VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/11/12 -- Pacific Wildcat Resources Corp. (TSX VENTURE:PAW) ("PAW" or the "Company") is pleased to report Niobium and Rare Earth assay results from the first 1,462 meters (14 holes) of reverse circulation ("RC") drilling from a recently completed 4,941 metres program at Mrima Hill Niobium and Rare Earth project, in Kenya.

Assay results delineating, thick, high grade Niobium and Total Rare Earth Oxide ("TREO") intercepts have been received from RC drilling in the south west of Mrima Hill.

PAW has a conditional purchase agreement to acquire an indirect 70% interest in Cortec Mining Kenya, owner of the Mrima Hill project.

Highlights

--  Wide zones of TREO intercepts from surface and at depth. Intercepts
    include 23m at 14.80% TREO from 77m (open at depth), 65m at 4.02% TREO
    from surface and 91m at 4.78% TREO from 21m 
--  Niobium mineralisation intersected by this drilling has yielded 62m at
    1.07% Nb2O5 from surface (including 10m at 2.08% Nb2O5 from 25m), 93m at
    0.88% Nb2O5 from 10m (including 38m at 1.28% Nb2O5from 21m), 23m at
    1.44% Nb2O5 from 77m, 12m at 1.30% Nb2O5 from 22m, 14m at 1.35% Nb2O5
    from 15m, 11m at 1.65% Nb2O5 from 46m, and 12m at 1.66% Nb2O5 from 97m. 
--  New intrusive system identified on the south western ridge on Mrima Hill
    (named "Camp Hill").

Drill Program and Results

A total of 51 RC holes for 4,941m from the 2012 drilling program have now been completed, targeting TREO and Niobium mineralisation on the southern half of Mrima Hill. This announcement comprises the results from the first 14 holes of this program (holes PAWRC032 to PAWRC045) situated in the southwestern corner of the project forming a ridge known as Camp Hill (Figure 1). Samples in this announcement represent 1m downhole intervals, comprising the first 1,462 meters of the program. Camp Hill from element associations appears to be a separate more Potassium and Titanium rich intrusion that has lower levels of Thorium than the other carbonatites to the north. This separate intrusion is also characterized by minor mafic and agglomerate lithologies on its periphery.

Based on previous TREO drilling results, the TREO Exploration Target for Mrima Hill is between 30 million to 40 million tonnes at grades averaging 4.0% to 5.0% TREO (see news release NR2012-06, dated 13th of March 2012). The potential quantities and grades of the aforementioned TREO estimates are conceptual in nature, and there is insufficient exploration to date to define a current mineral resource and therefore it is uncertain if further exploration will result in the target being delineated as a current mineral resource. A "qualified person" as defined under National Instrument 43-101 has not completed sufficient work to classify the above mentioned estimate as a current mineral resource. At the time of this release 50% of the planned 10,000m program has been drilled, with holes intersecting prospective soils, laterite, saprolitic clays and saprock. Of the 4,941m meters completed, 3,479 meters are yet to be assayed. At this time drilling has been temporally halted pending a review of all available geological and drill data to ensure optimization of the residual portion of the program.

Holes so far assayed are located on the edge of the high grade TREO area identified by the Kenyan Mines Department in the 1950's (refer to contours on Figure 1), and some 800m from the center of the high grade Niobium Resource area to the north that was originally outlined by test pitting by Anglo American in the 1950's.

This initial set of assay results are from fourteen holes collared in pre-existing tracks and angled at 60 degrees. These holes were drilled between 81 and 120m depth, averaging 104m depth, with their objective to provide a maiden Inferred TREO Resource to 100m vertical depth. Seven of these holes finished in prospective clays circa 105m depth, the remaining RC holes terminated in saprock, fresh carbonatite or agglomerate.

RC drilling productivity in 2012 has also improved with an average 79m being achieved per shift.

Significant Niobium and TREO mineralization was encountered in 13 of the 14 RC holes being reported. RC drill hole PAWRC041 is interpreted to be on the western edge to Niobium and TREO mineralisation.

Figure 1 shows the location of the 2012 reverse circulation drilling recently completed (4,941m) with the location of the 14 RC holes being reported (1,462m) being highlighted. It also shows the location of the remainder of the planned program to be drilled for the maiden TREO resource. Figure 2 depicts the location and significant results for Niobium for the 1,462m being reported plus the location of the two sections through the Niobium mineralisation (Figure 3 and Figure 4). Figure 5 depicts the location and significant results for the TREO mineralization for the 1,462m reports plus the location of the two sections through TREO mineralisation (Figure 6 and Figure 7).

To view the figures associated with this press release, please click on the following link: http://media3.marketwire.com/docs/paw511maps.pdf.

Significant Niobium Results

DRILL HOLE  INTERSECTION                                                
                                                                        
PAWRC032:   39m at 0.46% Nb2O5 from surface and;                        
            40m at 0.84% Nb2O5 from 60m (including 7m at 1.29% Nb2O5    
            from 88m)                                                   
                                                                        
PAWRC033:   63m at 0.63% Nb2O5 from surface and;                        
            4m at 1.37% Nb2O5 from 68m                                  
                                                                        
PAWRC034:   30m at 0.53% Nb2O5 from surface and;                        
            17m at 0.84% Nb2O5 from 51m and:                            
            23m at 1.44% Nb2O5 from 77m                                 
                                                                        
PAWRC035:   11m at 0.50% Nb2O5 from surface and;                        
            26m at 0.52% Nb2O5 from 22m                                 
                                                                        
PAWRC036:   12m at 0.53% Nb2O5 from surface and;                        
            12m at 1.30% Nb2O5 from 22m and:                            
            83m at 0.73% Nb2O5 from 37m (including 5m at 1.58% Nb2O5    
            from 94m)                                                   
                                                                        
PAWRC037:   17m at 0.62% Nb2O5 from surface.                            
                                                                        
PAWRC038:   21m at 0.59% Nb2O5 from surface.                            
                                                                        
PAWRC039:   16m at 0.68% Nb2O5 from surface.                            
                                                                        
PAWRC040:   14m at 0.70% Nb2O5 from surface and;                        
            50m at 0.81% Nb2O5 from 61m (including 12m at 1.66% Nb2O5   
            from 97m)                                                   
                                                                        
PAWRC042:   22m at 0.68% Nb2O5 from surface and;                        
            5m at 1.54% Nb2O5 from 52m                                  
                                                                        
PAWRC043:   62m at 1.07% Nb2O5 from surface (including 10m at 2.08%     
            Nb2O5 from 25m and 8m at 1.88% Nb2O5 from 43m) and;         
            33m at 0.71% Nb2O5 from 76m (including 3m at 1.73% Nb2O5    
            from 90m)                                                   
                                                                        
PAWRC044:   4m at 0.78% Nb2O5 from surface and;                         
            93m at 0.88% Nb2O5 from 10m (including 38m at 1.28% Nb2O5   
            from 21m)                                                   
                                                                        
PAWRC045:   11m at 0.99% Nb2O5 from surface and;                        
            14m at 1.35% Nb2O5 from 15m and;                            
            11m at 1.65% Nb2O5 from 46m and;                            
            7m at 1.53% Nb2O5 from 70m                                  

These reported Niobium results are from the Ultratrace assay labs in Perth using XRF assay techniques. All samples collected were from the cyclone on the RC drill rig with samples fed through a sample splitter and a sample size of 1-3 kilograms submitted to the Nagrom assay labs in Perth with sample preparation being undertaken by the Nagrom assay laboratory. Prepared samples were dispatched to both the Ultratrace (Nb2O5 analysis by XRF) and Genalysis (for rare earth and matrix analysis by ICP-MS) assay labs in Perth, Western Australia. Please refer to Table 1 for a summary of Niobium results.

Significant Rare Earth Results

DRILL HOLE  INTERSECTION                                                
                                                                        
PAWRC032:   33m at 2.12% TREO ("Total Rare Earth Oxides" including      
            Yttrium) from 6m and;                                       
            40m at 2.74% TREO from 60m                                  
                                                                        
PAWRC033:   45m at 3.31% TREO from surface (including 11m at 5.77% TREO 
            from 29m) and;                                              
            13m at 3.08% TREO from 50m and;                             
            3m at 4.02% TREO from 82m                                   
                                                                        
PAWRC034:   31m at 2.43% TREO from surface and;                         
            17m at 2.83% TREO from 51m and;                             
            23m at 14.80% TREO from 77m                                 
                                                                        
PAWRC035:   11m at 2.68% TREO from surface and;                         
            21m at 2.56% TREO from 22m;                                 
                                                                        
PAWRC036:   91m at 4.78% TREO from 21m (including 9m at 12.09% TREO from
            22m and 9m at 8.60% TREO from 50m) and;                     
            5m at 2.29% TREO from 115m                                  
                                                                        
PAWRC037:   17m at 3.00% TREO from surface and;                         
            13m at 3.97% TREO from 21m and;                             
            13m at 4.20% TREO from 69m and;                             
            26m at 3.56% TREO from 94m                                  
                                                                        
PAWRC038:   17m at 2.98% TREO from surface                              
                                                                        
PAWRC039:   14m at 3.05% TREO from surface                              
                                                                        
PAWRC040:   12m at 3.04% TREO from surface                              
                                                                        
PAWRC042:   22m at 2.98% TREO from surface and;                         
            5m at 4.71% TREO from 52m                                   
                                                                        
PAWRC043:   65m at 4.02% TREO from surface (including 9m at 9.91% TREO  
            from 25m) and;                                              
            31m at 3.53% TREO from 78m (including 4m at 6.85% TREO from 
            87m)                                                        
                                                                        
PAWRC044:   72m at 2.99% TREO from 21m and;                             
            7m at 6.09% TREO from 48m                                   
                                                                        
PAWRC045:   19m at 3.82% TREO from 16m and;                             
            10m at 3.31% TREO from 47m                                  

The assay results reported for TREO are analysed from the Genalysis Laboratory in Perth, Western Australia using peroxide fusion and acid dissolution with ICP-MS finish. All samples were collected at the cyclone on the RC drill rig with samples fed through a sample splitter and a sample size of 1-3 kilograms submitted to the Nagrom assay labs in Perth with sample preparation being undertaken by the Nagrom assay labs. Table 2 provides a summary of the TREO results.

For the 14 holes being reported the average Thorium level intersected above reported cutoff grade is 288 ppm in the Niobium intercepts and 293 ppm in the TREO intercepts, while Uranium levels were 28ppm and 29ppm for Niobium and TREO intercepts respectively. Both Niobium and TREO laboratory repeats and "blind" duplicates show a very strong correlation that indicate an even distribution of grade throughout the samples and the absence of any nugget affect (Blind repeats for TREO R2=0.988 and Nb2O5 R2=0.9927).

Heavy Rare Earth Oxides plus Yttrium Content

Based on the overall results from the first 14 RC holes of the 2012 drilling program plus the 2011 diamond core drilling program and the 2010 RC drilling program (4,247m of drilling) the combined Yttrium and Heavy REO percentage (expressed as a percentage of the total proportion of Total REO plus Yttrium) is 9.25%. This represents a relatively high proportion of Heavy REO's plus Yttrium when compared to many other mineral deposits and represents a potential high value product (Table 3).

For the 1,462m of drilling in the first 14 RC drill hole results the combined Yttrium and Heavy REO percentage (expressed as a percentage of the total proportion of Total REO plus Yttrium) is 9.12% (Table 4).

Vanadium Oxides

PAW has begun analyzing for Vanadium in the 2012 drilling program and has recorded significant levels. The better intercepts include 51m of 0.31% V2O5 from drill hole PAWRC043 and 20m at 0.35% V2O5 from drill hole PAWRC034. See Table 5 that records the intercepts wider than 10m and above a 0.2% lower cut for V2O5.

Closing Comments

PAW's President Mr. Darren Townsend commented "The initial results from the 2012 RC drill program are highly encouraging for both depth and grade of Rare Earths and Niobium. Work continues on evaluating all the drill results received to date and once this is complete we look forward to finishing the residual 5,000 meters of the drill program and progressing towards an inaugural Rare Earth Resource for Mrima Hill".

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

Darren Townsend, President