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Re: News Releases - Monday, June 29, 2009
Two Directors Added to First Point Minerals Board at the AGM,
Recent Developments at the Decar Nickel Alloy Property Presented
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At First Point's AGM held on June 25th in Vancouver two new directors
were elected to the Board of Directors.
Mr. Thomas W. Beattie has over 30 years of international experience
dealing with the business aspects of foreign exploration and corporate
and commercial transactions. He has held senior management positions
with international mining and mineral exploration companies and was an
officer and director of several publicly traded companies. He is a
former Vice-Chair and Director of the Canadian Corporate Counsel
Association of the Canadian Bar Association and former Vice-Chair of
the Corporate Counsel Section of the BC Branch of the CBA. He holds an
LL.B. and a B.Comm. from the University of British Columbia.
Dr. John A. McDonald was the V.P. Exploration for both Diamondex and
Winspear Diamonds Inc., where he and his technical team were directly
responsible for the discovery and development of the Snap Lake diamond
deposit. De Beers acquired Winspear's majority ownership in the Snap
Lake deposit for $305 million in 2000. Prior to that he worked for 10
years for Esso Minerals Canada as Chief Geologist and Exploration
Manager, Western Canada and was also the founding Director for the
Mineral Deposit Research Unit (MDRU) at the University of British
Columbia, one of the most successful mining industry/university
co-operative ventures in the world. Prior to working in industry and
at MDRU his career included five years of mineral deposit research with
CSIRO, Australia and a 13-year tenure as a university professor at the
University of Saskatchewan, Saskatoon and Australian National
University, Canberra, Australia. In 2000, as recognition for his
contribution to the industry, Dr. McDonald received the HH "Spud"
Huestis award for excellence in prospecting and mineral exploration
from the B.C. and Yukon Chamber of Mines. On January 30, 2008, he also
received the Hugo Dummett Diamond Award for Excellence in Diamond
Exploration and Development.
Dr Bradshaw, President of First Point said "I am truly delighted that
these two capable individuals with very successful careers in our
industry have agreed to join the board. Their addition to the board is
a great asset". Messrs. Beattie and McDonald join Messrs. Peter
Bradshaw, John Gammon, Christopher Mitchell, William Myckatyn and
Robert Watts, all of whom were re-elected. The shareholders also
ratified and approved the Company's amended Incentive Stock Option Plan
and re-appointed DeVisser Gray as the Company's auditors.
Also at the AGM, Dr. Ron Britten, VP Exploration, and Dr. Peter
Bradshaw, CEO, provided an updated presentation on the Company's
nickel-iron alloy exploration programme. An updated presentation can
be seen at
http://www.firstpointminerals.com/i/pdf/Decar_Presentation.pdf.
The presentation included:
- The Decar Property contains the mineral awaruite, a nickel-iron alloy
that averages 75% nickel. The alloy is very magnetic and heavy.
- First Point is investigating magnetic separation, gravity separation
and leaching to determine which would be the most cost effective method
to recover the nickel.
- Awaruite contains no sulphur and consequently a concentrate could be
shipped directly to steel mills without incurring smelting and refining
costs.
- There would be minimal environmental problems and no acid mine
drainage in this type target because of the absence of sulphur in the
host rock containing the nickel-iron alloy.
- Minimum target size of 300 million tonnes of widely disseminated or
dispersed mineralization would be mined by open pit mining at a low
strip ratio and at a mining cost similar to a large porphyry copper
deposit (which in British Columbia is about $2/tonne).
- The economics of nickel-iron alloy deposits are potentially very
favourable as they avoid the significant cost associated with nickel
sulphide deposits required for smelting and environmental mitigation
and large amounts of energy and acid required for the processing of
laterite nickel deposits.
- Four new properties north of Decar which cover coincident ultramafic
rocks and aeromagnetic high anomalies have been staked and are owned
100% by First Point.
- Discovery of a third large target at Decar, the Van Zone, in addition
to the Sid and Baptiste Zones significantly increases the size of the
known mineralization.
Peter Bradshaw, Ph.D., P. Eng., is the Qualified Person as defined by
National Instrument 43-101 and is responsible for the contents of this
release.
First Point is a Canadian precious and base metal exploration company
focused on the Americas. For more information, please view the
Company's web site at 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) 2009 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 Jun 29, 2009 at 2:53:10 PM Pacific Time
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First Point Minerals Corp
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EXPLORATEUR |
CODE : FPX.T |
ISIN : CA3359371083 |
CUSIP : 335937108 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
First Point Min. est une société d’exploration minière d'or et d'argent basée au Canada. First Point Min. détient divers projets d'exploration au Honduras. Ses principaux projets en exploration sont CORRALITOS au Mexique, DECAR et JOE au Canada et TULE et CAMPORO au Honduras. |