WINNIPEG, MANITOBA--(Marketwire - Nov. 2, 2007) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) ("Wildcat" or the "Company") is pleased to announce that fall/winter work programs have commenced on its properties in the Rice Lake Greenstone Belt area of Manitoba.

Ground geophysics (IP and Mag) is currently under way on the Mike Power grid which straddles the Gold Creek shear zone in the southeast quadrant of the 15,205 hectare Poundmaker property. The property's eastern boundary is approximately 6 km. west of the town of Bissett, Manitoba, home to the Rice Lake Gold Mine. This follows the recent completion of approximately 44 km. of line-cutting on the grid. The current work programme is investigating strong geochemical anomalies that were identified in a mobile metal ions ("MMI") survey completed in 2005-2006. Early indications suggest that there are sulphide concentrations consistent with the location of the MMI anomalies, however, additional potential sulphide concentrations have been identified that were only weakly or not present as MMI anomalies. Based on targets generated to date, Wildcat plans to drill up to 2400 metres on the property. Drill crews have been mobilized to the site and drilling is expected to start within the next few days. The final extent of drilling is dependant on the results of the work now in progress.

Geophysical work is also planned for the Saxton (Clinton/Liberty zones), Rio and Poundmaker Mine areas of the Poundmaker property. Drilling, based on geophysical results, is planned for the remainder of this year and early 2008.

On the Jeep property, located 15 km. east of Bissett, Manitoba, plans include geophysical surveys and drilling to investigate existing shear zones and possible obliquely-angled shear zones for their potential to contain gold and platinum group elements. The work is in the area of the gold-bearing Number 1 quartz vein of the former Jeep Mine, the length of which was extended by the Company's drilling in 2006/07 to 1.1 km. Additional targets include a palladium-hosting shear zone adjacent and parallel to the Jeep Number 1 quartz vein, indicated from the past season's drill program.

Peter Theyer, Wildcat's Senior Geologist, said, "We have entered a very active phase in Wildcat's evolution. On our Poundmaker and Jeep properties our line cutters are being immediately followed by geophysical crews with the drillers close behind. We will soon commence work at our Reed Lake property in the Flin Flon-Snow Lake Greenstone Belt and we are planning winter geophysical and drilling programmes for the Foster River property in northern Saskatchewan, details of which will be announced as appropriate. At the same time we are reviewing proposals for acquisition of prospective new projects and entertaining proposals for optioning out of certain of Wildcat's properties."