May 1, 2008

Dear Shareholders,

I would like to take this opportunity to review the progress we have made advancing Happy Creek's properties in the past several months and to share the plans we have for 2008.

As you know, Happy Creek owns or has an option to own 100% of five properties in south-central British Columbia, Canada, totaling approximately 500 square kilometers. These properties were diligently identified, prospected and maintained throughout the depressed market cycle of the 1990s. They are all located in proximity to premier existing or past-producing mines and have excellent resource-based infrastructure in place. This is in line with a key strategy of the company "the best place to find a mine is next to a mine" and enhances the probability of making new economic discoveries, even in the face of lower commodity prices.

Happy Creek's projects include the Fox, Silverboss and Rateria properties. On the Fox property, the company discovered a new large-scale tungsten molybdenum system in 2007 - results include 5.0 metres of 0.33% W03 (tungsten trioxide), 2.0 metres of 0.74% W03 and 4.20 metres of 0.25% molybdenum. These potentially economic results are definitely encouraging and positive geological features suggest the system may be part of a much larger and very valuable bulk tonnage molybdenum deposit similar to the Boss Mountain mine located 25 kilometres to the west. The Silverboss property adjoins and largely surrounds the premier past producing Boss Mountain molybdenum mine (formerly operated by Noranda Inc.). It has large scale molybdenum potential that is part of the same geological system, and natural extensions of, the adjacent mine. On the Rateria copper property, drilling continues to outline a new discovery 10 kilometres southeast of Teck Cominco's Highland Valley concentrator, Canada's largest world class copper mine, - results include 10.35 metres of 1.545% copper and 84.0 metres of 0.302% copper . In March 2008, a geophysical survey identified a brand new potential 500 million tonne "target" with drilling planned to start at the end of May.

Our plans for 2008 include: 3,000 metres of drilling on the Fox property intended to outline a resource and locate a large tonnage molybdenum deposit; access road construction and drilling of up to 2,000 metres on the Silverboss property; and drilling of 3,000 metres on the Rateria property. These programs are in addition to our core practice of field work that has consistently advanced new prospects to the drill-ready stage. Our 2008 exploration program will begin this month and we look forward to keeping you informed of our progress. I invite you to review our news releases and other information about our projects on our website: www.happycreekminerals.com.

I appreciate your continued support and look forward to building upon a successful 2007. I am truly pleased with the results to date from our Rateria, Fox and Silverboss properties. Each has the potential to create very significant value this year, for you, our shareholders.

For the most up to date information, visit the corporate website: www.happycreekminerals.com

Yours truly,



David Blann
President, Happy Creek Minerals Ltd.

Hugh Oswald
Investor Relations, Ascenta Capital Partners Inc.
P: 604.684.4743 ext. 243  TF: 1.866.684.4743 ext. 243
E: info@happycreekminerals.com