Happy Creek Minerals Ltd.
TSX VENTURE : HPY

Happy Creek Minerals Ltd.

June 11, 2009 14:21 ET

Happy Creek Provides Additional Results From the Fox Tungsten Molybdenum Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 11, 2009) - Happy Creek Minerals Ltd. (TSX VENTURE:HPY) (the "Company") is pleased to announce additional results from its 100% owned Fox tungsten-molybdenum property, located approximately 30 kilometres east of the past producing Boss Mountain molybdenum mine in south central British Columbia, Canada. The favorable location, geology, large scale and grades obtained to date are thought to reflect positively on its resource potential. (i)Recent prices for W03 (tungsten trioxide) and molybdenum are around US$9.00/lb, respectively.

In 2007 at the Nightcrawler-Discovery zone, the first drilling ever performed on the property returned positive results including 5.0 metres of 0.33% W03, 2.0 metres of 0.74% W03, 2.0 metres of 0.48% W03, 0.50 metres of 1.8% W03 and 1.7 metres of 0.51% molybdenum. Tabular shaped blocks of subcrop have returned values up to 12.778% molybdenum and 5.46% W03 and mineralization comes to surface. To date, thirteen widely spaced drill holes have returned anomalous to potentially economic values of tungsten or molybdenum in an area approximately 1.5 kilometres by 500 metres in dimension that remain undefined and open in extent. Geologically, this area is underlain by metasediment and calc silicate rocks that contain tungsten-molybdenum skarn and an important intrusive rock that is similar in age and associated mineralization as at the Boss Mountain mine to the west.

Results

The Ridley Creek area is approximately four kilometres north of the Nightcrawler-Discovery zone, and exploration in 2008 included soil geochemical surveys that filled-in and expanded upon the positive 2007 results. Here, three new showings over a distance of three kilometres, returned values up to 0.20 metres of 6.47% W03, 3.5 metres of 2.56% W03 and 1.0 metre of 3.70% W03, respectively (see press release dated November 28th, 2008 for additional results).

Soil geochemical samples were taken at 50 metre intervals along lines 100 to 200 metres apart. Positive tungsten values in soil are greater than 95th percentile, or 11 to greater than 100 ppm (parts per million) tungsten (W) (ii). One well defined northerly trending tungsten anomaly is 350 metres in width and 1.2 kilometres in length. It continues an additional 2.0 kilometres northward where it remains open in extent to the west and includes the known mineralized zones described above.

Positive molybdenum values in soil are greater than 95th percentile, or 10.8 to 47.7 ppm molybdenum (Mo). Several positive anomalies occur that in part overlap the tungsten, with the largest approximately 800 metres in length and 400 metres in width. Other positive anomalies are approximately 1.2 kilometres in length, 100 metres in width and 1.4 kilometres in length and 100 metres in width. On the southwest side of these soil anomalies an outcrop of the intrusive rock containing quartz veins returned 0.170% molybdenum.

Geologically, the Ridley Creek area is comprised of the apex and north flank of the intrusive rock that is overlain to the north by meta-sediment and calc silicate rocks that host tungsten skarn and this setting is similar to the Nightcrawler-Discovery zone, four kilometres to the south. The size and well defined, continuous nature of the soil anomalies together with the known outcrops containing significant tungsten suggest potential for continuous zones of this mineralization over a large distance. In addition, the strong values in soil and rock samples and an intrusive rock that is similar to the Boss Mountain mine are positive for bulk tonnage molybdenum deposits.

Overall, the Fox property is underlain by a tungsten-molybdenum system that is approximately ten kilometres by three kilometres in dimension, and is felt to represent a significant new prospect in western Canada. During 2009, compilation, detailed geological mapping and geochemical sampling is planned for the Ridley Creek and Nightcrawler-Discovery zones in preparation for drilling.

David Blann, P.Eng. is a Qualified Person as defined by National Instrument 43-101 and is responsible for the preparation and approval of the technical information disclosed in the news release.

On behalf of the Board of Directors,

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

(i) Recent prices for tungsten (US$9.00/lb W03) and molybdenum (Mo) tend to be volatile, and tungsten prices are based on contracts for contained W03 that is 1.26 times the total tungsten. Rock and drill core results are provided by Acme Analytical Laboratories of Vancouver, B.C. using peroxide fusion digest for total contained tungsten (W), and (ii) soil geochemical results use an aqua regia digest that is only partial for tungsten.

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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