=======================================================================
Re:   News Release - Tuesday, July 26, 2011
      First Point Minerals Defines Nickel-Iron Alloy Drill Target on
      its 100%-Owned Klow Property in Central B.C.
=======================================================================

Vancouver, July 26, 2011 - First Point Minerals Corp. (FPX-TSX.V)
("First Point" or the "Company") is pleased to announce that based on
regional exploration field work currently in progress on its 100%-owned
nickel-iron alloy properties in central and northern British Columbia,
the Company has successfully outlined a drill-ready target on the Klow
property.

First Point is planning an initial 2,000-metre drilling program to test
this new nickel-iron alloy target which, depending on the length of the
permitting process, could be drilled either this fall or late spring of
next year.

"The Klow property hosts significant nickel-iron alloy mineralization.
The drill target is comparable at surface in size and grade to the
Baptiste zone at our flagship Decar joint venture project, currently
being drilled by Cliffs Natural Resources," said Ron Britten, First
Point's Vice-President of Exploration. "Klow could be a very
interesting and exciting drill program."

The Klow property is located 135 kilometres north of Fort St. James and
55 kilometres north of the Decar project. Based on the results of this
year's geological mapping and surface sampling program, First Point has
staked an additional 2,093 hectares at Klow, which now totals 5,197
hectares in size. The Company has also staked a new claim group, called
the Nat property, totaling 3,537 hectares to the north of Klow. An
all-season public road runs along the eastern margin of the Klow
property, linking the town of Fort St. James to the village of Takla
Landing. An active CN rail line is located about 30 kilometers west of
Klow, near Takla Landing. 

During preliminary regional exploration work in 2009 and 2010,
mineralized showings of nickel-iron alloy were discovered on the Klow
property at the lower reaches of the main ridge where bedrock exposure
is limited due to overburden cover.

The main zone of nickel-iron alloy mineralization at Klow measures at
least 950 meters long and 270 meters wide, based on the results of
surface rock-chip samples collected from sparse outcrops of bedrock
exposed on shallow-to-moderately dipping slopes. Thirteen samples
returned values ranging from 455 to 1,075 ppm (0.05 to 0.11%)
nickel-in-alloy, for an average of 780 ppm (0.08%). Eleven additional
angular rock float samples taken in the same area show a similar range
of values, reaching a high of 1,274 ppm (0.13%) nickel-in-alloy.

This newly defined zone exhibits a fine-to-coarse grained range of
nickel-iron alloy sizes from 50 to greater than 600 microns, similar to
Decar. Rock samples from this area also assayed up to 4.9% iron,
primarily as magnetite, and 1,272 ppm (0.13%) chromium, occurring
mainly as ferrichromite/chromite. Both of these minerals are also
present at Decar.

There is significant potential to expand the southern half of the
target zone, some 1,750 metres in an east-west direction, where dense
vegetation and overburden obscures the area. Several widely spaced rock
samples from this area contained coarse nickel-iron alloy grains
measuring greater than 400 microns in size, with assay values ranging
between 691 to 825 ppm (0.07-0.08%) nickel-in-alloy.

As part of a minimum $2 million worldwide search for "naturally
occurring stainless steel" nickel-iron alloy targets in 2011, First
Point is spending at least $370,000 on a regional sampling and mapping
program on its seven 100%-owned nickel-iron alloy properties in central
and northern British Columbia.

Dr. Ron Britten, P. Eng., First Point's Qualified Person under
NI43-101, 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. The company's flagship Decar nickel property in
central British Columbia is the subject of an exploration and
development program being funded by Cliffs Natural Resources, an
international mining and natural resources company headquartered in the
United States. For more information, please view the Company's website
at  www.firstpointminerals.com or contact Peter Bradshaw, President and
CEO, or Rob Robertson, VP Corporate Development, 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: 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.

=======================================================================
Copyright (c) 2011 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
=======================================================================
.