Wildcat Begins Market-Making and Reports on Recent Share Transactions

Wildcat Exploration Ltd. (TSX VENTURE:WEL) today reported that, further to the
engagement of CHF Investor Relations as previously announced on December 9,
2010, and subject to TSX Venture Exchange approval, CHF's Market Liquidity
Program has been initiated to improve liquidity.  


The Market Liquidity Program, more commonly referred to as market-making, will
be conducted through CHF Investor Relations' Calgary office using a registered
broker, Mackie Research Corporation, in compliance with Policy 3.4 of the TSX
Venture Exchange Corporate Finance Manual, IIROC's Universal Market Integrity
Rules & Policies (2010) and other relevant policies, so that trading orders in
the Company's shares are made to manage volatility and imbalance of orders to
improve liquidity. As per Policy 3.4, section 2.8 that states in part "an Issuer
may not use its own funds, or provide direct or indirect compensation to other
parties to undertake a market-making function in its securities," Wildcat and
CHF confirm that capital for the purposes of market-making has not and will not
be provided from Wildcat's treasury. 


CHF has had no direct or indirect interests in the Company or its securities
other than the options granted upon CHF's engagement (News Release December 9,
2010), and the terms of the contract for investor relations and market-making
services with CHF remain unchanged. 


Wildcat also today clarified that, although the TMX website (TMX.quotemedia.com)
has reported a large number of shares as sold by insiders of the Company in the
past week, the Company has canvassed its insiders and reports that none of its
directors, officers or any other parties known by it to be insiders have sold
Wildcat shares during the month of October.


About Wildcat 

Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base
metals in Canada. Its portfolio includes: (1) several gold projects in the Rice
Lake greenstone belt in Manitoba, (2) the McVicar gold property in the Uchi
subprovince of Ontario, (3) the Reed base metal and PGE project in the Flin
Flon-Snow Lake greenstone belt in Manitoba, (4) the Burntwood nickel project in
the Thompson nickel belt in Manitoba and (5) the Foster zinc-lead-silver project
in Saskatchewan. The Company seeks to continuously upgrade its property
portfolio through exploration and accretive transactions. 


Cautionary Note

No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.

Wildcat Exploration Ltd. (TSXV:WEL)
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