Wildcat Exploration Ltd.

Wildcat Exploration Ltd.

June 14, 2010 10:42 ET

Wildcat Exploration Ltd. Mobilizes Exploration Crews Onto Reed (Cu, Zn, Ni) Project -Expands Project Area, Flin Flon-Snow Lake District

WINNIPEG, MANITOBA--(Marketwire - June 14, 2010) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to announce that the next phase of exploration on the Company's 100% owned Reed Project has begun with the mobilization of a six person exploration team onto the property.

The Reed Project is situated 35 kilometres southwest of the town of Snow Lake, Manitoba. The Snow Lake mining camp has recently witnessed renewed interest with the discovery of the Lalor deposit (Zn, Cu, Au) by HudBay Minerals Inc. In the vicinity of the Reed Project, the area has been the focus of other recent exploration successes at the "Discovery Zone" (Cu, Zn) on the VMS Ventures Inc./HudBay property, the "Rail" deposit (Cu, Zn) optioned by Rockcliff Resources Inc. from HudBay, and the Wine property (Ni, Cu) belonging to Cream Minerals Ltd.

The Reed Project is underlain by volcanic and intrusive rocks belonging to the Flin Flon – Snow Lake greenstone belt, which host the recent discoveries previously mentioned. Geophysical data suggest that these rocks trend onto the Reed Project along strike from the Rail and the Wine mineralization, both types of which have distinctive conductive signatures. This positions the Reed Project to host either or both deposit types.

Wildcat's 2010 program includes mapping, sampling and surface geophysical surveys with a focus on conductors generated from previous airborne surveys. The current program will involve surface investigation to validate and prioritize these conductors for drill testing in the 2010/11 winter drill season.

The Company recently staked additional claims on the northeast flank of the property, increasing the total area to 8,037 hectares in 43 contiguous claims. The current Reed program includes geological mapping and sampling on the new claims. A map of the project including the new claims will be posted at www.wildcat.ca on the Projects/Reed page.

Tom Lewis, Wildcat's V.P. Exploration, explains, "We are looking forward to investigating the surface expression of conductors on the Reed Project and I am optimistic that we will see favourable geological features essential to the deposition of base metals in preparation for a winter drill program."

Wildcat's exploration program is being managed by Tom Lewis, B.Sc. P.Eng., a Qualified Person as defined by NI 43-101. All technical information in this release has been reviewed by Tom Lewis, B.Sc. P.Eng., as the Qualified Person. Abbreviations used: Copper – Cu; Zinc – Zn; Nickel – Ni; Gold – Au.

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 Lake base metal and PGE property in the Flin Flon greenstone belt in Manitoba and (3) the Foster River 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).

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.

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