Happy Creek Minerals: Drilling Confirms New Large-Scale Tungsten-Moly System on Fox Property



    VANCOUVER, Feb. 21 /CNW/ - Happy Creek Minerals Ltd. (TSXV: HPY)
announces the first ever drilling results from its 100% owned Fox tungsten
molybdenum property, located 25 kilometres east of the former Boss Mountain
molybdenum mine and approximately 65 kilometres northeast of 100 Mile House in
the south central Cariboo region of British Columbia.
    Drilling of 13 holes over a 1.5 kilometre by 500 metre area of the
Nightcrawler-Discovery Zone has confirmed the presence of a new, large-scale
tungsten-molybdenum system with results from 11 of 13 holes received. The
results include 2.0 metres grading 0.74% tungsten trioxide (W0(3)), 3.0 metres
grading 0.34% W0(3), and 0.50 metres grading 1.80% W0(3), all from drill hole
07F-05. Molybdenite (molybdenum mineral) also occurs, with results including
1.7 metres grading 0.51% molybdenum (Mo) in hole F07-10. Drilling into the
underlying intrusive rock has returned geology and mineralization that
suggests the potential for a porphyry molybdenum system to occur.
    Worldwide, tungsten mines have historically graded between approximately
0.08 to over 2.0% W0(3), with economics being sensitive to many things,
including size, grade, byproducts, amenability to open pit or underground
mining methods, geopolitics, country, and existing infrastructure. First pass,
widely spaced drilling on the Fox property has identified a new, large scale
tungsten-molybdenum system returning significant grades. Importantly, the
mineralized system comes to surface, is large-scale, remains open in extent,
and is within 15 kilometres of hydropower and has excellent road access from a
resource-based town.

    
                          2007 Fox Drilling Summary

    Hole         From(m)        To(m)       Width(m)       % W0(3)     % Mo
    -------------------------------------------------------------------------
    1             126.0         127.0          1.00          0.04
    2              69.0          71.0          2.00          0.12

                            3 & 4 results pending

    5              28.8          30.8          2.00          0.74
                   72.0          92.5         20.50          0.08
    includes       87.0          90.0          3.00          0.34
                  143.0         145.0          2.00          0.48

    6              39.3          40.1          0.80          0.30
                   47.0          48.1          1.10          0.13      0.038

    7             255.0         257.0          2.00          0.31
                  266.8         267.3          0.55          0.46
                  282.3         283.0          0.75          0.04      0.060

                  393.5         394.3          0.75          0.14

    8             214.4         215.8          1.45          0.13
                  236.8         243.8          7.00          0.13
    8 includes    242.0         243.8          1.80          0.33
                  315.0         315.7          0.70          0.30

    9            272.75         280.0          7.25          0.06
    includes     272.50        275.00          2.50          0.13
                 361.45        362.30          0.85                    0.293

    10            135.9         141.8          5.90          0.15
    includes      140.7        141.15          0.45          1.13
                  141.8         146.0          4.20                    0.250
    includes      141.8         143.5          1.70                    0.510
                  181.7        183.70          2.00                    0.048
                  259.5         260.0          0.50          0.24
                  287.9         288.5          0.60          0.16

    11           191.36        195.00          3.64          0.12
    includes      192.0         192.6          0.60          0.37
                  195.0         195.5          0.50                    0.510


    12             72.3          76.1          3.86          0.08

    13             73.5          76.6          3.10          0.08
    includes      74.82         75.10          0.28          1.56
                  183.0         190.8          7.75                    0.120
    includes      186.9         190.8          3.85                    0.219




    Hole       Easting     Northing    Elevation   Azimuth     Dip    Length
    -------------------------------------------------------------------------
    07F-01    671609.00   5769485.00     1216.00     25.00   -47.00   163.07
    07F-02    671560.00   5769489.00     1210.00     25.00   -50.00   112.11
    07F-05    670005.00   5769170.00     1266.00     25.00   -58.00   270.90
    07F-06    670857.00   5769247.00     1234.00      0.00   -90.00   221.59
    07F-07    670821.00   5768818.00     1337.00     25.00   -60.00   434.34
    07F-08    670580.00   5768852.00     1324.00     25.00   -55.00   459.33
    07F-09    670112.00   5768907.00     1293.00     25.00   -47.00   400.81
    07F-10    670622.00   5769004.00     1276.00     25.00   -50.00   336.80
    07F-11    670613.00   5768970.00     1294.00    305.00   -50.00   425.20
    07F-12    670531.00   5769122.00     1250.00     25.00   -50.00   370.64
    07F-13    670531.00   5769122.00     1250.00      0.00   -90.00   245.97
    

    The drill holes vary from approximately 125 to 500 metres apart and all
mineralized zones remain open in extent. The presence of molybdenum as
molybdenite adjacent the tungsten skarn as in hole 07F-10 is a positive
feature of this mineralized system.
    Drilling intersected multiple zones of scheelite (tungsten mineral)
bearing calc silicate (skarn- a replacement and addition of minerals to
limestone) in layers trending easterly with a moderate to gentle southward
dip. The true widths of the intercepts are currently unknown; however,
intercepts are believed to be near true width. The Paleozoic aged sedimentary
rocks hosting tungsten skarn are cut by dikes and sills of a multi-phase
biotite-muscovite quartz monzonite intrusion that is Cretaceous in age. The
age of this intrusion is significant as it is very close to the age of the
intrusive rock that is associated with mineralization at the former Boss
Mountain molybdenum mine located 25 kilometres to the west. Twelve of the
thirteen drill holes reached the main quartz monzonite intrusion at depth.
Limited drilling into this intrusion intersected moderate to strong
quartz-sericite-k-feldspar altered quartz monzonite, aplite or
alaskite/rhyolite with disseminated pyrite, pyrrhotite, and locally abundant
quartz veins containing variable concentrations of pyrite, pyrrhotite, trace
chalcopyrite, molybdenite. Of exploration interest, the element fluorine can
occur in a variety of minerals and has an important association with the
world's largest and highest grade molybdenum deposits, such as the one located
at the Climax or Henderson Mine in Colorado. Preliminary analyses of holes
07F-1 and 2 have returned values of up to 9,000 ppm (parts per million) or
0.90% fluorine. All of the geological information to date suggests the
potential for a large molybdenum porphyry system to occur in proximity to the
current drilling.
    Beyond the Nightcrawler-Discovery Zone, prospecting and soil sampling has
identified the same favorable geology and several additional tungsten skarn
zones that continue on the north side of the quartz monzonite. Approximately
four kilometres north of the 2007 drilling, a new skarn zone has returned up
to 7.11% W0(3) over 0.30 metres that remains open in width and extent.
Approximately two kilometres further north, additional tungsten bearing skarn
was located and results are pending. Large areas of the 225-square kilometre
Fox property are prospective for additional tungsten and molybdenum
mineralization with favorable geology and geochemical results to date
occurring over an area of approximately 14 kilometres by three kilometres and
is open in extent.
    Exploration plans for 2008 include diamond drilling designed to expand
and fill-in the Discovery-Nightcrawler Zone with a view towards generating a
resource for the tungsten-molybdenum skarn zones and locating a large tonnage
molybdenum deposit.
    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. Drill core was cut in
half by a diamond saw or hand splitter, and one half of the sample was shipped
to Acme Analytical Laboratories in Vancouver, B.C. Analyses of samples was
performed in part by 15 gm ICP MS for holes 1,2, with peroxide fusion
digestion and analyses for over-limit tungsten. Fluorine analyses were
performed by specific ion electrode. Holes 5-13 were analyzed by Becquerel
Laboratories of Mississauga, Ontario, using the Neutron Activation method that
provides total determinations with an average 15-20 gram pulp sample size, to
limit nugget effects. Other quality control measures include insertion of
regular blanks and standards, and pulp and reject repeats.

    On behalf of the Board of Directors,

    "David E Blann"

    David E Blann, P.Eng.
    President

    This News Release has neither been approved nor disapproved by the TSX-
    Venture Exchange. The TSX-Venture Exchange does not accept responsibility
    for the accuracy or adequacy of the contents of this News 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
    and Public Filings located on SEDAR.

    %SEDAR: 00023793E




For further information:

For further information: Corporate Office: Nina Mallory, Corporate
Communications, Phone: (609) 662-8310, Email: info@happycreekminerals.com;
Investor Relations: Hugh Oswald, Ascenta Capital Partners Inc., Phone: (604)
684-4743 ext. 243, Toll free: 1-866-684-4743 ext. 243, Email:
hugh@ascentacapital.com

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