VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 9, 2010) - First Point Minerals Corp. (TSX VENTURE:FPX) ("First Point" or the "Company") is pleased to announce that the first two diamond drill holes have been completed in the central portion of the Baptiste target at the Decar property, northwest of Fort St. James, British Columbia. Both holes were inclined 50 degrees to the north-northwest.

Visual observations of the core from drill hole 1 show disseminated nickel-iron alloy very similar in character to surface samples previously collected at Decar, ranging from less than 50 to 300 microns in size. Except for three thin gabbro dikes, the mineralization visually extends from the drill collar, at surface, to the end of the hole at 325 metres.

Hole 2 was drilled on the same cross section about 250 metres north of hole 1. Again, based on visual observations, disseminated nickel-iron alloy mineralization was intersected throughout the hole, to the end at 307 metres, with the exception of one 10.7 metre wide unmineralized gabbro dike and three zones of strong fault gouge, breccias and mylonite that ranged from 7.1 to 20.6 metres wide which did not contain obvious nickel alloy. The nickel-iron alloy grain size range at the top of hole 2 is comparable to hole 1. The remainder of hole 2 contains smaller nickel alloy grains that range from less than 50 to 200 microns in size.

"We are very pleased with these initial drill holes and anticipate that the larger grain size of the alloy mineralization found in holes 1 and 2 will be beneficial for physical recovery into a concentrate by magnetic and gravity separation methods," said Ron Britten, VP exploration. "The airborne magnetic survey data collected earlier in the spring indicates up to two kilometre depths of highly magnetic ultramafic units similar to those at Decar that host the nickel-iron alloy mineralization. This interpretation is based on inverted data processed by Mira Geoscience, a Vancouver-based geophysical consulting group. The magnetic data suggests the potential for future deep exploration."

Four additional drill holes in this planned program will test other portions of the Baptiste target and two additional holes will test the Sidney target, which is located two kilometres north and 600 metres higher in elevation than the Baptiste target area. The target depth for each of the six additional holes is approximately 300 metres.

Samples will be sent to ACME laboratories, Vancouver, for total nickel and nickel alloy analyses. Core samples will also be sent to Cliffs Natural Resources Exploration Inc. ("Cliffs") for detailed metallurgical test work.

The fieldwork is being undertaken by First Point under a services agreement with Cliffs. Cliffs can earn an initial 51% interest in a joint venture on the Decar property by spending US$4.5million on the property in four years, of which US$1million is a firm commitment in this first year. For further details of the agreement, please refer to First Point news releases dated November 13, 2009, and December 2, 2009.

Dr. Ron Britten, P. Geo., First Point's Qualified Person under NI43-101, has reviewed and approved the technical content of this news release. First Point emphasizes that interpretations presented in this release are based purely on visual inspection of the core, and an understanding of economic potential will not be possible before assay results for samples from the current drilling program are available.

About First Point

First Point Minerals Corp. is a Canadian base and precious metal exploration company. The Company's flagship Decar property hosts naturally formed nickel-iron alloy mineralization that is the subject of an exploration program being financed by Cliffs Natural Resources Exploration Canada Inc., a wholly-owned subsidiary of Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF), an international mining and natural resources company. For more information, please view the Company's website at www.firstpointminerals.com.

On behalf of First Point Minerals Corp.

Peter Bradshaw, Ph.D., P.Eng., President & CEO

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of the British Columbia Securities Act, the Alberta Securities Act and the Ontario Securities Act. 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.