HPY,news from july 17th,am liking this a lot
July 17, 2010 – Vancouver, British Columbia – Happy Creek Minerals Ltd. (TSXV: HPY, or the
“Company”) is pleased to announce that it has negotiated a nonbrokered private placement of up
to $750,000 through the sale of up to 2,307,692 flowthrough units at a price of $0.325 per unit to
the MineralFields Group. Each flowthrough unit will consist of one flowthrough common share
and one share purchase warrant. Each warrant will entitle the holder to purchase one additional
nonflowthrough common share of the Company for a period of 24 months from closing at an
exercise price of $0.45 in the first 12 months and $0.50 thereafter. A cash finder’s fee equal to 7%
of the gross proceeds raised in the private placement will be payable to First Canadian Securities.
“We are very pleased to continue our relationship with MineralFields Group”, said David Blann,
President and CEO. “This financing is the second with MineralFields Group as we continue to
develop and advance our projects in the Highland Valley and Cariboo regions of B.C., respectively.
Proceeds will be used to continue geology and drilling on our Highland Valley area properties, and
geology, geochemical surveys, trenching and drilling on our Cariboo properties located northeast
of 100 Mile House, B.C.”.
Upon final acceptance of the completed financing by the TSX Venture Exchange, the Company will
have approximately $2.3 million in working capital.
The Company also wishes to announce it has completed its earnin for a 100% interest on the Gus
property that adjoins the Company’s Silverboss property and Xstrata’s Boss Mountain
molybdenum mine property, northeast of 100 Mile House, B.C. The Company now owns a 100%
interest in over 152 square kilometres of mineral tenures surrounding the former Boss Mountain
mine, a significant pastproducer, and located approximately 25 kilometres southeast of Fjordland’s
WoodjamSoutheast coppermolybdenumgold discovery. In addition, the Company has completed
its earnin for a 100% interest into the Grey property that adjoins the Company’s Hawk coppergold
property located northeast of 100 Mile House, B.C. The Hawk property is currently under a JV
agreement with Jiulian Resources Inc., and has returned high copper and gold values in surface
rock samples and historical drill core.
About MineralFields, Pathway and First Canadian Securities ®