WINNIPEG, MANITOBA--(Marketwire - June 9, 2011) - Wildcat Exploration Ltd. (News - Market indicators) is pleased to announce that it has started exploration field work on the McVicar Gold Project located in northwestern Ontario. Based on areas of geological interest identified on the property, Wildcat has staked additional claims, approximately doubling the area of this property. The McVicar Gold Project is located 80 km west of Pickle Lake and 30 km northwest of the former Golden Patricia Mine. From 1988 to 1996, the Golden Patricia Mine produced 450,000 ounces of gold at a grade of 0.7 ounces gold per ton. 

John Knowles, Wildcat's CEO commented, "With several gold zones to explore, the McVicar property provides Wildcat with the opportunity to build on our gold exploration experience honed in the Rice Lake camp, operating close to our Winnipeg office in greenstone belts with excellent mineral pedigree. I look forward to the results of the coming summer and winter programs which will evaluate the potential for McVicar to become a new high priority area for Wildcat."

The McVicar property is located in the western portion of the Lang Lake greenstone belt, which is part of the Uchi subprovince of Archean age. The Uchi subprovince has produced more than 30 million ounces of gold collectively from the Red Lake, Pickle Lake and other greenstone belts, including the Rice Lake greenstone belt, where Wildcat has advanced several gold properties.

The McVicar property is underlain by metasediments, metavolcanics and iron formation, which in turn have been intruded by tonalitic and gabbroic plugs. Three important NW–SE striking regional structures cut the property including the Bear Head Fault (BHF), Lower McVicar Fault (LMF), and the Altered Zone Fault (ALF). Previous operators explored these fault zones as primary gold targets on the property.

The property hosts several zones of substantial gold mineralization including: Altered Zone (AZ), North Flexure Zone (NFZ), AGM Zone, Chellow Vein, Shonia Zone, and the Sor Lake Zone. Over 15,000 metres of drilling has been recorded by previous operators. Historical (non-43-101) gold intersections include 6.46 g/t Au across 10.09 m (AZ), 5.5 g/t Au across 3.6 m (NFZ); and lower grade intersections on the Shonia and Sor Lake occurrences including 1.77 g/t Au across 7.06 m, and 1.44 g/t Au across 8.95 m. Gold mineralization occurs within altered tonalite containing narrow quartz-pyrite veins, and discrete quartz veins associated with the Bear Head and Lower McVicar fault zones.

Based on a compilation and study of historical geological data during the winter of 2011, Wildcat commissioned the staking of 11 additional mineral claims over the property bringing the mineral disposition to 21 claims totaling 5,112 ha. The staking was completed in May 2011. A map showing the expanded claim package will be published on Wildcat's website shortly.

In May and early June, 2011, Wildcat geological crews conducted detailed examinations, mapping and sampling over the known occurrences, and close-spaced traverses along strike of the gold zones. Wildcat's objectives for the field work were to: (i) evaluate and rank the gold occurrences on the property, (ii) test new mineral models developed by Wildcat geologists to explore the potential for low grade, bulk tonnage deposits, (iii) evaluate the gold occurrences for possible extensions or repetitions of the known mineralization. A total of 139 rock, channel, chip and grab samples have been submitted to TSL Laboratories in Saskatoon for gold and silver analysis. Results are pending.

On the Shonia gold occurrence, Wildcat completed two staggered, continuous channel cuts on approximately 50 metre intervals, across the tonalite intrusion. The purpose of this sampling was to evaluate the gold concentrations in northeast trending quartz-pyrite veins and the host rocks consisting of altered and pyrite-bearing tonalite. This approach was initiated based on the high gold concentrations noted in northeast trending structures and veins, which may have been undetected by previous, north-south oriented drilling that targeted east-west structures and veins. Wildcat's approach is also designed to evaluate the potential of these important structures to host low grade, bulk tonnage gold mineralization.

Further south, detailed mapping, sampling and prospecting was completed on the Chellow Vein system, to look for possible extensions and repetitions of the vein. The Chellow Vein is a 2 to 50 cm thick, smoky grey quartz vein hosted in sheared gabbro. The vein contains high grade gold concentrations that averaged 28.8 g/t Au based on a series of 34 channel samples taken on approximately 2 metre intervals across the vein (Waldie, 1993). In places the vein is boudinaged and previous operators proposed that gold concentrations within the vein are variable due to the nugget effect in tectonically stressed host rocks. In addition to detailed mapping of the vein, Wildcat's geologists are focusing on the gold potential of the vein on strike, especially in a southeasterly direction. This area near Dougie Lake, in the newly-staked claims in the southeast part of the property, hosts two quartz boulders which assayed 68.6 g/t Au and 137.1 g/t Au. These boulders were found between the Chellow Vein and the Golden Patricia Mine, located approximately 30 km on strike to the southeast. 

Wildcat plans a second phase of work on the property when the results from the May/June work are known. This work will extend the mapping and sampling into newly acquired areas including Dougie Lake and along strike from other gold occurrences on the property. In addition, airborne magnetic and radiometric surveys are scheduled for June. The magnetic survey will assist with geological mapping and structural interpretation, and the radiometric survey is expected to point to zones of enriched potassium, associated with gold mineralization as demonstrated in previous surveys. The Company's geologists anticipate that the summer work programs will result in the definition of multiple drill targets for testing during the winter 2011/12 season.

Wildcat's exploration program is managed by Tom Lewis, P.Eng., a Qualified Person as defined by NI 43-101, who has reviewed all technical information in this release.

About Wildcat Exploration Ltd.

Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base metals in Canada. Its portfolio includes: (1) several gold projects in the Rice Lake greenstone belt in Manitoba, (2) the McVicar gold property in the Uchi Subprovince of Ontario, (3) the Reed base metal and PGE project in the Flin Flon-Snow Lake greenstone belt in Manitoba, (4) the Burntwood nickel project in the Thompson nickel belt in Manitoba and (5) the Foster zinc-lead-silver project in Saskatchewan. The Company seeks to continuously upgrade its property portfolio through exploration and accretive transactions.

The Company's public filings, including its most recent audited consolidated financial statements, can be reviewed on the SEDAR website (www.sedar.com).

This news release may contain "forward-looking information", within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to Wildcat's exploration program and plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "believes", "plans", "seeks", "expects", "budget" or variations of such words or statements that certain actions, events or results may, could, will, will be, would be or are expected to be. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wildcat to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Wildcat does not undertake to update any forward- looking information, except in accordance with applicable securities laws.