Wildcat Exploration Ltd

A. Manitoba Properties – Rice Lake Greenstone Belt

1. Jeep Property

Planned Activities

Wildcat interpreted the results of the first quarter of 2010 drilling campaign. Wildcat plans to follow up these results with additional structural studies to identify new drill targets.

2. Poundmaker Property

In February, 2008 the Company granted an option, amended in February, 2009 and further amended in February, 2010, to StrikePoint Gold Inc. (StrikePoint) to acquire a portion of the claims that comprised the Poundmaker property. The optioned property consisted of 72 claims covering 12,176 hectares, approximately 10 km northwest of the San Gold’s Rice Lake Gold Mine. Wildcat retained the remaining 26 claims located in the southeast quadrant, now known as the Mike Power Project area.

Planned Activities

Exploration work pursuant to the optionee’s work obligation under the Poundmaker option agreement is under the direction of the optionee, StrikePoint contracted Apex Geoscience Ltd. in 2009 to execute their mineral exploration programs. Among the agreed terms, on or before April 30, 2010 StrikePoint is required to conduct $500,000 of exploration work on the optioned property, and on or before March 1, 2011 StrikePoint is required to conduct a further $1.5 million of exploration work on the optioned property. The Company has been informed by StrikePoint that it has conducted exploration work on the property, including a program of 1,600 m in 14 diamond drill holes in the Rio Zone, and that it has satisfied the April 30, 2010 expenditure requirement. The drill program was focused on identifying local structure and gold-bearing veins. A total of 550 samples were taken and at the time of this MD&A assay results have not been released by Strikepoint.

3. Mike Power Property

Current Activities

In May 2010, Wildcat contracted Geo Data Solutions (GDS) to conduct an airborne geophysical survey over the southeastern portion of the claim group. This survey completed the magnetic and EM coverage for the property. In July, the Company’s geologists completed detailed mapping to identify shear zones, quartz veins and associated alteration zones often associated with gold mineralization.

Planned Activities

In 2010, all previous exploration work was compiled in preparation for this summer’s field activities. Gold mineralization in the Rice Lake greenstone belt is structurally controlled, and hosted in various stratigraphic units. To follow up and prepare the area for subsequent drilling, a geological mapping program and an airborne magnetic and electromagnetic survey are planned to assist with identification of drilling targets

4. Siderock Property

Planned Activities

A compilation of all relevant geological information pertaining to this property has been prepared. Field work will concentrate on the gold and copper-zinc potential of the area.

5. Garner Property

Activities in 2010

Recent investigations identified the potential for gold in sulphidized iron formation and shear zone hosted sulphides. Assays from surface samples are pending.
In May 2010, Wildcat commissioned GDS to conduct an airborne magnetic and EM survey. This survey has been used to guide the recently completed field mapping and sampling program

Planned Activities

Wildcat will continue to evaluating this property based on the geology and results of this summer’s programs.

6. Mable Lake (Ramrod) Property

Planned Activities
Wildcat will consider offering this property for option on the basis of positive features including:
a) Proximity to a major shear zone that may be a conduit for mineralization;
b) Large number of quartz veins on the property, most of which have not been sampled and analyzed for gold; and
c) Proximity to historical gold mine workings.

B. Flin Flon - Snow Lake Greenstone Belt

1. Reed Lake Property

In May 2010, Wildcat increased its holdings in the Reed Lake area by staking 11 contiguous claims totaling 1,995 ha. In addition, Wildcat crews conducted surface geological mapping and prospecting coupled with ground magnetic surveys. These programs identified two target areas warranting further follow up work. Assays from surface samples have not been received.

Planned Activities

Geological and structural mapping, and geophysical surveys in preparation are planned. The objective of these surveys is to generate Cu-Zn and/or Ni-Cu-PGE drill targets for 2011.

2. Iskwasum Property

During 2009 the Company did not renew the claims comprising the Iskwasum property, and as a result wrote off its investment on this property.

C. Saskatchewan Property

1. Foster River Property

Planned Activities

The economic potential of the Foster River mineralized layers is dependent on the discovery of structurally thickened zones. It has been demonstrated that some of these zones are associated with fold closures and repetitions. Wildcat plans to re-visit the property this summer to familiarize new staff with the mineralized zones and to evaluate potential for the future.