Wildcat Exploration Extends Option of Burntwood Project in Thompson Nickel
WINNIPEG, MANITOBA -- (Marketwired) -- 04/09/14 -- Wildcat
Exploration Ltd. (TSX VENTURE: WEL) is pleased to announce that it
has agreed with Anglo American plc to extend, by one year, the
remaining exploration expenditure completion dates under Wildcat's
option of the Burntwood property.
Expenditures to date, for purposes of the option agreement with Anglo
American, have exceeded the $600,000 requirement. The revised
requirements are for a further $400,000 of expenditures by March 31,
2015, and $500,000 by each of March 31, 2016 and March 31, 2017. By
completing the required expenditures, Wildcat will earn a 100%
interest in the property, subject to Anglo American's right to earn
back a 65% interest by completing a pre-feasibility study on the
In 2012, Wildcat's drill hole TB 2011-02 intersected 152.5 g/tonne
gold over 1 m (core length) from 125.9 m to 126.9 m. To date, no
further drilling has been done in relation to this significant
intersection. In addition, nickel-copper drill targets in Opswagan
rocks of the Thompson Nickel Belt, identified by Anglo American,
remain untested and drill ready. Follow-up drilling is awaiting
funding or partnership arrangements.
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. In addition,
Wildcat is the manager of the Wildcat - Doe Run Canadian Exploration
Alliance which explores in Canada for base metal deposits.
For further information on Wildcat, please visit www.wildcat.ca.
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.
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.
Wildcat Exploration Ltd.
President & CEO
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