Winnipeg, Manitoba; June 23, 2009
Wildcat Exploration Ltd. (WEL: TSX-V) is pleased to announce that, subject to
final regulatory approval, it intends to close a non-brokered private placement of Units to raise gross proceeds of
$150,000. Each Unit, to be issued at a price of $0.05, consists of one common share and one share purchase warrant
entitling the holder to acquire an additional common share of the Company at a price of $0.15 per share during the 12
month period following closing. Pursuant to the private placement, 3,000,000 Units will be issued on closing.

The proceeds of the private placement transaction will be used for general corporate purposes in support of the
Company’s exploration projects including its gold projects in the Rice Lake greenstone belt, near Bissett, Manitoba, the
Reed Lake base metal and platinum group elements project in the Flin Flon–Snow Lake greenstone belt of Manitoba,
and its Foster River zinc lead silver project in Saskatchewan.

The Company will pay cash finders’ fees of up to 5% of the gross proceeds raised from the sale of Units and will issue
finders’ warrants to purchase common shares on terms identical to those of the warrants contained in the Units, in an amount that is up to 5% of the number of Units sold.

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

About Wildcat Exploration Ltd.

Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base metals in Canada. Its portfolio
includes: (1) the Foster River zinc project in Saskatchewan, (2) three gold properties and one gold and platinum group
element (PGE) property in the Rice Lake greenstone belt in Manitoba, and (3) two base metal and PGE properties in the
Snow Lake area of Manitoba. As the Company badvanced Canadian exploration properties.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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.
John Knowles, President CEO
Suite 203, 1780 Wellington Avenue
Winnipeg, Manitoba, R3H 1B3
Phone: (204) 944-8916
Fax: (204) 944-8918

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. Important factors that pertain to the risks and uncertainties associated with the Company's business are
discussed more fully in the Company's disclosure documents filed from time to time with the Canadian securities
regulators and available on www.sedar.com. Although Wildcat has attempted to identify important factors that could
cause actual results to differ materially from those contained in forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended. 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.