WINNIPEG, MANITOBA--(Marketwire - Sept. 16, 2009) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to announce that results from channel sampling being conducted on the Company's 100% owned Jeep property, located 13 km east of Bissett, Manitoba in the Rice Lake greenstone belt, has returned high grade gold, associated visible gold, and elevated silver values on the newly discovered Number 2 Showing (see Press Release July 8, 2009).

All samples collected from the Number 2 Showing contained elevated gold and silver concentrations with channel sample JP 17218 returning 9.60 g/t gold and 0.8 g/t silver across 0.86 metres. A total of 50 samples have been analyzed, covering 40 meters of the center portion of 70 meters of structure exposed to date. The structure is open along strike, and sampling is continuing in both directions along strike. Additional results will be announced as they become available.

The sampling consisted of 16 channel samples, cut at approximately 2.5 m intervals, with two representative grab samples collected between each channel sample. The channel samples, which varied between 0.41 metres to 1.35 metres in length, were collected using a gas powered rock saw to crosscut the mineralized shear zone. Axes and rock hammers were used to tap out the rock between the two parallel cuts leaving a channel in the outcrop. Rock of the sheared and mineralized zone formed the main portion of the cut sample, however, owing to the nature of a channel cut a minor part of variable length of the unaltered wallrock was generally included in the sample material.

The structure consists of a well and sharply defined ductile shear zone ranging from 8 cm to 81 cm thickness with generally abrupt and sharp boundaries to the hostrock that consists of massive, unaltered leuco- to mesogabbro. The shear zone, largely composed of chlorite schist, hosting quartz veins and quartz pods is derived from the gabbroic hostrock as evidenced by the common occurrence of intensely altered, partially comminuted gabbroic pods and remnants contained in the fabric of the shear. Quartz in the shear zone occurs as mm- to cm- thick milky white to translucent decimetre- long veinlets, pods and pebble-shaped inclusions. Sulphide mineralization, largely restricted to the shear zone, consists of disseminated pyrrhotite ranging from trace to 15% and of traces of arsenopyrite and pyrite.

Commenting on the results, John Knowles, CEO, said: "These results, coupled with data from historical drill intersections in the vicinity of the recently sampled area, indicate to us that the Number 2 Showing could be the expression of one or more high grade gold veins at shallow depth. The current program is proving to be a very cost effective means of adding to the inventory of gold bearing structures on the Jeep property. With excellent results like this, our winter drill program will include targets to explore this new structure down-dip. As information from the other gold showings in the area is analyzed we will continue to re-assess our initial drilling plans."

Wildcat is continuing its work on the Jeep property, and assay results from the Number 1 and Number 3 showings will be released as they are received from the laboratory and analyzed.

Gold Showing Number 2 Surface Sampling Assay Results

                   Channel Length
Channel Samples                (m)   Gold (g/t)   Gold (oz/t)   Silver (g/t)
----------------------------------------------------------------------------
JP17206                      0.51         0.37          0.01            1.4
JP17209                      1.35         1.52          0.04            1.4
JP17212                      0.91         0.71          0.02            1.7
JP17215                      1.09         2.26          0.07            1.5
JP17218                      0.86         9.60          0.28            0.8
JP17223                      0.94         1.89          0.06            1.4
JP17226                      0.58         1.41          0.04            1.0
JP17229                      0.56         0.18          0.01            1.1
JP17232                      0.48         0.38          0.01            1.1
JP17235                      0.48         0.33          0.01            1.2
JP17238                      0.53         1.26          0.04            1.3
JP17241                      0.69         0.26          0.01            1.2
JP17244                      0.41         0.40          0.01            1.1
JP17247                      0.94         0.46          0.01            1.6
JP17250                      0.56         0.75          0.02            1.7
JP17253                      1.32         1.12          0.03            1.3

                                          Gold          Gold         Silver
Grab Samples                              (g/t)        (oz/t)          (g/t)
----------------------------------------------------------------------------
JP17204                                   7.99          0.23            2.0
JP17205                                   2.18          0.06            1.6
JP17207                                  16.67          0.49            9.9
JP17208                                   0.09          0.00            1.3
JP17210                                   0.04          0.00            1.3
JP17211                                  16.67          0.49            2.3
JP17213                                   1.35          0.04            1.4
JP17214                                   0.16          0.00            1.4
JP17216                                    8.5          0.25            2.1
JP17217                                  20.06          0.59            2.3
JP17219                                   5.66          0.17            0.6
JP17220                                   2.46          0.07            1.7
JP17221                                   4.22          0.12            1.3
JP17222                                   0.79          0.02            1.3
JP17224                                   1.31          0.04            0.2
JP17225                                   1.69          0.05            1.2
JP17227                                   4.25          0.12            1.3
JP17228                                   0.42          0.01            0.6
JP17230                                   0.21          0.01            1.2
JP17231                                   0.28          0.01            1.2
JP17233                                   1.18          0.03            1.2
JP17234                                   5.14          0.15            1.9
JP17236                                   7.48          0.22            2.5
JP17237                                   1.14          0.03            1.3
JP17239                                   0.08          0.00            0.8
JP17240                                   0.02          0.00            0.8
JP17242                                   0.05          0.00            1.1
JP17243                                   0.33          0.01            1.1
JP17245                                   0.17          0.00            1.4
JP17246                                   0.38          0.01            1.9
JP17248                                   1.77          0.05            2.6
JP17249                                   0.09          0.00            1.2
JP17251                                   2.43          0.07            1.7
JP17252                                   8.57          0.25            2.0
JP17254                                   9.29          0.27            2.0

Historic (1949) DDH Intersections in Gold Showing 2

                               Approx.
Hole      From               Vertical
#           (m)    To (m)    Depth (m)   Length (m)  Gold (g/t)  Gold (oz/t)
----------------------------------------------------------------------------
J71      29.56     29.87           22         0.31       trace         0.00
         29.87      30.4           22         0.53        1.03         0.03

----------------------------------------------------------------------------
J72      28.73     29.03           22          0.3       trace         0.00
         29.03     29.18           22         0.15        2.06         0.06
         29.18     29.57           22         0.39       trace         0.00
         29.57     30.25           22         0.68         1.7         0.05

----------------------------------------------------------------------------
J74      29.11     29.34           23         0.23       trace         0.00

----------------------------------------------------------------------------
J75      29.87     30.18           21         0.31        2.06         0.06
         30.86     31.17           21         0.31       37.03         1.08

----------------------------------------------------------------------------
J77      26.67     26.82           19         0.15       15.77         0.46
         26.82     26.97           19         0.15       trace         0.00

----------------------------------------------------------------------------
J78      46.56     46.86           40          0.3        0.69         0.02
          47.4     47.63           40         0.23        1.71         0.05
         68.28      68.5           58         0.22        0.69         0.02
         92.96     93.04           79         0.08        1.71         0.05
        101.42    101.57           87         0.15        0.69         0.02

----------------------------------------------------------------------------
J79      21.87      22.1           17         0.23        1.03         0.03
          28.8     29.03           22         0.23        0.69         0.02
         61.49     61.87           47         0.38        8.23         0.24

All samples were submitted to TSL Laboratories Inc. in Saskatoon, Saskatchewan, an ISO 17025 accredited assay lab, which uses standard industry practices for sample preparation and analysis. Wildcat's exploration program is managed by Peter Theyer, P.Geo, a Qualified Person as defined by NI 43-101, who has reviewed all technical information in this release.