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.