PAW

Pacific Wildcat Resources Corp. (TSX VENTURE:PAW) ("PAW" or the "Company") is
pleased to announce that it has entered into an agreement (the "Sale Agreement")
with Muscadine Limited ("Muscadine") or its duly appointed Nominee, for the sale
of 100% of the shares of Tantalum Mineracao e Prospeccao Limitada ("TMPL"), a
100% wholly owned Mozambique subsidiary of the Company, that owns the Muiane
Tantalum mine and associated leases in northern Mozambique. Muscadine is the
owner of the gemstone rights on all TMPL properties and will now acquire the
tantalum rights. The transaction is scheduled to close no later than November
15, 2012, or such other date as may be agreed upon by the parties. 


Key Terms of the Sale Agreement

Under the terms of the Sale Agreement, Muscadine will purchase the TMPL Shares
and associated tantalum rights in consideration of the payment to PAW on closing
of:


1) a cash payment of US $3 million, and

2) the transfer and delivery to PAW of an aggregate of 8,872,727 PAW shares
currently owned by Muscadine. 


Conditions of Closing

The closing of the transaction is subject to the satisfaction of certain
conditions, including among others, the acceptance of the TSX Venture Exchange,
the receipt of various regulatory approvals, if required.


Comment

PAW's President & CEO said "Now that we have closed on the acquisition of the
70% indirect interest in the Mrima Hill Niobium and Rare Earth project in Kenya,
we feel it appropriate to concentrate our efforts on advancing the Mrima Hill
project. Whilst we believe in a strong future for TMPL, given the current state
of the capital markets and with a view to minimizing dilution of shareholders at
current low equity prices, we believe the sale of the TMPL asset to finance
ongoing activities at Mrima Hill is beneficial to the Company and its
shareholders and we look forward to working with Muscadine to facilitate
completion of the sale."


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 holds a 70% interest in the Mrima Hill Niobium and Rare Earth Project
in Kenya. This is an ex Anglo American and Pechiney property the subject of
extensive historic work. In July 2011 the Company completed an initial NI 43-101
compliant inferred niobium resource estimate of 105.3 million tonnes at 0.65%
Nb2O5 for a total of 1.519 billion pounds contained Nb2O5 to a depth of 30
metres from the surface In addition, substantial rare earths mineralization has
been identified and it is the objective of the Company to complete a Rare Earth
Resource RC drilling program over the next 6 months.


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 www.pacificwildcat.com.


Investors are cautioned that trading in the securities of Pacific Wildcat
Resources Corp. should be considered highly speculative. 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. 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 a mining licence or any of the
permits that are required in order to commence mining operations at the Mrima
Hill Project. The rare earths historical resource estimates is considered
speculative and therefore noncompliant with National Instrument 43-101 ("NI
43-101") reporting standards and should not be relied upon. The Company is not
treating the historical estimate as current mineral resources or reserves. The
Company has not undertaken any independent investigation of the historic rare
earths resource estimates. The Company believes that these historical resource
estimates provide a conceptual indication of the potential of mineral
occurrences within the project and are relevant to ongoing exploration. The
Company intends to confirm the historic resource estimates through drilling as
soon as possible.

Grafico Azioni Pacific Wildcat Resources Corp. (TSXV:PAW)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Pacific Wildcat Resources Corp. (TSXV:PAW)
Storico
Da Giu 2023 a Giu 2024