Wildcat Special Meeting of Shareholders Adjourned

    TSX-V Trade Symbol: WEL

    WINNIPEG, April 12 /CNW/ - Wildcat Exploration Ltd. announced today that
the Special Meeting of Shareholders, scheduled to commence at 10:00 a.m.
today, Thursday, April 12, has been adjourned until further notice.
    The adjournment is a result of a Manitoba court order sought by, and
granted to, the dissident shareholders yesterday, Wednesday, April 11. The
hearing was held without notice to Wildcat and Wildcat was not provided with
an opportunity to be represented at the hearing.
    Wildcat management is considering the order of the Manitoba court and as
contemplated by the order, will appear in court requesting variations to the
order. The Company will keep shareholders informed by the issuance of news
    The dissident shareholders sought the court order after the deadline had
passed for the filing of proxies for the Special Meeting. One of the
dissidents claimed he was unable to submit one of his proxies in time to meet
the deadline of 10:00 a.m. (Central time) on April 10, 2007. This proxy
deadline was disclosed in the Notice of Special Meeting of Shareholders, the
Management Information Circular of the Company and in the Company's form of
proxy, all of which were filed on SEDAR on March 12, 2007 and mailed to
shareholders on March 13, 2007.
    An earlier proxy deadline of 5:00 p.m. (Central time) on April 9, 2007
was also set by the dissident shareholders in the dissident circular and form
of proxy, which were filed on SEDAR on March 23, 2007. The dissident
shareholders reiterated this deadline in a news release, filed on SEDAR on
April 4, 2007.
    The Special Meeting of Shareholders was requisitioned by Yes Forex and
Mr. Prizant, the former President and CEO of Wildcat. The dissidents sought to
remove the existing Board of Directors of Wildcat and replace them with
directors nominated by the dissidents.
    "We're disappointed that shareholders were denied their right to speak
and vote at the meeting by the dissidents' last-minute legal manoeuvres," said
Jerrold Siemens, Chairman and Interim Chief Executive Officer of Wildcat. "It
is the shareholders who continue to pay the price for the dissidents' actions
and their inability to organize their affairs within the previously disclosed
rules of the meeting. They had a month to vote their shares and to ask for a
change to the Chair of the meeting, but did nothing until after the proxy
deadline had passed."
    "The Board will continue to focus on moving the Company forward while
protecting the rights and value of the Company for its shareholders. We remain
confident that, when the meeting is finally held, shareholders will reject the
dissidents' efforts to seize control of Wildcat," Mr. Siemens said.

    About Wildcat Exploration Ltd.

    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

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

    %SEDAR: 00014885E

For further information:

For further information: Shareholder Contact: Kingsdale Shareholder
Services Inc., Exchange Tower, Phone: 1-866-877-2571, Email:
contactus@kingsdaleshareholder.com; Media Contact: John Lute, Lute & Company,
Phone: (416) 929-5883, Email: jlute@luteco.com

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