Wildcat Exploration Ltd

The AGM was sparsely attended - there were approximately 15 people on 
hand including Wildcat staff (John Knowles, Tom Lewis, Peter Thayer, 
young geologist Adam, Glenn Gowryluk, Jodi Dare and receptionist 
Deborah) and board member Denis G. Fillion.    The others at the meeting 
included a few shareholders, the Michael Lee from Equity Financial 
Trust, and Tom Lewis' wife.
 
The formal part of the meeting ran smoothly and quickly as all of the 
regular business items (motions, etc) were approved as proposed in the 
Meeting Information Circular.  [Enough votes had been cast by proxies to 
pass all of the items before the meeting was even held.]  Following 
that, John Knowles and Tom Lewis spoke about the company operations 
using the Corporate presentation on the the wildcat website as a guide.
http://www.wildcatexploration.com/i/pdf/2011AGMfinal.pdf
 
A summary of some significant points made in the presentations are as 
follows:
 
1.   The equity markets in general have been very hard hit, and juniors 
have been particularly so.   Wildcat has been no exception.  Investors 
have fled equities in favour of Money Market Funds and bonds and 
corporations are sitting on cash.  The amount of money on the sidelines 
is estimated to be almost the same amount as the total market 
capitalization of all stocks today.  When the tide changes and the money 
flows back in, there will be a huge surge in equity markets.
 
2.  On the Rice Lake properties, San Gold has been drilling... they did 
16 holes on Mike Power and now have 15 planned for the Jeep property.  
This amount of drilling has come about because of the partnering 
arrangement - Wildcat would not have been able to do it on their own.   
So partnering is allowing drilling to happen without relying on Wildcat 
money alone (reducing the need to sell more shares/more dilution), and 
it is allowing there to be much more drilling.   In terms of building 
shareholder value, it is primarily drilling that creates more value as 
mineralization is found.  On the Mike Power property, San Gold has been 
able to confirm that the gold systems they have projected in their model 
do indeed extend to the west of San Gold's own property.  At Jeep, the 
drilling will be down lower than what Wildcat drilled, attempting to 
prove whether the higher grades of the old Jeep mine may extend down 
further than previously tested.  As well, San Gold did a new airborne 
survey and the result was some new targets of interest were 
identified.   Wildcat has limited plans for Siderock, and is not 
planning to be active on Garner in the near future.
 
3.  At Burntwood, there are plans to drill 8 to 10 holes.  The gold 
finding there was a surprise as this is a copper-nickel area, but Tom 
Lewis noticed some features in the preliminary work that reminded him of 
another project he had worked on.  Being curious, a hole was drilled and 
they discovered the gold.
 
4.  At Reed Lake, they have 3 or 4 prime targets.   Drilling here needs 
to be done in the winter as the best targets are in swampy areas.
 
5.  Joint Venturing - With both Burntwood and Reed Lake, Wildcat is 
looking for partners to help finance the progress and negotiations are 
ongoing with other companies in that respect.  As well, Wildcat has been 
approached by some large companies about working together on other 
projects in new locations as well.  The credibility and industry 
connections that John Knowles and Tom Lewis have is resulting in 
interest by other companies in working together.   A great example of 
partnering is the deal made with San Gold last year;  this has proven to 
be a very good arrangement as it is providing cash to Wildcat, while at 
the same time advancing the Rice Lake holdings.
 
6.  McVicar Lake - this area was deliberately chosen a couple of years 
ago as an underexplored area, away from the camps where everyone is 
competing with each other for holdings.  After another summer of 
exploration work there this year, it will be ready for drilling.  There 
are 6 targets that were already identified from work done prior to 
Wildcat's claim, and there are at least 3 other targets from Wildcat work.
 
7.  Cash Flow -- Working with the limited resources on hand while 
attempting to preserve the operational team has been the focus of 
operations.   In the context of today's equity markets, cash is tight.  
Wildcat has reduced cash outlays by about 25% through voluntary pay 
cuts, eliminating their own IR person (Wayne) and using a Toronto IR 
firm instead (and they have even limited that farim's activity lately to 
preserve cash), and they are open to sharing arrangements with other 
companies - allowing their staff to work for other companies at times to 
reduce Wildcat overhead.   The Wildcat office space will soon be shared 
by another junior company in order to reduce office costs as well.
 
8.  Foster Lake (Sask) - there are no plans to do much here for now.  
There are two areas of interest needing drilling but the high cost of 
drilling at Foster Lake (requiring all equipment to be flown in since 
there is no road access) makes it economically unfeasible in the current 
economic climate.  If a large company takes an interest in the property, 
then there would be opportunity to advance it.  The claims at Foster are 
still valid for another year and a half -- by 2014 some hard decisions 
may need to be made about whether it is worthwhile to extend the claims 
as costs rise when a claim is held onto, especially if there hasn't been 
work done.
 
9.  Opportunities - Wildcat is attempting to maximize its potential by 
working with its resources in an "as smart as possible" way in a very 
challenging environment.  It is doing that by:        -- preserving cash 
flow through reducing costs
                       -- engaging in joint ventures to advance projects 
with reduced cash outlays, and even positive cash inflow
                       -- sharing resources with others to maintain the 
ability to keep staff without bearing their full cost on the Wildcat books
                       -- being very selective about what is drilled so 
that every dollar spent has maximum potential to build value
                       -- being open to new opportunities in new areas.  
The current tough times will result in other juniors eventually being 
unable to continue; Wildcat may be able to step into some new situations 
with very low cost as others leave the scene.
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Source: From a friend