Wildcat Reports Private Placement to San Gold following Completion of Share Consolidation

Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to announce that, subject
to regulatory approval, it has completed a non-brokered private placement of
shares to San Gold Corporation ("San Gold") for proceeds of $250,000, pursuant
to renewal of the option of three properties in the Rice Lake gold camp to San
Gold (see news release August 30, 2012). 


The option agreement with San Gold provides for private placements of $250,000
as part of the consideration for annual renewal (see news release dated August
10, 2011). The shares issued to San Gold were priced at $0.20 per share.  


Wildcat's Jeep, Mike Power and Poundmaker properties are under option to San
Gold whereby San Gold can earn an 80% interest in the properties by carrying out
$5.1 million of exploration expenditures over 4 years and making cash payments
of $1 million in total and subscribing to $1 million of Wildcat shares. The
current private placement completes the requirements for the renewal of the
option for a second year. 


Commenting on the renewal of the option, Tom Lewis, Wildcat's V.P. Exploration,
said, "Recent discussions with San Gold on the exploration approach for our
properties near San Gold's mining operations have been productive and we look
forward to the results of this winter's aggressive drilling program." 


The private placement follows completion of the share consolidation on the basis
of twenty old common shares for each new common share, previously approved by
Wildcat's shareholders (see news release dated November 9, 2012). The exercise
price and number of common shares issuable under any of Wildcat's outstanding
warrants and options are proportionately adjusted upon the consolidation. The
consolidation has been approved by the TSX Venture Exchange (the "Exchange") and
it is anticipated that the new common shares will start trading on the Exchange
on the date of this release, Friday December 7, 2012.


About Wildcat 

Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base
metals in Canada. Its portfolio includes: (1) the Jeep, Mike Power and
Poundmaker gold properties under option to San Gold Corporation, together with
two additional gold exploration properties in the Rice Lake greenstone belt in
Manitoba, (2) the McVicar gold property in the Uchi subprovince of Ontario, (3)
the Reed Lake base metal property in the Flin Flon-Snow Lake greenstone belt in
Manitoba, (4) the Burntwood property in the Thompson Nickel Belt in Manitoba and
(5) the Foster zinc-lead-silver property 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. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Wildcat Exploration Ltd.
John Knowles
President & CEO
(204) 944-8916
info@wildcat.ca
www.wildcat.ca


CHF Investor Relations
Cathy Hume
CEO
(416) 868-1079 ext. 231
cathy@chfir.com

Wildcat Exploration Ltd. (TSXV:WEL)
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