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Re: News Releases - Monday, August 20, 2012
First Point Minerals Begins Drilling Wale Nickel Alloy Target
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Vancouver, August 20, 2012 -- First Point Minerals Corp. (FPX-TSX.V)
("First Point" or the "Company") is pleased to announce that
exploration drilling has started at the 100%-owned Wale nickel-iron
alloy prospect in northern British Columbia.
A proposed drill program of up to 8 widely-spaced holes totalling about
2,800 metres will test a 3-kilometre-long target area of the Wale
property. The holes are being positioned based on last year's surface
sampling results, along with visual estimates of grain size and
abundance of the mineral awaruite -- a naturally occurring nickel-iron
alloy -- from this year's recent detailed rock sampling and mapping
work.
The Wale property is located 45 kilometres east of Dease Lake (a town
on the Stewart-Cassiar Highway 37) and covers 119 square kilometres in
the Stikine Ranges of northern B.C. The southern portion of the
property can be accessed from a rough mining road and by trails.
A large zone of nickel-iron alloy mineralization was discovered during
a preliminary regional exploration program in the summer of 2011 in
which about 50% of the property was explored. This northwest-trending
zone measures roughly 3.1 kilometres in length and 670 to 1,060 metres
wide. It is defined by 113 bedrock samples that average a grade of 945
parts per million ("ppm") (or 0.09%) nickel-in-alloy, based on a
cut-off of 500 ppm (0.05%).
Klow
Five holes totalling 1,579 metres were completed during a first pass of
drilling at the Klow nickel-iron alloy property, located 120 kilometres
northwest of Fort St. James and 55 kilometres north of the Decar nickel
project in central B.C. The widely-spaced drill holes tested a
600-metre long portion of the target area. The mineralized sections of
the holes have been sampled and shipped to Acme Analytical Laboratories
Ltd. in Vancouver for nickel-in-alloy analysis. Results are expected in
September.
Dr. Ron Britten, P. Eng., First Point's Qualified Person under NI
43-101, 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 operating worldwide. For more information, please
view the Company's website at www.firstpointminerals.com or contact
Jim Gilbert, President and CEO, or Rob Robertson, VP Corporate
Development, at (604) 681-8600.
On behalf of First Point Minerals Corp.
"Jim Gilbert"
Jim Gilbert, President and CEO - TSX Venture Exchange: FPX
Suite 906 -- 1112 West Pender Street
Vancouver, BC Canada V6E 2S1
Tel: 604.681.8600 Fax: 604.681.8799
e-mail: info@firstpointminerals.com
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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Copyright (c) 2012 FIRST POINT MINERALS CORP. (FPX) All rights
reserved. For more information visit our website at
http://www.firstpointminerals.com/ or send
mailto:info@firstpointminerals.com
Message sent on Mon Aug 20, 2012 at 5:05:00 AM Pacific Time
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