First Point Minerals Corp.

First Point Minerals Corp.

January 10, 2005 09:00 ET

First Point Minerals Reports New Results at the Rio Luna Gold Project in Nicaragua; Interactive Map of Exploration Data Now Available


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: FIRST POINT MINERALS CORP.

TSX VENTURE SYMBOL: FPX

JANUARY 10, 2005 - 09:00 ET

First Point Minerals Reports New Results at the Rio
Luna Gold Project in Nicaragua; Interactive Map of
Exploration Data Now Available

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 10, 2005) - First Point
Minerals Corp. (TSX VENTURE:FPX)

Dr. Peter M D Bradshaw, P. Eng, Executive Chairman of First Point
Minerals Corp. is pleased to provide an update on exploration activities
at the Company's 100% owned Rio Luna gold project, Nicaragua.

A graphical summary of all results to date is available for the first
time in an interactive map at www.firstpointminerals.com under the Rio
Luna Gold Project or view directly at
www.firstpointminerals.com/RioLunaMap/. For the past several months
First Point has had a twenty man crew carrying out an augering and
trenching program in order to define targets for the next drill program.
Current work has focused on an area that has not been drill tested to
date, that extends west from Balsamo to Santa Juana. This area includes
the site where a float sample from a quartz vein assaying 250 grams per
tonne (g/t) gold was collected. As the area is relatively flat with high
grass and virtually no outcrop, it is difficult to locate veins by
mapping or prospecting alone. However the residual soil is fairly thin,
so augering and trenching have proven very effective.

Significant developments in this area include:

- A series of parallel and sub-parallel veins are being defined over a
zone 500 meters wide by 2000 meters long. The zone remains open,
providing multiple drill targets.

- Within this zone there are also veins at an oblique angle whose
intersections with the main vein system provide additional excellent
drill targets for possible bonanza grade ore.

- A number of mineralized boulders have been discovered in this zone
whose source is still being defined.

- Some significant trench results include:



----------------------------------
Trench Width Gold
Number (Meters) (g/t)
----------------------------------
TR-102 5.0 2.8
----------------------------------
TR-108 4.5 3.0
----------------------------------
TR-110 13.5 1.6
----------------------------------
TR-114 1.7 6.7
----------------------------------
TR-123 18.9 0.9
----------------------------------
TR-129 17.8 1.0
----------------------------------
TR-149 4.6 3.0
----------------------------------
TR-150 2.2 3.1
----------------------------------


These trench results are similar to those encountered in trenches
located above previously announced drill holes that demonstrated
excellent grades and widths, as shown in the table below:



----------------------------------------------------------------
Depth
of
drill
Gold inter-
Gold Drill grade section
grade Hole Drill in below
Trench in Number inter- drill the
Trench Width Trench below section core trench
Number (Meters) (g/t) trench (Meters) (g/t) (Meters)
----------------------------------------------------------------
TR-26 1.5 1.4 RL-3 2.6 19.4 30
----------------------------------------------------------------
----------------------------------------------------------------
TR-110 4.0 1.8 RL-21 3.2 15.8 40
----------------------------------------------------------------
RL-22 5.2 13.5 65
----------------------------------------------------------------
----------------------------------------------------------------
TR-3 3.9 5.5 RL-9 1.3 19.0 65
----------------------------------------------------------------


A number of drill targets have been defined in this area. First Point's
intention is to complete the surface work in this area before setting an
order of priority for the drilling.

Soil sampling, augering and trenching in this area are continuing. More
analytical results are expected within the next two weeks, with further
results to follow at regular intervals thereafter.

As can be seen on the interactive map, the soil and trench results in
this area are the strongest encountered on the project to date. As can
also be seen on the interactive map, basically only the ridges with
sub-outcropping veins have been explored to date and extensive portions
of the property remain prospective.

The qualified person supervising work on this project is Dr. Peter
Bradshaw, P. Eng.

First Point Minerals Corp. is a Canadian precious and base metal
exploration and development company, exploring in the Americas.

ON BEHALF OF THE BOARD OF DIRECTORS

Peter M. D. Bradshaw, Executive Chairman

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    First Point Minerals Corp.
    Ran Davidson
    Director of Investor Relations
    (604) 681-8600 or Toll Free: 1-866-FPM-8601
    (604) 681-8799 (FAX)
    Email: firstpoint@firstpointminerals.com
    Website: www.firstpointminerals.com
    The TSX Venture Exchange has not reviewed, nor accepts responsibility
    for the adequacy or accuracy of this news release.