Happy Creek Minerals Ltd. Announces Additional $1,400,000 Financing

December 24, 2010 – Vancouver, British Columbia – Happy Creek Minerals Ltd. (TSXV: HPY) (the “Company”) is pleased to announce that it has negotiated a non-brokered private placement of up to $1,400,000 through the sale of up to 3,500,000 flow-through units at a price of $0.40 per unit. Each flow-through unit will consist of one flow-through common share and one half of one non flow-through share purchase warrant. Each whole warrant will entitle the holder to purchase one additional non flow-through common share of the Company for a period of 24 months from closing at an exercise price of $0.45 in the first 12 months and $0.50 thereafter. The Company may accelerate the expiry date of the warrants if at any time after the date which is 4 months after closing the daily volume weighted average trading price of the common shares of the Company on the TSX Venture Exchange equals or exceeds $0.55 (during the first year of the warrant term) or $0.65 (during the second year of the warrant term) for 15 consecutive trading days, in which event the warrants will expire on the date that is 30 days after the date that the Company provides notice to the holders.

The Company will pay a cash finder’s fee equal to 2% of the gross proceeds raised in the private placement. An additional finder’s fee equal to 3% of the gross proceeds raised in the private placement will be payable in common shares of the Company with a deemed share price of $0.40 per share. The Company will also issue that number of finder’s warrants which is equal to 10% of the total number of units sold under the private placement. Each finder’s warrant will entitle the holder to purchase one non flow-through common share of the Company for a period of 24 months from closing at an exercise price of $0.45 in the first 12 months and $0.50 thereafter. The warrants underlying the Finder’s Units will be subject to the same acceleration provisions as the flow-through units sold in the private placement.

The proceeds from the private placement will be used for exploration work on the Company’s mineral properties and for general working capital.

FOR FURTHER INFORMATION PLEASE CONTACT:

David E. Blann, P.Eng.

President and CEO Happy Creek Minerals Ltd.

Tel: 604-662-8310

Corporate Office:

Phone: 604.662.8310 Email: [email protected] Website: www.happycreekminerals.com

Investor Relations:

James Berard Phone: 604-687-2768 Toll free: 1-877-459-5507

Neither 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.

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