Iskwasum Property

Property Description
The Iskwasum property comprises 13 claims covering 2,655 hectares located approximately 9 km east of Reed Lake. The property is underlain by an intensely deformed mafic to ultramafic complex with a potential to contain economically significant Ni Cu sulphide concentrations. Historical exploration undertaken by companies such as Granges and Hudson Bay included a series of airborne magnetic and electromagnetic surveys. Interest became focused on the northwest arm of the lake where drilling intersected sulphide-bearing serpentinized peridotite assaying 1.24 % Ni over a core length of slightly less than 1 metre (the “Law zone”).
Geological prospecting in 2007 showed that the majority of the potentially economically interesting mafic ultramafic rocks are covered by Iskwasum Lake and thus evaluation of the mineral potential of this property had to largely rely on an evaluation of geophysical and drilling data. Previous geophysical surveys may have penetrated to no more than 200 to 300 m depth and drilling depth never exceeded 100 m depth. Wildcat believes that the Ni Cu potential of the Iskwasum property is largely unexplored at depths exceeding approximately 100 m.

Activities Contemplated for the Future
At the time of this MD&A, Wildcat is investigating the vicinity of the mineralized Law zone with a deep penetrating Surface Pulse EM geophysical survey. This type of survey is capable of identifying large, contiguous interconnected sulphide accumulations at depths of approximately 500 metres or more depending on the underlying rock characteristics. Further work on the Iskwasum project would be contingent on the results of this survey that should be completed in March 2009.