Happy Creek Minerals Ltd. is providing an update on its 2023 field work, permitting activities and drill plans for the Highland Valley projects in southern British Columbia. Highlights include: At the Highland Valley project, a $3 million, two-phase exploration program has been approved by the Board. It includes 10,000 m of diamond drilling in 25 holes, plus additional field surveys.

The initial phase of the program includes 4000 m in 10 diamond drill holes and is planned for this fall, subject to financing. Contractors and multi-year permits are in place and 2023 archaeological work has cleared several dozen sites for drilling. The Highland Valley program is designed to drill-test three newly recognized, lightly explored targets with potential for large porphyry copper deposits, and to further expand, refine and rank the pipeline of more than 25 other targets for future drilling.

An updated Highland Valley presentation is now available on the Company's website. With a focus on copper, the project qualifies for the Canadian enhanced 30% flow-through Critical Mineral Exploration Tax Credit, in addition to other federal and provincial tax credits, as may be available. Small field programs were completed on the Fox tungsten and Hen-Art-DL gold-silver-copper-zinc-lead projects in the Cariboo region.

Sample results and multi-year drill permits are pending. Highland Valley Drill Targets. The Company has defined three broad target areas for drill testing in 2023-2024.

These have been selected based on a comprehensive review of Happy Creek exploration databases in conjunction with data and models from recent exploration research partnerships involving Teck Resources Ltd, the University of British Columbia Mineral Deposit Research Unit (UBC-MDRU), Geoscience BC and the BC and Canadian geological surveys, amongst others. A 2021 sample of a float boulder found along the Billy Road returned 1.45% copper, 0.17 g/t gold and 4.09 g/t silver2. In 2023, additional areas of alteration hosting sheeted and stockwork veining that includes copper minerals were located, and assay results are pending.

Highland Valley Permitting and Archaeology. At the advanced Fox project, a very large, multi-year permit amendment was applied for in early 2023 and remains under review by the Province of British Columbia. The application includes up to 570 drill pads, trenching and access trails.

The goal is to expand the known 43-101 compliant tungsten resource along the trend of the BN, RC and BK zones through shallow surface drilling, and to collect technical information for use in future resource modelling, engineering, feasibility and environmental studies. In 2023, the Company has held important discussions on the project with affected First Nations communities, and additional discussions are planned. Also in 2023, Happy Creek completed a small prospecting program on the poorly explored North zone, located northwest of the main BN-RC-BK trend of deposits, on the flank of Deception Mountain.

Ultraviolet (UV) night lamping identified several new outcrops of tungsten-bearing skarn rock up to 5 m thick. The Company's priority is to build and sustain mutually beneficial relationships with Indigenous Communities in the territories in which the Company explores.