Happy Creek Minerals Ltd. Announces Additional $750,000 financing With The MineralFields Group
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 ®
MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver Montreal and Calgary, is a mining fund with significant assets under administration that offers its taxadvantaged super flowthrough limited partnerships to investors throughout Canada as well as harddollar 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. corporateclass 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 servicefriendly 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 ®
On behalf of the Board of Directors,
“David E Blann”
____________________ David E Blann, P.Eng.
President
David Blann, P.Eng. is a Qualified Person as defined by National Instrument 43101 and is responsible for the preparation and approval of the technical information disclosed in the news release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Corporate Office:
Phone: 604.662.8310 Email: [email protected] Website: www.happycreekminerals.com
Investor Relations:
James Berard and Aaron Konkin Phone: 6046872767 Toll free: 18774595507
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. This News Release may contain statements that are forward looking and subject to risk and uncertainty more fully described in the Company’s Prospectus, Financial Statements and Public Filings located on SEDAR.