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Wildcat Announces Additions to Exploration Properties in Guyana by Mammoth Minerals; Appoints CFO of Riva Gold; and Grants Stock Options

06/02/2010

Vancouver, B.C., June 2, 2010 – Wildcat Silver Corporation (TSX-V: WS) (“Wildcat” or “the Company”) is pleased to announce that Mammoth Minerals Inc. (“Mammoth”), a private company with mineral exploration properties in Guyana, has acquired the rights to explore on an additional 24 properties totalling 25,155 acres in the Noseno/Warapati area of Guyana. The mineral exploration rights were acquired through an auction held by the Government of Guyana for total cash consideration of US$100,570.

As announced on May 6, 2010 Wildcat’s wholly owned subsidiary Riva Gold Corp. (“Riva Gold”) has signed a business combination agreement (the “Agreement”) to acquire control of Mammoth, which now holds a large land package totalling 41,730 acres in the highly prospective Noseno/Warapati area. These additional permits go a long way toward consolidating Mammoth’s Noseno/Warapati land position. Riva Gold has outlined several drill targets and on completion of the acquisition of Mammoth, plans to start a diamond drilling campaign. Pursuant to the Agreement, Riva Gold will acquire Mammoth in an all-share transaction, following which Wildcat will spin out the shares of Riva Gold to existing Wildcat shareholders pursuant to a plan of arrangement. Completion of this arms length transaction is subject to, among other conditions, approval of the shareholders of each of Wildcat and Mammoth, court approval of the arrangement, and regulatory approvals.

Management Appointment
In addition, Riva Gold has appointed Margaret Brodie to the position of CFO, effective June 1, 2010. Ms. Brodie is a Chartered Accountant with a Bachelor of Commerce degree from the University of British Colombia, and is a member of the Canadian Institute of Chartered Accountants. Most recently she spent six years working for KPMG in London, England where she worked with FTSE 15 companies including BHP Billiton plc and Diageo plc as well as participated in a number of AIM listings for resource companies. Ms. Brodie has also been involved in several publications in the natural resources sector including co-authoring KPMG's 2006 global mining survey.

Wildcat Chairman Richard Warke said: “We are very pleased to have Margaret join Riva Gold as CFO. Her appointment represents the first step in building a team of strong, seasoned professionals who will lead our efforts to build Riva Gold into a leading gold exploration company.”

Stock Options
Wildcat also announces it has granted 440,000 incentive stock options to officers and employees of the Company. The options are exercisable at $0.46 per share for a period of five years expiring on June 1, 2015.

About Riva Gold
Riva Gold is a wholly owned subsidiary of Wildcat and, on the completion of the acquisition of Mammoth, will hold mineral exploration properties in Guyana, South America. The properties comprise a large land package now totalling 56,341 acres in both the Noseno/Warapati and Arawapai areas. Wildcat plans to spin out the shares of Riva Gold to existing Wildcat shareholders pursuant to a plan of arrangement.

About Wildcat
Wildcat is a Canadian mineral exploration company focused on development of the Hardshell project in Santa Cruz County, Arizona. The Hardshell property is held by Arizona Minerals Inc., of which Wildcat is an 80% owner. Wildcat trades on the TSX Venture Exchange under the symbol WS.

FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements relating to the proposed business combination of Riva Gold Corporation and Mammoth Minerals Inc., and includes statements regarding the completion of the proposed transaction, the proposed listing of Riva Gold on the TSX Venture Exchange, the financing and other statements that are not historical facts. Such forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to vary materially from targeted results the results or events predicted in these forward-looking statements. As a result, you are cautioned not to place undue reliance on these forward-looking statements.

The completion of the proposed business combination is subject to a number of terms and conditions, including, without limitation: (i) approval of the TSX Venture Exchange, (ii) approval of Wildcat and Mammoth Minerals shareholders, (iii) court approval, and (iv) certain termination rights available to the parties under the business combination agreement. These approvals may not be obtained, or the conditions to the transaction may not be satisfied in accordance with their terms, and/or the parties to the business combination agreement may exercise their termination rights, in which case the proposed transaction could be modified, restructured or terminated, as applicable. There is no assurance that Riva Gold will be able to achieve a listing on the TSX Venture Exchange or any other stock exchange.

The forward-looking statements contained in this news release are made as of the date of this release. Except as required by applicable law, Wildcat and Riva Gold disclaim any intention and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For additional information with respect to certain of these and other assumptions and risks, please refer to the management information circular to be filed by Wildcat with the Canadian securities commissions (available at www.sedar.com) in connection with the proposed transaction.

On behalf of the Board of Directors:
Richard W. Warke, Chairman

For additional information please visit www.wildcatsilver.com or contact:
Meghan Brown, Investor Relations Manager
tel 604 638 2002
email mbrown@wildcatsilver.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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