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Re:   News Releases - Thursday, January 19, 2012
      First Point Minerals Discovers New District-Scale Nickel-Iron
      Alloy Mineralization at the Wale Property in BC
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Vancouver, January 19, 2012 -- First Point Minerals Corp. (FPX-TSX.V)
("First Point" or the "Company") is pleased to announce that it has
discovered widespread nickel-iron alloy mineralization while exploring
the 100%-owned Wale property in northern British Columbia.

The mineralized footprint at Wale includes a 10-kilometer-long stretch
of anomalous grade, disseminated nickel-iron alloy mineralization.
"Wale is one of the best properties we have found to date, and is
comparable to Decar in both scale and stage of exploration at the time
Decar was optioned to Cliffs Natural Resources in November 2009," said
Dr. Ron Britten, First Point's Vice-President of Exploration.

This northwest-southeast trending zone of nickel-iron alloy
mineralization measures roughly 3.1 kilometres long and from 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 threshold of 500 ppm. Within this main major zone, First Point has
defined two highly prospective drill targets: Head and Eagle -- based
on elevated nickel-in-alloy results and coarser nickel-iron alloy grain
sizes.

The Head target, measuring 780 metres in length and up to 460 metres
wide, is located on the crest of a north-trending ridge. It is defined
by 12 rock sample sites that returned grades in the range of 460 to
1,590 ppm (0.05% to 0.16%), for an average of 1,065 ppm (0.11%)
nickel-in-alloy. All of these samples contain coarse grains of
nickel-iron alloy with a maximum size of between 200 and 500 microns
(or 0.2 and 0.5 mm). First Point believes that surface sample assay
results of greater than 500 ppm nickel-in-alloy and coarse alloy grain
sizes of more than 100 microns (0.1 mm) are significant parameters to
evaluate early-stage exploration prospects.

The Eagle target is located on the flank of a northwest-trending ridge
and measures 2.3 kilometres long and varies from 120 to 470 metres
wide. It remains open to the west and northwest. Twenty-nine rock
samples averaged a grade of 946 ppm (0.09%) nickel-in-alloy within a
range of 504 and 1,484 ppm (0.05% to 0.15%). All of these samples
contain coarse nickel-iron alloy maximum grains that reach from 200 to
600 microns (0.2 to 0.6 mm) in size.

The Wale property is located 50 kilometres east of Dease Lake (a town
on the Stewart-Cassiar Highway 37) and covers an area of 119 square
kilometres. The nickel-iron alloy mineralization is hosted in a
moderately serpentinized, fine-grained ultramafic that is bounded by
the major Nahlin and Eaglehead faults. It is accessible by helicopter,
while a rough road provides access to the southern margin of the
claims.


About 50% of the property was explored in 2011, which involved mapping
and the collection of 464 rock samples, of which 219 samples contain
higher than 500 ppm nickel-in-alloy and average 5.2% iron, occurring
primarily as magnetite, and 1,610 ppm (0.16%) chromium. Additional
analyses, petrographic work and preliminary Davis Tube magnetic
separation testing are anticipated over the winter months. 

First Point will continue to explore the remainder of the Wale property
in 2012 and follow-up with detailed mapping and sampling on the known
targets in preparation of a proposed 2,000-metre drilling program later
this summer.

Orca and Letain Properties

The Company also recently staked the Orca property, which covers 64
square kilometres west of Wale, based on a mapped large ultramafic body
and geochemical sample results. Orca is located about 35 kilometres
east of Dease Lake and 16 kilometres northwest of Wale, and will be the
focus of an aggressive exploration program in 2012.

During the 2011 field season, First Point has further defined a
nickel-iron alloy target at the Letain property through mapping and
rock sampling. The 100%-owned Letain property is 39 square kilometres
in size and covers part of the same ultramafic belt as Wale and Orca.
It is situated about 77 kilometres east of Dease Lake and 34 kilometres
southeast of Wale.

The main target at Letain measures approximately 820 metres in length
as defined by eight rock sample sites containing disseminated
nickel-iron alloy mineralization. It is located along a narrow
east-trending ridge. The width of the target is obscured by talus cover
that flanks both sides of the ridge.

The samples range in value from 791 to 1,964 ppm (0.08% to 0.20%),
averaging 1,420 ppm (0.14%) nickel-in-alloy. Fine to coarse grains of
nickel-iron alloy reach up to 50 to 200 microns (0.05 to 0.2 mm) in
size. The samples will be reanalysed using Davis Tube magnetic
separation to confirm whether the fine-grained nickel-iron alloy can be
easily recovered magnetically. Additional field work planned for Letain
in 2012 will depend on the magnetic recovery results.  

Rock samples, each averaging about 1 kilogram, were taken on 200- to
300-metre spaced sites where outcrop was available along traverses.
These samples were delivered to Acme Analytical Laboratories Ltd. in
Vancouver ("Acme," an ISO Certified Laboratory) for nickel-in-alloy and
total nickel analysis, using the analytical procedures discussed in the
Company's November 7, 2011 news release.

In summary, First Point currently holds a 100% interest in eight
different properties in British Columbia, Yukon and Australia,
including drill defined targets on the Wale, Mich and Klow properties.
First Point has dropped the Wheat and Bodine properties in British
Columbia and the Joe property in Oregon, based on disappointing
exploration results from the 2011 regional field program.

Dr. Ron Britten, P. Eng., First Point's Qualified Person under NI
43-101, has reviewed and approved the analytical content of this news
release.

About First Point
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 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.

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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 Thu Jan 19, 2012 at 8:04:29 AM Pacific Time
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