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| | Tue Feb 2, 2010
Happy Creek drills up to 17.7 g/t rhenium in Highland Valley, B.C.
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| | February 2, 2010 -- Vancouver, British Columbia -- Happy Creek Minerals Ltd. (TSX-V: HPY, or the "Company") is pleased to announce preliminary results of additional geochemical1 analyses performed on a portion of one of its drill holes from the Rateria property.
A portion of drill hole R09-06 from Zone 2 has returned 7.5 metres containing 7.2 g/t (grams per tonne) rhenium, along with 0.34 percent copper and 0.085 percent molybdenum. Individual samples indicate up to 17.7 g/t rhenium over 1.5 metres. Mineralization in R09-06 remains open in extent.
Rhenium (Re) is a metal primarily used in making high temperature super-alloys and catalysts. Rhenium prices are currently around US$6.25 per gram2, and have recently ranged up to US$12.00 per gram over the past few years.
David Blann, President of Happy Creek Minerals Ltd. states "We are pleasantly surprised to see values up to seventeen grams per tonne rhenium in the first drill hole analyzed. This discovery significantly adds to the potential value of the copper-molybdenum zones we have already identified, and I expect it will play a role in our exploration goals in Highland Valley. We look forward to providing further information when we receive more complete assay results for this and our other drill holes."
Happy Creek's 100 percent owned Highland Valley project is comprised of the West Valley and Rateria property. These properties comprise over 140 square kilometres that adjoin the west and east side, respectively, of Teck Resources Ltd.'s Highland Valley Copper mine property, Canada's largest copper producer. The Highland Valley Copper mine is currently mining material grading approximately 0.32 percent copper. On the Rateria property, the Company has discovered by drilling two new zones containing potentially economic copper grades that remain undefined and open in extent. Drill results from Zone 2 for which rhenium analyses are pending include 177.0 metres grading 0.377 percent copper, including 27.0 metres grading 1.05 percent copper, 0.019 percent molybdenum, 5.0 g/t silver and 0.24 g/t gold.
Exploration on the Rateria property during 2010 is planned to include drilling, geology and additional three dimensional induced polarization and magnetic geophysical surveys.
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 43-101 and is responsible for the preparation and approval of the technical information disclosed in the news release. 1 Rhenium analyses were performed by Acme Analytical laboratories of Vancouver, B.C. using a geochemical method comprised of aqua regia digestion and ICP-MS with results provided in parts per billion (ppb) and 1,000 ppb equals one gram per tonne (g/t). Aqua regia digestion may be partial for rhenium and samples returning greater than 1,000 ppb will be subject to a method for total determination.
2 WWW .minormetals.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Corporate Office:
Phone: 604.662.8310
Email: dblann@happycreekminerals.com
Website: www.happycreekminerals.com
Investor Relations:
James Berard and Aaron Konkin
Phone: 604-687-2767
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. 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. |
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| | You can view the Next News Releases item: Fri Feb 19, 2010, Happy Creek drill core assays 38.2 metres of 2.14 g/t Rhenium in Highland Valley
You can view the Previous News Releases item: Tue Jan 26, 2010, Happy Creek to drill large new IP geophysical target with samples over one percent copper on surface, Highland Valley area, B.C.
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