Happy Creek Purchases Mystery Property in Highland Valley
(TheNewswire)
February 24, 2022 – TheNewswire - Vancouver, British Columbia – Happy Creek Minerals Ltd. (TSXV:HPY) (OTC:HPYCF) (“Happy Creek” or the “Company”) is pleased to report the acquisition of the 438-hectare Mystery property, adjoining the Company’s Highland Valley property in southern British Columbia.
The acquisition is by outright purchase of three tenures from two arms-length vendors. Consideration paid is $11,000 and 300,000 common shares of the Company. Two of the tenures are subject to a 2% Net Smelter Return Royalty of which half (1%) can be purchased at any time by payment of $1.0 million.
The transaction is subject to the receipt of all necessary regulatory approvals, including the TSX Venture Exchange. Any common shares issued will be subject to a four month hold period commencing upon the date of issuance in accordance with applicable Canadian securities laws.
Indigenous Communities
Happy Creek Minerals is committed to responsible mineral resource development. Our priority is to build and sustain mutually beneficial relationships with Indigenous Communities in the territories in which we explore.
About Happy Creek Minerals Ltd.
Happy Creek is focused on making new discoveries and building resources in proximity to infrastructure on its 100-percent-owned portfolio of diversified metals projects in British Columbia. The Company’s Management, Board of Directors and Technical Advisors have solid expertise and depth in the mineral resource sector and capital markets.
About Highland Valley
The 100-percent-owned Highland Valley project, comprising the West Valley and Rateria copper properties, covers 240 square kilometres and is a quality, underexplored exploration asset in the world-class Highland Valley district. The Company’s property package adjoins the Highland Valley Copper (HVC) mine on its southern side3. The mine, Canada’s largest copper producer, has been in production for nearly 60 years. Happy Creek’s Zone 1 and Zone 2 discoveries, which lie just 6.5 kilometres southeast of HVC’s Highmont open pits3, show laterally continuous mineralization that has been outlined with 28,000 metres of drilling and remains open in several directions. The Company also continues to generate new copper targets within this large and prospective property.
More information on the Company’s projects can be found on the Company’s website at www.happycreekminerals.com.
On behalf of the Board of Directors,
“Peter Hughes”
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Peter Hughes, President and Chief Executive Officer
Office Phone: (604) 662-8310
Email: phughes@happycreekminerals.com
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.
The reader is cautioned that results or information from an adjacent property does not infer or indicate similar results or information will or does occur on the subject property. Historical information from the subject or adjacent property cannot not be relied upon as the Company’s QP, a term which was created and defined under NI-43-101, has not prepared nor verified the historical information.
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.
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