Happy Creek Completes $1,400,000 Financing With the MineralFields Group

News Release

Happy Creek Completes $1,400,000 Financing With the MineralFields Group

January 6, 2011, Vancouver, British Columbia: Happy Creek Minerals Ltd. (TSX-V: HPY) (the “Company”) is pleased to announce that it has completed a private placement for gross proceeds of $1,400,000 (the “Offering”) with the Mineral Fields Group. Under the terms of the Offering, the Company issued 3,500,000 flow-through units at a price of $0.40 per unit (the “FT Units”).

Each FT Unit consisted of one flow-through common share of the Company, and one-half of one share purchase warrant (each whole warrant an “FT Warrant”). Each FT Warrant will entitle the holder to acquire one additional non flow-through common share of the Company for a period of 24 months from the closing date at a price of $0.45 per share for the first 12 months from the closing date and at a price of $0.50 per share thereafter. The Company may accelerate the expiry date of the warrants if at any time after the date which is 4 months after closing the daily volume weighted average trading price of the common shares of the Company on the TSX Venture Exchange equals or exceeds $0.55 (during the first year of the warrant term) or $0.65 (during the second year of the warrant term) for 15 consecutive trading days, in which event the warrants will expire on the date that is 30 days after the date that the Company provides notice to the holders.

A cash finder’s fee of $28,000 was paid to Limited Market Dealer Inc. (“LMD”) in connection with the Offering. In addition, the Company issued LMD 105,000 common shares at a deemed price of $0.40 per share and 350,000 finder’s options, each option exercisable into one unit at a price of $0.45 per unit (“Finder’s Units”). Each Finder’s Unit consists of one common share and one-half of one share purchase warrant of the Company (each whole warrant a “Finder’s Warrant”). Each Finder’s Warrant will entitle the holder to acquire one common share for a period of 24 months from the closing date at a price of $0.45 per share for the first 12 months from the closing date and at a price of $0.50 per share thereafter. The warrants underlying the Finder’s Units will be subject to the same acceleration provisions as the flow-through units sold in the private placement.

All of the securities are subject to a hold period expiring May 1, 2011.

“The Company is very pleased to continue its relationship with the MineralFields Group”, said David Blann, President and CEO of the Company. “This is an important milestone in the continuing growth of Happy Creek and we look forward to working with MineralFields Group. This additional financing will allow us to accelerate the exploration and development drilling of our Highland Valley copper properties, and advance our high grade tungsten and other copper, molybdenum, gold, silver prospects near 100 Mile House, British Columbia.”

About MineralFields, Pathway and First Canadian Securities ®

MineralFields Group (a division of Pathway Asset Management), based in Toronto, Montreal, Vancouver and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flowthrough and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.

FOR FURTHER INFORMATION PLEASE CONTACT:

David Blann, President:

Phone: 604.662.8310 Email: [email protected] Website: www.happycreekminerals.com

Investor Relations:

James Berard Phone: 604-687-2768 Toll free: 1-877-459-5507

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.