Wildcat Resources : RECONNAISSANCE FIELDWORK COMMENCES AT BOLT CUTTER PROJECT

ASX Announcement

18 November 2020

RECONNAISSANCE FIELDWORK COMMENCES AT THE

BOLT CUTTER PROJECT - PILBARA WA

Highlights

• Preliminary field reconnaissance kicks off at the Bolt Cutter Project in the Mallina Gold Province - Pilbara WA
• Fieldwork to examine historical workings and early stage mapping will be undertaken
• Priority prospects to be identified

Wildcat Resources Limited (ASX: WC8) ("Wildcat" or "the Company") is pleased to announce that it has commenced fieldwork at the Bolt Cutter Project in the Mallina Gold Province - Pilbara Western Australia. Wildcat has a strong land position with three applications (E45/5613, E45/5623, E45/5612) in the emerging Mallina Gold Province. The Company's senior consultant geologist Paull Parker will spend several days onsite completing early-stagereconnaissance activities. The Company notes that it is the only applicant of the tenements and the Company will provide an update by way of a market announcement if and/or when the tenements are granted.

The recent discovery of the Hemi gold deposits by De Grey Mining Ltd (ASX:DEG) has uncovered a major new gold system in the Mallina Gold Province. The Mallina Basin is a large and highly prospective gold province and the recent exploration success suggests that the Province is highly prospective. The exploration maturity of the Mallina Basin is lower than many other gold regions in WA, and recent exploration successes there may indicate that there is significant untested potential in the region.

Figure 1 - Bolt Cutter Project in the Mallina Gold Province - Pilbara WA

ASX Announcement

18 November 2020

Figure 2 - Applications of the Bolt Cutter Project in the Mallina Gold Province - Pilbara WA

Previous exploration primarily focussed on targeting structurally controlled gold mineralisation, though Hemi demonstrates that the Towerana gold deposit is not the only intrusion-hosted system in the belt. Gold occurrences in the region are commonly sediment or intrusion-hosted and associated with anticlinal axes, particularly where they intersect major fault or shear structures. The highly prospective Berghaus Shear trends in a north-easterly direction and is postulated to have provided fluid access for the formation of the Hemi Deposit. In addition to the Berghaus Shear, anticlinal axes trend in a parallel orientation and intersect with multiple splays off the Berghaus Shear to provide other areas of interest. Similar settings may be replicated in the Wildcat tenement package.

Potential for other types of mineralisation in the region will also be investigated by Wildcat.

Reconnaissance fieldwork is planned to:

• Examine the historical prospect in the tenement
• Examine the main basement units and structural features present as a framework for assessing prospectivity
• Traverse across the Berghaus Shear
• Check for signs of any alteration proximal to the main structural corridors in the areas of outcrop
• Investigate the local regolith, to provide additional guidance on where surface geochemical sampling could be effective, or where aircore drilling may be required to test particular areas if cover is thicker or more extensive
• Check any areas of historic exploration activity or signs of exploration activity
• Provide additional control for interpretation of the recently completed airborne magnetic survey.

ASX Announcement

18 November 2020

- ENDS -

Figure 3 - Regional geological map of the Mallina Province - Pilbara Western Australia

This announcement has been authorised by the Board of Directors of the Company.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Matthew Banks

Executive Director

Tel: [phone] [e-mail]

ABOUT WILDCAT RESOURCES LIMITED

MOUNT MT ADRAH

Wildcat Resources Limited holds the Mount Adrah Gold Project ("Mount Adrah"), a highly prospective

200km2 tenement package located within the well-endowed Lachlan Orogen region in NSW. The project includes the Hobbs Pipe gold deposit which has an existing JORC 2012 -compliant Mineral Resource estimate of 20.5Mt @ 1.1g/t Au for 770,000 oz of contained gold.

In addition to Hobbs Pipe, a number of high-grade gold reef systems have been identified by historic artisanal workings and limited exploration drilling, including down-hole intercepts such as 10m @

17.7 g/t Au from 506m (GHD009) at the Castor Reef Prospect, about200m north-east of Hobbs Pipe, and 1.2m @ 58.6 g/t Au from 624m (GHD011) at the White Deer Reef Prospect, a further 150m to the north-east of the GHD009 intercept. The drill-hole intervals are interpreted to align with the artisanal workings. However, surface geochemistry and drilling have not yet tested the near-surface potential of these targets.

A number of quartz vein reef-style targets were identified as targets of interest in a study by prior owners in 2016. Results on the follow-up work done on some of these targets have been promising to

ASX Announcement

18 November 2020

date. Outside of the immediate Hobbs Pipe area, the project has had little exploration activity since

the 1990's, with several areas of surface gold anomalies yet to be followed up with drilling.

BOLT CUTTRER PROJECT

Wildcat Resources Limited has strategically applied for tenements within the Mallina Gold Province in

the Pilbara, on the Berghaus Shear, and up-strike from the new discovery of "Hemi" by De Grey Mining

(ASX: DEG) in February 2020.

Forward-Looking Statements

This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Wildcat Resources Limited's planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could,"

"plan," "estimate," "expect," "intend," "may", "potential," "should," and similar expressions are forward-

looking statements. Although Wildcat Resources Limited believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

Competent Person's Statement

The information in this report that relates to Exploration Results and Mineral Resources for the Mount Adrah Project is based on, and fairly represents, information compiled by Mr Damien Keys, a Competent Person who is a Member of the Australian Institute of Geoscientists (AIG). Mr Keys is currently a consultant to Wildcat Resources Limited, the vendor of the Mount Adrah Project. Mr Keys has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Mr Keys consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

ASX Listing Rule Information

Table 1 - JORC (2012) Mineral Resources Estimate for the Hobbs Pipe Gold Deposit

	Resource			Depth			Oxidation		COG			Tonnes		Grade			Contained
			Below
	Classification					Zone		Au (g/t)			(Mt)		(g/t Au)			Gold (oz)
			Surface
				0 - 150m		Oxides	0.4		0.6	0.9		18,000
	Indicated			Fresh	0.9		3.0	1.0		96,000
				150 - 700m	Fresh	0.9		8.5	1.2		320,000
TOTAL INDICATED RESOURCES					12.1	1.1		440,000
	Inferred		0 - 150m	Fresh	0.5		0.2	0.6		39,000
		150 - 700m	Fresh	0.9		8.2	1.1		290,000
TOTAL INDICATED RESOURCES					8.4	1.1		330,000
	TOTAL RESOURCES						20.5		1.1			770,000

The Mineral Resource was first reported in an announcement by former Mount Adrah owners Sovereign Gold Company Ltd (ASX Announcement 27 December 2013). The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the original market announcements continue to apply and have not materially changed. The company confirms that the form and context in which the competent persons findings have not been materially modified from the original announcement.