FOXT.V · 2017-01-26 12:00:00

Fox tungsten property October 2 4 , 201 7 –

Corporate Updates

Happy Creek

drills 5 metres of 2.98% W03 at

the

Fox tungsten

property

October

201

–

Vancouver, British Columbia.

Happy Creek Minerals Ltd. (TSXV:

HPY)

(the “Company

”

)

pleased

announce

results from drilling at the BN zone on

its

100% owned

Fox tungsten

property

located

90 km

northeast of

the town of

100 Mile

House,

in south central

B.C., Canada.

During 2017, drilling was performed on the BN,

Ridley Creek and Nightcrawler

South Grid zones.

Preliminary results for the BN zone are reported

here

for

4,446.3 metres of drilling in 38

holes.

Final results

for the project,

including

the Ridley Creek and South Grid zones

and

zinc, indium, bismuth, gold and silver values will be released after all results

have been

received.

The BN zone consists of

pper,

Middle and L

er tabular

shaped layer

calc

silicate (

skarn

)

that are

cut by

varying thicknesses of

monzogranite,

alaskite

to aplite

intrusive rocks

n January 26, 2017 the Company announced

as part of the total project

resource,

first

time

inferred resource

for the BN zone

254,000 tonnes grading 1.892%

(tungsten trioxide)

New d

rilling

results

for tungsten (WO

tungsten trioxide)

are

referenced

relative to

the

nearest previous drill hole

intercept within

the current resource

True widths are estimated

to be 75

95% of reported drill intervals.

Highlights

F17

25: 6.8 metres of 0.435% WO

3 starting at 37.6 metres that expands the Middle layer

approximately 50 metres to the southeast.

F17

29: 5.05 metres of 2.980% WO

starting at 45.6 metres

that expands the

Middle

layer

approximately 75 metres to the east.

F17

33: 2.0 metres of 0.578% WO

3 starting at 19.5 metres that expands the

Middle layer

approximately 200 metres to the northeast

F17

36: 7.81 metres of 1.36% WO

3 starting at 55 metres

at expands the Middle layer

approximately

0 metres to the southwest

F17

4.0 metres of 0.963% WO

starting at 162 metres

that expands the Lower laye

approximately 35 metres south of drill hole F12

27 whic

h contains 5.8 metres of 2.0%

and 7.8 met

res of 1.77% WO3

in the Lower layer

David Blann, President and C.E.O. of Happy Creek states: “

his year

, drilling

at the BN

zone

has

expand

the mineralized

area

by about four times

he Fox

has again

returned

globally top

tier

tungsten grades such as drill hole

F17

29 with five metres of 2.98% WO3

that

more than

75 metres

to the

east of F12

27 contain

ing

14.8 metres of 4.0% W

the Middle layer

We have also

intercepted

the

Lower

layer

with

F17

containing

4.0

metres of 0.963%

which

should

allow

this

layer

to be

included in a

resource

estimate.

Reconnaissance drilling further west has confirmed th

at a

one

kilometre

long

tungsten in soil anomaly is underlain by mineralized calc silicate layers at and near

surface and provides potential to expand resources in this direction.

While the BN deposit

still

remains open to further expansion, we expect

the new results to

make

a substantia

contribution

for

the Fox Project in

an updated resource estimate.

Since the previous

resource estimate,

the

tungsten price ha

increased

44%

which

will have

a beneficial

effect on

lowering

the

economic

cutoff grade

”

Details

Drill holes F17

01, F17

02 and

F17

05 expanded

the mineralized zone approximately

metres

to the north

F17

06 to F17

and F17

expanded the deposit approximately

100 metres to the south

where it appears

to be

cut

by monzogranite.

Drill holes

F17

to F17

22 are

generally

widely

space

d reconnaissance

holes

approximately

400

metres

west and

southwest

of the current

resource

and in an area underlai

n by positiv

tungsten in soil. C

alc silicate

and skarn

was intersected in

these drill

holes at and near

surface

and

returned

trace to

low grade tungsten values

The

reconnaissance

holes

confirm the

tungsten in soil anomaly

is underlain by mineralized calc silicate

that occurs

above

monzogranite

sill,

and

provides

opportunity to expand the BN zone

for

over one

kilometre

west

and

southwest.

Drill holes F17

13 and

F17

23 to F17

5 expanded the

Middle layer

over

100 metres to the east and

00 metres

to the

north

east a

nd it remains

open

In this area

he Middle

calc silicate/

skarn layer daylights to surface

in a north

south

trend

and the mineralized zones

are

closer to surface

Geol

ogical mapping has confirmed

this

calc silicate unit continues 800 metres to the north

and

connect

s with the Ridley Creek

deposit

Drill holes F17

and F17

expanded the

Middle layer of the

BN depos

approximately 60 metres southwest

where it remains open beneath a

monzogranite

sill.

The Middle layer of the BN zone is currently the best defined and contains the current

resource that is

approximately

20 to 80 metres below

surface.

Overall, the

dril

defined

BN zone is now approximately 300 metres by 350 metres in dimension

and locally ten

metres from surface

2017 BN Zone Drilling Summary

2017

From

Interval

WO3

Drill hole

Metres

F17

77.0

83.0

6.0

0.378

F17

116.0

118.0

2.0

0.712

F17

85.0

87.5

2.5

0.124

F17

94.0

96.2

2.2

0.100

F17

190.0

191.0

1.0

0.272

F17

59.7

61.8

2.0

0.383

F17

84.0

85.0

1.0

0.849

F17

38.0

46.0

8.0

0.214

F17

24.0

29.7

5.7

0.163

F17

50.0

54.2

4.2

0.238

F17

162.0

174.0

12.0

0.470

Includes

168.0

172.0

4.0

0.960

F17

91.8

93.5

1.7

0.161

F17

37.6

44.4

6.8

0.435

Includes

42.5

44.4

1.9

1.028

F17

9.0

9.7

0.7

0.216

F17

11.5

12.8

1.3

0.139

F17

21.0

27.0

6.0

0.083

F17

30.9

33.1

2.2

0.820

F17

44.8

49.8

5.1

2.980

F17

44.5

45.5

1.0

0.460

F17

32.0

33.0

1.0

0.309

F17

20.4

21.5

1.1

0.648

F17

19.5

21.5

2.0

0.578

F17

55.0

62.8

7.8

1.361

F17

54.02

54.75

0.70

0.619

F17

52.55

53.64

1.09

0.122

The BN tungsten deposit is part of the Fox mineral system that is 10 km by 3 km

containing six

mineralized

zones. Drill results for the Ridley Creek and Nigh

tcrawler

South

Grid are pending.

On behalf of the Board of Directors,

“David E Blann”

_________

___________

David E Blann, P.Eng.

President, CEO

FOR FURTHER INFORMATION PLEASE CONTACT:

David Blann, President, CEO

Corporate Office:

Phone: 604.662.8310

Email:

[email protected]

Website:

www.happycreekminerals.com

Corporate Communications

Ron Birch: Phone: 250.545.

0383

Toll Free: 1.800.910.

7711

Neither the 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

news

release

vid 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.

amples are derived from ½ core cut by rock saw and shipped to, prepared and analyzed at SGS Laborato

ries in

Burnaby, British Columbia.

SGS Burnaby is

ISO 9001:2008

certified.

Drill core samples

of all calc silicate

are

digested and analyzed by aqua regia and ICP

and if greater than 40 ppm W (tungsten) they are re

analyzed by

peroxide fusion and ICP

S for percent tungsten (W), respectively. Over limit samples greater than 4% W are

analyzed for tungsten by XRF. W is multiplied by 1.261 to obtain WO3 (tungsten trioxide) the compound for which

tungsten prices are quoted. The Company routinely inserts bla

nks, certified standards and duplicate samples within

the submitted drill core batches submitted for assay as part of its quality control procedures.

This press release contains "forward

looking information" within the meaning of applicable securities la

ws, including

statements that address capital costs, recovery, grade, and timing of work or plans at the Company’s mineral

projects. Forward

looking information may be, but not always, identified by the use of words such as "seek",

"anticipate", "plan", "p

lanned", "continue", "expect", “thought to”, "project", "predict", "potential", "targeting", "intends",

"believe", “opportunity”, “further” and others, or which describes a goal or action, event or result such as "may",

"should", "could", "would", "might"

or "will" be undertaken, occur or achieved. Statements also include those that

address future mineral production, reserve potential, potential size or scale of a mineralized zone, potential expansion

of mineralization, potential type(s) of mining, potentia

l grades as well as to Happy creek’s ability to fund ongoing

expenditure, or assumptions about future metal or mineral prices, currency exchange rates, metallurgical recoveries

and grades, favourable operating conditions, access, political stability, obtai

ning or renewal of existing or required

mineral titles, licenses and permits, labour stability, market conditions, availability of equipment, accuracy of any

mineral resources, anticipated costs and expenditures. Assumptions may be based on factors and eve

nts that are not

within the control of Happy creek and there is no assurance they will prove to be correct. Such forward

looking

information involves known and unknown risks, which may cause the actual results to materially differ, and/or any

future result

s expressed or implied by such forward

looking information. Additional information on risks and

uncertainties can be found within Financial Statements, Prospectus and other materials found on the Company’s

SEDAR profile at www.sedar.com. Although Happy cre

ek has attempted to identify important factors that could cause

actual actions, events or results to differ materially from those described in forward

looking information, there can be

no assurance that such information will prove to be accurate as actual

results and future events could differ materially

from those anticipated in such statements. Happy creek withholds any obligation to update or revise any forward

looking information, whether as a result of new information, future events or otherwise, unles

s required by law.

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