Wildcat Exploration Ltd. - Drill Turning - Poundmaker & Siderock Gold Properties - Bissett Gold Camp

2006-01-09

TSXV - TSX Venture Exchange · Gold · Silver · Copper · Lead · Zinc · Bismuth · Canada

WINNIPEG, Jan. 9 /CNW/ - Wildcat Exploration Ltd. ("Wildcat") (TSX-V: WEL) announces the commencement, today, of a diamond drill program to be conducted in the Bissett gold mining camp. A minimum 2500 meter drill program will be carried out on the Poundmaker and Siderock properties. On the Poundmaker property drilling will target four areas including: the Poundmaker deposit, Liberty showing, a mineralized fault on the Mike-Power grid and geochemical targets associated with a regional fold south of Wanipigow Lake.

a) The on-strike and depth potential of near surface, high-grade gold mineralization encountered at the Poundmaker deposit in previous drilling by Wildcat will be tested. At the Poundmaker deposit historical underground development has extracted small tonnage but high-grade gold. b) Preliminary drilling will examine the controls on high-grade gold mineralization discovered at the Liberty showing during the 2005 field work. The Liberty showing is located along the Saxton Lake fault zone, a highly prospective shear zone that has received minimal drilling. c) On the Mike-Power grid drilling will test a MMI geochemical anomaly along the Gold Creek fault. The Gold Creek fault is the western extension of the Normandy Creek fault a strongly altered shear hosting gold mineralization currently being readied for underground production by the Rice Lake Gold Corporation. d) Lastly drilling will test MMI geochemical anomalies located along a sheared and ankerite altered limb of a regional fold south of Wanipigow Lake.

The current drill program will not examine the Rio Gold Zone, a new gold discovery made by Wildcat on the Poundmaker property late in the 2005 field season (Press Release September 23, 2005). Drilling on this zone will commence early in the fall of 2006 after company geologists have had an opportunity to assimilate basic geological parameters controlling mineralization. On the Siderock property the present drill program will pick up where the last drill program stopped. In 2005 preliminary drilling tested several targets on the Portage Gold Zone - a new discovery made by Wildcat in 2004 (Press Releases July 27 and October 4, 2004). Drilling encountered anomalous gold mineralization in six of eight drill holes. The current program will target encouraging gold intercepts encountered in the 2005 drilling and new MMI geochemical anomalies identified from the 2006 summer work program. The Portage Gold Zone comprises gold mineralization (grab sample assays up to 0.67 oz/ton), found in altered and sheared felsic volcanic- volcaniclastic rocks intruded by silicified quartz-feldspar porphyry dikes. Gold mineralization and alteration on the Portage Gold Zone is bounded by the Siderock Lake fault to the north and by a major crustal "break", the Wanipigow fault, to the south. The Wanipigow fault is a structure similar to the Porcupine-Destor and Larder-Cadillac "breaks" in the Timmins and Kirkland Lake gold camps respectively. The Siderock property hosts a geological environment including age, rock composition, alteration and deformation similar to that underlying the Red Lake gold deposits. This represents a new geological model for the deposition of potentially important gold mineralization in the Bissett gold camp. Wildcat will plan, implement and manage the exploration program with Eduard Sawitzky, P. Geo. as the Qualified Person.

About Wildcat Exploration

Wildcat is a Winnipeg-based mineral exploration company actively exploring for gold and base metals in Canada. The company has six properties in Manitoba and Saskatchewan. Currently exploration is being conducted aggressively in the Bissett gold mining camp, southeast Manitoba. Wildcat has consolidated the largest under-explored land holdings (230 square kilometers) in the Bissett camp. For further information on the company please visit our website at www.wildcat.ca or contact us at info(at)wildcat.ca.

On behalf of the Board

"Eduard Sawitzky"

President and COO

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