Winnipeg, Manitoba; November 18, 2008

Wildcat Exploration Ltd. (WEL: TSX-V) ("Wildcat" or the "Company") is pleased to announce that a ground geophysical survey, conducted on its Reed Lake property in the Flin Flon Snow Lake greenstone belt, has identified a large number of strong anomalies potentially indicative of sulphide-bearing layers. The property, consisting of 32 contiguous claims totaling 6,156 hectares, is located on the west side of Reed Lake, approximately 1.4 km north of PTH 39 which connects the city of Flin Flon with the town of Snow Lake. The southern boundary of the property is located approximately 4 km north of the recent discovery by VMS Ventures Ltd. (September 23, 2008: 61.96 m of 5.98% Cu).

Wildcat engaged Matrix GeoTechnologies Ltd. to perform an induced polarization (IP) survey on the Reed Lake "transect". The transect is a survey line, cut and picketed over a 4.2 km length, that crosscuts the Reed Lake South Complex, a layered mafic-ultramafic intrusion prospective for platinum and palladium group elements. The purpose of this survey was to identify sulphide-bearing layers potentially containing nickel, copper and platinum group elements. To date the survey has been completed over 1.9 km of the transect. In the course of this investigation, thirteen IP anomalies were identified and classified by the contractor as "strong" to "extremely strong".

According to Matrix's report, the anomalies could have been generated by lithological contacts, faults/fractures, and alteration patterns; however, the presence of increased chargeability indicates that potentially they are generated by sulphide mineralization.

Encouraged by these results, Wildcat plans to validate these anomalies. The terrain features outcrops alternating with shallow swamps, and the follow-up investigation planned for the coming winter season will consist of a biogeochemical survey over the transect, using black spruce as the sampling media. This survey will be complemented with prospecting and rock sampling in the summer of 2009.

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My Comments: The drilling activity and discoveries by VMS have continued on steadily since the Septemebr 23rd report mentioned above. There have been several reports with lower grades of copper since (Oct 1 - 3.59%, Oct 21 - 3.27%, Oct 29 - 1.08%, Nov 20 - 4.045), but then on December 10th another higher grade report: 6.12% CU. This area seems to be of very high interest to VMS as they decided this fall to prurchase the claims from W. Bruce Dunlop Ltd. rather than just working on an option basis.

Vancouver, B.C., December 8, 2008. VMS Ventures Inc. (TSX-V: VMS) (the “Company”) is pleased to announce that it has signed a Property Purchase Agreement (the “Agreement”) outlining terms and conditions to acquire a 100% interest in the Dunlop Reed Lake claims from W. Bruce Dunlop Ltd. (the “Vendor”).

The Dunlop Reed Lake claims have been subject to an Option Agreement between the Company and the Vendor dated August 1, 2006 and amended November 1, 2007.