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First Point Minerals Prices Flow-Through Financing


Vancouver, British Columbia — First Point Minerals Corp. (FPX-TSX.V) (“First Point” or the “Company”) is pleased to announce that it has priced its previously announced best efforts flow-through financing led by Raymond James Ltd. The flow-through common shares will be priced at $0.60 for gross proceeds of up to $2,000,000 (the “Offering”). The private placement of common shares is to be issued on a “flow-through” basis under the Income Tax Act (Canada).

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First Point Minerals Announces a $2.0 Million Private Placement Financing of Flow-Through Shares

Vancouver, British Columbia — First Point Minerals Corp. (FPX-TSX.V) (“First Point” or the “Company”) is pleased to announce that it has entered into an agreement with Raymond James Ltd. (the “Agent”) in connection with a best efforts private placement of common shares to be issued on a “flow-through” basis under the Income Tax Act (Canada) (“Flow-through Shares”) at a price to be determined in the context of the market for aggregate gross proceeds of approximately $2,000,000 (the “Offering”).

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First Point Begins Field Exploration on its 100%-Owned Properties in British Columbia and Yukon in Preparation for Drilling

Vancouver, June 7, 2012 — First Point Minerals Corp. (FPX-TSX.V) (“First Point” or the “Company”) is pleased to announce that field exploration has begun at its 100%-owned Klow project in central British Columbia in preparation for an 1,800-metre drilling campaign that is expected to get underway towards the end of June. The Company’s overall 2012 exploration program is budgeted at $3 million and will also include 2,700 metres of drilling at the 100%-held Wale project in northern B.C., as well as an ongoing global exploration search for new nickel-iron alloy targets.

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Tl’azt’en Nation Signs Exploration Memorandum Of Understanding With First Point Minerals Corp. And Cliffs Natural Resources Exploration Canada Inc.

VANCOUVER, BC – June 6, 2012 — Tl’azt’en Nation (“Tl’azt’en”), First Point Minerals Corp. (FPX-TSX.V) (“First Point”) and Cliffs Natural Resources Exploration Canada Inc., an affiliate of Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) (“Cliffs”), are pleased to announce the signing of an Exploration Memorandum of Understanding (“MOU”) for the Decar nickel-iron alloy project, located in central British Columbia, Canada.

The MOU formalizes protocols for continuing the cooperative working relationship established between the Tl’azt’en Nation including constituent Keyoh families, First Point and Cliffs regarding exploration activities for the Decar Project. The MOU confirms the Tl’azt’en Nation’s support for the exploration activities and acknowledges as well as describes how project activities will be managed with respect to:

  • cultural and environmental interests of the Tl’azt’en communities;
  • on-going community consultation activities; and
  • socio-economic benefits to the Tl’azt’en communities through community contribution funds and business opportunities.

The MOU also establishes processes for the future negotiation of a comprehensive Impact and Benefits Agreement should the project proceed to mine development, emphasizing the mutual respect and positive long-term relationship between the parties during all phases of the Decar Project.

Peter Bradshaw, chairman of First Point said, “The signing of this MOU represents a very positive step in the advancement of this property and I look forward to continuing the very positive and constructive relationship with the Tl’azt’en Nation.”

Chief Pierre, stated, “On behalf of the Tl’azt’en Nation, I commend Cliffs for working with us in good faith to ensure that the exploration program safeguards environmental and cultural values while also providing opportunities and benefits to our members. The agreement lays a foundation for a successful working relationship between Cliffs, First Point and our people.”

“Cliffs shares First Point’s and Chief Pierre’s positive sentiments about the signing of the MOU,” stated Brian Butterworth, president of Cliffs Natural Resources Exploration Canada Inc. “We will seek to employ and source goods and services for the Decar Project locally, with a particular emphasis during the exploration phase on training to maximize employment opportunities.”

About the Decar Project
The Decar Project is currently in the preliminary economic assessment phase. For the project to become a viable developed mine, there are key milestones to be met including prefeasibility, feasibility and environment assessment approvals. The Decar property is located 90 km northwest of Fort St. James in central British Columbia, Canada. The property is located near road, rail and power line infrastructure. The Decar property is approximately 239 km2 in size and covers part of the Mount Sidney Williams ultramafic/ophiolite complex.

Nickel-iron alloy mineralization has been identified in target areas within this complex as confirmed by diamond drilling and relevant assaying (see for more detail). The Decar property is under option to Cliffs Natural Resources Exploration Canada Inc. pursuant to an option agreement with First Point Minerals Corp. entered into November 2009.

About First Point Minerals Corp.
First Point Minerals Corp. is a Canadian base and precious metal exploration company, focused on the exploration and development of naturally occurring stainless steel nickel-iron alloy deposits worldwide. For more information, please visit the company’s website at or contact James S. Gilbert, President and CEO, or Rob Robertson, VP Corporate Development, at (604) 681-8600.

Forward-Looking Statement
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 First Point’s periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. First Point does not assume the obligation to update any forward-looking statement.

About Cliffs Natural Resources Inc.
Cliffs Natural Resources Inc. is an international mining and natural resources company. A member of the S&P 500 Index, the Company is a major global iron ore producer and a significant producer of high- and low-volatile metallurgical coal. Cliffs’ strategy is to continually achieve greater scale and diversification in the mining industry through a focus on serving the world’s largest and fastest growing steel markets. Driven by the core values of social, environmental and capital stewardship, Cliffs associates across the globe endeavor to provide all stakeholders operating and financial transparency.

Cliffs operates iron ore and coal mines in North America and two iron ore mining complexes in Western Australia. Cliffs also has a 45% economic interest in a coking and thermal coal mine in Queensland, Australia. In addition, Cliffs has a major chromite project, in the feasibility stage of development, located in Ontario, Canada. For more information, please visit the company’s website at

Forward-Looking Statements
This release contains “forward-looking” statements within the safe harbor protections of the U.S. federal securities laws. Although Cliffs believes that its forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties relating to Cliffs’ operations and business environment that are difficult to predict and may be beyond Cliffs’ control. Such uncertainties and factors may cause actual results to differ materially from those expressed or implied by forward-looking statements for a variety of reasons including: the uncertainty or weakness in global economic and/or market conditions; trends affecting our financial condition, results of operations or future prospects; the ability to successfully integrate acquired companies and achieve post-acquisition synergies; the outcome of any contractual disputes with our customers, joint venture partners or significant energy, materials or services providers, or any other litigation or arbitration; our ability to successfully identify and consummate any strategic investments; the failure of plant, equipment or processes to operate as anticipated; the results of scoping, pre-feasibility and feasibility studies in relation to projects; impacts of increasing governmental regulation, including failure to receive or maintain required environmental permits, approvals, modifications or other authorization of, or from, any governmental or regulatory entity; our actual economic ore reserves or reductions in current resource estimates; the ability to maintain adequate liquidity and successfully implement our financing plans; availability of capital equipment and component parts; risks related to international operations; and problems or uncertainties with third-party contractors, unanticipated geological conditions, weather conditions, natural disasters, tons mined, changes in cost factors, the supply or price of energy, transportation and employee benefit costs and other risks of the mining industry; and other factors and risks that are set forth in Cliffs’ most recently filed reports with the U.S. Securities and Exchange Commission. The information contained herein speaks as of the date of this release and may be superseded by subsequent events. Except as may be required by applicable securities laws, Cliffs does not undertake any obligation to revise or update any forward-looking statements contained in this release.

Tl’azt’en Nation

Chief Ralph Pierre
(250) 648-3212

First Point Minerals Corp.
James S. Gilbert, President and CEO
(604) 681-8600

Cliffs Natural Resources Inc.
Patricia Persico, Director, Global Communications
(216) 694-5316

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Cliffs Refuses to Provide First Point with Key Data

Vancouver, May 5, 2012 — First Point Minerals Corp. (FPX-TSX.V) (“First Point” or the “Company”) announces that it has served notice of arbitration on Cliffs Natural Resources Exploration Canada Inc. and Cliffs Natural Resources Exploration Inc. (collectively “Cliffs”) over Cliffs’ refusal to provide First Point with information prepared by their consultants with respect to the Decar Nickel-Iron Alloy Project in British Columbia.

Cliffs has refused to provide First Point with certain key reports prepared by consultants and contractors with respect to the Decar Project. The reporting obligations under the Option Agreement currently in effect require that Cliffs provide First Point, on a timely basis, with: “…copies of all reports…and consultants’ and contractors’ reports.”

First Point regrets having no alternative to taking this step against a major company such as Cliffs, but repeated requests by First Point for delivery of the information have been either refused or ignored, and Cliffs’ refusal thus far to provide these reports is damaging the interests of First Point and its shareholders. Management of First Point cannot speculate on the possible nature of the content of the reports that would cause Cliffs to refuse to share the information with First Point as required in the Option Agreement.

The market capitalization of Cliffs’ parent company is US$8.6 billion; the market capitalization of First Point is C$53 million. Cliffs currently holds a 15% stake in the First Point parent company. The Cliffs ownership interest in First Point is subject to a standstill agreement through December 27, 2013.

First Point is the original owner of a 100% interest in the Decar Project, which First Point believes to be the first property of its type anywhere in the world to be explored for possible commercial production of nickel entirely from awaruite, a naturally-occurring nickel-iron alloy, effectively naturally-occurring “stainless steel”. Under the terms of the Option Agreement currently in effect between First Point and Cliffs, Cliffs has earned a 51% interest in the Project and has agreed to prepare a NI-43-101 compliant Preliminary Economic Assessment (“PEA”) by March, 2013, delivery of which would increase Cliffs’ interest in the Project to 60%.

On April 16, 2012, First Point announced the maiden Inferred resource for the Project, totaling 1.2 billion tonnes grading 0.113% Davis Tube Recoverable Nickel (“Davis Tube Recoverable Nickel” refers to the basis on which the Inferred resource for the Decar Project has been estimated and reported, details of which are provided in the First Point press release, dated April 16, 2012, announcing the resource), or 1,352,610 tonnes of contained Davis Tube Recoverable Nickel, based on a cut-off grade of 0.06%. Under the terms of the Option Agreement, Cliffs is the manager of the ongoing exploration, metallurgical testing, market study and PEA programs on behalf of the Project. The mineral resource estimate was prepared by Caracle Creek International Consulting Inc. (“Caracle Creek”), which supervised and managed the 2011 drilling program at Decar on behalf of Cliffs. The mineral resource block model was reviewed on Cliffs’ behalf by Roscoe Postle Associates (“RPA”), an engineering and geological consulting firm.

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 or contact Jim Gilbert, President and CEO, or Rob Robertson, VP Corporate Development, at (604) 681-8600.

On behalf of First Point Minerals Corp.

“James Gilbert”
James Gilbert, President and CEO – TSX Venture Exchange: FPX

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Tel: 604.681.8600 Fax: 604.681.8799

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