Poundmaker Property
Property Description
The Poundmaker property comprises 98 contiguous claims covering 15,574 hectares in the Saxton Lake area of the Rice Lake greenstone belt, west of Bissett, Manitoba in which Wildcat holds a 100% interest. In February 2008 the Company granted an option, subsequently amended in February, 2009, to Marum Resources Inc. to acquire a portion of the property comprised of 72 claims covering 12,176 hectares, approximately 10 km northwest of the San Gold’s Rice Lake Gold Mine. Wildcat retained the remaining 26 claims located in the southeast quadrant, known as the Mike Power Project area. Pursuant to its work obligations under the multi-year option agreement, on or before March 1, 2010, Marum will conduct $500,000 of exploration work on the optioned property and will pay up to $100,000 to Wildcat in cash or $150,000 in cash and shares.