Happy Creek Minerals Ltd. Closes $750,000 Financing With The MineralFields Group

July 27, 2010 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSX-V: HPY, the "Company") is pleased to announce that it has completed its non-brokered private placement with the Mineralfields Group announced July 19, 2010. Pursuant to the private placement, the Company sold a total of 2,307,692 units at a price of $0.325 per unit, for aggregate gross proceeds of $750,000. Each unit consists of one flow-through common share and one share purchase warrant. Each warrant entitles the holder to acquire one common share of the Company for a period of 2 years from closing at an exercise price of $0.45 and $0.50 per share in the first and second year, respectively. The shares and warrants comprising the units are subject to resale restrictions and may not be resold until November 27, 2010. If the warrants underlying the units are exercised prior to the expiry of the four month hold period, the shares which are acquired pursuant to the exercise of the warrants will also be subject to any remainder of the unexpired hold period.

In connection with the Offering, the Company will pay finders' fees to arms-length finders in the aggregate amount of $52,500.00

Net proceeds from the Offering will be used for the Company's ongoing exploration on its mineral properties.

"We are very pleased to continue this relationship with MineralFields Group", said David Blann, President and CEO. "This is our third financing with MineralFields Group, and we will continue to develop our projects in the Highland Valley and Cariboo regions of B.C., respectively. Most of the proceeds will be used for a second phase diamond drilling program on our Highland Valley copper (molybdenum, rhenium, gold and silver) property this fall. In addition, we anticipate trenching and our first drilling program on the Golden Ledge property starting in late August this year."

The Company is currently finishing the first phase drilling in Highland Valley and conducting geological mapping and geochemical surveys on the West Valley and Golden Ledge properties. Preliminary geochemical results from the Golden Ledge property have prompted more detailed sampling and expanding the survey area, with more complete results expected in several weeks.

About MineralFields, Pathway and First Canadian Securities ®

MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.

On behalf of the Board of Directors,

"David E Blann"

____________________

David E Blann, P.Eng.

President

FOR FURTHER INFORMATION PLEASE CONTACT:

Corporate Office:

Phone: 604.662.8310 Email: Info@happycreekminerals.com

Website: www.happycreekminerals.com

Investor Relations:James Berard and Aaron KonkinPhone: 604-687-2767Toll 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. This News Release may contain statements that are forward looking and subject to risk and uncertainty more fully described in the Company's Prospectus, Financial Statements and Public Filings located on SEDAR.

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