Happy Creek expects increased activity with a new neighbor in Silverboss property
Happy Creek Minerals Ltd. (TSX-V: HPY, the "Company") has learned that NMC Resource Corporation (NMC) is looking to make its first North American acquisition by entering into a Letter of Intent with Xstrata to purchase the former Boss Mountain molybdenum mine, located northeast of 100 Mile House, B.C., Canada (refer to News Release dated March 22, 2011 TSX-V:NRC). NMC is a part of Dong Won Resource Group in South Korea which has been involved in production of iron, gold, coal, oil and gas since 1962.
David Blann, President and CEO of Happy Creek states: "Having an existing moly producer from South Korea take an interest in the Boss Mountain mine and Xstrata reserving a significant back-in right, supports our original vision as to the potential value of this and our adjoining Silverboss property. With Goldfields to the northwest and now these companies working next door, this should be the catalyst to draw attention to the area that all along, we've felt it deserved.
Our work on the Silverboss has confirmed there is potential for new deposits immediately adjacent the mine property. In addition, Boss Mountain and our Fox tungsten-molybdenum property to the east share positive geological similarities and significant grades that could also play a role in the future of this area.
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Happy Creek is well financed and planning an aggressive exploration program during 2011 on its 100% owned copper, molybdenum and tungsten properties.
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