Sol Prizant

Yes Forex Limited

March 26, 2007 11:59 ET

Wildcat Shareholders Recommend Removal and Change of Board of Directors

TORONTO, ONTARIO--(CCNMatthews - March 26, 2007) - Sol Prizant and Yes Forex Limited (the "Concerned Wildcat Shareholders") announced today that they have filed on SEDAR and will be mailing to shareholders an information circular (the "Shareholders Circular") in which the Concerned Wildcat Shareholders recommend to the shareholders of Wildcat Exploration Ltd. ("Wildcat") that they elect the nominees of the Concerned Wildcat Shareholders to the board of directors of the company at the Special Meeting of Shareholders of Wildcat scheduled for April 12, 2007 in Winnipeg. The Shareholders Circular can be viewed in its entirety at

Mr. Prizant was the President and CEO of Wildcat until January 2007 when he was terminated by the current Board of Directors. Under the leadership of Mr. Prizant, Wildcat shareholders saw the value of their shares go from $0.30 to $0.84 in just 9 months. During this period, Mr. Prizant personally invested approximately $1,000,000 in Wildcat, loaned Wildcat in excess of $500,000, raised millions of additional dollars in financing, streamlined the company's operations, cut costs by hundreds of thousands of dollars, acquired necessary technology and hired recognized and experienced geologists to work with the company.

It was only when Mr. Prizant began to question the current Board and requested that the current Board call a meeting of shareholders to replace the current Board that they took steps to terminate him and attempt to eject him from the Board of Directors. Since Mr. Prizant's termination, the trading price of Wildcat's shares has fallen dramatically and it is again languishing at just above $0.30 per share. The Shareholders Circular provides details of the failings of the current Board and the reasons why a change to the current Board is necessary in order to maximize shareholder value.

Ed Sawitzky, Wildcat's former President (prior to Mr. Prizant) and COO resigned from Wildcat because of the current Board. His experience with the current Board is similar to that of Mr. Prizant. Mr. Sawitzky states in his letter to Wildcat shareholders that is attached to the Shareholders Circular, "As President I was caught between certain directors, Robert Dzisiak, Denis Fillion and Joe Baylis who effectively did nothing in their capacities as Directors for Wildcat on the one side and Jerrold Siemens on the other who, without any experience in the mining business, intermeddled in my ability to run the company...". Mr. Sawitzky, who did not know Mr. Prizant prior to Mr. Prizant becoming President and CEO, endorses the new board proposed by the Concerned Wildcat Shareholders. He too believes that the growth of the company and reversal of the share value decline is contingent upon replacing the current Board.

The Shareholders Circular sets out a several page future plan for Wildcat based upon Mr. Prizant's experience and work completed while he was President and CEO. In their 78 page information circular dated March 12, 2007 (the "Current Board's Circular"), the current Board dedicates all of 9 lines to its plan for the future.

In the view of the Concerned Wildcat Shareholders, the Current Board's Circular is a baseless attempt to mislead shareholders about Mr. Prizant's integrity. While making no mention of Mr. Prizant's remarkable successes both in operations and financing, the Current Board's Circular is dedicated almost exclusively to making false allegations against Mr. Prizant. The current Board attempts to cloak their baseless allegations in legitimacy by attaching an interim report of PricewaterhouseCoopers (the "PWC Interim Report"). The PWC Interim Report concludes that "based on our preliminary investigation some or all of the expenditures may be questionable".

When asked about the PWC Interim Report, Mr. Prizant states "PWC never attempted to speak to me, or to Wildcat's CFO at the time, or to the bookkeeper. How PWC could have agreed to the release of their interim report without having asked any of their so called "questions" of the appropriate people is astonishing. More of Wildcat's money wasted by this current Board". The Shareholders Circular provides a full answer to each and every allegation made by the current Board. In the view of the Concerned Wildcat Shareholders, many of the allegations of the current Board are no more than red herrings crafted to deliberately deflect attention away from Mr. Prizant's successes while President and CEO and the fact that the current Board has no plan.

David Berman, the Chief Financial Officer of Wildcat during its rise in fortune under Mr. Prizant, in his letter to the shareholders attached to the Shareholders Circular comments on his view of the allegations made by the current Board against Mr. Prizant in the Current Board's Circular. Mr. Berman states "In conclusion, in my experience with Wildcat, I found Mr. Prizant to be a credible, honest and extremely hard working President and CEO, who accomplished several key corporate and financial objectives, in a very short time...He was diligent and committed to his responsibilities with integrity, and with the success of the Company always in mind. As a result, I wrote this letter because I felt that the recent Management Information Circular is unfair to Mr. Prizant and misleading to shareholders of Wildcat."

Mr. Prizant states, "ironically, it is because of my success in raising money for Wildcat, that the current Board has the financial arsenal available to try to entrench itself at shareholders' expense and launch this smear campaign against me. That money was earmarked for and should have been used in field operations as I had planned. I have every confidence that the shareholders of Wildcat will see through this Board's baseless claims."

The Shareholders Circular demonstrates that Mr. Prizant has done nothing but conduct himself in a manner which should engender trust and confidence. Although Mr. Prizant has invested $1 million in Wildcat he has never sold a single share. By contrast, members of the current Board, being Jerrold Siemens, Rob Dzisiak and Denis Fillion, have each engaged in improper and opportunistic trading in Wildcat's shares. Each of these three board members, with knowledge of material undisclosed information of the imminent closing of a flow through financing in November 2006, immediately prior to the completion of that financing sold $177,633.58 worth of Wildcat shares into a rising market and then insisted that they be allowed to effectively buy back those shares through the flow through financing, a tax deductible investment, at $0.35 per unit (each unit consisting of a share and a half-warrant). All of this activity is evidenced by copies of insider reports which are attached to the Shareholders Circular.

In their circular, the Concerned Wildcat Shareholders request that the shareholders of Wildcat recognize the need for immediate change and vote for the election of a new Board of Directors at the meeting on April 12. In addition to Mr. Prizant, the Concerned Wildcat Shareholders intend to nominate the following individuals for election to the Board:

Norman Brewster P.Geo. Mr. Brewster is a Professional Geologist with 35 years of experience in mineral exploration in several geological environments. Since 1998, Mr. Brewster has served as Vice-President and Executive Chairman of Iberian Minerals Corp., a TSX Venture listed mineral exploration company.

Mr. Brewster also serves as a director for numerous other public companies including Spider Resources Inc., Galantas Gold Corp. and International Millenium Mining Corporation.

Gary Cilevitz. Mr. Cilevitz is currently the Chief Financial Officer of Richview Resources Inc., a TSX listed mineral exploration company. Mr. Cilevitz is a Chartered Accountant with more than 12 years experience in Canadian and American public accounting. Prior to his appointment as CFO of Richview Resources Inc. he was a senior engagement manager with a chartered accounting firm specializing in providing Accounting and Audit services to Canadian and American publicly listed companies. His experience is focused on publicly listed development stage companies in all industries including natural resources.

William Potter. Mr. Potter is an investment banker with over 30 years of experience with specific interest in natural resources. Mr. Potter has a BA from Colgate University and an MBA from Harvard. Mr. Potter has held various senior positions with several bank and financial institutions including White, Weld & Co., Inc., Toronto Dominion Bank and Barclays Bank PLC. Mr. Potter is currently the Chairman of R. Meredith & Co., Inc. in New York City.

Mr. Potter serves as a director for numerous companies including National Foreign Trade Council Inc. (Executive committee/finance chairman), Aberdeen Asia Pacific Income Fund Inc., Aberdeen Australasia Fund Inc., Aberdeen First Commonwealth Fund Inc., Power Air Corporation, EC Power Inc., Voicenet Inc. and Alexandria Bancorp and a number of private companies including several engaged in mining and energy. Mr. Potter is also a member of the advisory board of the National Cancer Research Council in Washington D.C.

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