Wildcat Discovers Additional Showings Containing High Grade Gold and Visible Gold on Jeep Project, Bissett MB

Winnipeg, Manitoba; September 23, 2009 - Wildcat Exploration Ltd. (WEL: TSX-V) is pleased to announce that results from ongoing channel sampling conducted on the Company’s 100% owned Jeep property, located 13 km east of Bissett, Manitoba in the Rice Lake greenstone belt, returned high grade gold, associated with visible gold and elevated silver concentrations on the recently discovered Showing Number 1 and newly discovered Showing Number 4. These gold and silver-bearing showings are in addition to the recently announced Showing Number 2 (see Press Release September 16, 2009).

Two geologically dissimilar northwest-striking gold and silver bearing quartz veins separated by approximately 76 m have been recognized to date. The southeastern quartz vein striking approximately 1100 azimuth is hosted by a shear zone cutting through massive quartzphyric leucogabbro and gabbro. The quartz vein, ranging from approximately 5 to 10 cm thickness, is exposed over a distance of approximately 12 m on strike and is open in both directions. A total of ten channel samples were collected from this vein, returning gold assays ranging from 0.16 to 57.96 g/t and silver assays ranging from 0.6 to 4.3 g/t (see table). Two previously collected grab samples returned 35.39 g/t and 1.47 g/t gold (see Press Release July 8, 2009). Further outcrop stripping and sampling is being undertaken along strike. Additional sampling results will be
announced as they become available.

The northernmost quartz vein, approximately 25 m long and hosted by massive quartz feldspar porphyry, yielded channel samples ranging from 41 cm to 184 cm length with gold concentrations ranging from nil to 1.91 g/t and silver concentrations ranging from 0.4 to 1.1 g/t (see table).

Showing Number 4 consists of a decimetre-thick quartz vein hosted by a shear zone located approximately 50 m northwest of Showing Number 1. The quartz is mineralized with up to 10 % disseminated arsenopyrite. Two grab samples from this showing returned 35.05 g/t and 3.53 g/t gold. Wildcat’s investigations of this showing are currently at a preliminary stage and results of a stripping and sampling campaign will be published as soon as they become available.

Wildcat’s exploration efforts in the Jeep project area, uncovering shear hosted gold-bearing quartz veins, are currently guided by scientific methods including a 3D capable collation of historical and current geological, geochemical and drilling data supplemented by LIDAR a sophisticated, laser based, helicopter borne sounding method, capable of detecting minute topographic details such as the occurrence of historical pits and trenches.

Wildcat’s program is continuing with prospecting stripping and sampling work. The Company plans to conduct a geophysical survey capable of detecting narrow, elongated, poorly conductive targets of the Jeep area.

Final drill planning and targeting will follow the completion of the current surface program and will incorporate results obtained from the planned geophysical survey.

“Our application of modern exploration methods on this historic gold producing area continues to generate positive results.” states John Knowles, President and CEO, “With these results we will extend our work program, as long as weather permits.”

Showing # 1: Detailed Surface Sampling Assay Results

Channel Sample # Length (m) Gold (g/t) Gold (oz/t) Silver (g/t)
JP17256 0.38 0 0.00 0.8
JP17259 0.7 0 0.00 0.6
JP17264 0.58 1.53 0.04 0.7
JP17265 0.41 0.05 0.00 0.4
JP17266 1.29 2.73 0.08 0.6
JP17267 0.55 0 0.00 0.3
JP17268 0.92 0 0.00 0.5
JP17269 0.48 0 0.00 0.6
JP17273 1 0 0.00 1.1
JP17276 0.32 1.67 0.05 1
JP17277 0.32 1.91 0.06 0.9
JP17278 0.3 0.16 0.00 0.8
JP17279 0.25 33.23 0.97 2.4
JP17280 0.27 12.45 0.36 1.9
JP17281 0.25 13 0.38 1.7
JP17282 0.25 10.29 0.30 3.9
JP17283 0.35 10.46 0.31 1.3
JP17284 0.3 57.96 1.69 4.3
JP17285 0.25 3.98 0.12 0.8

Grab Sample # Gold (g/t) Gold (oz/t) Silver (g/t)
JP17257 0.26 0.01 0.6
JP17258 0.15 0.00 0.2
JP17260 0 0.00 0.9
JP17261 1.85 0.05 1
JP17262 0.075 0.00 0.2
JP17263 0.015 0.00 0.2
JP17270 15.98 0.47 0.4
JP17271 0 0.00 1
JP17272 0 0.00 1.2
JP17274 0 0.00 0.9
JP17275 0 0.00 1
JP17286 0.12 0.00 0.8

All samples were submitted to TSL Laboratories Inc. in Saskatoon, Saskatchewan, an ISO 17025 accredited assay lab, which uses standard industry practices for sample preparation and analysis. Wildcat's exploration program is managed by Peter Theyer, P.Geo, a Qualified Person as defined by NI 43-101, who has reviewed all technical information in this release.