Wildcat Exploration Ltd.

Wildcat Exploration Ltd.

March 20, 2008 09:00 ET

Wildcat Exploration Ltd.: IP Survey Expands Jeep Gold PGE Project: Results Lead to Property Expansion and Drilling

WINNIPEG, MANITOBA--(Marketwire - March 20, 2008) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) ("Wildcat" or the "Company") is pleased to announce results of an induced polarization ("IP") survey completed on its Jeep Project, located 15 kilometres east of Bissett, Manitoba. On the Project, which covers 4016 hectares in 26 claims that are 100% owned by Wildcat, the survey identified prominent anomalies that present strong targets for gold and copper-nickel-platinum group elements ("Cu-Ni-PGE"). Based on the strength of the survey results, Wildcat plans to commence drilling before the end of March. In addition, the Company has negotiated a letter of intent to acquire a 25% interest in claims adjacent to the south boundary of the Project.

The Company and its geophysical consultants interpret that the location and extent of the IP anomalies are controlled by two previously unrecognized shear zone trends that cross-cut the 110 degrees striking shear zones that dominate this area. The intersections of these shear zones are excellent drilling targets for sulphides in the gabbroic host rock which may contain gold and Cu-Ni-PGE as demonstrated in the Company's 2007 drilling (see news releases April 3, 2007 and July 12, 2007). Analysis and modeling of the geophysical results indicate the existence of a number of near surface targets and additional targets at depth.

Projection of the survey results, together with a recently completed airborne Dighem and mag survey over the Company's property indicates a potential for additional intersecting shear zones on certain properties immediately south of the Company's claims. As a result Wildcat and Harvest Gold Inc. signed a letter of intent allowing Wildcat to earn an interest in these properties. Under the terms of the letter the Company may earn up to one half of the interest held by Harvest Gold in the Morore and Gudroc claims which cover 405 hectares adjacent to the Company's current Jeep claims. The subject claims are part of a larger claim group in which Harvest Gold is earning a 50% interest from a private individual. Wildcat will earn its interest in the subject claims by completing linecutting and an IP survey at its cost and by funding 50% of the first $250,000 of drilling on the optioned claims.

The Company commenced its earn-in on the additional claims by completing the required linecutting in preparation for IP surveying of the extended target area. Any additional targets identified will be considered for inclusion in the present drill program.

Drilling of the newly identified targets on the Company's 100% controlled Jeep claims will consist of up to 1,500 metres and is planned to begin before the end of March, 2008.

A map showing the IP results may be viewed in the Company's PDAC presentation on the Wildcat website, www.wildcat.ca.

Wildcat's 2008 exploration program is being managed, and all technical information in this release has been reviewed, by Peter Theyer, P.Geo. a Qualified Person as defined by NI 43-101.

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 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 copper-nickel-PGE properties in the Reed Lake area of Manitoba. As the Company builds its property portfolio, Wildcat welcomes proposals from owners of advanced Canadian exploration properties.

Please visit our website at www.wildcat.ca or contact us directly 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.
John L. Knowles
President CEO
Suite 203, 1780 Wellington Avenue
Winnipeg, Manitoba, R3H 1B3
Phone: (204) 944-8916
Fax: (204) 944-8918

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.

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