanogenic massive sulphide (VMS) occurrence known as the Rail Lake Deposit.

As a result of geological traverses in the summer of 2007 the Company believes that the Reed Lake property is underlain by three distinct geological environments (from S to N): a) a layered mafic ultramafic intrusive complex prospective for copper, nickel, and Platinum Group Metals ; b) a more massive mafic ultramafic rock suite, with outcrops characterized by abundant malachite (copper carbonate) staining and c) felsic to intermediate volcanic rocks that are prospective for hosting copper-zinc volcanogenic massive sulphide zones prevalent in the district.

Linecutting is currently underway on the layered intrusive and the more massive northern portion of the mafic ultramafic Reed Lake intrusion. The area will be surveyed by airborne mag and EM within the next few weeks. Anomalous zones identified with the airborne survey are to be followed up by an IP survey to identify prospecting and drilling targets for the upcoming season.

Wildcat is in a strong financial position to carry out planned work on several of its properties as a result of its recently announced financing (See News Release; October 31, 2007). The Company's exploration programs are under the guidance of Dr. Peter Theyer, P.Geo, former Senior Geologist with Department of Industry Trade and Technology, Minerals Division, Province of Manitoba.

The Company invites shareholders and the investing public to visit Wildcat's booth at the Mid-Canada Investment Forum at the Fairmont Hotel in Winnipeg, Manitoba on Tuesday, November 13, 2007.

Wildcat will also be attending the Manitoba Department of Science, Technology, Energy and Mines Annual Convention at the Winnipeg Convention Centre November 15-17, 2007.

Wildcat's exploration program is being managed by Peter Theyer, P.Geo.; a Qualified Person as defined by NI 43-101. All technical information in this release has been reviewed by Peter Theyer, P.Geo. as the Qualified Person.

About Wildcat Exploration Ltd.

Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base metals in Canada. Its portfolio includes: (1) the Foster River lead zinc project in Saskatchewan, (2) three gold properties and one gold and platinum group element (PGE) property in the Rice Lake greenstone belt in Manitoba, and (3) two PGE properties in the Snow Lake area of Manitoba. 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.
    Wayne Stebbe
    Vice President, Investor Relations
    (204) 944-8916
    (204) 944-8918 (FAX)
    or
    Wildcat Exploration Ltd.
    Suite 203, 1780 Wellington Avenue
    Winnipeg, Manitoba, R3H 1B3
    Email: Email: info@wildcat.ca
    Website: www.wildcat.ca