Mr. Don Taylor reports

WILDCAT ANNOUNCES PROJECT UPDATE AND DRILL RESULTS

Wildcat Silver Corp. has released the results for eight additional holes completed on the company's Hermosa property located in Santa Cruz county, Arizona. Results continue to support the expansion and upgrading of the current Hermosa resource. The company is also announcing that it now expects to issue its updated resource estimate and preliminary economic assessment for the Hermosa project in early 2012.

Highlights

HDS-214, located in the east-central portion of the Hermosa orebody, demonstrates significant silver and manganese mineralization. This hole encountered three intervals, with the upper interval returning 9.1 metres of 395.2 grams per tonne silver, 8.46 per cent manganese, 0.15 per cent zinc, 2.96 per cent lead and 0.22 per cent copper.

HDS-216, also located in the east-central portion of the Hermosa orebody, returned 10.7 metres of 310 g/t silver, 10.81 per cent manganese, 0.17 per cent zinc, 4.36 per cent lead and 0.19 per cent copper.

HDS-203, located in the northeast-central portion of the Hermosa orebody, encountered three intervals of mineralization. The middle zone returned an extensive interval of 35.1 metres of 160.4 g/t silver, 12.45 per cent manganese, 4.52 per cent zinc, 2.79 per cent lead and 0.26 per cent copper.

The company continues to drill on the Hermosa property, and remains focused on expanding the size and upgrading the quality of the current resource. Wildcat's current cash position remains strong and the company expects it will be sufficient to finance its planned activities through 2012.

A summary of the drill results is provided in the attached table.

                                  DRILL RESULTS

         From (m)  To (m)  Interval (m)  Ag (g/t)  Mn (%)  Zn (%)  Pb (%)  Cu (%)
 
HDS-203      93.0   100.9           7.9      69.5   10.23    1.96    1.73    0.10
HDS-203     219.4   254.4          35.1     160.4   12.45    4.52    2.79    0.26
HDS-203     260.1   264.6           4.6      65.8   14.46    3.59    1.34    0.06
                                                                         
HDS-204     137.8   146.3           8.5      10.2   13.41    0.30    0.47    0.03
HDS-204     186.6   201.8          15.2       6.3    6.48    0.50    0.17    0.01
HDS-204     461.6   472.3          10.7       5.1    1.55    4.24    0.11    0.02
                                                                         
HDS-206      13.7    56.4          42.7      46.6    0.11    0.01    0.15    0.01
HDS-206      73.2    97.6          24.4      77.2   10.55    0.22    0.38    0.05
                                                                         
HDS-210      87.2    90.2           3.0      68.9    1.33    0.08    0.92    0.04
HDS-210     137.0   161.9          24.8      98.4   11.94    1.34    3.08    0.16
HDS-210     182.8   202.7          20.0      37.7   13.11    0.95    0.31    0.03
HDS-210     218.3   236.9          18.6      68.7   21.25    6.16    3.35    0.11
HDS-210     252.1   257.8           5.6      62.0   15.18    2.16    1.87    0.07
                                                                         
HDS-213       9.1    30.5          21.3      56.9    0.62    0.03    0.15    0.01
HDS-213      67.1    73.2           6.1      69.9    0.96    0.02    0.31    0.02
                                                                         
HDS-214       3.0    41.2          38.1      29.4    0.19    0.01    0.21    0.02
HDS-214      83.8    93.0           9.1     395.2    8.46    0.15    2.96    0.22
HDS-214     111.3   138.7          27.4      23.7   17.28    5.11    0.95    0.02
                                                                         
HDS-216     123.5   134.1          10.7     310.0   10.81    0.17    4.36    0.19
                                                                         
HDS-217         0    30.5          30.5      88.9    4.53    0.23    0.11    0.02

Note: The intervals reported are drill thicknesses as measured along the core 
      axis and are not true widths.

A complete list of all drill intercepts, location map and 3-D model of the Hermosa mineralization are available on the company's website.

Qualified person

The results of Wildcat's drilling have been reviewed, verified and compiled by Don Taylor, MSc, PG, vice-president of exploration for Wildcat Silver, a qualified person as defined by National Instrument 43-101. Mr. Taylor has more than 25 years of mineral exploration and mining experience, and is a registered professional geologist through the SME. Mr. Taylor is also a licensed professional geologist in several U.S. states.

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