First Point Minerals Corp.
TSX VENTURE : FPX

First Point Minerals Corp.

November 14, 2011 08:00 ET

First Point Minerals Stakes Land Position in Australia Covering Nickel-Iron Alloy Mineralization

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2011) - First Point Minerals Corp. (TSX VENTURE:FPX) ("First Point" or the "Company") is pleased to announce that it has discovered promising showings of anomalous nickel-iron alloy mineralization while exploring in New South Wales, Australia.

Based on the results of early-stage surface sampling, First Point has staked the 100%-owned Light property, covering 16,300 hectares along the northern end of the Coolac ultramafic complex, located 87 kilometres northwest of Canberra in the Australian Capital Territory. Preliminary surface rock sampling has returned anomalous nickel-in-alloy values of 200 to 400 parts per million ("ppm"), with visible disseminated grains of nickel-iron alloy ranging from 20 to 100 microns in size.

The Coolac ultramafic complex measures 25 kilometres long and up to 2 km wide, and consists of serpentinized peridotite that has been structurally deformed by a north-trending, regional-scale shear zone. Gundagai, a rural town with a population of about 2000, is located on the Hume highway and is 13 kilometres southwest of the property. Paved and gravel roads access portions of the property.

First Point will be conducting detailed follow-up sampling and mapping on the Light property over the next few months. "We are exploring for large-scale, coarse-grained nickel-iron alloy targets containing 800 to 1,000 ppm nickel-in-alloy," said Dr. Ron Britten, First Point's Vice-President of Exploration.

Rock samples were sent to Acme Analytical Laboratories Ltd. in Vancouver ("Acme," an ISO Certified Laboratory) for nickel-in-alloy and total nickel analysis, as described in the November 7, 2011 news release.

Dr. Ron Britten, P. Eng., First Point's Qualified Person under NI43-101, has reviewed and approved the analytical content of this news release.

About First Point

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

On behalf of First Point Minerals Corp.

Peter Bradshaw, Ph.D., P. Eng., President

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

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

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