Wildcat Exploration Ltd.

Wildcat Exploration Ltd.

July 24, 2009 08:30 ET

Wildcat Exploration Ltd. Updates Summer Exploration Progress; Announces Options Grant

WINNIPEG, MANITOBA--(Marketwire - July 24, 2009) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) has commenced a second phase of surface exploration on its Jeep property, a gold project 13 kilometres east of the town of Bissett, Manitoba.

Work conducted during the first phase of the summer 2009 program resulted in the discovery of three additional high grade gold occurrences in proximity to the historic Jeep mine (see News Release July 8, 2009). The Company's geologists are supervising mechanized and hydraulic stripping of overburden. Sampling of the associated mineralized structures is ongoing and assay results will be released as they become available.

The Company is in the permitting process for the planned 2009 surface exploration programs on its Reed Lake, MB and Foster River, SK base metal projects.

Subject to regulatory approval, Wildcat has granted incentive stock options to purchase up to 2,675,000 common shares of the Company to certain directors, officers, employees and consultants of the Company under its stock option plan. The options are exercisable for a five year period at an exercise price of $0.10 per share, with one half of the options vesting immediately and one half vesting on the first anniversary of the grant date.

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).

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)
    Wildcat Exploration Ltd.
    Suite 203, 1780 Wellington Avenue
    Winnipeg, Manitoba, R3H 1B3
    Email: info@wildcat.ca
    Website: www.wildcat.ca