ASX Announcement 07 June 2022

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EXPLORATION UPDATE

MT ADRAH GOLD, BOLT CUTTER EAST LITHIUM &

WIDEFIELD BASE METAL PROJECTS

Highlights

New targets identified from re-interpretation of geophysics and geochemistry at the Mt Adrah Gold Project in the Lachlan Fold Belt, NSW

Field work comprising high-resolution topographic survey, mapping, soil sampling and rock-chip sampling is underway at Mt Adrah to assist with target definition for drill planning

Assays imminent for Bolt Cutter East Lithium Project, Pilbara, WA

• Tenements granted at the Widefield Project, West Murchison, WA

useWildcat Resources Limited (ASX: WC8) ("Wildcat" or "Company") is pleased to

announce that it has commenced fieldwork at the Mt Adrah Gold Project to refine targets for drill testing in 2022 (Figure 1). The work follows a recent review of the extensive data Wildcat has compiled over the project. This includes results of Wildcat's regional geochemical and mapping programs, geophysics, and historical exploration data.

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Hobbs Pipe outcrop

770koz Au

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Figure 1 - Field work to assist drill planning at the Mt Adrah Gold Project, NSW

Chief Executive Officer Samuel Ekins said "We are really excited about the opportunities at our Mt Adrah Gold Project. The Lachlan Fold Belt contains some of Australia's largest intrusive-related gold and copper deposits and new research is highlighting the potential for further discoveries. Wildcat's work at Mt Adrah, including regional geochemical sampling, geological and structural mapping and geophysical studies have confirmed the prospectivity of the project for intrusion- related gold systems (IRGS), as well as high-gradereef-style mineralisation. Following recent re-interpretation of geophysics1, integration with regional data sets and mapping, we are rapidly advancing further exploration and target definition work to assist with drill planning at several priority prospects."

1 ASX announcement 13th March 2022:

https://www.investi.com.au/api/announcements/wc8/9eca4540-f12.pdf

ASX Announcement

07 June 2022

Mt Adrah Gold Project - Hobbs Pipe Targets

Hobbs Pipe is an IRGS associated with a sinistral dilational jog to the east of the Nacki Nacki Creek Fault, which is part of the regionally significant Gilmore Suture Zone. Hobbs Pipe has a 2012 JORC compliant resource of 20.5Mt @ 1.1g/t Au for 770Koz of contained Au2. The resource is confined to a 200m diameter, vertical monzodiorite intrusion within a package of intensely folded to migmatitic turbiditic sediments which have locally undergone hornfels alteration. Two high-gradegold-bearing veins named White Deer

onlyReef and Castor Reef occur to the east and have returned a best intercept of 10m at 17.7 g/t Au from 506m (GHD009)3.

The known gold mineralisation in the vicinity of Hobbs Pipe is defined by coincident gold (>50 ppb) and arsenic (>100 ppm) soil geochemical anomalies and an area of intense hornfels alteration (Figure 2)4. The arsenic halo is over 1km in diameter and surrounds a southeast-trending area of gold anomalism and hornfels alteration which extends asymmetrically from Hobbs Pipe.

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ForFigure 2 - The Hobbs Pipe area showing the location of the Hobbs Pipe gold deposit, the White Deer and Castor Reefs and the associated As, Au and alteration halos.

Recent reviews of geophysical data at Mt Adrah, in parallel with additional reconnaissance work in the Hobbs area, has highlighted the potential for a larger intrusive complex extending to the southeast which could host more mineralised intrusions and reefs (Figure 3).

Drilling by Sovereign Gold in 2014 identified brecciation, monzodiorite and gold mineralisation near the southeastern margin of the hornfels zone in a 42.5m deep diamond drill hole, MAGD0015 (Figures 2 & 3). Wildcat's geologists traversed the area and identified areas of outcropping hornfels altered metasediments and monzodiorite proximal to MAGD001 (Figure 4, Table 1). The hornfels metasediment is interpreted as an exoskarn system proximal to a possible larger polyphase intrusive system (indicated by occurrences of granodiorite and monzodiorite).

2ASX announcement 23rd August 2019:https://www.asx.com.au/asxpdf/20190823/pdf/447s52fxbdmrfc.pdf

  1. ASX announcement 04 November 2021:https://www.investi.com.au/api/announcements/wc8/b3aa6be8-934.pdf
  2. ASX announcement 08th September 2021:https://www.investi.com.au/api/announcements/wc8/c040c9ac-eef.pdf
  3. Sovereign Gold Quarterly Activities Report June 2014:https://www.asx.com.au/asxpdf/20140731/pdf/42r5vrgqyjntzh.pdf

ASX Announcement

07 June 2022

Figure 3 shows a geophysical image (1st vertical derivative of reduced-to-pole magnetics) over theHobbs Pipe area with interpreted intrusive and pipe- and reef-styletargets. Additional rock chip sampling and acquisition of a digital elevation model will assist Wildcat to plan drilling to test for further intrusive- related and high-gradereef style gold mineralisation.

onlyuse personalFigure 3 - RTP 1VD magnetic image with known mineralisation in white and conceptual exploration targets in blue For

Figure 4 - Left, MASS002 hornfels altered metasediments (exoskarn) like those adjacent to the Hobbs Pipe; and right, MASS001 monzodiorite dyke, both from outcrop near the collar of MAGD001.

ASX Announcement

07 June 2022

The current phase of field work in the greater Hobbs Pipe area will assist Wildcat to finalise drill targets fordrilling in FY23 Q1/Q2. The primary targets are mineralised intrusions extending under the hornfels alteration to the southeast and possible lateral extensions to Hobbs Pipe to the northwest where mineralisation remains open. Secondary drill targets are extensions to the high-gradeCastor and White Deer Reefs and additional reefs parallel to these that splay-offthe jog that hosts Hobbs Pipe.

Mt Adrah Gold Project - Regional Exploration

onlyTo date 5,924 surface samples have been collected by Wildcat at the Mt Adrah Project. The regional sampling program has identified numerous geochemical anomalies (see Figures 5 & 6) and Wildcat continues to evaluate and rank the anomalies to refine targets for further work and potential drill testing.

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Figure 5 - Location of the soil sampling at Mt Adrah and priority targets

Wildcat has recently commenced a further program of soil sampling to infill and extend grids over priority soil anomalies (e.g. Upper Springs Creek) and also acquire additional data over newly identified geophysical targets.

Soil sampling has also commenced on the EL9063 tenement (Figure 6), which was granted in 2021.

ASX Announcement

07 June 2022

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personalFigure 6 - Wildcat's Mt Adrah Project comprises 52km of prospective tenure along the Gilmore Suture in the Lachlan Fold Belt NSW

Bolt Cutter East Lithium Project

ForWildcat continues to await assays from fieldwork and soil sampling completed in March over the Bolt Cutter East lithium soil anomaly6. The results are expected later this month.

Bolt Cutter East is located approximately 34km along trend to the northeast of the Pilgangoora Lithium Project (309mt at 1.14% Li2O and 105ppm Ta2O5)7 and contains a 14km long lithium and trace element soil anomaly defined by 1,000m x 500m spaced soil samples. The trace element ratios confirm that the anomaly is associated with a fractionated and fertile pegmatite source4. A coherent 8km2 zone containing Li values >50ppm occurs against the basin-forming Pilgangoora Fault within the larger 14km anomaly (Figure 7). Large beryl crystals up to 4cm in diameter (Figure 8) occur along a 1.3km long northwest trend through the >50ppm Li anomaly8. Wildcat is awaiting assays for 250m spaced infill soil samples over the 14km anomaly and rock chip samples from the 1.3km beryl trend.

  1. ASX announcement 28th March 2022:https://www.investi.com.au/api/announcements/wc8/b044a96d-401.pdf
  2. Pilbara Minerals Ltd ASX announcement 6th September 2021: http://www.pilbaraminerals.com.au/site/PDF/248fb0ec-acb0-4026-87e8-d278ea3ab5dc/SignificantIncreaseinPilgangooraResource
  3. ASX announcement 28th April 2022:https://www.investi.com.au/api/announcements/wc8/863bac14-5eb.pdf

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Wildcat Resources Ltd. published this content on 06 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 June 2022 22:41:05 UTC.