globeinvestor.com

News from CNW Group

Monday, March 01, 2004

WINNIPEG, March 1 /CNW/ - Wildcat Exploration Ltd. (TSX-VEN: WEL) announced final results of their 2003 summer activities. Between July 15 and September 30, 2003 Wildcat completed a geological mapping, sampling and prospecting program on their wholly-owned gold projects in the Bissett mining camp of southeast Manitoba.

The Siderock property, second largest of the Company's landholdings, comprises some 3899 hectares (13km by 3km). The property lies 26km east of the Bissett mine, a past producer with a 1.2 million ounce gold production history.

The Siderock property encompasses a geological environment similar to the Red Lake gold camp i.e. is underlain by rocks of Mesoarchean and Neoarchean age separated by an unconformity along which extensive shearing is accompanied by iron carbonate alteration. Mesoarchean assemblages contain komatiitic and mafic flows and iron formation. This geological environment has only recently been recognized and represents a new geological model for significant gold deposition for the Bissett mining camp (Rice Lake greenstone belt). Recent work by government geologists indicates that the geological model of gold deposition at Red Lake also applies to gold deposition in the Timmins and Kirkland Lake gold camps.

A priority exploration target for the 2004 field season on the Siderock property is the unconformity between Mesoarchean and Neoarchean rocks. Parallel to the unconformity is a major deformation (shear) zone with pervasive, disseminated and massive but patchy, iron carbonate alteration in a sericite schist containing locally significant quartz veining and pyritic mineralization. Limited sampling in 2003 along this horizon yielded geochemically anomalous gold; the major portion of the shear remains unexplored.

Along the southern boundary of the property gold mineralization was discovered in strongly altered (carbonated/silicified) and pyritic quartz stockwork pervading quartz porphyries. These porphyries intrude sericite schist of Neoarchean age, north of the Wanipigow fault - a regional structure controlling gold deposition in the Bissett gold camp. Porphyries are distributed along a minimum 1.5 kilometer strike length with gold assays obtained from the two "ends" of the trend. Gold from a porphyry from the east end (adjacent Siderock Lake) ran 1084 ppb over 1.4 meters. Porphyries from the west end (adjacent Wallace Lake) from historical grab samples yielded numerous gold assays ranging from trace to 0.5oz/ton. A large part of this trend remains unexplored because of thin overburden cover.

The northern part of the property is underlain by komatiitic and mafic flows and iron formation of Mesoarchean age. Cherts and sediments associated with the iron formation are reported to carry gold (government assessment files). Gold occurs in these rocks devoid of mesoscopic quartz veins. These sediments which are highly gossanous and difficult to prospect, represent a large exploration target with a strike length exceeding several kilometers.

Wildcat Exploration holds the largest exploration acreage in the Bissett mining camp covering some 216 square kilometers. The Bissett mining camp is located 100 kilometers north east of Winnipeg.

On behalf of the Board,

Edward Sawitzky, President

Wildcat Exploration Ltd.

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

/For further information: Edward Sawitzky, President, Wildcat Exploration Ltd., 115 Pulford Street, Winnipeg, Manitoba, R3L 1X8, Phone: (204) 944-8916, Fax: (204) 944-8918/

© CNW Group