Sol Prizant

Yes Forex Ltd.

April 18, 2007 14:31 ET

Wildcat Loses its Appeal to Overturn Court Appointment of Independent Chairman and Adjournment of Special Meeting to April 26, 2007

TORONTO, ONTARIO--(CCNMatthews - April 18, 2007) - Sol Prizant and Yes Forex Ltd. (the "Concerned Wildcat Shareholders") announce today that an application by the current Board of Directors of Wildcat Exploration Ltd. to, amongst other things, set aside the Order pronounced by the Manitoba Court of Queen's Bench on April 11, 2007 to adjourn the Special Meeting of the Shareholders of Wildcat and to appoint an independent Chairman for the meeting has been denied by the Manitoba Court of the Queen's Bench.

On Friday, April 13, the current Board of Directors moved before the Honourable Madam Justice McKelvey of the Manitoba Court of the Queen's Bench, to ask her to:

- set aside her decision adjourning the Special Meeting of Shareholders of Wildcat to April 26, 2007 by asking the Court to cut off the voting at the Special Meeting as of April 12, 2007; and

- set aside her decision to appoint an individual independent of the Board of Directors of Wildcat and their counsel to act as Chairman of the Special Meeting.

On Tuesday, April 15, after a full hearing, Justice McKelvey dismissed the current Board of Directors' motion.

Madam Justice McKelvey reaffirmed her Order of April 12, 2007 in which she ordered:

"The Special Meeting of Shareholders of the respondent Wildcat Exploration Ltd. (the "Corporation") to be held at 10:00 am on Thursday, April 12, 2007 (the "Special Meeting") at the Victoria Inn, 1808 Wellington Avenue, Winnipeg, Manitoba ("Victoria Inn") be adjourned to Thursday, April 26, 2007 at 10:00 am at an appropriate location to be determined by the Corporation."

"Jerrold Siemens ("Siemens"), Robert Dzisiak, Denis Fillion, Joseph Baylis (collectively called the "Board") and/or their counsel or counsel of the Corporation or such other person or entity that may be affiliated with the Board be restrained and enjoined from acting as chairperson of the Special Meeting...".

Her Ladyship required the parties to agree to an independent Chairman to be appointed failing which Her Ladyship would appoint such an independent Chairman.

Justice McKelvey's April 11 Order and dismissal of the Board's motion to set aside the April 11 Order, allows all registered and non-registered shareholders adequate time to vote their shares in Wildcat and to ensure that the shareholder meeting is conducted in a fair and unbiased manner for the benefit of all stakeholders in Wildcat by an independent Chairman.

The current Board moved before the court to cut off shareholder voting as of April 10, or alternatively April 12, 2007 because of their concern that by April 26, 2007, shareholders would vote in support of the nominees put forth by the Concerned Wildcat Shareholders.

The shareholders are asked to carefully consider the recommendation of Institutional Shareholder Services (ISS) in their report issued March 29, 2007. ISS is Canada's leading independent authority on proxy voting and corporate governance. ISS recommends that the current board of directors of Wildcat be removed and replaced with the nominees of the Concerned Wildcat Shareholders.

The shareholders of Wildcat are asked to review the Concerned Wildcat Shareholders information circular dated March 23, 2007 sent to shareholders and available at and Shareholders are asked to vote the WHITE proxy previously sent to them in support of the Concerned Wildcat Shareholders and return it by fax to (416) 364-1827 and then by mail to Olympia Transfer Services Inc., Suite 920, 120 Adelaide Street West, Toronto, Ontario M5H 1T1. TIME IS OF THE ESSENCE as proxies must be received by Wednesday, April 25, 2007 at 5:00 p.m. in order to ensure that they are registered in time for their votes to be counted at the meeting. Shareholders are asked not to sign or return the Blue form of proxy sent to them by the current board. If shareholders have already voted the blue form and wish to change their vote, they may revoke their vote by voting the WHITE proxy.

If shareholders have lost or never received their WHITE proxy or if shareholders have any questions or require any assistance in voting their WHITE proxy, they are asked to call Shareholder Response Group at 1-866-925-9121.

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