03:30 PM EST - Wildcat Exploration Ltd. : announced that it has signed a letter of intent with San Gold Corporation to grant an option to earn an interest in three of Wildcat's gold projects in the Rice Lake greenstone belt of Manitoba. Under the terms of the letter of intent, which are to be incorporated into a definitive agreement, San Gold may earn an 80% interest in Wildcat's Mike Power, Jeep and Poundmaker projects by meeting a multi-year schedule of obligations. The four-year schedule includes exploration spending of $5.1 million; cash consideration paid to Wildcat totaling $1 million; and, subject to regulatory approval, San Gold subscriptions for shares of Wildcat with a market value of $1 million. Wildcat Exploration Ltd.
shares V.WEL are trading up $0.005 at $0.05.
