WINNIPEG, MANITOBA--(Marketwire - July 27, 2010) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to announce that, subject to regulatory approval, it intends to close a non-brokered private placement of Units to raise gross proceeds of up to $250,000. Each Unit, to be issued at a price of $0.07, consists of one flow through common share and one-half of one share purchase warrant, with each full warrant entitling the holder to acquire a non-flow through common share of the Company at a price of $0.14 per share during the 18 month period following closing. Pursuant to the private placement, up to 3,571,428 Units will be issued on closing.

The proceeds of the private placement will be used for the Company's exploration projects including its gold projects in the Rice Lake greenstone belt, near Bissett, Manitoba and the Reed Lake base metal and platinum group elements project in the Flin Flon–Snow Lake greenstone belt of Manitoba.

The Company may pay cash finders' fees of up to 5% of the gross proceeds raised from the sale of Units and may issue a total of up to 178,571 finders' warrants to purchase common shares on terms identical to those of the warrants contained in the Units.

All securities distributed pursuant to the private placement are subject to a hold period of four months following closing.

Subject to regulatory approval, Wildcat has granted incentive stock options to purchase up to 2,000,000 common shares of the Company to certain directors, officers, employees and consultants of the Company under its stock option plan. The options are exercisable for a five year period at an exercise price of $0.10 per share, with one half of the options vesting immediately and one half vesting on the first anniversary of the grant date.

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).

Source: Wildcat Exploration Ltd.

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.