Wildcat Initiates Summer Exploration Programs



    Airborne Geophysics Commissioned for Jeep Project;
    Field Teams Mobilized to Jeep and Garner Projects

    WINNIPEG, June 5 /CNW/ - Wildcat Exploration Ltd. (WEL: TSX-V) Wildcat
Exploration Ltd. is pleased to announce the commissioning of an airborne
geophysical survey on the Company's wholly-owned Jeep Property located in the
Rice Lake Greenstone Belt of southeastern Manitoba. In 2001, the Company
conducted an airborne geophysical survey covering 2050 hectares of the
property group, in the southern half of the current land package in close
proximity to the historic Jeep Gold Mine. In the past year the Company has
staked 9 claims for an additional 1966 hectares, encompassing the known
northward extent of the "Jeep Gabbro". This additional ground is the focus of
the airborne survey and current ground exploration programs.
    The Company has commissioned Fugro Airborne Surveys Corp. of Mississauga,
Ontario to conduct a helicopter-airborne magnetic and electromagnetic survey
over recently staked claims in the northern portion of the Jeep property. The
survey will comprise 567 line kilometers with flight line spacings of 50
meters. It is anticipated that survey results will be available in early fall.
    The Company has also initiated surface exploration programs on its
properties in the Rice Lake Greenstone Belt which includes integrated
geological mapping, prospecting, and sampling on prospects and recently
developed showings. Two teams have been mobilized to the area. The first team,
under the direction of Peter Theyer P.Geo, has initiated geological mapping,
prospecting and sampling on the Jeep Property, to follow up on results
achieved from the recent Jeep property drill program. The program targeted
both the southeastern prolongation of the No. 1 gold-bearing quartz vein
system of the historic Jeep Gold Mine, and was also designed to outline and
extend the strike and width of the discovered Nickel-Copper-PGE mineralization
associated with the No. 1 mineralized quartz gold vein.
    According to Mr. Theyer, "There are good arguments that the entire length
and width of the "Jeep Gabbro" has a potential to contain similar
mineralization. This as yet quite undefined sulphide mineralization, occurs at
and adjacent to the margins of the "Jeep Gabbro" a complex assemblage of
gabbroic and dioritic magmatic bodies that intruded and partially assimilated
clastic mafic to felsic heterolithic sulphide-bearing debris. Addition of
silica and sulphides to magma are well-known triggers of sulphide
immiscibility and consequently of formation of immiscible sulphide
concentrations. Comparable sulphide concentrations are known to occur in the
margins of a swarm of intrusions of Paleoproterozoic age, the "Nippissing
Gabbros" near Sudbury in Ontario."
    To date, on the Jeep Property, the Company has established the existence
of a several hundreds of metres long, disseminated to semi-massive and massive
sulphide body currently open in all dimensions. Rock samples collected from
this sulphide body returned several elevated Ni Cu and PGE concentrations
proving the potential that these sulphides may contain Ni Cu and PGE
concentrations of commercial importance.
    A second prospecting team has been engaged by the Company and has
initiated a surface exploration program focusing in the area of the Beresford
Lake Shear Zone (BLSZ), on the Garner Lake Property. Previous results from
grab samples obtained by the Company at the Marlin showing in the BLSZ have
assayed 28.4 g/t and 40.16 g/t gold with follow up sampling assaying returning
values up to 153.2 g/t gold (see News Release September 19, 2005). At the
Swordfish showing (also within the BLSZ), 350 metres south of the Marlin
discovery, surface rock grab samples returned up to 18.2 g/t gold. Another
showing, 150 metres to the north of the Marlin occurrence, and along strike,
grab samples from a 10 cm quartz vein returned 3.1 g/t (see News Release,
October 17, 2005). The combined showings total 500 metres in strike length,
along a north northwest-south southwest trend. The 2007 summer program is
designed to determine the extent along strike of this highly prospective gold
zone. Results from the summer program will be integrated into the geological
database to assist in defining drill targets.
    The Company has just completed a 36 hole 8,234.9 metre drill program on
its Jeep Project and all samples have been sent for assay. Results have been
reported on 21 holes, with assay results pending on the remainder. The Jeep
Property encompasses a total of 4,016 hectares on 26 contiguous claims, all
ground being prospective for gold, nickel, copper, and Platinum Group
Elements.
    The previous airborne geophysics flown by the Company on the Jeep
Property outlined a magnetic anomaly in close proximity to the historic Jeep
Gold Mine. The current drill program was designed to explore the anomaly, and
to explore for the potential strike extension of the Jeep Mine No. 1 gold
vein. In addition to the results achieved in extending the No.1 mineralized
gold vein (reported elsewhere: see Company News Releases on www.sedar.com or
www.wildcat.ca) results from the drilling of the anomaly have returned
encouraging Ni-Cu-PGE values and intercepts.
    Drill hole JP-06-05 returned assay results from a 10 metre downhole
intersection of 0.13% Nickel, 0.31% Copper, 0.44 gpt Gold, 2.4 gpt Silver, 124
gpt Cobalt. JP-06-07 returned assay results from a downhole intersection of 2
metres of 0.31% Nickel, 0.26% Copper, 0.41 gpt Gold, 3.0 gpt Silver, 84 gpt
Cobalt, 50 ppb Palladium and 55 ppb Platinum. (see News Release; March 19,
2007). Hole JP-07-10 intersected a 5.36 metre Ni-Cu-PGE mineralized zone from
93.03 to 98.39 m downhole, which assayed at 0.40% Nickel, 0.17% Copper, and
0.16 gpt Gold, 1.9 gpt Silver, 90 gpt Cobalt, 58 ppb Palladium and 43 ppb
Platinum, which includes a 1 metre interval of 0.83%, Nickel, 0.20 %, Copper,
0.19 gpt, Gold, 2.4 gpt Silver, 160 gpt Cobalt, 60 ppb Palladium and 25 ppb
Platinum. JP-07-10 also intersected the No.1 gold vein structure and assayed
56.38 gpt Gold across 0.38 metres from 204.39 to 204.77 metres downhole. (see
News Release; April 03, 2007).
    Hole JP-07-11 intersected the No. 1 gold mineralized vein and assayed
17.63 g/t Gold across 0.72 metres downhole from 183.0 to 183.72 metres, and
two zones of Ni-Cu-PGE mineralization.
    
    -   The first zone, from 102.7 meters to 116.1 meters downhole, assay
        results include 14.4 meters of 0.28% Nickel, 0.20% Copper, 0.25 gpt
        Gold, 1.9 gpt Silver, 83 gpt Cobalt, 46 ppb Palladium and 45 ppb
        Platinum. This intersection includes 1 metre of 0.64% Nickel, 0.27%
        Copper, 0.3 gpt Gold, 2.2 gpt Silver, 140 gpt Cobalt, 70 ppb
        Palladium and 100 ppb Platinum from 106.1 to 107.1 meters downhole

    -   The second zone of Ni-Cu-PGE mineralization, over 0.3 meters, was
        intersected downhole from 214.87 to 215.17and returned assays of
        0.59% Nickel, 0.23% Copper, 0.31 gpt Gold, 2.6 gpt Silver, 1900 gpt
        Cobalt, 2.63 gpt Palladium, and 25 ppb Platinum. (see News Release;
        April 3, 2007)
    

    Subsequent to the work program on the Garner Lake Property, the second
prospecting team will be mobilized to assist the field program currently
underway on the Jeep Project, and is scheduled to conduct a program of work on
the Poundmaker Property and the Siderock Property.
    Wildcat's 2007 exploration program is being managed by Tim Tuba, P.Geo.
and Peter Theyer, P.Geo.; both are Qualified Persons as defined by NI 43-101.
All technical information in this release has been reviewed by Tim Tuba,
P.Geo. as the Qualified Person.

    Wildcat is a Winnipeg-based mineral exploration company actively
exploring for gold and base metals in Canada. Project areas in Manitoba are
centered in the Rice Lake greenstone belt and in the Flin Flon/Snow Lake
mineral district at Reed Lake. In Saskatchewan the Company is focused on its
Foster River/Hewetson Lake zinc, lead, silver project.
    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,
Interim 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; Wayne Stebbe, Vice President Investor Relations, e-mail:
w.stebbe@wildcat.ca, Unit 203-1780 Wellington Avenue, Winnipeg, Manitoba, R3H
1B3, Phone: (204) 944-8916, Fax: (204) 944-8918

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WILDCAT EXPLORATION LTD.

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