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Re:   News Releases - Monday, March 29, 2010
      First Point Proposes a $5 Million Private Placement Financing
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This news release, required by applicable Canadian laws, is not for
distribution to U.S. newswire services or for dissemination in the U.S.


First Point Minerals Corp ("First Point") announces that it has
arranged for a private placement of up to 10,000,000 units at a price
of $0.50 per unit, for gross proceeds of up to $5 million.

"The net proceeds raised will be used to advance First Point's 100%
owned nickel alloy properties in North America as well as international
exploration for additional properties and for general corporate
purposes," said Peter Bradshaw, President and CEO. "In addition to the
Decar property, which is under option to Cliffs Natural Resources
(Cliffs), First Point has five nickel properties in British Columbia
and one in Oregon that require detailed surface exploration followed by
geophysical surveys depending on initial results.  Nickel-iron alloy
showings occur on three of these properties indicating significant
exploration potential.  Using proprietary technical methods First Point
is expanding its exploration activities by evaluating and acquiring
other nickel alloy targets in other parts of the globe.  In addition, a
1200 meter drill contract has been signed to test a gold Carlin-type
setting on the Corralitos Project in Mexico.  The drill program will be
completed in April-May and, if results are positive, the program will
be expanded."

On the Decar project current work includes studies on metallurgical
recoveries, using the existing samples, to define the most effective
method for recovery of the nickel-iron alloy.  Within the next four to
six weeks, the 2010 spring field season will commence, starting with
geophysical surveys and detailed mapping and sampling followed by drill
testing of the most significant targets.  Drill core will provide data
respecting the continuity of the grade and grain size of the alloy and
more importantly provide higher grade samples for metallurgical
testing.   The work at Decar is funded by Cliffs under the terms of the
option agreement that combines exploration management by First Point
and metallurgical testing by Cliffs.
 
The private placement will consist of one common share and one-half of
a non-transferable share purchase warrant.  Each whole warrant entitles
the holder to purchase, for a period of two years from the closing of
the private placement (the "Closing"), one common share at a price of
$0.65 per share for the first year and $0.80 per share for the second
year.

The warrants will contain a provision that will enable First Point to
force exercise of the warrants if, during the term of any unexercised
warrant commencing four months after the Closing, the common shares of
the Company trade on any exchange for a period of 20 consecutive
trading days at a price of $1.10 per share or greater.

Cliffs has stated its intention to subscribe for 15% of the issue as is
its right under the Decar property option agreement, as previously
announced.

First Point may pay a finder's fee or commission and issue
non-transferable broker warrants in connection with the private
placement in accordance with policies of the TSX Venture Exchange.

Any participation by insiders of First Point in the private placement,
which participation will be subject to the approval of independent
directors of the Company, will be on the same terms as arm's length
investors, and such insiders shareholdings in the Company will increase
as a result of any such participation.  The private placement may close
before 21 days following the filing of the material change report
regarding this announcement if management determines it necessary or
desirable for sound business reasons.

This press release, required by applicable Canadian laws, is not for
distribution to U.S. news services or for dissemination in the United
States, and does not constitute an offer of the securities described
herein. These securities have not been registered under the United
States Securities Act of 1933, as amended, or any state securities
laws, and may not be offered or sold in the United States or to U.S.
persons unless registered or exempt therefrom.

Closing, which is subject to acceptance of the TSX Venture Exchange, is
expected to occur on or about April 19, 2010.  The units issued by way
of private placement exemptions from prospectus requirements will be
subject to a four-month hold.
 
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 or phone Peter Bradshaw,
President and CEO, or Ron Britten, Vice-President of Exploration, at
(604) 681-8600.

On behalf of First Point Minerals Corp
"Peter Bradshaw"
Peter Bradshaw, Ph.D., P.Eng. President & 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 firstpoint@firstpointminerals.com


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

Statements in this release that are forward-looking statements are
subject to various risks and uncertainties concerning the specific
factors disclosed under the heading "Risk Factors" in the Company's
periodic filings with Canadian securities regulators. Such information
contained herein represents management's best judgment as of the date
hereof based on information currently available. The Company does not
assume the obligation to update any forward-looking statements.

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Copyright (c) 2010 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 Mar 29, 2010 at 6:07:34 AM Pacific Time
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