Wildcat Reports Rice Lake, MB Drilling Update, Sets Shareholder Meeting
WINNIPEG, MANITOBA -- (Marketwired) -- 04/30/13 -- Wildcat
Exploration Ltd. (TSX VENTURE:WEL) is pleased to provide an update on
exploration at its Rice Lake, MB properties which are under option to
San Gold Corporation ("San Gold"). San Gold has reported to Wildcat
that, as of the end of March, 2013, a total of 4,420 metres of
drilling in nine holes had been completed on the Mike Power property,
located on the western boundary of San Gold's Bissett, MB properties
where it currently has mining operations and further drilling is
Assays are pending on the majority of holes, however San Gold
reported that logging of the drill core has confirmed an extensive
deformation zone at the base of the San Antonio Formation in the
vicinity of previous drilling by Wildcat (see news release March 23,
2011). Some of the drill holes awaiting assay results have
intersected quartz stockwork veins, sulfides (sphalerite,
chalcopyrite and pyrite) with associated widespread sericite
The core logging by San Gold Gold geologists has demonstrated the
presence of major regional shear zones and structural ground
preparation favourable to gold deposition. The results have shown the
usefulness of airborne magnetic surveys, as well as LIDAR (Laser
Imaging Detection and Ranging) surveys, both of which have been
employed by San Gold on the Mike Power property, as structural
mapping tools for gold exploration in the Rice Lake belt.
The limited results to date from extensive sampling by San Gold show
anomalous gold throughout most of the length of the drill core in all
holes within the major shear zones. Gold values have ranged from 50
to 550 parts per billion.
Tom Lewis, Wildcat's V.P. Exploration, commented, "San Gold's program
is designed to narrow the search for concentrations of high grade
gold and we are encouraged that they have intersected rocks with many
positive indicators, including alteration, ground preparation,
shearing, quartz stockworks, anomalous gold values and steel-grey
Drilling is continuing and San Gold has informed the Company that it
expects its program to extend through spring and summer months.
The Company also announces that it will hold its annual and special
meeting of shareholders on May 30, 2013 (the "Meeting"). The Company
has fixed April 30, 2013 as the record date for determining
shareholders entitled to receive notice of and to vote at the
The Meeting will include special business relating to the
ratification of an amendment to the Company's general by-law, By-law
Number 1 (the "Updated By-Law").
The Updated By-Law, which was approved by the Company's board of
directors, amends and restates the Company's current By-Law No. 1,
which relates generally to the conduct of the affairs of the Company.
The Updated By-Law includes a provision that requires advance notice
to the Company in circumstances where nominations of persons for
election to the board of directors are made by shareholders of the
Company other than pursuant to a requisition of a meeting made
pursuant to the provisions of the Corporations Act, Manitoba (the
"Act") or a shareholder proposal made pursuant to the provisions of
the Act (the "Advance Notice Requirement").
The Advance Notice Requirement fixes a deadline by which holders of
record of common shares of the Company must submit director
nominations to the Company prior to any annual or special meeting of
shareholders and sets forth information that a shareholder must
include in the notice to the Company for the notice to be in proper
In the case of an annual meeting of shareholders, notice to the
Company must be made not less than thirty (30) nor more than
sixty-five (65) days prior to the date of the annual meeting;
provided, however, that in the event that the annual meeting is to be
held on a date that is less than fifty (50) days after the date on
which the first public announcement of the date of the annual meeting
was made, notice may be made no later than the close of business on
the tenth (10th) day following such public announcement.
Notwithstanding the foregoing, with respect to the Meeting, any
notice delivered to the Company prior to the close of business on May
10, 2013 shall be deemed to have been timely delivered under the
Advance Notice Requirement.
In accordance with the Act, adoption of the Updated By-Law is subject
to ratification by shareholders at the Meeting. The full text of the
Updated By-Law is available on SEDAR at www.sedar.com.
Wildcat's exploration program is managed by Tom Lewis, P. Eng., a
Qualified Person as defined by NI 43-101, who has reviewed all
technical information in this release.
Wildcat Exploration Ltd. is a Winnipeg-based company exploring for
gold and base metals in Canada. It manages exploration on its own
properties in Ontario, Manitoba and Saskatchewan and has optioned
three properties in the Rice Lake Greenstone Belt of Manitoba to San
Gold Corporation, which is carrying out exploration programs. In
addition, Wildcat is the manager of the Wildcat - Doe Run Canadian
Exploration Alliance which explores in Canada for base metal
For further information on Wildcat, please visit www.wildcat.ca.
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.
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.
Wildcat Exploration Ltd.
President & CEO
CHF Investor Relations
(416) 868-1079 ext. 231
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