Wildcat Mobilizes to Foster River Zinc Project

    WINNIPEG, Aug. 7 /CNW/ - Wildcat Exploration Ltd. (WEL: TSX-V) has
mobilized an exploration team to its Foster River zinc property north of La
Ronge, Saskatchewan.
    The Foster River property, covering 11,800 hectares, contains Broken Hill
type ("BHT") zinc mineralization and has geological characteristics similar to
the Broken Hill deposit, a major lead-zinc-silver deposit in Australia.
    The Company's field crew has commenced a surface exploration program,
including geological mapping, sampling and prospecting. This work will help to
establish the existence of mafic volcanics located footwall to the
mineralization. Mafic volcanics associated with BHT deposits serve as
providers of large amounts of metals to the ore-forming hydrothermal system
and as a heat source to drive large volumes of metal laden fluids to the sites
of ore deposition. Work will also focus on outlining the extent of the
alteration halo and meta-exhalite layers associated with the mineralization
and assessing their potential to target prospective sites of zinc
    These investigations are part of a three year program scheduled to run
from 2007 through 2009, developed for the Company by Dr Paul Spry, Ph.D. of
Iowa State University, a recognized authority on Broken Hill type deposits.
    In addition to the investigation program, Wildcat is currently planning a
minimum 1500 meter winter drill program in the Fable Lake area of the
property. This initial phase of drilling by the Company is intended to extend
the strike and width of known mineralization and to outline new mineralization
in this area. Drilling will also test the significant soil anomalies that were
found in the mobile metal ions survey conducted earlier this year along the
Fable Lake mineralized horizon (See the Company's news release of April 24,
    This winter, Wildcat also intends to conduct an airborne geophysical
survey over the northern portion of the property, on claims recently staked
during the summer of 2006. The survey will encompass the northeast extension
of the mineralized trend along which most of the Foster River property
zinc-lead showings occur.
    All technical information in this release has been reviewed by Tim Tuba,
P.Geo. as the Qualified Person on behalf of Wildcat.

    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. In building its
property portfolio, Wildcat welcomes proposals from owners of advanced
Canadian exploration properties.
    For more 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).

    John Knowles
    President and CEO

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

    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: Wayne Stebbe, Vice President, Investor
Relations, w.stebbe@wildcat.ca, Suite 203, 1780 Wellington Avenue, Winnipeg,
Manitoba, R3H 1B3, Phone: (204) 944-8916, Fax: (204) 944-8918

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