JIULIAN RESOURCES INC. ANNOUNCES THE OPTION AGREEMENT TO ACQUIRE UP TO A 65% INTEREST IN THE HAWK AND GREY COPPER-GOLD PROPERTY AND TERMINATION OF PREVIOUSLY ANNOUNCED TRANSACTION

Jiulian Resources Inc. (JLR) has entered into an option agreement dated March 31, 2009, to earn up to a 65-per-cent interest from Happy Creek Minerals Ltd. in the mineral properties known as the Hawk property and the Grey property, located in the Clinton mining division, in the province of British Columbia. The proposed transaction described in the agreement will serve as JLR’s qualifying transaction pursuant to TSX Venture Exchange Policy 2.4. Upon completion of the proposed qualifying transaction, JRL will be involved in the mineral exploration industry sector.

The property is located approximately 36 kilometres (km) northeast of 100 Mile House in the south-central Cariboo region of B.C. The Hawk property comprises 16 contiguous mineral claims that cover 1,377.6 hectares (ha) on BCGS map sheet 092P.086. All of the 16 claims are 100 per cent owned by Happy Creek. The Grey property comprises three contiguous mineral claims that cover 589.9 ha and adjoin the Hawk property to the south. Happy Creek entered into an option agreement with the owner of the Grey property on June 11, 2007, pursuant to which Happy Creek was granted the right to earn a 100-per-cent interest in the Grey property. Access to the property is provided by paved and well-maintained gravel roads.

The property is underlain by geology of the central Quesnel trough, an island arc assemblage hosting a number of copper-gold-silver deposits and mines including Mount Polley to the northwest and Afton to the southeast. Widespread outcrops and boulders containing relatively high-grade copper, gold and silver values occur over an area approximately three kilometres by one kilometre in dimension. Historical drilling in the western portion of the property returned three metres grading 0.79 per cent copper, 1.73 grams per tonne (g/t) gold and 9.43 g/t silver, and 1.83 metres containing 0.93 per cent copper, 3.1 g/t gold and 12.34 g/t silver. Surface rock samples from the property include one metre containing 3.49 per cent copper, 7.29 g/t gold and 46.5 g/t silver, and subcrop and boulders have returned values up to 2.17 per cent copper and 5.35 g/t gold, and 0.528 per cent copper and 2.55 g/t gold. Between 2007 and 2008, a 3-D induced polarization (IP) geophysical survey was conducted over the property that identified a compelling bulk tonnage target located south and southeast of historical surveys and drilling. This positive 3-D IP anomaly remains open in extent.

JLR entered into the agreement with Happy Creek for JLR to earn up to a 65-per-cent undivided interest in the property over a period of four years. Under the agreement, JLR has been granted, subject to an existing 2.5-per-cent net smelter return on the Hawk property and an existing 2-per-cent net smelter return on the Grey option, exclusive rights to acquire an undivided 55-per-cent legal and beneficial interest in the property by making total cash payments of $150,000, issuing a total of 700,000 shares to Happy Creek and incurring total exploration expenditures on the property of $700,000.

Pursuant to the agreement JLR has agreed to make the cash payment to Happy Creek as follows:

• $10,000 upon execution of the option agreement;
• $15,000 on the date of the final exchange bulletin;
• $20,000 on or before the first anniversary of the agreement date;
• $45,000 on or before the second anniversary of the agreement date;
• $60,000 on or before the third anniversary of the agreement date.

JLR has also agreed to issue a total of 700,000 shares to Happy Creek as follows:

• 100,000 shares on the date of the final exchange bulletin;
• 100,000 shares on or before the first anniversary of the final exchange bulletin;
• 200,000 shares on or before the second anniversary of the final exchange bulletin;
• 300,000 shares on or before the third anniversary of the final exchange bulletin.

JLR has agreed to incur expenditures of $700,000 on the property as follows:

• $200,000 on or before the first anniversary of the final exchange bulletin ($100,000 of which is a firm minimum commitment);
• $200,000 on or before the second anniversary of the final exchange bulletin;
• $300,000 on or before the third anniversary of the final exchange bulletin.

In addition, JLR also has the exclusive option right to acquire an additional 10-per-cent interest in the property (for a total undivided 65-per-cent legal and beneficial interest in the property if such option is exercised), by incurring additional exploration expenditures of $500,000 on the property on or before the fourth anniversary of the final exchange bulletin.

Happy Creek is a B.C. company which common shares are listed on the TSX Venture Exchange.

No new insiders will be created as a result of the transaction and no finder’s fees are payable in regard to the transaction. No concurrent financing is planned. The proposed qualifying transaction does not involve any non-arm’s-length parties.

There is no direct or indirect beneficial interest of any of the non-arm’s-length parties to JRL in the proposed significant assets. No non-arm’s-length parties to JRL are otherwise insiders of Happy Creek. There is no relationship between or among the non-arm’s-length parties to JRL and the non-arm’s-length parties to the qualifying transaction.

According to the policies of the exchange and corporate laws, shareholder approval of the qualifying transaction will not be required. A sponsor will not been retained by JRL.

JLR also announces that it has abandoned a proposed transaction that was previously announced in a news release dated Dec. 20, 2007, with the Inner Mongolia Tuoye Mining Development Co. China.