Happy Creek completes first tranche of drilling at Fox

Executive Summary

• Happy Creek Minerals Ltd. completed the first tranche of its 2025 drill program at the Fox tungsten project in British Columbia, drilling 18 diamond core holes totaling 2,176 meters between September 5 and October 5, 2025.
• Drilling successfully expanded the tungsten resource at the Ridley Creek (RC) and BN zones and identified new mineralized zones, with scheelite mineralization observed in every hole via ultraviolet lamping.
• Significant geological findings include the definition of continuity of the calc silicate horizon at the RC zone and the identification of a deeper, stacked calc silicate horizon at the BN zone, suggesting the resource is open to the west and north beneath Deception Mountain.

Key Details

• Drilling Summary:
  • Total holes completed: 18 diamond core drill holes.
  • Total meters drilled: 2,176 meters (specifically 2,175.5 meters).
  • Date range: September 5, 2025, to October 5, 2025.
  • Sample submission: 611 samples from RC zone and 218 samples from BN zone sent to ALS Geochemistry Laboratories in Vancouver.
• RC Zone Results:
  • 14 holes drilled for 1,304.5 meters (avg depth ~92 meters).
  • Drilling expanded the calc silicate horizon approximately 250 meters southward toward the BN zone.
  • Confirmed geological continuity of calc silicate from surface on the east to ~50 meters thickness westward.
  • Horizon remains open beneath Deception Mountain.
  • Previous surface sampling in the southern area returned up to 2.6% WO3 over 0.30 meters.
• BN Zone Results:
  • 4 holes drilled (F25-15 to F25-18) for 871.0 meters (avg depth ~218 meters).
  • Holes F25-16, 17, and 18 intersected multiple calc silicate horizons.
  • Identified a deeper calc silicate horizon at approximately 175–225 meters depth, located ~100 meters below the upper horizons.
  • Supports a "stacked layer model" with multiple mineralized horizons at depth.
  • Resource potential remains open to the north and northwest beneath Deception Mountain.
• 2018 Resource Context (NI 43-101):
  • Indicated Resource: 582,400 tonnes at 0.826% WO3 (RC Zone).
  • Inferred Resource: 565,400 tonnes at 1.231% WO3 (predominantly BN Zone).
• Prospecting Updates:
  • Reconnaissance prospecting identified key geology (marble, calc silicate, monzogranite) ~4 km south of the South Grid/Nightcrawler area.
  • Trace scheelite identified under UV light in these new areas.
  • Overall length of the Fox tungsten mineral system now approaches ~14 km.
• Next Steps:
  • Follow-up drilling planned between RC and BN zones, at the BK zone, and west beneath Deception Mountain.
  • Drilling planned at Nightcrawler and South Grid targets.
  • Additional primary geology, surface work, and geophysics planned for areas with limited information.
• Corporate Action:
  • Company is not proceeding with the incentive stock option grant announced on October 10, 2025.

Notable Quotes

• Jason Bahnsen, President and CEO: "We are pleased with the drilling achieved at the Fox tungsten project this season... Importantly, the deeper drilling at the BN zone (holes 16 to 18) intersected two thick zones of calc silicate approximately 100 metres between each other. This is significant in that it supports the concept for multiple mineralized horizons at depth that remain open."