First Point Minerals Corp.
TSX VENTURE : FPX

First Point Minerals Corp.

December 15, 2009 14:41 ET

First Point Minerals Closes Private Placement Financing with Cliffs

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2009) -

THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Peter M. D. Bradshaw, P. Eng., President and Chief Executive Officer of First Point Minerals Corp. (TSX VENTURE:FPX) is pleased to advise the closing of the previously announced non-brokered private placement financing with Cliffs Natural Resources Exploration Inc. ("Cliffs"), a whollyowned subsidiary of international mining company Cliffs Natural Resources Inc. The private placement consisted of 10,198,808 shares priced at $0.0975 per share, for gross proceeds to the Company's treasury of $994,384. The shares will be subject to a "hold" period that will expire on April 12, 2010.

The funds will be used, in part, to fund First Point's ongoing nickel alloy and precious metal exploration programs and for working capital.

First Point Minerals Corp. is a Canadian base and precious metal exploration company focused on the Americas. For more information, please view the Company's website at www.firstpointminerals.com.

FIRST POINT MINERALS CORP.
"Peter M.D. Bradshaw"
Peter M.D. Bradshaw, President

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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