Happy Creek Provides Corporate Update

(TheNewswire)

October 10, 2025, Vancouver, BritishColumbia – TheNewswire - Happy Creek Minerals Ltd.(TSX-V: HPY) (“Happy Creek” or the “Company”) is pleased to announce the following corporateupdate.

Retirement of CFO / Appointment ofNew CFO

Richard Lee, CPA, CMA, is retiring and has stepped downas CFO and Corporate Secretary of Happy Creek effective  immediately.The Company thanks Mr. Lee for his over 15years of service and wisheshim well in his retirement.

The Company welcomes Mathew Lee, CPA, CA, of Manning Lee Management Inc. as new CFO and CorporateSecretary of Happy Creek effective immediately.

Extension to Highland Valley SaleAgreement Terms

The Company has agreed with Metal Energy Corp. (TSX.V:MERG) (“Metal Energy”) to amend the terms of the asset purchaseagreement for the sale of the Highland Valley Project (the“Amendment”).

The Amendment, dated August 27, 2025, provides anine-month extension to milestone payments and financing obligationsincluded in the underlying asset purchase agreements (see Happy Creeknews releases dated October 4, 2024, for details).

The updated terms under the Amendment include:

1) Extension of $6 million ofmilestone equity payments as follows (based on a closing date ofNovember 6, 2024):

a) August 6, 2026,Metal Energy to issue $1.0 million in shares to Happy Creek

b) August 6, 2027,Metal Energy to issue $1.0 million in shares to Happy Creek

c) August 6, 2028,Metal Energy to issue $1.5 million in shares to Happy Creek

d) August 6, 2029,Metal Energy to issue $2.5 million in shares to Happy Creek

2) Extension of financingobligations (based on a closing date of November 6, 2024):

a) Metal Energy mustcomplete an equity financing, raising a minimum of $1.5 million, byAugust 6, 2026.

In consideration for entering in the Amendment, MetalEnergy will make a cash payment of $25,000 to Happy Creek within 5days of Metals Energy completing its next financing and will issueHappy Creek with 1,000,000 common shares , subject to TSX VentureExchange (“TSX.V”) approval,

Cariboo Project RoyaltyAgreements

The Net Smelter Return royalties (“NSR’s”) overthe Company’s Cariboo Projects (Silverboss, Hen/Art/DL, Fox) held bythe original prospectors of the mineral tenements has been purchasedby unrelated third parties to the Company (the “Cariboo RoyaltyBuyers”).

On October 1, 2025, the Company entered into anagreement with the Royalty Buyers that confirms the ownership of a2.5% NSR over the original Cariboo Project mineral claims (original20,000 hectares of Cariboo Project mineral claims acquired by HappyCreek in 2005) and extinguishes the preexisting right the Company hadto buy down 1% of the Cariboo Property NSR by making a payment of$2,000,000 to the NSR holders (“HPY Buy Down Rights”).

In consideration for extinguishing the HPY Buy DownRights, Happy Creek received a cash payment of $25,000 from theCariboo Royalty Buyers.

Issuance of Corporate Options

The Company announces the granting of 4,700,000incentive stock options, pursuant to its stock option plan, andsubject to TSX.V approval, to directors, officers and consultants ofthe Company. Each option is exercisable to purchase one common shareof the Company at a price of $0.13 per share for a term of 5 years.All options vest upon grant.

On behalf of the Board of Directors,

“Jason Bahnsen”

President and Chief Executive Officer

FOR FURTHER INFORMATION, PLEASECONTACT:

Jason Bahnsen

Email: info@happycreekminerals.com

About Happy Creek MineralsLtd.

Happy Creek is focused on making new discoveries and buildingresources in proximity to infrastructure on the Company’s100-percent-owned portfolio of diversified metals projects in BritishColumbia.

Projects include the high-grade Fox Tungsten deposit, the Silverbossmolybdenum-copper-gold-silver project adjacent to Glencore’s closedBoss Mountain molybdenum mine and the adjacent Hen-Art-DL gold andsilver project.

On November 7, 2024, Happy Creek announced the closing of the sale ofthe Highland Valley Copper Project to Metal Energy Corp. (TSX:V MERG)(“Metal Energy”). Happy Creek holds 9.9% of Metal Energy issuedcapital and up to a 2.5% Net Smelter Return royalty on the HighlandValley mineral claims.

Happy Creek is committed to responsible mineral resource development. The Company’s priority is to build and sustain mutually beneficialrelationships with Indigenous Communities in the territories in whichthe Company explores.

Additional information relating to Happy Creek Minerals Ltd. may beobtained or viewed on the SEDAR+ website at www.sedarplus.ca or on the Company’swebsite at www.happycreekminerals.com .

Forward Looking Statement

Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.

This press release contains "forward-lookinginformation" within the meaning of applicable securities laws,including statements that address capital costs, recovery, grade, andtiming of work or plans at the Company’s mineral projects.Forward-looking information may be, but not always, identified by theuse of words such as "seek", "anticipate",“foresee”, "plan", "planned","continue", "expect", “thought to”,"project", "predict", "potential","targeting", "intends", "believe",“opportunity”, “further” and others, or which describes a goalor action, event or result such as "may","should", "could", "would","might" or "will" be undertaken, occur orachieved. Statements also include those that address future mineralproduction, reserve potential, potential size or scale of amineralized zone, potential expansion of mineralization, potentialtype(s) of mining, potential grades as well as to Happy Creek’sability to fund ongoing expenditure, or assumptions about future metalor mineral prices, currency exchange rates, metallurgical recoveriesand grades, favourable operating conditions, access, politicalstability, obtaining or renewal of existing or required mineraltitles, licenses and permits, labour stability, market conditions,availability of equipment, accuracy of any mineral resources,anticipated costs and expenditures. Assumptions may be based onfactors and events that are not within the control of Happy Creek andthere is no assurance they will prove to be correct. Suchforward-looking information involves known and unknown risks, whichmay cause the actual results to materially differ, and/or any futureresults expressed or implied by such forward-looking information.Additional information on risks and uncertainties can be found withinFinancial Statements, Prospectus and other materials found on theCompany’s SEDAR profile at www.sedarplus.ca . AlthoughHappy Creek has attempted to identify important factors that couldcause actual actions, events or results to differ materially fromthose described in forward-looking information, there can be noassurance that such information will prove to be accurate as actualresults and future events could differ materially from thoseanticipated in such statements. Happy Creek withholds any obligationto update or revise any forward-looking information, whether as aresult of new information, future events or otherwise, unless requiredby law.

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