Happy Creek Minerals CEO Jason Bahnsen joined Steve Darling from Proactive to share news the company has closed the sale of its Highland Valley Project to Metal Energy Corp., receiving $300,000 in cash and establishing a Net Smelter Return (NSR) royalty agreement. CEO Jason Bahnsen announced that Happy Creek will hold up to a 2.5% NSR royalty on all Highland Valley mineral claims, with Metal Energy holding a buyback option for 1.5% of the royalty in exchange for $5 million.
The Highland Valley Project spans 23,696 hectares in Southern British Columbia, located 50 km from Kamloops and adjacent to Teck’s Highland Valley Copper Mine. Bahnsen shared that Metal Energy plans to immediately start exploration work, with a minimum spend of $250,000 slated for completion by year’s end. Happy Creek’s strategic sale preserves its long-term stake in the project’s potential, while Metal Energy takes on development responsibilities, enhancing value for both companies.
Happy Creek’s plans to focus on its Cariboo properties, particularly the Fox tungsten project, which boasts a high-grade resource with expansion potential. The company also intends to advance its Silver Boss property and the Hen-Art-DL gold project. Bahnsen detailed plans to compile an exploration strategy in the coming months, aiming to begin work by spring.
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