VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 22, 2012) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Pacific Wildcat Resources Corp.
(TSX VENTURE:PAW) ("PAW" or the "Company") is pleased to advise that the Company is currently considering three non-binding potential financing options which will allow the Company to complete the acquisition of the indirect 70% interest in the Mrima Hill Niobium and Rare Earth Project.
The preparation of formal documentation has commenced on two of the financing options.
To allow time for the orderly finalisation of the formal binding documentation and agreement on the preferred financing option, PAW and the Vendors of the 70% indirect interest have agreed upon a further extension of the closing date for the Acquisition, subject to the satisfaction of the closing conditions to June 11, 2012.
ON BEHALF OF THE BOARD OF DIRECTORS OF PACIFIC WILDCAT RESOURCES CORP.
Darren Townsend, President and CEO
About Pacific Wildcat Resources Corp.
- PAW is a Canadian mineral exploration company trading on the TSXV under the symbol "PAW".
PAW has a producing tantalum mine at Muiane in northern Mozambique, where it has the largest land position of over 350 square kilometers on the Alto Ligonha pegmatite belt, the location of numerous historic tantalum mines.
PAWs flagship project is located in Kenya, where a conditional contract is in place providing the Company the right to acquire an indirect 70% interest in the Mrima Hill niobium and rare earth project.
This is an ex-Anglo American and Pechiney property, which was the subject of extensive historical work.
In July 2011, PAW 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.
For information about Pacific Wildcat Resources Corp.
and its development and exploration activities, shareholders and other interested parties are invited to visit the companys website at
www.pacificwildcat.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States or to, or for the account or benefit of, any U.S.
person.
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, any U.S.
person unless an exemption from such registration requirements is available.
"United States" and "U.S.
person" are as defined in Regulation S under the U.S.
Securities Act.
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, work programs, the estimation of mineral resources and the Companys 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 resource estimates are considered speculative and therefore noncompliant with NI 43-101 reporting standards and should not be relied upon.
The Company is not treating the rare earths resource estimates as current mineral resources or reserves.
The Company has not undertaken any independent investigation of the rare earths resource estimates.
The Company believes that these 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 resource estimates through drilling currently underway.
