WEL

Wildcat Exploration Ltd. (TSX VENTURE:WEL) announces that at the Special Meeting
of its shareholders scheduled for October 31, 2012, it will be seeking
shareholder consent to a proposed consolidation of its share capital on the
basis of up to twenty existing common shares for one new common share and
authorization for the Board of Directors, at any time in its absolute
discretion, to determine whether or not to proceed with an approved
consolidation without further approval, ratification or confirmation by the
shareholders.


Currently, a total of 129,654,238 common shares in the capital of the Company
are issued and outstanding. Accordingly, if put into effect on the maximum
authorized ratio of twenty existing common shares for one new common share, a
total of 6,482,712 common shares in the capital of the Company would be issued
and outstanding following the consolidation, assuming no other change in the
issued capital. There is currently no maximum number of authorized common
shares. The share consolidation is being proposed in order to allow the Company
greater flexibility in future financings and a change in the name of the Company
is not proposed. The share consolidation is subject to shareholder approval and
TSX Venture Exchange acceptance for filing.


About Wildcat 

Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base
metals in Canada. Its portfolio includes: (1) the Jeep, Mike Power and
Poundmaker gold properties under option to San Gold Corporation, together with
two additional gold exploration properties in the Rice Lake greenstone belt in
Manitoba, (2) the McVicar gold property in the Uchi subprovince of Ontario, (3)
the Reed Lake base metal property in the Flin Flon-Snow Lake greenstone belt in
Manitoba, (4) the Burntwood property in the Thompson Nickel Belt in Manitoba and
(5) the Foster zinc-lead-silver property in Saskatchewan. The Company seeks to
continuously upgrade its property portfolio through exploration and accretive
transactions.


Cautionary Note 

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.

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