WINNIPEG, MANITOBA--(Marketwire - Aug. 25, 2008) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) ("Wildcat" or the "Company") has mobilized to its Reed Lake, Manitoba property in the Flin Flon-Snow Lake greenstone belt. Consisting of 32 contiguous claims totaling 6,156 hectares, the property is situated along the west side of Reed Lake, and is within 1,400 metres of PTH 39, the main provincial road connecting the town of Flin Flon and Snow Lake in Manitoba, and is within 4,200 metres of the recent discovery by VMS Ventures Ltd. (43.05 m of 4.38% Copper; Oct.04, 2007).

The Company is targeting three separate geological environments on the property. The South Zone is identified as a layered mafic ultramafic intrusive complex, prospective for platinum and palladium group elements. The Central Zone is prospective for copper, based on observations of malachite staining on surface. The North Zone is prospective for nickel, copper and zinc in a suite of volcanic massive sulphide rocks typical of the host rocks of many of the deposits in the belt.

Reed Lake North Zone - Field Program

Wildcat has mobilized a field crew to conduct geological evaluation and mapping of targets identified in the recent airborne DIGHEM electromagnetic and magnetic survey (see News Release June 02, 2008). The ground truthing work includes inspection and sampling of available outcrop exposure where anomalies were detected by the airborne survey.

Reed Lake South Zone - Induced Polarization (IP) Survey - Channel Sampling

Based on encouraging results from an initial IP test survey earlier this year (see News Release May 21, 2008) the Company is now conducting an IP survey of the entire transect cut across the Reed Lake South Zone. The transect spans the property and measures 4.2 kilometers in length. Results similar to the high chargeability responses received during the initial 450 metres of the survey indicating potential sulphide layers are being repeated as the survey moves westerly across the grid. Following the field work on the North Zone the field crew will relocate to the transect grid in the Reed Lake South Zone, and begin a program of channel sampling of the targets identified by the IP survey.

Wildcat's geophysical consultant has recommended a parallel transect be cut and surveyed in similar manner to establish the continuity of the layered structures. A decision on this recommendation will follow analysis of the results obtained in the current phase of the Reed Lake exploration program.

Wildcat's exploration program is managed by Peter Theyer, Ph.D., P.Geo., a Qualified Person as defined by NI 43-101, who has reviewed all technical information in this release.