First Point Minerals Corp.
TSX VENTURE : FPX

First Point Minerals Corp.

June 10, 2008 13:04 ET

First Point Announces Results of 1,040 g/t Silver and 3.2 g/t Gold Over 1.2 Meters at the Candelaria Target, Corralitos Property, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 10, 2008) - First Point Minerals Corp. (TSX VENTURE:FPX) ("First Point") is pleased to announce results of underground sampling of mineralized veins in the Candelaria Target area of the Corralitos Property, Mexico. At Candelaria a maximum value of 1,040 g/t silver and 3.2 g/t gold over 1.2 meters was returned from vein 1 which, together with significant results from several other veins in the Candelaria area, are listed in the table below. Results for the Noria Target located 3 kilometers to the west of Candelaria were announced May 28th.

The table below shows significant continuous rock channel sample results for veins #1, 2, 3, 7, 8, 10 and 13a & b (numbered roughly north to south) located in an area measuring 1.6 by 2.2 kilometers. The final column of the table lists the total number of channel samples collected across each vein. Other vein rock results, not shown in the table, contain numerous anomalous gold and silver values. Additional underground sampling will be completed if ground conditions allow.



Selected Channel Samples for Candelaria Veins, Corralitos Property, Mexico
--------------------------------------------------------------------------
True Gold Total No.
Width Gold Silver Equivalent Samples
Vein No. Sample ID (meters) g/t g/t (i)g/t Collected
--------------------------------------------------------------------------
Vein 1 08DAVC037 1.2 3.1 1040 23.9 7
---------------------------------------------------
08RMB056 0.5 0.8 123 3.3
---------------------------------------------------
08DAVC024 2.5 1.0 18 1.4
---------------------------------------------------
08DAVC028 1.2 0.6 100 2.6
--------------------------------------------------------------------------
Vein 2 08RMB055 1.5 2.8 88 4.6 13
---------------------------------------------------
08RMB054 1.3 0.7 8 0.9
---------------------------------------------------
07JLM189 2.0 8.7 68 10.1
---------------------------------------------------
08DAVC033 2.5 3.4 17 3.7
---------------------------------------------------
07JLM188 2.0 3.3 183 7.0
---------------------------------------------------
08DAVC029 1.8 6.7 50 7.7
--------------------------------------------------------------------------
Vein 3 07RMB188 6.0 1.1 30 1.7 15
---------------------------------------------------
07JLM186 2.5 0.7 78 2.3
---------------------------------------------------
08JLM128 1.4 0.1 149 3.1
---------------------------------------------------
08JLM123 1.0 2.1 55 3.2
---------------------------------------------------
08JLM122 1.2 0.2 252 5.2
---------------------------------------------------
08JLM121 1.0 0.1 177 3.6
---------------------------------------------------
08JLM120 0.5 0.1 235 4.8
--------------------------------------------------------------------------
Vein 7 08DAVC041 3.4 1.0 98 3.0 8
---------------------------------------------------
08DAVC046 1.0 4.5 105 6.6
---------------------------------------------------
08DAVC062 0.9 2.9 93 4.8
---------------------------------------------------
08JLM159 1.0 1.2 101 3.2
---------------------------------------------------
08JLM158 1.1 2.1 504 12.2
--------------------------------------------------------------------------
Vein 8 08RMB071 0.6 1.8 503 11.9 4
---------------------------------------------------
08RMB072 1.2 2.8 147 5.7
---------------------------------------------------
08DAVC045 2.9 4.0 219 8.4
---------------------------------------------------
08RMB070 1.0 4.9 109 7.1
--------------------------------------------------------------------------
Vein 10 07JLM381 1.0 1.4 115 3.7 10
---------------------------------------------------
08JLM017 1.4 0.1 153 3.2
---------------------------------------------------
07JLM198 0.6 0.8 149 3.8
--------------------------------------------------------------------------
Vein 13a 08DAVC057 1.3 0.5 93 2.4 5
---------------------------------------------------
08DAVC058 1.0 0.9 634 13.6
---------------------------------------------------
08DAVC059 1.5 0.3 99 2.3
---------------------------------------------------
08DAVC061 1.7 2.7 42 3.5
--------------------------------------------------------------------------
Vein 13b 08RMB061 1.0 1.4 30 2.0 7
---------------------------------------------------
08DAVC056 1.5 3.4 87 5.1
---------------------------------------------------
07JLM233 5.0 2.3 78 3.9
---------------------------------------------------
08RMB060 2.0 1.8 18 2.2
---------------------------------------------------
08RMB059 0.6 0.8 41 1.6
---------------------------------------------------
08RMB058 0.4 1.2 114 3.5
---------------------------------------------------
08DAVC055 2.0 2.7 44 3.6
--------------------------------------------------------------------------
Gold equivalent values in the table are based on the price of Gold
(US$900/oz) and silver (US$18/oz). Metallurgical recoveries for gold or
silver are unknown so recovery was not taken into consideration for the
calculations.


Vein 1 returned an impressive 3.2 grams/tonne (g/t) gold and 1,040 g/t silver over 1.2 meters true width from a sample taken about 1 meter below the edge of a shallow but steep decline at the northeast end of the vein. This is the highest silver value known to have been returned from the property. Other results shown in the table are from relatively evenly spaced samples over the 272 meters strike length of vein 1.

Vein 2 returned results of 8.7 g/t gold and 68 g/t silver over 2 meters and 3.3 g/t gold and 183 g/t silver over 2 meters from two shallow pits located 37 meters apart. The total known length of the vein is 580 meters and it averages 2.0 meters in width with significant values as noted in the table. The central and western end of the structure represent the areas with the most exploration potential as there has not been any previous mining development in these areas and float samples at surface contain up to 229 g/t silver off the west end of the vein.

Vein 3 which strikes north-northeast has one of the largest underground workings on the property and has been mined as a series of drifts/stopes totaling 450 meters in length, 1 to 3 meters in width and perhaps over 100 meters of vertical extent. Ten channel samples taken from some remnant pillars in the drifts/stopes returned up to 2.1 g/t gold and 252 g/t silver over 1.0 to 1.2 m as shown in the table with the higher values returned from the 157 meters south-southwestern end of vein 3.

Vein 7 has a surface strength length of 425 meters and averages 1.7 meter true width. The maximum value of 2.1 g/t gold and 504 g/t silver is across 1.1 meters as shown in the table.

Vein 8 is at least 210 meters in strike length and channel samples taken from this vein range from 1.8 to 4.9 g/t gold and 109 to 502 g/t silver over 1 to 3 meters.

Additional underground openings will be sampled in the next round of work on both veins 7 and 8. As well, surface work will be completed in the area of the projections of the intersections of veins 7 and 8 with veins 3 and 4.

Vein 10 is about 1200 meters in strike length and averages 2 meters in width. Surface grab samples returned up to 2.7 g/t gold and 390 g/t silver, whereas channel sampling from shallow stopes returned 115 to 153 g/t silver with a maximum of 1.4 g/t gold over 1.0 to 1.4 meters widths.

Veins 13 a and b are sub-parallel and about 50 meters apart. They have a 200 meter strike length, vary from a 30 to 50 degree dip to the northwest and range from 0.4 to 5.0 meters in width and have returned results up to 3.4 g/t gold and 634 g/t silver.

The rock channel sampling had been recently completed in many of the accessible underground workings on the Candelaria veins that had been mined prior to 1910 when all mining ceased around the beginning of the Mexican Revolution. The veins strike northeast or north-northeast, are inclined steeply to moderately to the northwest and range from 100 to 1,200 meters in strike length and one to three meters in width. Twelve of the currently known 15 veins are marked by shallow exploration pits and deeper workings (shafts, adits and stopes) that are up to 100 meters deep. Many of the historic workings are still accessible but because of the steep dip of the veins ropes and climbing gear are required for sampling and mapping. A number of underground workings on several veins were blocked by rock falls, simply too dangerous to access, or flooded. Rock channel samples were taken at 50 to 100 meters intervals along stopes or drifts wherever possible up to a maximum vertical depth of 100 meters in declines or shafts.

The ability to map the accessible underground workings and to take continuous channel samples across the veins is of enormous value in advancing the project and will be used to estimate the historical grade and the limits of historic mining. This information will be plotted on longitudinal sections and used to help guide drilling below the veins and on vein projections along strike.

The Candelaria veins are located 3 kilometers east of the Noria target area where recently released underground Noria channel sample results included 24.8 g/t gold over 1.8 meters true width. Future work for the Corralitos Property will involve an induced polarization geophysical survey at the Noria target area, additional underground and surface sampling at the Candelaria vein targets, including, particularly veins 1, 2, 7, 8 and 13a and b and the 13 extension. A follow-up drill program is planned in the next 6 months to target both areas.

As announced previously First Point holds the Corralitos Property under option from Teck Cominco Limited's Mexican subsidiary, Minera Teck Cominco, S.A. de C.V. "MTC". The Corralitos Property exploration work was supervised by Ron Britten, P.Eng. All samples were submitted to International Plasma Labs Ltd. (IPL) preparation lab in Hermosillo, Mexico and ICP-MS analytical work was completed at IPL Richmond, BC. Samples containing greater than 1 g/t gold were further analyzed by fire assay and greater than 100 g/t Ag were analyzed by ICP aqua regia extraction using 30 gram samples.

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

FIRST POINT MINERALS CORP.

Peter M.D. Bradshaw, President

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

Contact Information