Wildcat Exploration Ltd.

Wildcat Exploration Ltd.

March 22, 2011 14:07 ET

Wildcat Exploration Ltd. Regains Management Control of the Poundmaker Property in Rice Lake Gold Camp

WINNIPEG, MANITOBA--(Marketwire - March 22, 2011) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to announce that it has regained management control of its Poundmaker property, previously under option to StrikePoint Gold Inc. StrikePoint has confirmed that it has not fulfilled the conditions required to continue earning an interest in the property beyond March 1, 2011 and has notified Wildcat management of its intention to terminate the option agreement with Wildcat.

The property is comprised of 72 claims covering 12,176 ha in the Saxton Lake area of the Rice Lake greenstone belt, west of Bissett, Manitoba. Its eastern boundary is approximately 5 km west of the Rice Lake mine site operated by San Gold Corporation, and the property extends west for a distance of 23 kilometres, straddling the Wanipigow fault, the dominant geological feature of the Rice Lake Gold Belt.

The property hosts several gold occurrences and historical workings, some of which have been sampled and drill tested by Wildcat prior to the granting of the option to StrikePoint. The property is interpreted to be underlain by favourable rocks and structures that are along strike from known gold mineralization on the San Gold property.

Both companies are working cooperatively to transfer technical data and assessment work documentation arising from the StrikePoint exploration efforts. As it is received, Wildcat's geologists will incorporate the data into the next phase of exploration on the property.

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 gold projects in the Rice Lake greenstone belt in Manitoba, (2) the McVicargold property in the Uchi Subprovince of Ontario, (3) the Reed base metal and PGE project in the Flin Flon-Snow Lake greenstone belt in Manitoba, (4) the Burntwood nickel project in the Thompson nickel belt in Manitoba and (5) the Foster zinc-lead-silver project in Saskatchewan. The Company seeks to continuously upgrade its property portfolio through exploration and accretive transactions.

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 forwardlooking 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 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.

Contact Information

  • CHF Investor Relations
    Chris Haldane
    Account Manager
    (416) 868-1079 ext. 237
    (416) 868-6198 (FAX)
    CHF Investor Relations
    Cathy Hume
    (416) 868-1079 ext. 231
    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