Breaking News

WINNIPEG, MANITOBA--(Marketwire - Dec. 21, 2009) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to announce that, subject to regulatory approval, it has completed its previously announced private placement of Units. Pursuant to the private placement, gross proceeds of $675,000 were raised and 3,000,000 Units have been issued on closing. Each Unit, issued at a price of $0.225, consists of one common share and one-half of one warrant, with a whole warrant entitling the holder to acquire an additional common share of the Company at a price of $0.33 per share during the 12 month period following closing.

The proceeds of the private placement will be used for exploration on the Company's projects including its gold projects in the Rice Lake greenstone belt, near Bissett, Manitoba, the Reed Lake base metal and platinum group elements project in the Flin Flon-Snow Lake greenstone belt of Manitoba, and its Foster River zinc-lead-silver project in Saskatchewan.

In connection with the financing, the Company has paid cash finders' fees of $25,875 and has issued 115,001 finders' warrants, each warrant being exercisable on terms identical to those of the warrants contained in the Units. All securities distributed pursuant to the private placement are subject to a hold period until April 18, 2010.

Wildcat's CEO, John Knowles, states, "We are gratified with the individual and institutional investor interest in Wildcat's recent financings. In the near term, we look forward to building on the results achieved to date on our property holdings in the Rice Lake greenstone belt, in particular the Company's Jeep project near Bissett, MB, as well as our Reed project in the Flin Flon Snow Lake greenstone belt, where recent exploration results on neighbouring properties continue to emphasize the prolific nature of one of the world's most productive VMS mining districts."