Pacific Wildcat Resources Corp.
TSX VENTURE : PAW

Pacific Wildcat Resources Corp.

April 27, 2011 11:03 ET

Further High Grade Niobium and Rare Earth Results From Pacific Wildcat Resources Inaugural Drilling Program at Mrima Hill

VANCOUVER, BRITISH COLUMBIA, CANADA--(Marketwire - April 27, 2011) -Pacific Wildcat Resources Corp. (TSX VENTURE:PAW) ("PAW" or the "Company") is pleased to announce further high grade niobium and rare earth assay results from holes drilled in the Company's inaugural 974 metres Reverse Circulation drill program at its Mrima Hill Project in Kenya. (For further details of project see Company's news release dated 28th February 2011 and titled "Pacific Wildcat completes Mrima Hill Acquisition and Final Tranche of Private Placement").

Due to a breakdown of equipment in the previous laboratory the Company chose to have all 31 holes re-assayed at a new laboratory and to also conduct further assay checks for quality control. The following assay results represent new results for a further 7 holes as well as re assay results of 9 holes previously reported (For further details of previously reported assays see Company's news release dated 28th March 2011 and titled "Pacific Wildcat Resources inaugural drilling program at Mrima Hill Intersects High Grade Rare Earth and Niobium Mineralisation").

Significant niobium and or rare earth mineralisation has been encountered in all of the 16 holes for which new assay results have been received. This provides further confirmation to the high grade nature of the mineralisation and gives confidence to the Company of the validity of the historic exploration results and the assays from test shafts completed in the 1950's by Anglo American and the Kenyan Mines Department.

High Grade Niobium assay results include:

DRILL HOLEINTERSECTION
PAWRC00725m at 0.78% Nb205 from 5m
PAWRC015:13m at 1.99% Nb205 from 17m to EOH ("End of Hole")
PAWRC016:13m at 2.11% Nb205 from 17m to EOH
PAWRC017:30m at 0.87% Nb205 from surface to EOH
PAWRC019:43m at 0.72% Nb205 from surface to EOH
PAWRC020:13m at 0.91% Nb205 from surface
PAWRC021:30m at 0.84% Nb205 from surface to EOH
PAWRC023*:30m at 1.04% Nb205from surface to EOH
PAWRC024*:30m at 1.21% Nb205from surface to EOH
PAWRC025*:30m at 1.28% Nb205from surface to EOH including 3m at 3.94% Nb205from 27m to EOH
PAWRC026*:24m at 1.15% Nb205from surface to 24m (assay results only received to 24m)
*Hole previously not reported

In addition significant Rare Earth assay results include:

DRILL HOLEINTERSECTION
PAWRC006:46m at 6.21% TREO ("Total Rare Earth Oxides" including Yttrium) from surface.
PAWRC007:40m at 6.60% TREO from surface to EOH
PAWRC008*:30m at 6.45% TREOfrom surface to EOH
PAWRC014*12m at 2.85% TREOfrom surface to EOH
PAWRC015:7m at 2.60% TREO from surface to 7m and 12m at 5.82% TREO from 18m to EOH
PAWRC016:5m at 3.29% TREO from surface to 5m and 13m at 6.22% TREO from 17m to EOH
PAWRC017:30m at 3.62% TREO from surface to EOH
PAWRC019:43m at 3.22% TREO from surface to EOH
PAWRC021:29m at 3.52% TREO from surface
PAWRC023*:25m at 3.86% TREOfrom surface
PAWRC024*:30m at 3.44% TREOfrom surface to EOH
PAWRC025*:30m at 3.67% TREOfrom surface to EOH
PAWRC026*24m at 2.72% TREO from surface to where assays received
*Hole previously not reported

The reported assay results are from the Genalysis laboratory in Perth. Reported grades are significantly higher for niobium and also moderately higher for Rare Earths than those reported on 28th March (see Company Press Release titled "Pacific Wildcat Resources inaugural drilling program at Mrima Hill Intersects High Grade Rare Earth and Niobium Mineralisation") which had been assayed at the Nagrom laboratory's in Perth. The decision was made to have all the samples re-assayed at Genalysis after the malfunction of the ICPMS equipment at Nagrom. After the initial results were analysed from Genalysis it became apparent that there was a systematic under reporting of Niobium assays from the Nagrom laboratory. In total 100 check assays were sent to a third independent laboratory (Ultratrace) in Perth which confirm the new assay values from Genalysis. Indications are the Niobium results from Genalyisis may still be underreporting and this will be investigated with further test work regarding the assay digestion methods and whether there is full dissolution of the sample.

Management is especially encouraged in that the high grade mineralisation intercepted often extends to the bottom of the hole drilled. Of the 31 RC holes drilled the majority ended within an oxidised weathered clay rich zone.

Diamond drilling by Anglo American in the 1950's indicated that this weathered zone in places extends below 100 metres vertical depth. Anglo did not systematically analyse for rare earth mineralisation.

The 31 RC holes drilled had a vertical orientation and averaged 30 metres in depth. The holes were sited on accessible tracks to drill beside former test pits dug by Anglo American (Niobium) and the Kenyan Mines Department (Rare Earths) to help verify the historical grades. This phase of drilling was completed in November 2010 and samples were submitted for assay in March 2011. Re-assay results are now available for reporting for holes PAWRC006-008 and PAWRC014-026.

The high grade rare earth intersections coincide with the southern zone of mineralisation, as drilled by holes PAWRC001-010 and of which results have been received from holes PAWRC006-008. This area was originally outlined by the Kenyan Mines Department in the 1950's as being prospective for rare earth mineralisation. For a record of the rare earth intersections from the 16 holes being reported please refer to Table 1.

Table 2 shows for the 16 holes being reported the individual rare earth oxides as a percentage of total rare earth oxides including Yttrium, a transitional element that is generally incorporated with rare earths.

Significant niobium mineralisation was encountered by the Company primarily in the northern area drilled as reported with holes PAWRC014-026. The drill results coincide with the area identified by Anglo American as a zone of high grade niobium mineralisation. This was outlined from the multiple test pits that were dug in the mid 1950's to an average 9.1 metres depth. For a record of all intersections from the 16 holes being reported please refer to Table 3.

All samples collected were from one metre intervals. Sample recovery was good and ranged between 10 to 20 kilograms per sample. Poor sample return was rare and was due to the intersection of cavities with the drill hole. Drill samples were fed through a sample splitter and a sample size of 1 to 3 kilograms was submitted to Nagrom Mineral Processing in Perth, Western Australia for preparation. This preparation involved sample drying, splitting and pulverising. Sample analysis was performed by Genalysis Laboratory in Perth using peroxide fusion and acid dissolution with ICP-MS finish.

Thorium levels encountered averaged 559 ppm in the rare earths intercepts and 498 ppm in the niobium intercepts.

Figure 1 shows the location of the 31 holes drilled by PAW in 2010 overlying a geological map taken from mapping by Anglo American in the mid 1950's plus the location of Anglo's test pits.

Figure 2 shows the significant intersections.

Background on the Mrima Hill Project

The Mrima Hill Project is located in the southeast of Kenya and is 70 kilometres south of Mombasa, the largest port in East Africa. The ground area covered by the Mrima Hill licences is 1,180 sq. km. Mrima Hill has a target niobium mineralisation based on historic data consisting of 40 to 50M tonnes grading 0.7% - 0.8% Nb2O5 (based on a cut-off grade of 0.2% Nb2O5) with a high grade component of 10 to 15M tonnes at a grade of 1.2% - 1.45 % Nb2O5. (Based on a cut-off grade of 1.0% Nb2O5).

In addition a large Rare Earth Oxide mineral deposit is located coincidently and in close proximity to the Niobium deposit at Mrima Hill. *Binge FW (1955) reports a total of 32 million tonnes of mineralisation at 3.1% REO in the surface weathered profile down to approximately 8m depth (see Company News Release– dated 23rdJuly 2010).

Note that the potential quantities and grades of the above estimates are conceptual in nature, and there is insufficient exploration to date to define a mineral resource and therefore it is uncertain if further exploration will result in the target being delineated as a mineral resource. A "qualified person" as defined under National Instrument 43-101 has not completed sufficient work to classify the above mentioned historical estimate as a current mineral resource. The Company is not treating the historical estimate as a current mineral resource. The historical estimate is not compliant with NI 43-101 and should not be relied upon.

Closing Comments

PAW's President Mr. Darren Townsend commented "Whilst the breakdown and subsequent delay at the laboratory are frustrating we continue to see very impressive Niobium and Rare Earth Results from Mrima Hill. We are extremely pleased that the mineralisation is shown to extend at depth and broadly confirms the historic data. The assay results from Genalysis for the residual holes are expected to be available in the next 2 weeks. Preparations are well advanced for the next stage of drilling at Mrima Hill and we expect to be in a position to update the market shortly on the commencement of a 1,700 m diamond drilling program"

ON BEHALF OF THE BOARD OF DIRECTORS OF PACIFIC WILDCAT RESOURCES CORP.

"Darren Townsend", President

Investors are cautioned that trading in the securities of Pacific Wildcat Resources Corp. should be considered highly speculative. The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary note: This press release contains forward looking statements, particularly those regarding cash flow, capital expenditures, work programs and investment plans. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors.

Resource estimates, unless specifically noted, are considered speculative. The Company intends to file a NI 43-101 report on the Mrima Hill property to confirm the historical resource estimate as soon as the information is available. All the niobium and rare earth estimates of historic resources predate and are therefore non-compliant with National Instrument 43-101 ("NI 43-101") reporting standards and should not be relied upon. The Company is not treating the historical estimates as current mineral resources or reserves. The Company has not undertaken any independent investigation of the historic resource estimates nor has it independently analysed the results of the previous exploration work in order to verify the resources and therefore the historical estimates should not be relied upon. The Company believes that these historical resource estimates provide a conceptual indication of the potential of mineral occurrences within the project and are relevant to ongoing exploration. The Company intends to confirm the historic resource estimates through drilling as soon as possible.

* Binge FW 1955 – Assay Plan and values for REE, Mrima Hill, internal unpublished report of Geological Survey of Kenya

A Quality Assurance/Quality Control (QA/QC) program forms part of the drilling, sampling and assay program on the Mrima Hill Project. This program includes chain of custody protocol as well as systematic submittal of certified reference materials and blank samples into the flow of samples produced by the drilling. The results of the Company's drill program have been reviewed, verified (including drill logs, assay certificates, test data and additional supporting information sources) and compiled by the Company's Exploration Manager (Timothy David Major, who is a qualified person for the purpose of NI 43-101 – Standards of Disclosure for Mineral Projects).

QUALIFIED PERSON AND DISCLAIMER

Qualified Person: Timothy David Major, BSc, MSc – Geology and Mineral Exploration. MAusIMM. Qualified person under NI 43‐101, and as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' has reviewed the scientific and technical data and exploration data relating to the Mrima Hill Project contained in this news release and consents to its release.

Figures 1 and 2, and tables 1, 2, 3 are available at the following address:
http://media3.marketwire.com/docs/Pacific_Wildcat_maps_tables.pdf

Contact Information