Wildcat Exploration Ltd

Welcome To The Wildcat Exploration Ltd HUB On AGORACOM Wildcat Exploration Limited is a publicly traded company actively exploring in Canada for precious and base metals.

almost 14 years ago

On Friday, Wildcat released more details on the McVicar acquisition in Ontario (copy of New release below - with pertinent parts underlined). But, from discussions on Saturday, I learned a little more about the process Wildcat went through.

The Uchi Subprovince is a geologic zone which extends eastward from Rice Lake, past Red Lake and Pickle Lake. Since these three areas have proven to contain significant quantities of gold, the thought was that there might be other areas in-between which might also be worthwhile exploring.

An extensive research project was undertaken, accumulating infomation on the entire Uchi area on the Ontario side, including past workings, gelogical data, magnetic survey results, etc., and this information was assembled for review and analysis. They used a "zero-based" approach, first looking at the field data/mag results without identifying specific existing mines locations. They identified a number of "hot spots" that way, which would have warranted further consideration. They then revealed where the existing mines were (e.g. Red Lake, Pickle Lake, etc.) and, of course, they corresponded to some of the "hot spots", which confirmed that the basis of their evaluation procedure was correct.

They then went on to mark all of the most probable locations of interest based on this evaluative approach. Then, they looked at which areas were already claimed or staked, and which areas were not. In doing that, Wildcat ended up with a number of areas of interest, where property was open to be staked. After that, additional more-detailed research was done on a couple of the locations and the most-promising one at McVicar Lake was staked. It is likely that some other locations may also be staked after further research on potential target areas is done.

Note that McVicar Lake has had previous work done by a former stakeholder, but the property had become open when previous parties either changed their focus or lost their rights on the property due to lack of activity. This has provided a new opportunity for Wildcat, and options for further exploration and devlopment are being considered. Slide 10 of the most recent Corporate Presentation on the Wildcat website includes plans for an airborne mag survey to be done on McVicar in this quarter (Q4-2010).

In connection with these growth prospects, remember that the game plan of Wildcat is given on Silde 18 of the presentation:

Leveraging Capacity, Increasing Opportunities, External Growth
• Acquisition targets close to home
• Expanding property portfolio
• Maintaining gold and base metals focus
• Networking with potential partners

_________________________________________

Breaking News

Wildcat Provides Update on McVicar Gold Property Acquisition in Its Uchi Generative Project, NW Ontario

09:00 EST Friday, November 19, 2010

WINNIPEG, MANITOBA--(Marketwire - Nov. 19, 2010) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to provide additional information on the recently acquired gold exploration property (see News Release Nov. 15, 2010), acquired by staking in the Uchi Subprovince of northwestern Ontario. The acquisition is the first property acquired as a result of a generative project carried out by the Company in the Uchi, a large geological area that hosts many gold deposits including those of the Rice Lake, Red Lake and Pickle Lake camps.

The Uchi generative project involved an extensive review of public reports and documents stored within the Ontario Geological Survey database. By analyzing the data and applying an innovative interpretive approach, Wildcat's geologists recognized several new properties for gold exploration. To date, Company geologists have conducted preliminary field examinations of two of the prospective target properties, resulting in the acquisition of the McVicar property.

The Company has staked 10 claims encompassing approximately 2400 ha over and around McVicar Lake, located approximately 80 km west of Pickle Lake Ontario, within the Lang Lake greenstone belt of the Uchi Subprovince belonging to the Superior Province. The property is underlain by gabbro and mafic to felsic volcanic rocks of Archean age that have subsequently been intruded by granite and tonalite. Structurally, the property is host to 3 major fault zones including: 1) Bear Head Fault, 2) Lower McVicar Fault, and 3) Altered Zone Fault.

Known gold mineralization on the property is concentrated in four main zones, namely the Altered Zone, North Flexure Zone, the Shonia #1 Zone and the Chellow Vein. Gold occurs in highly sheared and altered zones associated with quartz veins, carbonates, tonalitic intrusions and disseminated sulphides.

All of the known gold zones have been tested with near-surface drilling in the past, and are open both along strike and at depth. Significant drilling results from the Altered Zone include intersections of 5.7 g/t gold across 7.1 metres and 14.3 g/t gold across 4.63 metres. Significant drilling results from the North Flexure Zone include 9.3 g/t gold over 2.02 m, from the Shonia #1 Zone, 4.4 g/t gold over 2.30 m and from the Chellow Vein, 1.2 g/t gold over 0.30 m.

Tom Lewis, Wildcat's V.P. Exploration, commented: "I am pleased that our team was able to identify, inspect and stake a gold property like McVicar, so soon after completing our generative project in the Uchi region. The McVicar gold property displays potential at the previous discovery zones, as well as under-explored potential elsewhere on the property. Our Uchi project has generated multiple target properties for investigation and potential acquisition. We're looking forward to exploring McVicar and investigating the other target properties."

Drilling results in this release are historical in nature, generated prior to the quality control and assurance standards of NI 43-101, and are therefore not to be relied upon.

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