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Re: News Releases - Monday, August 09, 2010
First Point Completes First Two Holes at Decar Nickel-Iron
Property
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First Point Minerals Corp. (FPX-TSX.V) ("First Point" or the "Company")
is pleased to announce that the first two diamond drill holes have been
completed in the central portion of the Baptiste target at the Decar
property, northwest of Fort St. James, British Columbia. Both holes
were inclined 50 degrees to the north-northwest. 
 
Visual observations of the core from drill hole 1 show disseminated
nickel-iron alloy very similar in character to surface samples
previously collected at Decar, ranging from less than 50 to 300 microns
in size. Except for three thin gabbro dikes, the mineralization
visually extends from the drill collar, at surface, to the end of the
hole at 325 metres.
 
Hole 2 was drilled on the same cross section about 250 metres north of
hole 1. Again, based on visual observations, disseminated nickel-iron
alloy mineralization was intersected throughout the hole, to the end at
307 metres, with the exception of one 10.7 metre wide unmineralized
gabbro dike and three zones of strong fault gouge, breccias and
mylonite that ranged from 7.1 to 20.6 metres wide which did not contain
obvious nickel alloy. The nickel-iron alloy grain size range at the
top of hole 2 is comparable to hole 1. The remainder of hole 2
contains smaller nickel alloy grains that range from less than 50 to
200 microns in size. 
 
"We are very pleased with these initial drill holes and anticipate that
the larger grain size of the alloy mineralization found in holes 1 and
2 will be beneficial for physical recovery into a concentrate by
magnetic and gravity separation methods," said Ron Britten, VP
exploration. "The airborne magnetic survey data collected earlier in
the spring indicates up to two kilometre depths of highly magnetic
ultramafic units similar to those at Decar that host the nickel-iron
alloy mineralization. This interpretation is based on inverted data
processed by Mira Geoscience, a Vancouver-based geophysical consulting
group. The magnetic data suggests the potential for future deep
exploration."
 
Four additional drill holes in this planned program will test other
portions of the Baptiste target and two additional holes will test the
Sidney target, which is located two kilometres north and 600 metres
higher in elevation than the Baptiste target area. The target depth
for each of the six additional holes is approximately 300 metres.
 
Samples will be sent to ACME laboratories, Vancouver, for total nickel
and nickel alloy analyses. Core samples will also be sent to Cliffs
Natural Resources Exploration Inc. ("Cliffs") for detailed
metallurgical test work.
 
The fieldwork is being undertaken by First Point under a services
agreement with Cliffs. Cliffs can earn an initial 51% interest in a
joint venture on the Decar property by spending US$4.5million on the
property in four years, of which US$1million is a firm commitment in
this first year. For further details of the agreement, please refer to
First Point news releases dated November 13, 2009, and December 2,
2009.
 
Dr. Ron Britten, P. Geo., First Point's Qualified Person under
NI43-101, has reviewed and approved the technical content of this news
release. First Point emphasizes that interpretations presented in this
release are based purely on visual inspection of the core, and an
understanding of economic potential will not be possible before assay
results for samples from the current drilling program are available.
 
 
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 that is the subject
of an exploration program being financed by Cliffs Natural Resources
Exploration Canada Inc., a wholly-owned subsidiary of Cliffs Natural
Resources Inc. (NYSE: CLF) (Paris: CLF), an international mining and
natural resources company. For more information, please view the
Company's website at www.firstpointminerals.com or phone Brian
Soregaroli, Vice-President of Corporate Development, or Peter Bradshaw,
President and CEO, at (604) 681-8600.
 
On behalf of First Point Minerals Corp.
 
"Peter Bradshaw"
Peter Bradshaw, Ph.D., P.Eng., President & CEO
 
Suite 906 -- 1112 West Pender Street
Vancouver, BC Canada V6E 2S1
Tel: 604.681.8600 Fax: 604.681.8799
e-mail: firstpoint@firstpointminerals.com
 
I thought the above might be of interest to those invested in Cliffs or thinking of

 investing in Cliffs. I am invested in FPX.

Gleegee