Wildcat Increases Size of Private Placement

    WINNIPEG, Oct. 4 /CNW/ - Wildcat Exploration Ltd. (WEL: TSX-V) ("Wildcat"
or the "Company") is pleased to announce that due to excess demand, the
Company will increase the size of its non-brokered private placement (the
"Private Placement") previously announced August 21, 2007, subject to
regulatory approval.
    The Company had previously received conditional regulatory approval for
the Private Placement of up to 2,800,000 flow-through common shares
("Flow-Through Shares") at a price of $0.25 per share, and up to 1,500,000
non-flow-through common shares ("Non Flow-Through Shares") at a price of $0.20
per share, for gross proceeds of up to $1,000,000. Due to oversubscription of
the Private Placement, the Company will seek conditional regulatory approval
for the Private Placement of up to an additional 3,800,000 Flow-Through Shares
and up to an additional 750,000 Non Flow-Through Shares for additional gross
proceeds of up to $1,100,000.
    Subject to final regulatory approval, the Company is to pay cash finders'
fees of 5% of the gross proceeds raised from the Private Placement and to
issue non-transferable finders' warrants to purchase such number of common
shares (some of which may be issued on a flow-through basis) as is equal to 5%
of the number of Flow-Through Shares and Non Flow-Through Shares sold under
the Private Placement. The finders' warrants will have an exercise price of
$0.25 per share and are to be exercisable for one year.
    Proceeds from the sale of the Flow-Through Shares will be used for
exploration in the Company's projects in Canada and the proceeds from the sale
of the Non Flow-Through Shares will be used for working capital purposes.

    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.

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

    For further information on the Company please visit our website at
www.wildcat.ca or contact us at info@wildcat.ca. The Company's public filings,
including its most recent audited consolidated financial statements, can be
reviewed on the SEDAR website (www.sedar.com).

    This news release may contain "forward-looking information", within the
meaning of applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements with respect to
Wildcat's exploration program and plans. Generally, forward-looking
information can be identified by the use of forward-looking terminology such
as "plans", "seeks", "expects", "budget" or variations of such words or
statements that certain actions, events or results may, could, will, will be,
would be or are expected to be. Forward-looking information is subject to
known and unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of Wildcat to
be materially different from those expressed or implied by such
forward-looking information, including risks associated with the mineral
exploration and mining industry such as economic factors, government
regulation and approvals, environmental risks, success of exploration
activities, future commodity prices, capital expenditures, requirements for
additional capital, changes in project parameters as plans continue to be
refined, conclusions of economic evaluations, the Company's history of
operating losses and uncertainty of future profitability. 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 and available on
www.sedar.com. Although Wildcat has attempted to identify important factors
that could cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on forward-looking
information. Wildcat does not undertake to update any forward-looking
information, except in accordance with applicable securities laws.
    %SEDAR: 00014885E

For further information:

For further information: Wildcat Exploration Ltd., Wayne Stebbe, Vice
President, Investor Relations, info@wildcat.ca, Suite 203, 1780 Wellington
Avenue, Winnipeg, Manitoba, R3H 1B3, Phone: (204) 944-8916, Fax: (204)

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