April 23, 2024

Happy Creek Executes Binding Letter of Intent for Sale of Silver Dollar NSR Royalty

April 23, 2024, Vancouver, British Columbia – Happy Creek Minerals Ltd. (TSX-V: HPY) (“Happy Creek” or the “Company”) is pleased to announce that it has executed a Binding Letter of Intent (the “LOI”) with an arms-length third party (the “Buyer”) for the sale of its 1% Net Smelter Return royalty (the “NSR”) over the Silver Dollar Project mineral claims located in Southern British Columbia, in return for cash consideration of $250,000.

The Silver Dollar Project (the “Project”) is an approximately 3300-hectare gold and silver exploration project consisting of mineral claims in the historic Camborne mining district in Southeastern British Columbia. The Silver Dollar Project is now owned by 40 Pillars Mining Corp, a public company trading on the Canadian Stock Exchange. Happy Creek received the NSR over the Silver Dollar Project as part of consideration for the option of the Project to Explorex Resources Inc. on May 11, 2016. (See Company news release dated May 12, 2016 for full details).

Under the terms of the LOI executed April 22, 2024, the Buyer has 12 months to complete the payment of $250,000 cash consideration in return for 100% interest in the NSR. In addition, the Buyer will pay Happy Creek a monthly interest rate of 1% on the Consideration until the transaction is completed. Further, the buyer has the right to terminate the LOI with a termination fee of $3,000 to be paid to Happy Creek.

The Buyer is a private Ontario registered company and is an arms-length entity to the Company or its Directors.

On behalf of the Board of Directors,

“Michael Cathro”
President and Chief Executive Officer


Michael Cathro
Telephone: 604-590-1525
Email: info@happycreekminerals.com

About Happy Creek Minerals Ltd.

Happy Creek is focused on making new discoveries and building resources in proximity to infrastructure on the Company’s 100-percent-owned portfolio of diversified metals projects in British Columbia.

Projects include the Highland Valley Project, adjacent to Teck’s Highland Valley Copper Mine that has been in continuous production for over 60 years, the Fox Tungsten deposit, a high-grade tungsten deposit, the Silverboss molybdenum-copper-gold-silver project adjacent to Glencore’s closed Boss Mountain molybdenum mine, and the adjacent Hen-Art-DL gold and silver project.

Happy Creek is committed to responsible mineral resource development. The Company’s priority is to build and sustain mutually beneficial relationships with Indigenous Communities in the territories in which the Company explores.

Additional information relating to Happy Creek Minerals Ltd. may be obtained or viewed on the SEDAR+ website at www.sedar.com or on the Company’s website at www.happycreekminerals.com.

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.

Forward Looking Statement

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 release.

This 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 mineral projects. Forward-looking information may be, but not always, identified by the use of words such as “seek”, “anticipate”, “foresee”, “plan”, “planned”, “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, 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, availability 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 forward-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 found 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, 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, unless required by law.

You can view the Next News item:May 1st, 2024, Happy Creek Appoints Jason Bahnsen as President and CEO

You can view the Previous News item:March 11th, 2024, Happy Creek Reports on New Copper Targets at Highland Valley

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