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Friday, August 06, 2010

Investorideas.com - Gold Stocks; Wildcat Exploration Ltd. (TSX-V:WEL) Closes Private Placement

Investorideas.com - Gold Stocks; Wildcat Exploration Ltd. (TSX-V:WEL) Closes Private Placement


Winnipeg, Manitoba - August 6, 2010 (Investorideas.com Mining Stocks Newswire) - Wildcat Exploration Ltd. (TSX-V:WEL) is pleased to announce that having received final acceptance from the TSX Venture Exchange, it has completed its previously announced private placement of Units. Pursuant to the private placement, gross proceeds of $250,000 were raised and 3,571,428 Units have been issued on closing. Each Unit, issued at a price of $0.07, consists of one flow-through common share and one half of one common share purchase warrant, with each full warrant entitling the holder to acquire an additional non flow-through common share of the Company at a price of $0.14 per share during the 18 month period following closing.


The proceeds of the private placement will be used for eligible exploration expenditures on the Company's gold and base metal projects including its gold projects in the Rice Lake greenstone belt, near Bissett, Manitoba, the Reed Lake copper and platinum group elements project in the Flin Flon-Snow Lake greenstone belt of Manitoba, and its Foster River zinc lead silver project in Saskatchewan.


No finders' fees were paid in connection with the financing. All securities distributed pursuant to the private placement are subject to a hold period of four months from the date of closing.


About Wildcat Exploration Ltd.
Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base metals in Canada. Its portfolio includes: (1) several precious metal properties in the Rice Lake greenstone belt in Manitoba, (2) the Reed Lake base metal and PGE property in the Flin Flon greenstone belt in Manitoba and (3) the Foster River zinc-lead-silver project in Saskatchewan. As the Company builds its property portfolio, Wildcat welcomes proposals from owners of advanced Canadian exploration properties.
For further 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).


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 "believes", "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.. 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.



Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.
Contact:


John KnowlesWildcat Exploration Ltd.President CEO(204) 944-8916(204) 944-8918 (FAX)


Suite 203, 1780 Wellington AvenueWildcat Exploration Ltd.Winnipeg, Manitoba, R3H 1B3 info@wildcat.cawww.wildcat.ca
Source: Wildcat Exploration Ltd.
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