Mr. Michael Cathro reports

HAPPY CREEK MINERALS LTD. ANNOUNCES RECEIPT OF IMPORTANT MULTI-YEAR EXPLORATION PERMIT AMENDMENT FOR THE FOX TUNGSTEN PROJECT

Happy Creek Minerals Ltd. has provided an update on important progress on permitting for the company's Fox tungsten project near the community of 100 Mile House in the Cariboo region of British Columbia, Canada.

Michael Cathro, President and CEO, commented: "The new Fox exploration permit amendment is an important step in value creation and advancement of the project towards eventual mine production. Previous drilling at Fox has outlined a very high-grade tungsten resource* at shallow depths in the BN-RC-BK trend, with numerous opportunities for expansion between, adjacent to and at depth below the known deposits. With the recent increase in the tungsten price and recognition that western democracies must develop a stable supply of critical minerals, now is a perfect time to aggressively advance this high-grade project".

The Company has received an amendment to its Multi-Year Area-Based ("MYAB") permit, that will allow for extensive drilling, trenching and trail construction through late 2027. The original Permit was issued in 2006 and has been amended several times since.

The 2023 amendment, issued by the BC Ministry of Energy, Mines and Low Carbon Innovation ("EMLI"), allows for a very significant expansion in new exploration work including 505 surface drilling pads, 165 helicopter-portable drill pads, 875 m of trenching in 35 trenches, 5.1 km of new exploration access trail to connect the drilling area with recently built logging roads, 10 km of temporary drill/trench access trail, and a new temporary camp location. Each drill pad can allow for drilling of several holes, depending on site-specific targets and geological considerations. Most importantly, this permit will allow the Company to conduct much our future work using surface access, which is a much safer and more cost-effective approach versus using helicopter. Drilling could begin by late June 2024.

A portion of the proposed work is within a wildlife habitat area for caribou and will require an exemption from the Ministry of Water, Land, and Resource Stewardship ("WLRS"). The Company has received three previous exemptions allowing for helicopter-supported drilling in this habitat area. Although no signs of caribou have ever been encountered on the project, the Company is aware there is potential habitat, and is committed to working collaboratively with Indigenous Nations, BC Government, and other land users to protect caribou and their habitat. As an example, the Company has successfully used small, track-mounted diamond drills that can move between drill sites with very minimal ground disturbance and tree cutting. Meetings are being arranged with WLRS and the affected First Nation to discuss proposed exemption conditions and mitigation plans.

The goal of the proposed 2023 to 2027 drilling is to at least triple the existing 43-101 tungsten resource*, and then proceed to detailed engineering, environmental and feasibility studies.

Since initial prospecting discoveries in 2006, the Company has drilled a total of 20,751 m in 188 diamond drill holes on the property, of which 10,995 m in 144 holes were focused on the BN-RC-BK trend where the 43-101 resources are located. For additional information on the current National Instrument 43-101 resource estimate*, see the 2018 report listed below.

Indigenous Communities

Happy Creek is committed to responsible mineral resource development. The Company's priority is to build and sustain mutually beneficial relationships with Indigenous Communities in the territories in which the Company explores.

About Happy Creek Minerals Ltd.

Happy Creek is focused on making new discoveries and building resources in proximity to infrastructure on the Company's 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 Fox Tungsten

Fox is a district-scale, high-grade critical mineral project that Happy Creek has advanced from initial discovery to the resource stage. The project is host to the BN, RC and BK tungsten deposits with current mineral resources (*see Happy Creek's news release dated Feb. 27, 2018, and the April 9, 2018, National Instrument 43-101 technical report filed under the company's profile on SEDAR for details). In addition, the project hosts the Nightcrawler-Creek, Discovery and South Grid zones which have significant tungsten drill intercepts, and multiple other undrilled prospects.

About Tungsten

Tungsten is a rare metal with unusual physical characteristics, including extreme hardness and a very high melting point. These features make it an important metal for many industries. It is used mainly in cemented tungsten carbide and high-speed alloy cutting tools and other automotive, energy, defense, manufacturing and high-tech applications.

Qualified Person Statement

The technical and scientific contents of this release have been prepared, verified and approved by David Blann, P.Eng., a director of the Company, and a qualified person pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

We seek Safe Harbor.