Wildcat Resources : Response to ASX Price Query

Suite 1, 295 Rokeby Rd

SUBIACO WA 6008

Telephone: (08) 6555 2950

Facsimile: (08) 6166 0261

8 December 2020

ASX Limited

Level 40, Central Park

152-158 St George's Terrace

Perth WA 6000

By e-mail:ListingCompliancePerth@asx.com.au

Attention: Dale Allen, Principal Adviser, Listing Compliance (Perth)

Dear Mr Allen,

Wildcat Resources Limited (ASX:WC8): Response to ASX Price Query

We refer to your letter dated 3 December 2020 (Price Query) and as requested, we set out below the Company's response to your queries (using the numbering and lettering in your letter) as follows:

1. No, the Company is not aware of any information concerning it that has not been announced to the market, which if known by some in the market, could explain the recent trading in its securities.
2. Not applicable.
3. The Company notes the matters in (a) and (b) below may explain recent trading in the Company's securities:
4. 1. The Company notes that it has a strong land position of applications in the Mallina Gold
      Province up strike from the "Hemi Discovery" by De Grey Mining Limited (ASX: DEG). The Company advised the market on 30 April 2020 it had applied for the following tenements E45/5043, E45/5612 and E45/5613. The Company then noted the following in its quarterly activities reported announced on 28 October 2020:
      "The Company continues to manage the process of these applications to an ultimate outcome of grant. We note that the Company was first in time lodging the applications and this right is not subject to a ballot. Once granted the Company will hold the mineral rights to these tenements 100%".
      The Company notes that its neighbour, De Grey Mining Limited continues to provide updates of gold mineralisation from its drilling that has continued throughout 2020, with the last update being on 30 November 2020.
   2. The Company has a significant gold resource at Hobbs Pipe within the 100% owned Mt Adrah gold project, the details of which were first announced on 23 August 2019, and notes the recent price spike in spot gold starting on 1 December 2020.
   3. The Company is not aware of any other explanation for the recent trading in its securities, however the Company notes that as announced on 6 October 2020, the

Wildcat Resources Limited

ACN: 098 236 938

Suite 1, 295 Rokeby Rd

SUBIACO WA 6008

Telephone: (08) 6555 2950

Facsimile: (08) 6166 0261

Company completed a drilling program at its Mt Adrah gold project with core samples prepared and sent for assay to laboratories in NSW. In total, 951 samples (including standards and blanks) were sent to the laboratory for 50g fire assay for initial screening of potential gold mineralisation. It is noted that anecdotal reports from previous project managers detail the nuggety nature of gold in the system outside Hobbs Pipe, suggesting a screen fire assay must be completed to obtain a more accurate determination of the sample gold grade. The fire assays have been received by the Company. The Company then sent off 39 samples as a pilot program to establish the sensitivity (if any) of the mineralisation to the screen fire assay method on 24th November 2020 and to date has not obtained the results, therefore the assay results are incomplete.

The Company received partial assay results on 19th November 2020 (Partial Results). Since that time the Company has been assessing the Partial Results and in light of the Price Query, will include the Partial Results from the Mt Adrah Gold Project in a Company Exploration Update on the 8 December 2020. The Company does not, however:

1. consider the Partial Results to be material information;
2. consider that the Partial Results could explain the recent trading in the Company's securities; and
3. believe the Partial Results have ceased to be confidential.

Given that the assaying of the remaining samples is a process driven by the laboratory, and not the Company, the Company is unable to advise when the final results will be received. Similarly, the Company is not yet able to advise whether the remaining results will or will not be material.

The Company notes that in light of receiving the Partial Results, the appropriate reporting and escalation processes were followed to ensure that potentially market sensitive information is promptly brought to the attention of its officers.

1. The Company confirms that it is complying with the Listing Rules and, in particular, Listing Rule 3.1.
2. The Company confirms that the responses to the questions have been approved by the Board of the Company.

Yours faithfully

James Bahen

Company Secretary

Wildcat Resources Limited

ACN: 098 236 938

3 December 2020

Reference: 28573

Mr Zane Lewis

Company Secretary

Wildcat Resources Limited

By email: zane@smallcapcorporate.com.au

Dear Mr Lewis

Wildcat Resources Limited ('WC8'): Price - Query

ASX refers to the following:

1. The change in the price of WC8's securities from a closing price of $0.03 on 1 December 2020 to a high of $0.044 at the time of writing today, 3 December 2020.
2. The significant increase in the volume of WC8's securities traded at the time of writing today, 3 December 2020.

Request for information

In light of this, ASX asks WC8 to respond separately to each of the following questions and requests for information:

1. Is WC8 aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities?
2. If the answer to question 1 is "yes".
3. 1. Is WC8 relying on Listing Rule 3.1A not to announce that information under Listing Rule 3.1? Please note that the recent trading in WC8's securities would suggest to ASX that such information may have ceased to be confidential and therefore WC8 may no longer be able to rely on Listing Rule 3.1A. Accordingly, if the answer to this question is "yes", you need to contact us immediately to discuss the situation.
   2. Can an announcement be made immediately? Please note, if the answer to this question is "no", you need to contact us immediately to discuss requesting a trading halt (see below).
   3. If an announcement cannot be made immediately, why not and when is it expected that an announcement will be made?
4. If the answer to question 1 is "no", is there any other explanation that WC8 may have for the recent trading in its securities?
5. Please confirm that WC8 is complying with the Listing Rules and, in particular, Listing Rule 3.1.
6. Please confirm that WC8's responses to the questions above have been authorised and approved under its published continuous disclosure policy or otherwise by its board or an officer of WC8 with delegated authority from the board to respond to ASX on disclosure matters.

When and where to send your response

This request is made under Listing Rule 18.7. Your response is required as soon as reasonably possible and, in any event, by no later than 09:30 AM AWST Thursday, 3 December 2020. You should note that if the information requested by this letter is information required to be given to ASX under Listing Rule 3.1 and it does not fall within the exceptions mentioned in Listing Rule 3.1A, WC8's obligation is to disclose the information 'immediately'. This may require the information to be disclosed before the deadline set out in the previous paragraph and may require WC8 to request a trading halt immediately.

Your response should be sent to me by e-mail at ListingsCompliancePerth@asx.com.au. It should not be sent directly to the ASX Market Announcements Office. This is to allow me to review your response to confirm that it is in a form appropriate for release to the market, before it is published on the ASX Market Announcements Platform.

Trading halt

If you are unable to respond to this letter by the time specified above, or if the answer to question 1 is "yes" and an announcement cannot be made immediately, you should discuss with us whether it is appropriate to request a trading halt in WC8's securities under Listing Rule 17.1. If you wish a trading halt, you must tell us:

• the reasons for the trading halt;
• how long you want the trading halt to last;
• the event you expect to happen that will end the trading halt;
• that you are not aware of any reason why the trading halt should not be granted; and
• any other information necessary to inform the market about the trading halt, or that we ask for.

We require the request for a trading halt to be in writing. The trading halt cannot extend past the commencement of normal trading on the second day after the day on which it is granted. You can find further information about trading halts in Guidance Note 16 Trading Halts & Voluntary Suspensions.

Suspension

If you are unable to respond to this letter by the time specified above, ASX will likely suspend trading in WC8's securities under Listing Rule 17.3.

Listing Rules 3.1 and 3.1A

In responding to this letter, you should have regard to WC8's obligations under Listing Rules 3.1 and 3.1A and also to Guidance Note 8 Continuous Disclosure: Listing Rules 3.1 - 3.1B. It should be noted that WC8's obligation to disclose information under Listing Rule 3.1 is not confined to, nor is it necessarily satisfied by, answering the questions set out in this letter.

Release of correspondence between ASX and entity

We reserve the right to release a copy of this letter, your reply and any other related correspondence between us to the market under Listing Rule 18.7A.

Questions

If you have any questions in relation to the above, please do not hesitate to contact me.

2/3

ASX Customer Service Centre 131 279 | asx.com.au

This is an excerpt of the original content. To continue reading it, access the original document here.