Wildcat Exploration Ltd

Sorry for delay in getting this posted -- the renovations in my backyard are taking priority over many other things these days. We are adding a 15' (above ground) pool, which will hopefully be worth the effort that it is taking to reconfigure the yard, move dirt, flowers and underground sprinkler lines, and do the base prep for the pool!

Back to AGM! After the business session, which was totally routine, as mentioned, John Knowles made some general comments on the markets, accomplishments of 2010 and objectives for 2011. Included in his remarks:

- markets are still unstable. Gold is expected to remain high in the short term. Base metals are expected to remain low short-term, but to be strong in the long-term.

- in 2010, the litigation with the previous CEO was settled without additional cost to the company, Ed Yarrow was added to the board, $2.4 million was raised for 2011 field work, and the company expanded to include the MacVicar property (in Ontario) and Burntwood (near Thompson, MB).

- in 2011, the expectation is to move 3 or more projects to drill stage, to look for partnering arrangements with others to leverage opportunities, maintain a higher profile within the induustry (e.g. at shows, with brokers and analysts), and to take a cautious approach to spending.

Following John Knowles, Tom Lewis (VP of Exploration) surveyed all of the company's projects with details on activities and plans, using the updated Corporate Presentation as his outline. Some of the items included in Tom's presentation (silde numbers are as printed on the slides themselves - note there is no number 9):

Slide 3 - All of the Wildcat properties are within a one-day drive of the head office in Winnipeg, which is good from a cost-control perspective. At this point, Foster River is too isolated to be a high-priority project. Wildcat will remian open to expressions of interest from other parties willing to joint-venture.

Slide 4 - In the Rice lake area, the geology of the area is becoming more understood, especially as the model developed by Bill Ferreira of San Gold has been proven quite accurate on their property. Drilling done on Wildcat's Mike Power property last year did verify the extension of that model onto our property. Looking at Slide 4, you can see the "bulge" south of the Jeep property; the interpretation is that this bulge got squeezed between the adjoining rock formations and gold bearing liquid was forced out to the ends, resulting in deposits around the Rice Lake Mine/Mike Power and on the south-east end around Garner Lake. They have not given up on Jeep yet; it is felt that deposits there seem to have more of a "localized pocket" effect, and there is one area being looked at more closely to see whether it might be mineralized more highly so as to be more economically viable. Past drilling has not yielded results that would qualify for further development. There are plans to re-do an airborne survey of Siderock; with new technology available now, perhaps better information will be realized. There are also still 4 drill targets to follow up on from 2010 field work. There are no plans for the Garner Lake property this year; also no plans to drill on Poundmaker. The preference is to focus on the south side of Poundmaker, and some prospecting and mapping will be done this year.

Slide 6 - Like the slide says, there will be follow-up work done at Mike Power with plans to drill there again in the winter. Four targets are in view at this point.

Slide 7 - Illustrating the other area at Jeep that is going to be looked at more closely.

Slide 8 - MacVicar Lake was the 1st area staked in the Uchi geologic subprovince. After doing a fresh review of the geological data of the area last year, there were about 15 potential targets identified, and these were ranked on a scale of highest to lowest potential. MacVicar Lake was #1 on the list and it was staked. Plans are to now look at the next 3 or 4 potential targets in the ranked list and to stake additional properties.

Slide 10 - There are 4 targets in the MacVicar Lake area that are of interest. There were two boulders found near Chello Lake area with gold mineralization. Channel cuts were done at SOR Lake to try to get a reading on the rocks there. Previous operators have drilled at Shonia and found gold mineralization there.

Slide 11 - At Reed Lake, VMS Ventures is doing a feasibility study on their property to the south of Wildcat's land, and it could go into production. Wildcat was able to get old HudBay flyover data for their Reed Lake and there are plans to drill again at Reed Lake next winter.

Slide 12 - The Burntwood property is in the nickel belt that formed between two continental plates. There were plans to drill there last winter, but the ice on the lake was not thick enough to be safe so it was deferred, and will be attempted again this winter. [Drilling in the winter cuts the costs of drilling roughly in half; summer drilling usually requires helicopter access, whereas winter drilling allows the use of ice roads and winter roads.]

Slide 13 - Summarizes the schedule of expected work to be done.

There were some questions and answers after this which I will post separately (likely a little later - it's suppertime now).

NL