Happy Creek Intercepts 1.18 m of 6.83% WO3 from 31.2 m DH Depth at the Fox Tungsten Project in British Columbia
Happy Creek Intercepts 1.18 m of 6.83% WO3 from 31.2 m DH Depth at
the Fox Tungsten Project in British Columbia
December 17, 2025, Vancouver, British Columbia – Happy Creek Minerals Ltd. (TSX-V: HPY)
(“Happy Creek” or the “Company”) is pleased to report assays from the 2025 drill program at the
Fox Tungsten Project in the South Cariboo district of British Columbia (the “Fox Project” or the
“Project”).
Highlights
Eighteen diamond core drill holes were completed at the Fox Project for a total of 2,176
meters drilled during the period from September 5th to October 5th, 2025. The drilling was
focused on the expansion of the tungsten resource at the Ridley Creek (RC), and BN
zones
Drilling at the RC zone has defined continuity of and expanded the calc silicate horizon to
the southwest and is clearly open to the west beneath Deception Mountain. Highlights at
the RC zone include:
o 1.18 meters grading 6.83% WO 3 from 31.2 m downhole depth in hole F25-13
o 1.00 meters grading 2.22% WO 3 from 47.0 m downhole depth in hole F25-01
o 0.95 meters grading 1.11%% WO 3 from 36.5 m downhole depth in hole F25-02
Drilling at the northwest side of the BN Zone intersected several calc silicate horizons that
support a stacked layer model with one horizon some 200 meters below surface. The 2025
drilling clearly indicates the calc silicate horizons and associated tungsten mineralization
are open to the west and north beneath Deception Mountain and there remains potential
for additional horizons at depth. Highlights at the BN zone include:
o In hole F25-16: 1.00 meters grading 0.88% WO 3 from 105.0 m downhole depth
and 1.65 meters grading 0.57% WO3 from 218.3 m downhole depth
o In hole F25-17: 2.50 meters grading 0.25% WO 3 from 106.2 m downhole depth
and 2.00 meters grading 0.79% WO3 from 215.0 m downhole depth
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Table 1 - Significant 2025 Drill Results at Fox Tungsten
Hole ID
From
(m)
To
(m)
Interval
(m)
WO3
(%)
F25-01 47.00 48.00 1.00 2.22
F25-02 33.00 34.00 1.00 0.20
F25-02 35.60 36.55 0.95 1.11
F25-03 No Significant Values
F25-04 No Significant Values
F25-05A 24.10 24.60 0.50 1.26
F25-05A 26.10 26.60 0.50 0.14
F25-06 21.60 22.60 1.00 0.15
F25-06 44.60 45.10 0.50 0.16
F25-06 64.50 65.50 1.00 0.11
F25-07 34.00 35.00 1.00 0.21
F25-07 50.20 51.70 1.50 0.26
F25-08 33.45 34.00 0.55 0.10
F25-09 No Significant Values
F25-10 50.00 51.00 1.00 0.38
F25-10 57.00 58.00 1.00 0.20
F25-11 37.30 38.00 0.70 0.45
F25-12 31.08 32.00 0.92 0.26
F25-13 21.65 22.60 0.95 0.25
F25-13 31.22 32.40 1.18 6.83
F25-14 14.60 15.60 1.00 0.18
F25-14 24.50 25.70 1.20 0.45
F25-15 No Significant Values
F25-16 105.00 106.00 1.00 0.88
F25-16 106.50 107.00 0.50 0.14
F25-16 209.50 210.55 1.05 0.39
F25-16 218.25 219.90 1.65 0.57
F25-17 99.73 100.23 0.50 0.18
F25-17 102.23 102.73 0.50 0.23
F25-17 106.23 108.73 2.50 0.25
Includes 106.23 106.73 0.50 0.84
F25-17 215.00 217.00 2.00 0.79
F25-18 Assays Pending
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Figure 1 - Location of 2025 Drill Holes at Fox Tungsten
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Fox Project - 2025 Exploration Program
During the period from September 5 to October 5, 2025, Happy Creek completed 18 NQ diameter
diamond core drill holes (total 2,175.5 metres) at the Fox tungsten Project focused on resource
expansion at the RC and BN zones.
RC Zone
At the RC zone, the tungsten mineralization is located almost exclusively in the calc-silicate unit.
This lithological unit intercalates with a biotite schist unit and monzogranite and alaskite sills are
subparallel to cross-cutting these units.
The RC zone is currently approximately 400 metres by 175 metres in dimension. It is a gently
dipping to the west tabular body approximately 5 metres to 25 metres in thickness with the top at
surface on the east and approximately 25-75 metres below surface to the west.
2025 RC Zone Drilling
A total of 14 diamond core drillholes were completed at the RC zone during the 2025 field season
for a total of 1,304.5 metres drilled and an average hole depth of approximately 92 metres (See
Table 1).
The focus on the 2025 drill program at the RC zone was to explore the extent of the calc silicate
hosted tungsten mineralization mainly to the west and south and in-fill gaps on the eastern side.
Most holes were drilled to the south where almost no previous drilling was done and are well
beyond the southern limit of the resource area. Previous exploration work done at this southern
part is mainly surface geology, rock sampling and limited hand trenching in 2025 that returned up
to 2.6% WO 3 over 0.30 metres. The drilling confirmed geological continuity of the calc silicate
from surface on the east to approximately 50 metres in thickness westward and expanded it some
250 metres southward from the RC zone towards the BN zone. The 2025 drilling clearly shows
the calc silicate horizon continues westward the entire length of the RC zone and is open beneath
Deception Mountain.
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Figure 2 - Cross Section Showing Holes F25-01 and F25-14 at the RC Zone
BN Zone
The BN zone consists of three stacked calc silicate horizons intercalated with biotite schist that
are cut by varying thicknesses of monzogranite, alaskite to aplite intrusive sills and/or dikes. The
BN zone occurs adjacent the large Deception stock, a two-mica monzogranite, and the intrusive
sills are generally thicker than at the RC zone.
The Middle horizon of the BN zone is currently the best defined and contains most of the current
resource that is approximately 20 to 80 metres below surface. Overall, the drill-defined BN zone
is approximately 300 metres by 350 metres in dimension and outcrops to the east and dips west
to northwest. Scheelite mineralization at the BN zone is mainly associated with the calc-silicate
zones which can be either within the intrusive sills (endo-skarn) and in the surrounding carbonate-
sedimentary rocks altered to calc silicate (exo-skarn).
2025 BN Zone Drilling
A total of four diamond core drillholes (F25-15, F25-16, F25-17, F25-18) were completed at the
BN zone during the 2025 field season for a total of 871.0 metres drilled and an average hole depth
of approximately 218 metres (See Table 1).
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The 2025 drilling tested the potential for mineralized calc silicate horizons to extend to the
northwest and at depth to demonstrate the resource expansion potential of the zone.
Figure 3 - Cross Section Showing Multiple Zones in Hole FS25-16 at the BN Zone
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Table 2 - Fox Project 2025 Hole Locations
2018 Mineral Resource Estimate
In 2018, Happy Creek published a NI43-101 Resource Estimate for the Fox Tungsten Project.
The resource estimate included an Indicated Resource of 582,400 tonnes at 0.826% WO 3, all
located within the RC Zone. The 2018 NI43-101 Resource Estimate also included an Inferred
Resource of 565,400 tonnes at 1.231% WO 3 located predominately at the BN Zone (453,000 @
1.321 WO3). (See Happy Creek news release dated February 27, 2018 for full details, reference
NI 43-101 Resource Update, Desautels and Berndt, April 9, 2018).
For full details of the 2018 Fox Project Mineral Resource see the report by Pierre Desautels, P.
Geo, AGP Mining Consultants Inc. and Paul Berndt, FAusIMM, dated April 9, 2018 and titled “NI
43-101 Resource Update for the RC and BN Zones and Maiden Resource Estimate for the BK
Zone of the Fox Tungsten Project British Columbia” available on the Company’s website at
www.happycreekminerals.com and on the Company’s SEDAR+ profile at www.sedarplus.ca
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Corporate Updates
The Company provides the following correction to its news release dated November 6, 2025.
The prior disclosure indicated that Jason Bahnsen resigned as Chief Executive Officer and
Director, and that Stephen Gray assumed those positions. The Company clarifies that Mr.
Bahnsen resigned as President, Chief Executive Officer and Director, and Mr. Gray was
appointed as President, Chief Executive Officer and Director.
All other information in the November 6, 2025 news release remains unchanged.
The Company provides the following correction to its news release dated November 12, 2025.
The prior disclosure indicated that on October 28, 2025, Happy Creek entered into any
agreement with Small Cap pursuant to which Small Cap will provide social media management
services to Happy Creek for an initial term of 6 months, commencing on November 1, 2025.
Happy Creek will pay Small Cap a fee of $3,500 per month, plus applicable taxes, and Smart
Cap will also be granted stock options to purchase 100,000 common shares of Happy Creek.
The Company clarifies that the base monthly fee will be billed to the Company every three
months in advance. On or before the first day of the calendar month in the three-month period,
Small Cap shall provide an invoice to the Company for the upcoming three months. The
Company will also pay Small Cap an additional $125 per hour for any additional services
outside the scope of the agreement, and will pay $299 plus HST for each influencer booking
made.
All other information in the November 12, 2025 news release remains unchanged.
Qualified Person Statement
The technical and scientific contents of this release have been prepared, verified and approved
by David Blann, P.Eng., a director of the Company, and a qualified person pursuant to National
Instrument 43-101, Standards of Disclosure for Mineral Projects.
Quality Assurance / Quality Control Procedures
NQ size diamond drill core was split and sampled over intervals ranging from 0.38 metres to 2.35
metres and averaging approximately 1.3 metres. Samples were shipped to, prepared, and
analyzed at ALS Canada Ltd (ALS) in North Vancouver, British Columbia. ALS meets all
requirements of International Standards ISO/IEC 17025:2005 and ISO 9001:2015 for analytical
procedures. Samples are analyzed for tungsten using ALS’s fusion method W-XRF10, and for
trace elements by ultra-trace aqua regia method ME-ICP41. Results for tungsten are presented
by ALS in % W. For its own reporting, the Company converts W to WO 3 (tungsten trioxide) by
multiplying the reported W value 1.261 to obtain WO3, which is the compound for which tungsten
concentrate and prices are quoted. In addition to ALS internal laboratory quality assurance /
quality control, Happy Creek implements an internal QA/QC program that includes the insertion
of sample blanks, duplicates, and certified reference standards in the string of drill core samples.