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Re: News Releases - Wednesday, February 13, 2008
First Point and University of British Columbia sign Collaborative
Agreement to Study Extraction of Nickel from Alloys
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First Point has expanded its metallurgical test work into the recovery
of nickel from rocks containing naturally occurring nickel-iron alloys
and is one of the first mineral exploration companies to recognize the
potential benefits for this unique style of nickel mineralization.
First Point has entered into a Collaborative Agreement with the
University-Industry Liaison Office at UBC with the objective of this
work is to identify the most commercially effective method to extract
nickel from naturally occurring nickel-iron alloys. The testing and
research is being conducted at the Department of Materials Engineering
at the University of British Columbia (UBC) by Doctors David Dixon and
Adam Fischmann of that Department, who were also recently appointed to
First Point's Technical Group (news release of February 5, 2008).
Equally important, First Point has the exclusive first right to enter
into a licensing agreement with UBC for any patentable process that
arises from this work where the majority of the nickel ore consists of
metallic nickel and nickel-iron alloy minerals.
First Point initiated an exploration program targeting this type of
nickel mineralization in 1997, however, this work was shelved due to
the prevailing low nickel prices. With the current increase in nickel
price over the past two years, First Point has resumed and
significantly expanded the exploration and related metallurgical work,
resulting in the acquisition of five properties in North America. The
properties all cover portions of ultramafic complexes where nickel
occurs principally in the form of nickel-iron alloys in contrast to
sulphide or oxide deposits which are currently the principal ores of
nickel.
There are several benefits to explore for nickel-iron alloy targets.
These include: the naturally occurring alloy contains 70 to 75% nickel;
the high magnetic characteristic of the alloy could produce a high
grade concentrate; energy usage to recover nickel in alloys would be
much lower than for either nickel sulphide or, in particular, nickel
oxide (laterite) deposits; the lack of suphides in alloy targets
negates the problems of acid mine drainage and related environmental
problems and, the nickel alloy targets would be similar in grade and
scale to open pit porphyry deposits.
First Point is a Canadian precious and base metal exploration company
focused on the Americas. For more information, please view the nickel
projects and precious metal projects in Central America in the updated
site www.firstpointminerals.com or phone Peter Bradshaw, President and
CEO, or Ron Britten, Vice-President of Exploration, at (604) 681-8600.
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
Tel: 604/681-8600
Fax: 604/681-8799
e-mail "firstpoint@firstpointminerals.com"
The TSX Venture Exchange has not reviewed, nor accepts responsibility
for the adequacy or accuracy of this news release.
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Copyright (c) 2008 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 Wed Feb 13, 2008 at 9:37:06 AM Pacific Time
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