Exploration Update at Foster River Project-Saskatchewan,Canada



    WINNIPEG, March 5 /CNW/ - Wildcat Exploration Ltd. (TSX-V:WEL) is pleased
to announce the results of its summer 2006 exploration program. The Company's
field crew completed an exploration program in August, which included detailed
geological and structural mapping, rock and soil sampling, and prospecting of
the known mineral prospects.
    "We are pleased with the results achieved to date by our geological
team," said Chairman Jerrold Siemens, Interim President of the Company. "From
acquisition of the property in late 2004 to the recent surface exploration
program in 2006, the project is advancing well. Dr. Paul G. Spry, Professor of
Economic Geology, Iowa State University, recognized exciting parallels between
the Foster River Property and the world class Broken Hill Pb-Zn deposit in
Australia from work initiated by the Company in fall 2005."
    Significant alteration was recognized on the Foster River Property:
quartz garnetite was identified in the footwall of the zinc-lead-silver
mineralized quartzite horizons. Laminated quartz garnetite at the Sito West
occurrence is identical to banded quartz garnetite that is intimately
associated with the lead lode orebodies at Broken Hill whereas massive quartz
garnetite at the Sito East occurrence resembles quartz garnetite that is
located in the stratigraphic footwall of the large Black Mountain BHT deposit,
Aggeneys, South Africa. Such garnet-rich rocks (usually Mn-bearing) are
considered to have been either metamorphosed exhalites and/or alteration zones
formed from the same fluids that transported the ore-forming metals and are
characteristic of BHT deposits, in general.
    Coarse grained sillimanite-rich rocks identified at the Sito East
occurrence, are identical to so-called "pod-rocks" spatially associated with
metamorphosed massive sulfide deposits worldwide. Such rocks are common in
stratabound hydrothermal alteration zones, where most elements have been
leached out leaving aluminum rich residues.
    A petrological and mineralogical study of samples collected from the Sito
East, Sito West and Fable Lake areas was conducted by Dr. Paul G. Spry, Prof.
of Economic Geology, Iowa State University, in spring of 2006. The focus of
the study was to compare the mineralization at Foster River with Broken
Hill-type mineralization and to evaluate the potential of using the
composition of gahnite (a zinc mineral) and garnet as guide to mineralization
in the Foster River area.
    Gahnite was analyzed and was found to have a composition essentially
identical to that of the "C" and "B" lodes at Broken Hill deposit. Garnet
compositions were also analyzed from the Foster River area and found to have
Fe-Mn compositions similar to those in most garnet-rich rocks surrounding the
Broken Hill Deposit (excluding Ca-rich garnet from 2 lens). It would appear
that gahnite composition is an excellent guide to sulfide mineralization in
the Foster River area, consistent with the findings of Spry and Scott (1986)
and Heimann et al. (2005) for gahnite from other terrains worldwide. Of great
significance, is that the composition of gahnite from the Foster River area is
similar to that from the Broken Hill deposit and deposits in the Aggeneys
area.
    Quartz garnetite and gahnite-bearing horizons that host the mineralized
horizon on the Foster River property closely resemble lode rocks in the Broken
Hill area, and in some cases are virtually indistinguishable. The
mineralization at Foster River is hosted in graphitic and magnetite-bearing
rocks similar to those observed in the Aggeneys area while in other places
calcite- and pyroxene-bearing mineralization at Foster River mimics that which
is observed at the No.2 lens at Broken Hill.
    The Company also conducted a multi-element Mobile Metal Ion ("MMI") soil
geochemical survey over the Fable Lake mineralized horizon under the direction
of Dr. Mark Fedikow of Mount Morgan Resources Ltd. The samples were submitted
in early February for analysis and results are pending.
    All technical information in this release has been reviewed by Tim Tuba,
P.Geo. as the Qualified Person on behalf of Wildcat.

    Wildcat is a Winnipeg-based mineral exploration company actively
exploring for gold and base metals in Canada. For further information on the
Company please visit our website at www.wildcat.ca or contact us at
info@wildcat.ca.

    On behalf of the Board

    "Jerrold Siemens"
    Interim President and CEO

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this press release.

    This news release may contain forward-looking statements based on some
assumptions and judgments regarding future events or results. Such statements
are subject to a variety of risks and uncertainties which could cause actual
events or results to differ from those reflected in the forward-looking
statements. The Company disclaims any intention or obligation to revise or
update such statements.

    %SEDAR: 00014885E




For further information:

For further information: Wildcat Exploration Ltd., Jerrold Siemens,
President and CEO, e-mail: j.siemens@wildcat.ca, Unit 203-1780 Wellington
Avenue, Winnipeg, Manitoba, R3H 1B3, Phone: (204) 944-8916, Fax: (204)
944-8918, Additional Information: info@wildcat.ca, Company website:
www.wildcat.ca

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