Excerpts from the Annual Report of Wildcat Exploration:

During 2007 and into 2008 we were particularly active in the Rice Lake Greenstone Belt on our Jeep and Poundmaker properties. We added to our Jeep land position in 2007 to cover most of the Jeep Gabbro, bringing the 100% owned property to 4,016 hectares. The drilling programme that we completed on the Jeep property in April 2007 intersected anomalous gold and nickelcopper-platinum group elements in the area of the former Jeep gold mine. In the first quarter of
2008, based on encouraging results from an induced polarity (“IP”) survey on our property, we carried out a nine hole drill programme in the southern part of the property and we negotiated an option to acquire a 25% interest in 405 hectares adjacent to our southern boundary. The most recent phase of drilling, targeting intersecting shear zones identified in the IP survey, was completed in April 2008 and assays are pending.
In addition, we undertook a helicopter borne Mag and EM survey survey over the entire Jeep property. Analysis of the data from this survey combined with the IP data identified nineteen zones of special exploration interest. These zones are slated for ground inspection during the summer of 2008.
On the 3,398 hectare Mike Power project, located in the southeastern section of our Poundmaker property we commenced a six hole drill programme which carried into 2008. The drilling intersected the sulphide targets that were generated by an IP survey of the property, but assay results of the first three holes in the program have not indicated economic metal concentrations. The remaining assays are still pending at the time of writing.
In early 2008 we optioned the Poundmaker property excluding the Mike Power project, to Marum Resources Inc. Under the terms of the agreement, Marum will carry out up to $5 million of work on the property and will pay Wildcat up to $925,000 in cash and shares to earn 100% of the property. Wildcat will then have a 2% net smelter royalty. Alternatively, after Marum has spent 4 million on the property, Wildcat may elect to retain a 35% working interest by paying its share
of subsequent costs.

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Property Transactions
In the first quarter of 2007, on the basis of drill program results which confirmed that the Jeep Property, located in the Rice Lake greenstone belt of Manitoba, hosts both gold-bearing quartz vein mineralization and magmatogenic sulphides containing anomalous nickel-copper and platinum group Element (“PGE”) concentrations, the Jeep project area was expanded with the staking of an additional 835 hectares in four claims, which increased the project total area to 4,022 hectares on 26
contiguous claims.

In February 2008 the Company granted an option to Marum Resources Inc. on 72 contiguous claims in the Poundmaker property covering 12,176 hectares. Wildcat retained 26 claims covering 3,398 hectares which comprise the portion of the Poundmaker property known as the Mike Power area. During each year of this five year agreement, the Company will receive either $100,000 cash or, at Wildcat’s option, $50,000 cash and $100,000 of Marum shares at the market value at the time. In addition, during 2008 the Company will receive an additional $75,000 and 500,000 shares of Marum. Marum will carry out exploration work averaging $1 million per year and at the end of four years the Company may elect either to retain a 35% interest in the property by paying its share of costs from that point forward or to have Marum carry out a further $1 million of exploration work upon which the Company’s interest in the property will be transferred to Marum, subject to a 2% net smelter royalty in favour of Wildcat.

In March 2008, an induced polarity (“IP”) survey of the southern portion of the Company’s 100% wned Jeep property detected prominent anomalies tracking up to the southern boundary of the
property. These results, together with the gold and platinum group elements (“PGE”) values encountered during the 2007 drill program, indicate that mineralization may extend to the south east beyond the Company’s current boundary. As a result Wildcat negotiated a letter of intent with Harvest Gold Corp. to acquire a 25% interest in two mineral claims covering 405 hectares immediately south of the Jeep project. 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 line cutting and an IP survey at its cost and by funding 50% of the first $250,000 of drilling on the optioned claims.