Wildcat Exploration Ltd

Re:   News Releases - Wednesday, February 29, 2012
      Wildcat Exploration Completes First Year Earn-in Requirements and
      Extends Drilling at Burntwood Project in Thompson Nickel Belt,
      Manitoba
=======================================================================
 
Winnipeg, Manitoba, February 29, 2012 - Wildcat Exploration Ltd.
(TSX-V: WEL) is
pleased to report that it has satisfied the first year exploration
expenditure obligations
under its five-year option of the Burntwood property. In addition, the
company extended
its initial drill program by deepening the hole which had intersected a
quartz vein
assaying 152.5 g/t gold over one metre, and by drilling another hole
that targeted the
same mineral horizon approximately 25 m below the gold-bearing
intercept. Assays are
pending.
 
Drill hole TB-2011-02 intersected one metre (core length) of gold
mineralization grading
152.5 g/t gold from 125.9 m to 126.9 m (see News Release January 5,
2012). Native
gold occurs within a smoky-grey quartz vein and along the enveloping
wall rock. The
quartz vein is hosted within a well-foliated garnet-biotite-quartz
metasedimentary rock.
In February Wildcat deepened hole TB-2011-02 by approximately 15 m to
further test
for gold-bearing quartz veins. The company also drilled approximately
161 m in hole
TB-2012-01 to test the possible down dip extension of the gold
mineralization.
 
Tom Lewis, VP of Exploration commented, "As we were completing our
first year
program at Burntwood, we were able to take advantage of equipment
onsite to extend
the work. We are now working toward a more extensive second phase of
drilling to
follow up the exciting initial result which we believe is the first
instance of significant gold
mineralization found in the Thompson Nickel Belt. We are also
continuing to investigate
the nickel and copper potential of the Burntwood property."
 
The Burntwood property is located approximately 55 km southwest of
Thompson in the
Thompson Nickel Belt (TNB).
 
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
 
Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold
and base
metals in Canada. Its portfolio includes: (1) the Jeep, Mike Power and
Poundmaker gold
properties under option to San Gold Corporation, together with two
additional gold
exploration properties in the Rice Lake greenstone belt in Manitoba,
(2) the McVicar
gold property in the Uchi subprovince of Ontario, (3) the Reed Lake
base metal property
in the Flin Flon-Snow Lake greenstone belt in Manitoba, (4) the
Burntwood property in
the Thompson Nickel Belt in Manitoba and (5) the Foster
zinc-lead-silver property in
Saskatchewan. The Company seeks to continuously upgrade its property
portfolio
through exploration and accretive transactions.
 
For further information on Wildcat, please visit www.wildcat.ca or
contact:
 
Wildcat Exploration Ltd.
John Knowles, President & CEO
T: (204) 944-8916
Email: info@wildcat.ca
 
CHF Investor Relations
Stephanie Fitzgerald, Associate Account Manager 
T: (416) 868-1079 ext. 222 
Email: stephanie@chfir.com 
 
Cathy Hume, CEO
T: (416) 868-1079 ext. 231
Email: cathy@chfir.com
 
The TSX and the OTCQX exchanges have not reviewed and do not accept
responsibility for the
adequacy or accuracy of this release.
 
Cautionary Note
 
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the
information contained herein. 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.
 
=======================================================================
Copyright (c) 2012 WILDCAT EXPLORATION LTD. (WEL)  All rights reserved.
 For more information visit our website at
http://www.wildcatexploration.com/
 
 or send mailto:info@wildcat.ca
Message sent on Wed Feb 29, 2012 at 7:23:02 AM Pacific Time