Wildcat Exploration Ltd.
TSX VENTURE : WEL

Wildcat Exploration Ltd.

November 13, 2009 15:40 ET

Wildcat Exploration Ltd. Closes $1,000,000 Non Flow-Through Financing

WINNIPEG, MANITOBA--(Marketwire - Nov. 13, 2009) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to announce the closing of a non-brokered private placement of common shares for gross proceeds of $1,000,000. The Company will use the proceeds for corporate activities including those related to ongoing exploration activities in Manitoba on the Company's gold projects in the Rice Lake greenstone belt, the Reed base metal and PGE project in the Flin Flon greenstone belt, and the Company's Foster zinc-lead-silver project in Saskatchewan.

The Company is in the final stages of planning a minimum 2,500 meter drill program on its Jeep Gold project, where previous drilling by the Company has intersected up to 109.5 g/t Au (3.52 opt) over a core length of 0.78 meters. The Jeep Gold project is the site of the former Jeep Gold mine, reputed to be Manitoba's highest average grade gold producer. The project is 14 kilometers east of Bissett, Manitoba where San Gold Corporation has recently discovered significant new near surface zones of high grade gold within the historic San Antonio mine lease.

Subject to TSX approval a total of 8,333,333 common shares have been issued at a price of $0.12 share. In connection with the financing, a finder's fee of $50,000 has been paid, and 416,666 finder's warrants have been issued by the Company. Each warrant is exercisable to purchase one common share for $0.175 before November 14, 2011.

"We are pleased to have attracted this institutional interest in Wildcat," says the Company's president, John Knowles. "This reflects confidence in our team, our projects and our potential. It is a testament to our recent exploration successes and the current level of success on adjacent properties in both of our Manitoba mining camps."

About Wildcat Exploration Ltd.
Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base metals in Canada. Its portfolio includes: (1) several precious metal properties in the Rice Lake greenstone belt in Manitoba, (2) the Reed base metal and PGE property in the Flin Flon greenstone belt in Manitoba and (3) the Foster zinc-lead-silver 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).

Source: Wildcat Exploration Ltd.

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.

"Neither the 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."

Contact Information

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