Wildcat Exploration Ltd.
TSX VENTURE : WEL

Wildcat Exploration Ltd.

September 09, 2013 12:45 ET

Wildcat Exploration Completes NB Drilling at Sewell Brook and Returns to Island Lake

WINNIPEG, MANITOBA--(Marketwired - Sept. 9, 2013) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to announce that it has completed its drill program on the Sewell Brook, NB property under the Wildcat - Doe Run Canadian Exploration Alliance (the "Alliance"), with assays pending. In addition, Wildcat's geologists have returned to the Island Lake property to carry out follow-up drilling on the basis of results of the July, 2012 program (see news release dated August 2, 2013).

The Sewell Brook property is located approximately 40 km southeast of Grand Falls, in Victoria County, NB and the Island Lake property is located approximately 4 km southeast of the former Heath Steele zinc-lead mine in Northumberland County, NB.

At Sewell Brook, four holes totaling 1,320 metres were drilled. The drill holes were designed to test the down-dip extension of the Sewell Brook zinc-lead deposit and two gravity anomalies as well as induced polarization and soil geochemistry anomalies in the vicinity of the Sewell Brook deposit. The best drill intercept received to date includes 1.24% zinc (Zn) and 0.36% lead (Pb) across 7.0 metres (137 m to 144 m) in diamond drill hole SB-2013-002. This hole was collared under previously intersected mineralization on the property.

At the Island Lake property, further assay results have been received, including:

  • Upper Railroad Zone: IL-2013-002b: 6.52% Zn, 3.22% Pb, 0.40% copper (Cu) across 2.08 m (594.52 m to 596.60 m
  • Lower Railroad Zone: IL-2013-002b: 3.8% Zn, 0.18% Pb, 0.44% Cu across 0.12 m (697.28 m to 697.4 m)
  • Lower Railroad Zone: IL-2013-002b: 1.15% Zn across 0.57 m (797.55 m to 798.12 m)
  • Rusty Ridge: IL-2013-003: 2.71% Zn across 0.9 m (100.15 m to 101.05 m)

The lead-zinc mineralization at the Island Lake property is hosted within felsic volcanic rocks, believed to be part of the Nepisiguit Falls Formation, which contains volcanogenic massive sulfide deposits typical of the Bathurst Mining Camp.

Tom Lewis, Wildcat's VP Exploration, commented, "We are encouraged by the grade of the mineralization at Island Lake and the potential for the zone to thicken. Further drilling on the property this fall will focus on understanding the controls on mineralization and its extent."

The Alliance is a strategic, base metal exploration agreement between Wildcat and Doe Run Canadian Exploration ULC ("Doe Run Canadian"), a British Columbia registered company (see news release December 11, 2012). Under the terms of the Alliance, properties are acquired and held by Doe Run Canadian, subject to Wildcat's right, under certain circumstances, to earn up to a 30% interest in one or more properties.

Drill intercept widths in this release represent metres down hole, not true width, calculation of which is pending geological interpretation.

Wildcat's exploration program is managed by Tom Lewis, P. Eng., a Qualified Person as defined by NI 43-101, who has reviewed all technical information in this release.

About Wildcat

Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base metals in Canada. It manages exploration on its own properties in Ontario, Manitoba and Saskatchewan. In addition, Wildcat is the manager of the Wildcat - Doe Run Canadian Exploration Alliance which explores in Canada for base metal deposits.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.

Cautionary Note

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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. 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.

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