Monday, February 4, 2008

WINNIPEG, MANITOBA - Wildcat Exploration Ltd. (WEL: TSX-V) (Wildcat) today announced it has entered into an option agreement with Marum Resources Inc. (TSXV:MMU) (Marum) that provides Marum with the right to earn up to a 100% interest in a Wildcat property (the "Property”) in the Saxton Lake area of the Rice Lake greenstone belt, west of Bissett, Manitoba.

The Property comprises 72 contiguous claims covering 12,176 hectares of Wildcat's Poundmaker property. Wildcat will retain 26 claims covering 3,398 hectares in the southeast quadrant of the Poundmaker property, where it is currently exploring gold targets located on the Mike Power grid, which straddles the Gold Creek shear zone.

Marum, a Calgary-based mineral exploration company, will incur exploration expenditures of $5 million on the Property during the five year term of the agreement. Marum will also pay consideration consisting of cash or, at Wildcat's option, cash plus shares of Marum. The cash payments to Wildcat over the term of the agreement will be not less than $325,000, to a maximum of $575,000, depending on Wildcat's annual election to replace up to $50,000 per year in cash payments with Marum shares having a market value of twice the amount of foregone cash payment.

After Marum has spent at least $4 million on exploration, Wildcat can elect to retain up to 35% participating interest on a go-forward basis. As an alternative to participation, Wildcat will hold a 2% net smelter royalty in the Property.

"By motivating $5 million of exploration work on the Property, this agreement provides Wildcat with additional leverage to our gold and PGE exploration programs currently underway in the under-explored historical Rice Lake mining area," said John Knowles, President and Chief Executive Officer. "In addition, Wildcat's right to retain a participating interest allows us to have a meaningful position in any significant discovery on the Property."

Wildcat has been successful in building a strategic portfolio of promising exploration properties. The Company continues to work aggressively on its various projects and to evaluate advanced Canadian exploration acquisition opportunities.

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The fold at Horsehoe lake refered to in the SKP information is on WEL's Mike power grid.... SKP has chosen to not reviel that bit of info.

http://www.strikepointgold.com/Corporate-Presentation.html