FOXT.V · 2019-12-20 12:00:00

Geophysical Results from the West Valley C opper P roperty , British Columbia

Exploration Programs Sampling & Geoscience Results

Happy Creek

receives

Geophysical Results from the

West Valley

opper

roperty

, British

Columbia

December

2019

–

Vancouver, British Columbia. Happy Creek Minerals Ltd. (TSXV: HPY) (the

“Company

”

)

pleased to

provid

a summary of geophysical and geology results received from

recently completed work on

its

100% owned

, 144 square kilometre

West Valley

propert

cated

the Highland Valley mining district of

south

central

British Columbia

, Canada

The West Valley

property adjoins the southwestern side of the

operating

Highland Valley copper mine

Further to the press release dated November

2019 a 3

dimensional induced polarization

geophysical survey (“IP survey”) w

completed

by SJ

eophysics Ltd

the north and south

portions of

the West Valley property called the PIM and Abbott prospects

, respectively

. In addition,

the Company’s 2012 ai

rborne magnetic survey data of the entire West Valley property was re

processed into a 3

dimensional view and airborne high

resolution photographic imagery of the

Rateria

West Valley property

was performed.

In conjunction with the geophysical surveys,

pros

pecting and geological mapping were also completed.

David Blann, President of Happy Creek states “The objective for work on the 144 sq km West

Valley property in 2019 was to identify potential for new copper deposits

, and by

conducting more

detailed surfac

e geology

specific

areas

and

then

looking

three

dimension

ally

two minimally

explored areas

exciting new targets for

drill testing at the PIM and Abbott

prospects

have been

identified

. The magnetic re

processing has provided an important new perspect

ive

on the

geology. The key younger phases of potentially porphyry copper

generating intrusive rocks are

now thought to occur much further west at surface or beneath older rocks. This will help guide

exploration over the large under

explored areas of

this

property

.”

Highlights

New deposit

scale

targets

outlined

the

PIM and Abbott prospects

, both without any prior drilling.

Magnetic re

processing

has revealed a three

dimensional view of the

younger phases of

the

batholith

which

are the

host

large copper deposits in the district.

hese important rocks

are

interpreted to

occur further west and

underl

y older rocks on the property

and

provide greater

potential for copper deposits to occur

in underexplored areas

Field work locate

d a

copper

moly

showing

near

the intersection of the

Lornex

and

Skuhun faults

Results

Magnetic survey re

processing

The re

processing

and modelling

the Company’s

2012 144 sq km West Valley

magnetic survey

were

performed by SJ Geophysics Ltd.

This work

generated a thr

dimensional model tha

t better

defines the Bethsaida and Skeena phases of the batholith

having

generally lower magnetite

content and which host the known

giant

copper deposits

Lornex and Valley

in the district. The

younger phases are modelled as magnetic lows and occur in a northerly trend along the eastern

side of the property, and notably occur in places beneath older, more magnetic phases and extend

westward well beyond what is visible at sur

face. Importantly,

several

areas containing

positive

copper in stream sediment,

vein alteration and copper showings in older rocks at surface are

interpreted to be underlain by the younger phases of the batholith. In addition, strongly magnetic

phases of t

he batholith

, locally containing chalcopyrite copper showings

are modelled as vertical,

pipe

like shapes that extend to well over three km below surface.

PIM

copper prospect

The PIM prospect is located approximately 5.5km southwest of the Lornex mine and

is underlain

by Bethsaida

and

Skeena

phases

of the Guichon batholith

Prospecting

and

eological mapping

performed

in 2019

identified several

new

copper showings

associated with

magnetite

destructive

alteration including

various

pale green to white mica,

quartz veins with specular hematite

copper

sulphide

and

oxide

that are within an historical positive copper in soil

anomaly

800m in length

and up to 300m in width

. Magnetic processing in 2019 indicates this area is underlain by a

northwest trending,

inte

nse magnetic low

that extends to

a depth greater than

3km

. The 2019 IP

survey

has returned

a positive chargeability

extending

to over 450m below

and adjacent the

surface copper showings

The geology, alteration and presence of copper at surface

combined

with the geophysics suggest t

PIM holds good potential for a sizeable copper zone and warrants

drill testing.

Abbott

Lake

copper prospect

The Abbot

prospect area is

located in the southwest portion of the West Valley property

. This

underexplor

ed area covers a 5.5km wide section of geology including various phases of the

Guichon batholith to the east and Nicola volcanic

breccia and

sediment to the west.

Although

glacial till covers much of the area, t

he north

south trending Lornex fault

can be i

nferred from

geophysics to cut

the property.

On the western portion of the property,

Nicola Group volcanic

sediments

hosts the

Pole 346

showing

and

chlorite, epidote, albite and quartz

alteration

minerals with

chalcopyrite

magnetite

occur in outcrop

Six

ock

samples collected in 2019 returned from 815 ppm up to 0.56% copper

a northwesterly trend

having dimensions of

approximately 200 metres in width and one km in

length

This trend continues northwest for another

kilometre

to the historical Tar prospect, where

the Nicola volcanic

rocks

and Guichon batholith contact occurs and positive copper in soils are

noted in historical work.

The geophysical aspects of th

e Nicola volc

anic

sediments and associated

mineralized zones

include

strong magnetics

extending to depth

moderately high resistivity

and

weak but discernable chargeability values.

East of the Nicola

volcanic rocks and west of the Lornex fault are

mixture

intrusive rocks

including more

mafic

rich border phase

and more

felsic Highland Valley phases,

with

locally

intrusion breccia texture. Although much of the area is covered by glacial till, local

ized outcrop

containing

feldspar,

chlorite

epidote, sericite

and quartz

veinlets

occur with

generally trace

native copper, chalcopyrite

and

bornite copper minerals in an area 2km by

1.5km in dimension.

Surface grab samples from the various zones

in thi

s area

returned 480 ppm

(parts per million)

to 1.03% copper. East of the Lornex fault,

intrusive

rocks

appear

more felsic and grade into

Guichon

Chataway

phases

cut by dikes of

Bethlehem or

younger in age

In this area, geology

and geophysical inter

pretation suggest a

series of northerly trending fault

and fracture

zones

are

cut by northwest and

northeast

trending fracture sets

and

contain

chlorite

epidote some k

feldspar, quartz veins and pale green

silver

white mica with bornite

and chalcopyrite

copper

minerals.

Grab samples from new showings

found

in the Abbott area in 2019 returned 0.51%

copper, 37 ppb gold,

3.08 g/t silver and

sample 4370 contains

1.31% copper,

0.04 g/t gold and

6.39 g/t silver. The 2019 IP survey

identified a

1.2 km long

north trending

low resistivity and

associated

elevated

chargeability within and adjacent the

assumed

Lornex fault

and copper

showings

This

geophysical

target is thought to warr

ant drill testing

and

continuing to expand

geophysical surveys and additional geology work.

Bin copper prospect

During

2019

, th

historical

Bin copper prospect

was

located

three km to the north of the Abbott

area and just west of the

junction between the

north trending

Lornex and

east trending

Skuhun

faults. This prospect

, as with many others

not received any recorded work since

around

1970

or prior, when irregular shaped patchwork mineral claims in the area limited a broader view of its

potential

. Th

e prospect

consists of

a mineralized zone estimated to be at least

50m in width

and

traced for 200 metres

in length and contains

strong fracturing

with

biotite,

chlorite

epidote

feldspar

and sericite white mica

altered

wall rocks

and

quartz

feldspar

veins

occur

up to 5 cm

in thickness.

Copper minerals such as m

alachite,

azurite, chalcocite, b

ornite

and

chalcopyrite

occur, as does

molybdenite

(molybdenum sulphide)

A 2.5 metre chip sample across a portion of

the mineralized zone returned 1.6

84% copper, 36 ppm molybdenite and 5.87 g/t silver. Grab

samples from subcrop and talus

to the north, south

east and west of this sample

returned

from

1.705% copper

193 ppm molybdenum

up to 6.67% copper

306 ppm molybdenum, 0.25 g/t gold

and 30.1 g/t sil

ver. One sample

returned

518 ppm molybdenum and 0.135 g/t rhenium.

The Bin

prospect is part of a cluster of five surface showings in an area approximately 2 km by 2.5 km in

dimension that the magnetic model suggests is underlain to the east by the Bethsai

da phase.

About the Rateria and West Valley property

The Rateria and West Valley mineral propert

ies

are contiguous and total approximately 244

square kilometres that adjoin and surround the southern side of the Highland Valley Copper

mine

property, Canada

’s largest base metal mine. The property is underlain predominantly by the

Guichon batholith which hosts four porphyry copper deposits

with

commercial production

continu

ing

for over 50 years.

Happy Creek has discovered two new copper zones thought to have

near

term resource potential

that

are located approximately 6.5km southeast of the

active

Highmont

open pits

. Drilling by the

Company in Zone

1 and 2 has returned 95.0 metres of 0.67% copper and 152.5 metres of 0.35%

copper

0.12 g/t gold, respectively. Drill grades appear consistent with

currently

mined

deposits

in the district and the zones are open.

The combined 244 Km

Rateria and West Vall

ey property

is approximately 90% covered by glacial

till, however

at least 25 copper prospects

are known to

occur

here

and these

prospects,

as well

as the area

in between

them,

remain under

explored. The

Happy Creek

property is

regarded as

a quality coppe

r exploration asset within a highly productive mineral district.

More detail on the

Rateria

West Valley

property can be found on the Company’s website at

www.happycreekminerals.com

Updated presentations a

re expected to be completed in early

2020, and a preliminary diagram of the PIM prospect is included

with this press release on the

website.

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

Office:

Phone: 604.662.8310

Email:

[email protected]

Website:

www.happycreekminerals.com

Neither the TSX Venture Exchange nor its Regulation S

ervices Provider (as that term is defined in the policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

David Blann, P.Eng.

, Director,

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.

Results or information from an

adjoining property does not infer that similar results or information will or does occur on the subject property.

Analy

ses

are performed by

SGS Laboratories in

Burnaby, B.C.

using method

GE_ARMV25

and

for samples > 5,000 ppm

GO_ICP21B100

total copper. Analyses also performed by

ALS Chemex in North Vancouver B.C.

using

method ME

MS41 and Cu

OG46 copper assay for >10,000 ppm copper. Results are

provided in ppm (parts per million

(ppm)

grams per tonne

, and gold in parts per billion (ppb)

), with

ppm

values converted to percent by dividing by 10,000

, and

ppb values conver

ted to g/t by dividing by 1,000.

is press release contains "forward

looking information" within the meaning of applicable securities laws, including

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

ral projects.

Forward

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

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

“opp

ortunity”, “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, reser

ve potential, potential size or scale of a mineralized zone, potential expansion of mineralization,

potential type(s) of mining, potential 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, obtaining or renewal of existing or required mineral titles,

licenses and permits, labour stability, market conditions, avai

lability of equipment, accuracy of any mineral resources,

anticipated costs and expenditures. Assumptions may be based on factors and events that are not within the control of

Happy creek and there is no assurance they will prove to be correct. Such forwar

looking information involves known

and unknown risks, which may cause the actual results to materially differ, and/or any future results expressed or

implied by such forward

looking information. Additional information on risks and uncertainties can be fo

und within

Financial Statements, Prospectus and other materials found on the Company’s SEDAR profile at

www.sedar.com

Although Happy creek has attempted to identify important factors that could cause actual actions, ev

ents 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

tatements. Happy creek withholds any obligation to update or revise any forward

looking information, whether as a

result of new information, future events or otherwise, unless required by law.

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