Update on Mrima Hill Acquisition-Initial Closing

Feb. 18, 2011 (Marketwire) --

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/18/11 --

"NOT FOR DISTRIBUTION TO U.S NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES"

Pacific Wildcat Resources Corp. (TSX VENTURE:PAW) ("PAW" or the "Company") is pleased to announce further to the Company's news release dated July 23, 2010, "PAW Enters into Conditional Purchase Agreement with the Right to Acquire the Majority of a Large Scale Niobium/Rare Earth Metal Project", that the Company's due diligence process is now substantially complete.

The Company is pleased to report it has received the final UK government regulatory approval but needs some additional time to allow finalisation of the legal opinions. This is expected to be complete next week and the Company now expects the Initial Closing to take place on or around the 25th February 2011.

The residual tranche of the financing with Macquarie Private Wealth Inc, as originally announced in the press release titled "Letter of Engagement signed with Macquarie Private Wealth" dated July 23, 2010 remains in place and is fully subscribed and is intended to close concurrent with the Initial Closing of the Acquisition.

ON BEHALF OF THE BOARD OF DIRECTORS OF PACIFIC WILDCAT RESOURCES CORP.

Darren Townsend, President

Investors are cautioned that trading in the securities of Pacific Wildcat Inc. should be considered highly speculative.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Pacific Wildcat Resources Corp.
Darren Townsend
President
1-888-860-2666
www.pacificwildcat.com


Source: Marketwire (February 18, 2011 - 10:12 AM EST)

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