WEL

Wildcat Exploration Ltd. (TSX VENTURE:WEL)is pleased to report that it has
completed the previously announced program consisting of three drill holes
totaling 510 metres on two targets on its Burntwood property in the prolific
Thompson Nickel Belt. Assays are pending. 


Tom Lewis, VP of Exploration for Wildcat commented "We are pleased that our
drilling at Burntwood intersected sulphide mineralization within ultramafic
rocks of the Ospwagan group and assays will provide definitive information. We
also have other drill targets in this belt, but freeze-up conditions are
required in order to drill them. In the meantime, our geologists are preparing
several copper-zinc targets on Wildcat's Reed project in the Flin Flon
greenstone belt. These targets are hosted in favourable rocks along strike from
the Reed copper deposit of HudBay Minerals and VMS Ventures." 


The Burntwood property consists of 58 claims located approximately 55 km
southwest of Thompson, Manitoba, and was optioned from the exploration unit of
Anglo American plc ("Anglo American") (News Release September 7, 2010).
Originally two holes totaling 400 m were planned; however, Wildcat decided
onsite to add a third drill hole beneath the second hole. The drill sites are
approximately 6 km east of Highway 6 in the vicinity of Phillips Lake. The
helicopter-supported drill program targeted two anomalies that were identified
from a VTEM airborne magnetic and electromagnetic survey contracted by Anglo
American.


Drilling intersected Archean granites and granite gneisses of the Superior
Craton and mafic and ultramafic rocks interpreted to be part of the Ospwagan
group. The Ospwagan group of rocks hosts the producing nickel-copper deposits in
the Thompson Belt. Drill hole TB-2011 02, in a section of core approximately 20
metres in length, intersected intermittent zones of disseminated and
fracture-filled sulphides observed within brecciated and massive peridotitic
rocks. Drill core samples have been submitted to TSL Laboratories in Saskatoon
for analysis. Following receipt of the assay results, Wildcat's geologists may
follow up with downhole pulse electromagnetic surveys designed to detect the
presence and direction of off-hole sulphide mineralization. 


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) several gold projects in the Rice
Lake greenstone belt in Manitoba, (2) the McVicar gold property in the Uchi
subprovince of Ontario, (3) the Reed base metal and PGE project in the Flin
Flon-Snow Lake greenstone belt in Manitoba, (4) the Burntwood nickel project in
the Thompson nickel belt in Manitoba and (5) the Foster zinc-lead-silver project
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.

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.

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