Happy Creek Minerals Ltd.

Happy Creek Minerals Ltd.

April 15, 2009 15:08 ET

Happy Creek Grants Property Option to Jiulian Resources Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 15, 2009) - Happy Creek Minerals Ltd. (TSX VENTURE:HPY) (the "Company" or "Happy Creek") is pleased to announce that, subject to regulatory acceptance, it has reached an agreement with Jiulian Resources Inc. ("Jiulian") pursuant to which it has granted Jiulian an option to acquire up to a 65% interest in its Hawk Property. The mineral claims comprising the Property total 1976.5 hectares in area and consist of two groups of claims. The largest group of claims (comprising 1377.6 hectares) is wholly owned by the Company. The remaining claims (comprising 598.9 hectares) are subject to an underlying option agreement between the Company and a third party.

Jiulian can earn a 55% interest in the Property by making aggregate cash payments of $150,000 to the Company, issuing an aggregate of 700,000 shares to the Company and incurring aggregate exploration expenditures of $700,000 on the Property over three years. Jiulian also has the right to acquire an additional 10% interest in the Property by incurring additional exploration expenditures of $500,000 on the Property in the fourth year.

Happy Creek is pleased to have established a partnership to continue exploration of this quality porphyry copper-gold-silver system, and expects drill testing of the property next year.

On behalf of the Board of Directors,

David E. Blann, P.Eng., President and CEO

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.

Contact Information

  • Happy Creek Minerals Ltd. - Corporate Office
    David E. Blann, P.Eng.
    President and CEO
    Email: info@happycreekminerals.com
    Website: www.happycreekminerals.com
    Ascenta Capital Partners Inc.
    Hugh Oswald
    Investor Relations
    604.684.4743 ext. 243 or Toll free: 1.866.684.4743 ext. 243