Happy Creek Minerals Ltd. initiates exploration of the Fox moly-tungsten property

    VANCOUVER, Aug. 1 /CNW/ - Happy Creek Minerals Ltd. (TSX-V: HPY) (the
"Company") has started exploration of its 100% owned Fox
molybdenum(moly)-tungsten property, located northeast of 100 Mile House, B.C.,
and approximately 30 kilometres east of the former Boss Mountain molybdenum
mine (published production 7.5 million tonnes at an average grade of 0.20%
molybdenum, and a resource of 63 million tonnes at 0.074% molybdenum-not
NI43-101). Exploration of the Fox property to date has identified a large rock
and soil geochemical anomaly containing tungsten and moly that is
approximately 2 kilometres in length and 300 metres in width with surface rock
samples returning up to 4.99% molybdenum at the Discovery zone and up to
4.25% tungsten at the Nightcrawler zone. In addition, reconnaissance of the
225 square kilometre property has identified favorable geology and showings of
tungsten, molybdenum over a ten kilometre distance.
    Regional geology performed by the B.C. Government in 2006 included an age
date from the Deception granite intrusion, or, the mineralizing "engine" that
occurs on the Fox property. For comparison, alteration associated with moly
and tungsten mineralization at the Boss Mountain mine is estimated at 102+/-
4 million years, and from the Deception stock, 106.4+/- 0.2 million years.
These ages are very close geologically, and confirm the Fox property contains
a mid Cretaceous aged intrusion and associated molybdenum-tungsten
mineralization that is similar to the neighbouring Boss Mountain mine. The
Company feels there is potential for a similar size and grade deposit as the
former Boss Mountain mine. Silt, soil geochemical surveys, geology, trenching
and drilling are planned for 2007. At this time, trenching has started and
molybdenite (molybdenum sulphide) and scheelite (tungsten mineral) is
confirmed in material from the trenches. Up to fifteen drill holes are planned
for mid September.
    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.

    On behalf of the Board of Directors,

    "David E Blann"
    David E Blann, P.Eng.

    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: Office phone: (604) 662-8310, Toll Free Phone:
1-877-662-8310, www.happycreekminerals.com, Info@happycreekminerals.com

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