Reed Lake Property

Property Description
The Reed Lake property is comprised, of 32 claims covering 6,051 hectares located along the entire west side of Reed Lake.
As a result of geological traverses in the summer of 2007 the Company determined that the Reed Lake property is underlain by three distinct geological environments arranged from south to north as follows: a) a layered mafic ultramafic intrusive complex prospective for copper, nickel, and PGE; b) a more massive mafic ultramafic rock suite, with outcrops characterized by abundant malachite (copper carbonate) staining and c) felsic to intermediate volcanic rocks that are prospective for hosting copper zinc volcanogenic massive sulphide zones prevalent in the district.
The first environment, the Reed Lake intrusion, is a differentiated, layered intrusion of tholeiitic composition. Mafic rocks dominate the stratigraphic sequence and are interlayered with ultramafic rocks in the lower portion of the intrusion. The layers trend south and dip subvertically to steeply east. The intrusion faces west and is bound to the west and east by major shear zones.
Anomalous PGE (and locally gold) concentrations cluster along a north-south trend associated with layered ultramafic rocks of the central to lower portion of the Reed Lake intrusion. Combined Pt and Pd concentrations range from 50 ppb to 273 ppb in this zone.
The second distinct environment occurs north of the layered portion of the Reed Lake intrusion. This is a poorly differentiated and layered mafic magmatic complex that may be a separate intrusion and/or a precursor or feeder to the Reed Lake layered intrusion. These rocks are characterized by significant alteration, evidence of copper-bearing mineralization and anomalously elevated PGE and gold concentrations.
The third environment, in the northern third of the property, was the subject of a helicopter-borne EM and Mag survey which highlighted two conductive northeast-trending elongated zones, each characterized by varying conductive and magnetic properties. Both zones dip westerly at their northern end, switching to an easterly dip in their southern portion. The survey results, together with recent discovery successes on properties adjoining the western claim boundary (Cream Minerals Ltd.: 20.93 m of 1.3% Ni; 2.27% Cu; July 19, 2007) and the northern claim boundary (Rockcliff Resources Inc.: 5.49 metres: 2.14% Cu; 2.08% Zn; December 19, 2007), indicate the potential for a trend of base metal mineralization across the northeast quadrant of the Company's property.

Activities in 2008

Southern Reed Lake Area (Transect)
The “transect” is a west-striking cut and picketed line, approximately 4.5 km long, that cross cuts (transects) the southern, layered and differentiated mafic ultramafic part of the Reed Lake intrusion. Wildcat commissioned an IP survey on this transect in the spring of 2008. Terrain and weather conditions forced the Company to suspend the survey after completing 1,750 m, less than half of the entire transect. In the area examined, the survey detected thirteen IP anomalies that were characterized by the Company’s geophysical contractor as ranging from “strong” to “extremely strong”.
Activities Contemplated for the Future
With the expected configuration of the targets (narrow width, low sulphide concentrations) hosted by a geophysically complicated rock assemblage featuring waterlogged shears and abundant magnetite-rich layers, IP is challenged because these features could return anomalies that resemble sulphide bearing layers. Wildcat intends to continue exploration of these anomalies with caution. The terrain features lichen covered outcrops interrupted by shallow swamps and bogs overgrown by ubiquitous black spruce, and Wildcat intends to undertake a biogeochemical survey using black spruce bark and twigs as the sampling media along the transect.
Biogeochemistry using spruce trees as sampling media in search of PGE has a successful history in Canada and, in the case of the transect, it could overcome the difficulty of properly evaluating areas concealed by swamps.
A decision to complete the IP survey across the entire length of the transect, which might require helicopter support, is dependent on the results the evaluation of the biogeochemical survey. PGE – bearing layers in other mineralized layered intrusions may be as narrow as 1 metre or less, and therefore further ground work consisting of careful scrutiny of available outcrops will be undertaken. This part of the property evaluation will be complemented with further detailed IP surveys to clarify the depth and configuration of the source of the anomalies. Drilling is expected to be recommended if PGE enriched biogeochemical anomalies coinciding with IP anomalies are identified.

Northern and Central Reed Lake Areas
An airborne DIGHEM survey was conducted over the northern Reed Lake claims in 2008 to detect potential mineralization and to provide information on the geology and structure of the underlying rocks. The DIGHEM survey defined complex magnetic anomalies with elongated northeast-trending magnetic highs as well as rounded magnetic lows. The Company’s geophysical consultant reviewed the results of this survey and provided information used to guide the field crew during their investigations.
Rocks underlying the northern Reed Lake area are heterogeneous and comprise gabbros, mafic, intermediate, and felsic volcanic rocks. A zone characterized by a magnetic high, striking northeast from the “Wine” prospect of Cream Minerals Ltd., was found to be underlain by largely gabbroic rocks. This location was highlighted by the geophysical survey and consists of largely gabbroic rocks containing disseminated sulphides. It is also characterized by the results of an historic humus sampling survey that indicated anomalous Ni and Cu concentrations striking from Cream Minerals’ neighbouring property to Wildcat’s property. In addition, there is a potential for Cu/Zn mineralization in the form of VMS deposits similar to the “Rail” Cu-Zn-Au-Ag deposit located immediately north of the Wildcat’s Reed Lake claims.
During 2008 Wildcat discovered a mineralized shear zone in altered volcanic rocks on surface in the northeastern part of Reed Lake north, containing 1.58% Cu, 0.86 g/ton Au and 5.5 g/ton Ag, which encourages the Company to vigorously continue with the exploration of the Reed Lake North area.
Activities Contemplated for the Future
The Company plans to continue to focus on the significant mineral potential of the Northern and Central Reed Lake areas by extending its geological mapping and sampling. On the basis of positive results from this work, Wildcat will undertake the cutting of grids and follow up with ground geophysical surveys where warranted.