Winnipeg, Manitoba; January 18, 2010

Wildcat Exploration Ltd. (WEL: TSX-V) announces that drilling is scheduled to commence on or around January 22, 2010, on the Company’s 100% owned Jeep project, 14 kilometres east of Bissett, MB. The Jeep Property (4,016 ha) hosts the past producing Jeep mine with historical production of approximately 18,000 tons of ore at an average gold grade of 0.78 oz/ton (non 43- 101).

Targets of the planned 2,500m drill program include:

1. Downplunge extensions of recent (summer 2009) surface discoveries of gold bearing structures located within a 500 m radius of the Jeep mine shaft.
2. Extensions of gold intersections from Wildcat’s past drill programs.
3. Potential downplunge extension of the historical #1 vein below the underground mine workings.

Prior work by the Company has included an airborne electromagnetic and magnetometer survey, a mobile metal ion survey, induced polarization survey and 10,945 m of drilling (45 holes) completed during the 2006-2008 seasons. The drill programs intersected gold and anomalous copper-nickel-platinum group elements concentrations along a 2.2 kilometre trend, striking from the mine shaft area to the SE, along an azimuth of 110º.

John Knowles, Wildcat’s CEO, says, “This program has been planned by our geological team under the leadership of Wildcat’s newly-appointed V.P. Exploration, Tom Lewis. It marks the first Wildcat program of 2010 and will be funded from our recent, well-received flow through financing.”

About Wildcat Exploration Ltd.

Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base metals in Canada. Its portfolio includes: (1) several precious metal properties in the Rice Lake greenstone belt in Manitoba (2) the Reed Lake base metal and PGE property in Snow Lake area of Manitoba and (3) the Foster River zinc-lead project in Saskatchewan. As the Company builds its portfolio, Wildcat welcomes proposals from owners of advanced Canadian exploration properties.

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.

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.

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. There can be no assurance that such statement 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.