Pacific Wildcat Resources Updates on Large Scale Niobium, Rare Earth Metal Project Acquisition

Pacific Wildcat Resources Corp. (TSX VENTURE:PAW) has announced further to the Company's news release dated July 23, 2010, "PAW Enters into Conditional Purchase Agreement with the Right to Acquire the Majority of a Large Scale Niobium/Rare Earth Metal Project", that the Company's due diligence process is now substantially complete.

The Company is pleased to report it has received the final UK government regulatory approval but needs some additional time to allow finalisation of the legal opinions. This is expected to be complete next week and the Company now expects the Initial Closing to take place on or around the 25th February 2011.

The residual tranche of the financing with Macquarie Private Wealth Inc, as originally announced in the press release titled "Letter of Engagement signed with Macquarie Private Wealth" dated July 23, 2010 remains in place and is fully subscribed and is intended to close concurrent with the Initial Closing of the Acquisition.

Source: Pacific Wildcat Resources Corp.

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