"Exciting new alteration" - doesn't convey much but when you put together with assays are pending - may mean something.

2012-05-29 08:43 ET - News Release

Mr. John Knowles of Wildcat reports

WILDCAT REPORTS DRILLING ON JEEP GOLD PROPERTY, RICE LAKE, MB

Wildcat Exploration Ltd. optionee San Gold Corp. has commenced drilling targets in the vicinity of the former Jeep gold mine on Wildcat's Jeep property. The property is located 14 kilometres east of Bissett, Man., within the Rice Lake greenstone belt. To date, San Gold has drilled a total of 5,691 feet (1,734.6 metres) in three holes. Drilling is currently in progress.

The program is designed to test the Jeep quartz vein system deeper and downplunge of previous drill programs. Drill holes JP-12-001 and JP-12-003 intersected a wide, intense alteration zone with felsic to intermediate dikes and sills. Alteration is often the product of hydrothermal activity and the emplacement of gold-bearing quartz veins. San Gold geologists are in the process of modelling the alteration in order to help locate the source and possibly improved sites for gold deposition. Drilling has also intersected quartz veins thought to be the projected depth extension of the main Jeep vein system. Assays are pending.