First Point Minerals Corp.
TSX VENTURE : FPX

First Point Minerals Corp.

September 29, 2010 09:00 ET

First Point Releases Additional Assay Results From Baptiste Target, Decar Nickel-Iron Alloy Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 29, 2010) - First Point Minerals Corp. (TSX VENTURE:FPX) ("First Point" or the "Company") is pleased to announce assay results for diamond drill Holes 3 through 7 at the Baptiste target at the Decar Nickel-Iron Alloy property, located northwest of Fort St. James, British Columbia, Canada.

Averaged Alloy Nickel Assay Results
Hole # Target Area Depth (to EOH)** Interval Ni in Alloy  
1* Central 3.1 to 321.5 m 318.4 m 0.145 %
2* Central 6.5 to 305.5 m 299.0 m 0.107 %
3 West 47.2 to 336.0 m 288.8 m 0.144 %
4 West 33.8 to 93.0 m 59.2 m 0.108 %
5 East 14.3 to 236.0 m 221.8 m 0.105 %
6 East 12.2 to 340.5 m 328.3 m 0.109 %
7 Central 3.1 to 71.0 m 68.0 m 0.130 %
 
* – Results from Holes 1 & 2 were detailed in a news release dated September 22, 2010.
** - All values are from the top of the bedrock to the end of hole (EOH)

Each of the nickel in alloy (or "alloy nickel") results above (both terms refer to nickel that is present in the form of nickel-iron alloy) is an average for the whole hole, excluding minor, thin, post-mineral dykes. Unconsolidated overburden at the top of the drill holes ranged from 3.1 to 47.2 metres in depth on the Baptiste target. This translates to a vertical thickness of overburden ranging from less than 2 to 37 metres, and averaging approximately 11 metres. All nickel-iron alloy mineralization is hosted in ultramafic rocks and all seven holes ended while still within this mineralization.

Dr. Ron Britten, First Point's Vice President of Exploration, said, "These results from the Baptiste target are very encouraging, demonstrating very consistent nickel in alloy values throughout the full length of all seven holes. Overburden is relatively thin and unconsolidated and is not likely to represent an impediment to development of the project. These results bode very well for future exploration potential in this target as these holes were widely spaced over a distance of 1,600 meters." (Refer to the drill hole location map on the Company's web site at www.firstpointminerals.com.)

Stated Dr. Peter Bradshaw, President of First Point Minerals, "Decar represents an ideal 'porphyry nickel' bulk tonnage open pit target, equivalent in mining method to the many successful porphyry copper deposits in British Columbia. In addition this style of mineralization, Decar has the distinct advantage that it contains no sulphur and, as such, a concentrate of the nickel-iron alloy could potentially be sold directly to a steel mill, without smelting and its inherent costs. The absence of sulphides also has significant benefits regarding potential environmental impacts and associated mitigating costs of mining such a property."

Holes 1, 3 and 7 from the central and west areas of the Baptiste target contained the highest average grades at 0.130% to 0.145% nickel in alloy. These higher values generally correlate with coarser-grained nickel-iron alloy that ranges from 50 to 400 microns in size. Alloy nickel values ranged from 0.086% to 0.174% in Hole 1, from 0.093% to 0.191% in Hole 3, and from 0.083% to 0.164% in Hole 7, with a single sample in Hole 7 at 0.210%.

The slightly higher alloy nickel grade and coarser grains in the central and west areas of the Baptiste target represent homogenous mineralization that is prime material for the planned mechanical mineral processing test work. The average alloy nickel grade was 0.132% for Holes 1, 2, 3 and 7, which represent this area, compared to an average alloy nickel grade of 0.123% for all seven holes.

Hole 4 was collared adjacent to Hole 3, but was drilled to the northwest rather than northeast. Core from this hole contained coarse sized nickel-iron alloy grains but the average of the assay results was 0.108% alloy nickel. Alloy nickel values in Hole 4 ranged from 0.075% to 0.129%.

Holes 2, 5 and 6, from within the central and east areas of the Baptiste target, averaged 0.107%, 0.105% and 0.109% nickel in alloy, respectively, and ranged from fine to coarse grains of nickel-iron alloy. The bottom of Holes 2 and 6, and the top of Hole 5 contained coarser-grained nickel-iron alloy. Alloy nickel values ranged from 0.031% to 0.170% in Hole 2, from 0.072% to 0.140% in Hole 5, and from 0.074% to 0.145% in Hole 6. The bottom 106 metres of Hole 6, from 234 to 340 metres, averaged 0.118% nickel in alloy.

Average total nickel, which includes nickel in both alloy and silicates, ranged from 0.221% to 0.239% in Holes 1 to 7, and averaged 0.228% for all samples from all seven holes.

Samples were collected by cutting a one-metre interval of drill core in half within each five-metre interval down each drill hole. The remaining core has been retained for future mechanical mineral process testing. The samples were sent to Acme Analytical Laboratories Ltd. in Vancouver ("Acme," an ISO Certified laboratory) for total and alloy nickel analysis, as described in news release dated September 22, 2010. The commercially certified alloy-selective analytical method for alloy nickel analysis was developed for the exclusive use of, and is proprietary to, First Point.

Once pending assays are received for the remaining drill holes at the Sidney target, core samples will be selected for mechanical mineral processing test work to be carried out by Cliffs Natural Resources Exploration Canada ("Cliffs"), a wholly-owned subsidiary of Cliffs Natural Resources Inc., an international mining and natural resources company headquartered in the United States.

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

About First Point

First Point Minerals Corp. is a Canadian base and precious metal exploration company. The Company's flagship Decar property hosts naturally formed nickel-iron alloy mineralization.

On behalf of First Point Minerals Corp.

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

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of the British Columbia Securities Act, the Alberta Securities Act and the Ontario Securities Act. 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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