Re: News Releases - Wednesday, March 19, 2008
First Point Minerals Expands Work in Nickel Properties on
Completion of a Private Placement
Peter M. D. Bradshaw, Ph.D., P. Eng., President and Chief Executive
Officer of First Point Minerals Corp. (TSXV: FPX) announces that,
further to its news release dated February 27, 2008 and subject to
regulatory acceptance, it has completed a non-brokered private
placement of 4.5 million flow-through shares ("FT Shares") at a price
of $0.11 per FT Share, for gross proceeds of $495,000. The FT Shares
are subject to a hold period of four months plus one day from March
18th. A Finder's fee has been paid to a registered dealer who assisted
in the private placement consisting of $34,650 in cash and $315,000
finder's warrants equal to 7% of the FT Shares sold. Each finder's
warrant entitles the holder to purchase one common share at a price of
$0.16 per share for a period of 12 months from March 18th.
The Company will use the proceeds from the private placement to expand
its exploration activities on its four bulk tonnage nickel properties
in Canada where nickel is present in the form of a highly magnetic
nickel-iron alloy. This work will include collection of bulk samples
for metallurgical testing and related petrographic analysis plus
expanded rock sampling.
Field work is also currently in progress on First Point's Joe nickel
property in the US and its Corralitos gold/silver property in Mexico.
First Point Minerals Corp. is a Canadian precious and base metal
exploration company focused on the Americas. For more information,
please view: www.firstpointminerals.com or phone Peter M.D. Bradshaw,
President and CEO, or Ron Britten, VP of Exploration, at (604)
FIRST POINT MINERALS CORP.
"Peter M.D. Bradshaw"
Peter M.D. Bradshaw, President - TSX Venture Exchange: FPX
Suite 906 -- 1112 West Pender Street
Vancouver, BC Canada V6E 2S1
The TSX Venture Exchange has not reviewed, nor accepts responsibility
for the adequacy or accuracy of this news release.
Copyright (c) 2008 FIRST POINT MINERALS CORP. (FPX) All rights
reserved. For more information visit our website at
http://www.firstpointminerals.com/ or send
Message sent on Wed Mar 19, 2008 at 2:39:21 PM Pacific Time