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WINNIPEG, MANITOBA--(Marketwired - July 23, 2013) -
Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to announce that it has received the cash and share consideration for the sale of three of its four exploration properties in the Rice Lake, MB area to San Gold Corporation ("San Gold"). The three properties, Poundmaker, Mike Power and Jeep (the "Properties"), were under option to San Gold pursuant to an August, 2011 agreement.


The cash payment of $200,000 and a total of 2,380,952 shares of San Gold were received. In addition, Wildcat has retained a 2% net smelter returns royalty payable on any future production from the Properties and will receive a total of $250,000 in cash payments over ten years as an advance royalty. The agreement also provides for a $1 million payment to Wildcat if 500,000 oz or more of gold resources on the Properties are confirmed in a NI 43-101 compliant technical report within four years following the closing date.


"While we progressed towards the sale transaction, our geologists were busy managing work in the Wildcat-Doe Run Canadian Exploration Alliance," commented John Knowles, Wildcat's President and CEO. "Drilling is in progress at the Island Lake and Sewell Brook base metal properties, which are held by Doe Run Canadian Exploration ULC and in which Wildcat has an earn-in right."



About Wildcat



Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base metals in Canada. It manages exploration on its own properties in Ontario, Manitoba and Saskatchewan and has prepared drill programs for its Burntwood MB project (gold, nickel), Reed Lake MB project (copper, zinc) and McVicar ON project (gold), which are subject to availability of partners or other funding sources. In addition, Wildcat is the manager of the Wildcat - Doe Run Canadian Exploration Alliance which is exploring in New Brunswick for base metal deposits.



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FOR FURTHER INFORMATION PLEASE CONTACT:







Contact Information:
Wildcat Exploration Ltd.
John Knowles
President & CEO
(204) 944-8916
[email protected]
http://www.wildcat.ca/">www.wildcat.ca


CHF Investor Relations
Cathy Hume
CEO
(416) 868-1079 ext. 231
[email protected]