Pacific Wildcat Resources : NR #2015-11 PAW Provides Default Status Report

Microsoft Word - News Release - Default Status May 29 2015 (2) TSX VENTURE EXCHANGE: TSXV-PAW Pacific Wildcat Provides Default Status Report May 29, 2015 News Release 2015-11

Vancouver, BC, Canada: Pacific Wildcat Resources Corp. (TSXV-PAW) ("PAW" or the "Company") is providing this bi-weekly default status report (the "Default Status Report") in accordance with Policy Statement 12-203 respecting Cease Trade Orders for Continuous Disclosure Defaults ("Policy Statement 12-203"). On April 1, 2015 and May 1, 2015 the Company announced (the "Default Announcement"), "), that, for reasons disclosed in the Default Announcement, the filing of the Company's annual financial statements, CEO and CFO certifications and management discussion and analysis for the year ended December 31,
2014 (the "Annual Filings") would not be completed by the prescribed deadline of April 30,
2015.
In addition, until the audit is completed, the Company will not be in a position to finalize its unaudited financial statements for the three months ended March 31, 2015 and its related Management's Discussion and Analysis and Chief Executive Officer and Chief Financial Officer certifications (the "Interim Filings"). Therefore, the Interim Filings will not be filed by the June 1, 2015 deadline. As a result of the delay in filing the Annual Filings, the Company's principal regulator, British Columbia Securities Commission, granted a management cease trade order ("the MCTO") to the Company. The MCTO prohibits all trading by the Chief Executive Officer, the Chief Financial Officer and the directors and Insiders of the Company in securities of the Company until the MCTO is revoked.
The Company's board of directors and management confirm that they are working expeditiously to meet PAW's obligations relating to the filing of the Annual Filings. The Company now expects to file the Annual Filings on or about July 2, 2015. Pursuant to the provisions of the alternative information guidelines specified by Policy Statement 12-203, the Company reports that since the Default Announcement, except as stated in the Default Status Reports of May 14, 2015 there have not been any material changes to the information contained therein; nor any failure by the Company to fulfil its intentions as stated therein with respect to satisfying the provisions of the alternative information guidelines, and there are no additional defaults or anticipated defaults subsequent to the disclosure therein, other than the delay in filing the Annual Filings and Interim Filings. Further, there is no additional material information respecting the Company and its affairs that have not been generally disclosed and there are no insolvency proceedings against the Company as of the date of this Default Status Report.
Until the Annual Filings and Interim Filings have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified by the Policy Statement 12-203 by issuing bi-weekly status default reports in the form of further press releases, which will also be filed on SEDAR. The Company would file, to the extent applicable, its next default status report on or before June 12, 2015.

ON BEHALF OF THE BOARD OF DIRECTORS OF

PACIFIC WILDCAT RESOURCES CORP.

"Don O'Sullivan", Chief Executive Officer

Contact information:

Pacific Wildcat Resources Corp.

Email: [e-mail]

Telephone: [phone]

Pacific Wildcat Resources Corp. website: www.pacificwildcat.com

About Pacific Wildcat Resources Corp. - Pacific Wildcat is a TSX Venture Exchange listed Canadian mineral exploration company having the trading symbol "PAW". PAW owns 100% of Stirling Capital Ltd and Cortec Pty Ltd, two UK companies that between them own a 70% interest in Cortec Mining Kenya Limited, a Kenyan company which has the mining rights (please note Company's Press Release # 2013-17, on purported revocation of mining licences issued since January 2013 by Kenyan Government for a 60 day review period) to the Mrima Hill Niobium and Rare Earth Project in Kenya. In July 2013 the Company completed an updated independent Niobium Resource estimate for 47.8 million tonnes at 0.66% Nb2O5 (Indicated Classification) plus 94.4 million tonnes at 0.73 % Nb2O5 (Inferred Classification) at a 0.2% Nb2O5 cut-off. In July 2013 the Company completed an inaugural independent Total Rare Earth Resource estimate for 48.7 million tonnes at 4.44% TREO (Indicated Classification) plus 110.7 million tonnes at 3.61 % TREO (Inferred Classification) at a 1% TREO cut-off. For information about Pacific Wildcat Resources Corp. and its development and exploration activities, shareholders and other interested parties are invited to visit the company's website at www.pacificwildcat.com. More information on the foregoing mineral resource estimates is included in the Company's news release dated July 29, 2013, titled "High Grade and Large Tonnage Niobium and Rare Earth Resource for Mrima Hill" and in the Technical Report dated September 1, 2013, titled "NI 43-101 Technical Report for the Mrima Hill Niobium and Rare Earth Project, Kwale District, Kenya", which is filed on www.sedar.comand the Company's website. Mr. Benjamin C. Pollard, principal geologist of BMGS Perth Pty Ltd, a qualified person (as defined in NI 43-101) has reviewed and approved the technical information contained in this news release.

Investors are cautioned that trading in the securities of Pacific Wildcat Resources Corp. should be considered highly speculative. 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.

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding receipt of TSXV approval of the amendments to the Promissory Notes, the Company's plans to grant security in respect of its obligations under the Promissory Notes, and plans to further restructure the Company's debt obligations. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including risks associated with regulatory approval, and risks associated with the above-noted Kenyan legal action. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.