Traps.... note the WEL PP at .10.... I am surprised to see it is still trading at .17. I would expect a PP like this to pull the SP down. Any thoughts?

NorthLion

______________________

(from June 11th NR):

Financing

The Company has increased the size of its recently announced private placement to $1.2 million, for which regulatory approval has been received.

In addition the Company has received approval for the closing of the second tranche of the private placement. A total of 4,333,000 Units and 1,825,000 flow through shares are being issued in the second tranche, at an issue price of $0.10 each. A Unit consists of one non-flow through share and a warrant for the purchase of one additional common share within 24 months of the closing date at an exercise price of $0.20.

Gross proceeds from the second tranche are $615,800. Finders' fees of $16,380 are payable, together with 49,583 shares in lieu of cash. A total of 223,300 finders' warrants, exercisable on the same terms as the warrants forming part of the Units, will be issued.

The securities issued pursuant to the offering are subject to a four month hold period from the date of closing.

Wildcat's exploration program is managed by Peter Theyer, P.Geo., a Qualified Person as defined by NI 43-101, who has reviewed all technical information in this release.

About Wildcat Exploration Ltd.

Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base metals in Canada. Its portfolio includes: (1) the Foster River zinc project in Saskatchewan, (2) three gold properties and one gold and platinum group element (PGE) property in the Rice Lake greenstone belt in Manitoba, and (3) two PGE properties in the Snow Lake area of Manitoba. As the Company builds its property portfolio, Wildcat welcomes proposals from owners of advanced Canadian exploration properties.