WINNIPEG, MANITOBA--(Marketwire - July 24, 2009) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) has commenced a second phase of surface exploration on its Jeep property, a gold project 13 kilometres east of the town of Bissett, Manitoba.

Work conducted during the first phase of the summer 2009 program resulted in the discovery of three additional high grade gold occurrences in proximity to the historic Jeep mine (see News Release July 8, 2009). The Company's geologists are supervising mechanized and hydraulic stripping of overburden. Sampling of the associated mineralized structures is ongoing and assay results will be released as they become available.

The Company is in the permitting process for the planned 2009 surface exploration programs on its Reed Lake, MB and Foster River, SK base metal projects.

Subject to regulatory approval, Wildcat has granted incentive stock options to purchase up to 2,675,000 common shares of the Company to certain directors, officers, employees and consultants of the Company under its stock option plan. The options are exercisable for a five year period at an exercise price of $0.10 per share, with one half of the options vesting immediately and one half vesting on the first anniversary of the grant date.