=======================================================================
Re:   News Releases - Wednesday, November 12, 2008
      First Point Minerals Updates Nickel Alloy
      Exploration/Metallurgical Results from the Decar Property,
      British Columbia
=======================================================================

First Point's nickel alloy exploration and metallurgical program over
the past field season has defined exceptional large targets at the
Decar Property located near Fort St. James in central British Columbia.
 "We believe the nickel alloy targets at Decar define a new nickel
deposit type that has the potential of significantly lower mining and
processing costs as compared to traditional sulphide and oxide
(laterite) nickel deposits.  Recovery of metal from this deposit type
will also have very low environmental impact because of the absence of
sulphide minerals" said Ron Britten, Vice President of Exploration.

At Decar, the mineralization is contained within a specific alteration
assemblage in ultramafic rocks.  Samples tested to date range in
composition from 0.13% to 0.19% nickel alloy as defined by quantitative
scanning electron microscope (QEMscan), a method that can identify and
quantify all the minerals present in a rock including nickel-iron
alloys.  The composition of the alloy itself can vary from 63% to 83%
nickel, the rest being iron.  The nickel alloy is disseminated and
relatively uniformly distributed in the rocks and represents an
excellent target for large tonnage open-pit mining.  First Point's
target is a deposit of greater than 300 million metric tonnes which is,
for example, a cubic volume 500 meters on each side.

Two impressive targets, the Sydney and Baptiste Targets, have been
identified at Decar from samples taken at 50 to 200 meter intervals
where the alloy was recognized in available outcrop or exposures.
Coarse (0.1-0.2 millimeter size) nickel-iron alloy grains occur in the
Sydney Target which measures 500 by 400 meters where mineralization is
open to the east and south.  More than half of the larger Baptiste
Target which measures approximately 1,100 by 600 meters is covered by
glacial till.  These targets are 2 kilometers apart and occur in a much
broader area of finer grained alloy (<0.02 to 0.1 millimeter) based on
visual results that have been confirmed by probe and scanning electron
microscope data. 

The nickel-iron alloy is strongly magnetic and very heavy, with a
specific gravity (or density) of 8.2 as compared to other minerals in
the host rock that have an average specific gravity of about 2.7.
Initial bench scale metallurgical work using these properties has
indicated that the nickel alloy can be physically separated from
crushed and ground host ultramafic rocks using either magnetic or
gravity methods.  The costs associated with these process methods
compare very favorably with the high capital and operating cost methods
required to extract nickel  from sulphide or oxide (laterite) nickel
deposits or the flotation process to produce a concentrate used by
porphyry sulphide copper mines.

In addition to testing physical separation, First Point has entered
into a Collaborative Agreement with the University-Industry Liaison
Office at the University of British Columbia "UBC" to investigate
methods for heap leaching the nickel alloy or leaching nickel alloy in
concentrates.  Initial results are positive yielding significant
amounts of the nickel leached from the nickel alloy material.  First
Point has the first right to enter into a licensing agreement with UBC
for any patentable process that arises from this work.

Near-term future work at Decar will include more detailed metallurgy
testing using recently collected large samples to determine which of
the three available extraction methods are the most cost effective. 

The advantages of the nickel alloy targets include:

- low energy usage to recover the nickel as nickel alloy using one or
more of: magnetic, gravity and leaching methods versus the high cost
methods employed to exploit sulphide or oxide (laterite) nickel
deposits; 
- the nickel alloy contains 60% to 80% Ni,  the rest is iron which is
also salable;
- nickel alloy mineralization is distributed similarly to large open
pittable porphyry copper deposits and mining this type of nickel
deposit will have economics of scale similar to those achievable at
large open pit mines. 
- products recovered at the mine site may be able to be sold directly
to manufactures  thereby eliminating smelter costs;
- potential to leaching of concentrates on site to produce a higher
grade product is being investigated;
- environmental problems associated with acid mine drainage will not be
encountered due to the absence of sulphides found in nickel alloy
targets.

Initial economic analysis illustrates that the grade and potential
tonnage indicated at Decar and a refined metallurgical recovery process
could be very economic and profitable.

The Decar property is 100% owned by First Point.  Micro Labs, of North
Vancouver, determined the nickel and iron composition of the alloys in
selected samples by electron microscope probe.  The percent of nickel
alloy in the altered ultramafics samples were completed by SGS
Laboratories, Ontario, employing QEMscan.  Magnetic and gravity testing
was completed by PRI processing, Richmond and leaching experiments were
conducted at the Department of Metallurgy at UBC.  Ron Britten, PhD,
PEng, supervised the fieldwork and is responsible for the content of
this release. 

First Point is a Canadian precious and base metal exploration company
focused on the Americas.  Two other nickel projects also held 100% by
First Point, the Joe Nickel Property in Oregon and the Shulaps
property, southern British Columbia have been explored this past field
season and results are pending.  For more information, please view:
www.firstpointminerals.com where a new Nickel Alloy Decar Property
Presentation has been installed or phone Peter M.D. 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.

=======================================================================
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 Nov 12, 2008 at 1:20:05 PM Pacific Time
=======================================================================
.