Happy Creek Minerals Ltd. - Closing of Non-Brokered Private Placement

    VANCOUVER, Jan. 3 /CNW/ - Happy Creek Minerals Ltd. (TSX-V: HPY) is
pleased to announce that is has completed a private placement of
1,267,500 units at a price of $0.40 per unit, for aggregate gross proceeds of
$507,000. Each unit consisted of one flow-through common share and one-half of
one non-transferable share purchase warrant. Each whole warrant entitles the
holder to acquire one non flow-through common share of the Company until
December 28, 2008 at an exercise price of $0.50. The shares and warrants
comprising the units are subject to British Columbia Securities Commission and
TSX Venture Exchange hold periods of four months, expiring on April 29, 2008.
    Net proceeds from the Offering will be used for the Company's ongoing
exploration program on its Cariboo properties and for general working capital.

    On behalf of the Board of Directors

    David E. Blann, P. Eng.

    This News Release has neither been approved nor disapproved by the
TSX-Venture Exchange. The Exchange does not accept responsibility for the
accuracy or adequacy of the statements contained herein. 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: David E. Blann, P. Eng., President, Office
phone: (604) 662-8310, Toll Free Phone: 1-877-662-8310,
www.happycreekminerals.com, info@happycreekminerals.com; Investor Relations:
Ascenta Capital Partners Inc., Trent Dahl, Tel: (604) 684-4743, ext.228, Toll
Free: 1-866-684-4209

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