VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 08/02/13 — Pacific Wildcat Resources Corp. (TSX VENTURE: PAW) („PAW“ or the „Company“) announces that as a result of a review by the British Columbia Securities Commission (the „BCSC“) we are issuing the following news release to clarify and retract certain of our technical disclosure which was disclosed prior to the Company-s press release dated July 29, 2013 (the „July 2013 News Release“).
The July 2013 News Release disclosed a zone of High Grade Niobium and Total Rare Earth Oxides on the Mrima Hill Project of 22.6 million tonnes at 1.20% Nb2O5 and 5.56% TREO which disclosure was not compliant with NI 43-101 as the required mineral resource classifications were not provided. The Company restates the combined estimate as follows. The current mineral resource estimate includes a combined zone of high grade Niobium and Total Rare Earth Oxides consisting of (indicated classification) 5.8 million tonnes at 1.11% Nb2O5 (greater than 0.7% Nb2O5 cut off) and 5.6% TREO (greater than 4.1% TREO cut off) plus (inferred classification) 16.7 million tonnes consisting of 1.22% Nb2O5 (greater than 0.7% Nb2O5 cut off) and 5.53% TREO (greater than 4.1% TREO cut off).
QUALIFIED PERSON
The scientific mineral resource estimate contained in the July 2013 News Release was completed by Mr. Benjamin C. Pollard, BSc – Mineral Exploration and Mine Geology. MAIG, principal geologist of BMGS Perth Pty Ltd (BMGS). Mr. Pollard is an independent Qualified Person under NI 43-101 – Standards of Disclosure for Mineral Projects („NI 43-101“) of the Canadian Securities Administrators, and Mr. Pollard has verified the data disclosed in this release. Mr. Pollard will prepare the NI 43-101 report, which will be filed on SEDAR on or before September 12, 2013.
ON BEHALF OF THE BOARD OF DIRECTORS OF PACIFIC WILDCAT RESOURCES CORP.
Darren Townsend, President & CEO
About Pacific Wildcat Resources Corp. – Pacific Wildcat is a TSX Venture Exchange listed Canadian mineral exploration company having the trading symbol „PAW“. PAW owns 100% of Stirling Capital Ltd and Cortec Pty Ltd, two UK companies that between them own a 70% interest in Cortec Mining Kenya Limited, a Kenyan company which has the mining rights to the Mrima Hill Niobium and Rare Earth Project in Kenya. In July 2013 the Company completed an updated independent Niobium Resource estimate for 47.8 million tonnes at 0.66% Nb2O5 (Indicated Classification) plus 94.4 million tonnes at 0.73% Nb2O5 (Inferred Classification) at a 0.2% Nb2O5 cut-off for a total of 2.22 billion pounds contained Nb2O5. In July 2013 the Company completed an inaugural independent Total Rare Earth Resource estimate for 48.7 million tonnes at 4.44% TREO (Indicated Classification) plus 110.7 million tonnes at 3.61% TREO (Inferred Classification) at a 1% TREO cut-off for a total of 6.14 million tonnes of contained TREO. For information about Pacific Wildcat Resources Corp. and its development and exploration activities shareholders and other interested parties are invited to visit the company-s website at .
Investors are cautioned that trading in the securities of Pacific Wildcat Resources Corp. should be considered highly speculative. The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary note: This press release contains forward looking statements, particularly those regarding cash flow, capital expenditures, the completion of certain financings, work programs, the estimation of mineral resources and the Company-s plans with respect to the exploration and development of its projects and its investment plans. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. In particular, there can be no assurance that the Private Placement will complete. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. There can be no assurance that the Company will be able to obtain all the permits that are required in order to commence mining operations at the Mrima Hill Project.
Contacts: Pacific Wildcat Resources Corp. Terese Gieselman Company Secretary/Chief Financial Officer +1-250-768-0009
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