First Point Minerals Corp.

First Point Minerals Corp.

June 29, 2009 18:24 ET

Two Directors Added to First Point Minerals Board at the AGM, Recent Developments at the Decar Nickel Alloy Property Presented

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 29, 2009) - First Point Minerals Corp. (TSX VENTURE:FPX) -

At First Point's AGM held on June 25th in Vancouver two new directors were elected to the Board of Directors.

Mr. Thomas W. Beattie has over 30 years of international experience dealing with the business aspects of foreign exploration and corporate and commercial transactions. He has held senior management positions with international mining and mineral exploration companies and was an officer and director of several publicly traded companies. He is a former Vice-Chair and Director of the Canadian Corporate Counsel Association of the Canadian Bar Association and former Vice-Chair of the Corporate Counsel Section of the BC Branch of the CBA. He holds an LL.B. and a B.Comm. from the University of British Columbia.

Dr. John A. McDonald was the V.P. Exploration for both Diamondex and Winspear Diamonds Inc., where he and his technical team were directly responsible for the discovery and development of the Snap Lake diamond deposit. De Beers acquired Winspear's majority ownership in the Snap Lake deposit for $305 million in 2000. Prior to that he worked for 10 years for Esso Minerals Canada as Chief Geologist and Exploration Manager, Western Canada and was also the founding Director for the Mineral Deposit Research Unit (MDRU) at the University of British Columbia, one of the most successful mining industry/university co-operative ventures in the world. Prior to working in industry and at MDRU his career included five years of mineral deposit research with CSIRO, Australia and a 13-year tenure as a university professor at the University of Saskatchewan, Saskatoon and Australian National University, Canberra, Australia. In 2000, as recognition for his contribution to the industry, Dr. McDonald received the HH "Spud" Huestis award for excellence in prospecting and mineral exploration from the B.C. and Yukon Chamber of Mines. On January 30, 2008, he also received the Hugo Dummett Diamond Award for Excellence in Diamond Exploration and Development.

Dr. Bradshaw, President of First Point said, "I am truly delighted that these two capable individuals with very successful careers in our industry have agreed to join the board. Their addition to the board is a great asset." Messrs. Beattie and McDonald join Messrs. Peter Bradshaw, John Gammon, Christopher Mitchell, William Myckatyn and Robert Watts, all of whom were re-elected. The shareholders also ratified and approved the Company's amended Incentive Stock Option Plan and re-appointed DeVisser Gray as the Company's auditors.

Also at the AGM, Dr. Ron Britten, VP Exploration, and Dr. Peter Bradshaw, CEO, provided an updated presentation on the Company's nickel-iron alloy exploration programme. An updated presentation can be seen at

The presentation included:

- The Decar Property contains the mineral awaruite, a nickel-iron alloy that averages 75% nickel. The alloy is very magnetic and heavy.

- First Point is investigating magnetic separation, gravity separation and leaching to determine which would be the most cost effective method to recover the nickel.

- Awaruite contains no sulphur and consequently a concentrate could be shipped directly to steel mills without incurring smelting and refining costs.

- There would be minimal environmental problems and no acid mine drainage in this type target because of the absence of sulphur in the host rock containing the nickel-iron alloy.

- Minimum target size of 300 million tonnes of widely disseminated or dispersed mineralization would be mined by open pit mining at a low strip ratio and at a mining cost similar to a large porphyry copper deposit (which in British Columbia is about $2/tonne).

- The economics of nickel-iron alloy deposits are potentially very favourable as they avoid the significant cost associated with nickel sulphide deposits required for smelting and environmental mitigation and large amounts of energy and acid required for the processing of laterite nickel deposits.

- Four new properties north of Decar which cover coincident ultramafic rocks and aeromagnetic high anomalies have been staked and are owned 100% by First Point.

- Discovery of a third large target at Decar, the Van Zone, in addition to the Sid and Baptiste Zones significantly increases the size of the known mineralization.

Peter Bradshaw, Ph.D., P. Eng., is the Qualified Person as defined by National Instrument 43-101 and is responsible for the contents of this release.

First Point is a Canadian precious and base metal exploration company focused on the Americas.


Peter M.D. Bradshaw, President

The TSX Venture Exchange has not reviewed, nor accepts responsibility for the adequacy or accuracy of this news release.

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