Wildcat Exploration Ltd. - Drill Program Intersects High Grade No. 3 Vein System at Depth

    WINNIPEG, June 22 /CNW/ - Wildcat Exploration Ltd. (WEL: TSXV) is pleased
to announce additional results of the drill program conducted on the Jeep
Project in the Rice Lake Belt in southeastern Manitoba. Significant gold
values assaying 15.96 gpt gold over 0.68 meters were intersected from 86.67 to
87.35 metres including 32.37 gpt gold over 0.32 metres from 86.67 to 86.99
metres in hole JP-07-28.
    Assays have been received from both Stage 2 and Stage 3 of the Jeep
Project 2006-7 drill program. Stage 2 of the Jeep Project 2006-7 drill program
was targeted northwest of the historic Jeep Gold Mine along the trend of the
No. 1 gold bearing quartz vein.
    Holes JP-07-22 to -27 were drilled to test the possibility that there
might be a prolongation of the No. 1 quartz vein system northwest of the Jeep
Mine. The holes were drilled with a 50 metre separation along strike. Drill
hole JP-07-22 was drilled 80 metres northwest of the Jeep Mine shaft and
JP-07-27 drilled over 300 metres northwest from the Jeep Mine shaft. The No. 1
gold quartz vein system was intersected in all drill holes as well as
associated fuchsite alteration which was intersected in most holes.
    Hole JP-07-22 intersected 0.23 g/t gold over 0.5 metres from 44.9 to 45.4
metres downhole. Hole JP-07-23 intersected 1.18 g/t gold over 1.0 meter from
68.63 to 69.63 metres. No anomalous gold mineralization was cored in hole
JP-07-24. Hole JP-07-25 intersected 0.13 g/t gold from 112.3 to 112.9 metres.
Hole JP-07-26 intersected 0.22 g/t gold from 74.96 to 76.41 metres.. Hole
JP-07-27 intersected 0.49 g/t gold from 47.76 to 48.9 metres downhole.
    These intersections now corroborate the existence of an at least 650
metre long northwest-striking prolongation of the No. 1 gold quartz vein
system, whose established gold potential invites further testing.
    Stage 3 of the Jeep Project 2006-7 drill program targeted 1) the vicinity
of the historic underground workings of the No. 3 gold-bearing quartz vein,
approximately 140 metres northeast of the Jeep main shaft area parallel to the
No. 1 vein, and 2) a significant palladium anomaly located 160 metres
southwest of the Jeep No. 1 vein.
    Holes JP-07-28, -29 and -30 targeted the No. 3 vein system at depth and
down dip of the main stope of the historical workings, as determined from
historical records by in-house modeling conducted by Wildcat staff. All holes,
collared at a -55 dip, intersected the No. 3 vein. Hole JP-07-28 intersected
significant gold mineralization of 32.37 gpt gold over 0.32 metres from 86.67
to 86.99 metres downhole. An additional zone was intersected from 94.5 to
95.15 metres down hole which assayed 0.91 g/t gold. No significant assays were
intersected in holes JP-07-29 and JP-07-30.
    All widths reported are apparent widths and not true widths.
    Hole JP-07-31 targeted a palladium MMI soil anomaly 450 metres south of
the Jeep Mine shaft. No significant assays were returned from hole JP-07-31.
    Stage 4 of the Jeep Project 2006-7 drill program targeted an MMI soil
arsenic anomaly in an area 750 metres southeast of the Jeep mine shaft and
along trend of the No. 1 vein. Samples have been submitted and assays are
    Wildcat's 2006-7 exploration program on the Jeep Property is being
managed by Tim Tuba, P.Geo. and Peter Theyer, P.Geo.; both are Qualified
Persons as defined by NI 43-101. Technical and GEMS support was performed by
Sasha Herwig, B.Sc.Hons. Geology. Drill cores were cut in half using a diamond
saw, with one-half placed in sealed bags and shipped to TSL Labs in Saskatoon,
Saskatchewan. A sample quality control/quality assurance program has been
implemented. 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. For further information on the
Company please visit our website at www.wildcat.ca or contact us at

    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. All statements,
other than statements of historical fact, included in this release, including,
without limitation, statements regarding potential mineralization and
reserves, exploration results, and future objectives and plans of the Company,
are forward looking statements and as such 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. Important factors that
pertain to the risks and uncertainties associated with the Company's business
are discussed more fully in the Company's disclosure documents filed from time
to time with the Canadian securities regulators. 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, Wayne Stebbe, Vice
President Investor Relations, e-mail: w.stebbe@wildcat.ca, Phone: (204)
944-8916, Fax: (204) 944-8918

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