Wildcat Exploration Ltd. Closes $1,000,000 Non Flow-Through Financing
Winnipeg, MB - November 13, 2009: Wildcat Exploration Ltd. (WEL: TSX-V) is pleased to announce the closing of a non-brokered private placement of common shares for gross proceeds of $1,000,000. The Company will use the proceeds for corporate activities including those related to ongoing exploration activities in Manitoba on the Company’s gold projects in the Rice Lake greenstone belt, the Reed base metal and PGE project in the Flin Flon greenstone belt, and the Company’s Foster zinc-lead-silver project in Saskatchewan.
The Company is in the final stages of planning a minimum 2,500 meter drill program on its Jeep Gold project, where previous drilling by the Company has intersected up to 109.5 g/t Au (3.52 opt) over a core length of 0.78 meters. The Jeep Gold project is the site of the former Jeep Gold mine, reputed to be Manitoba’s highest average grade gold producer. The project is 14 kilometers east of Bissett, Manitoba where San Gold Corporation has recently discovered significant new near surface zones of high grade gold within the historic San Antonio mine lease.
Subject to TSX approval a total of 8,333,333 common shares have been issued at a price of $0.12 share. In connection with the financing, a finder’s fee of $50,000 has been paid, and 416,666 finder’s warrants have been issued by the Company. Each warrant is exercisable to purchase one common share for $0.175 before November 14, 2011.
“We are pleased to have attracted this institutional interest in Wildcat,” says the Company’s president, John Knowles. “This reflects confidence in our team, our projects and our potential. It is a testament to our recent exploration successes and the current level of success on adjacent properties in both of our Manitoba mining camps.”
About Wildcat Exploration Ltd. Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base metals in Canada. Its portfolio includes: (1) several precious metal properties in the Rice Lake greenstone belt in Manitoba, (2) the Reed base metal and PGE property in the Flin Flon greenstone belt in Manitoba and (3) the Foster zinc-lead-silver project in Saskatchewan. As the Company builds its property portfolio, Wildcat welcomes proposals from owners of advanced Canadian exploration properties.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
For further information on the Company please visit our website at www.wildcat.ca or contact us at info@wildcat.ca. The Company's public filings, including its most recent audited consolidated financial statements, can be reviewed on the SEDAR website (www.sedar.com).
Source: Wildcat Exploration Ltd. John Knowles Suite 203, 1780 Wellington Avenue Winnipeg, Manitoba, R3H 1B3 Phone: (204) 944-8916 Fax: (204) 944-8918
