First Point Minerals Corporation announced 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.

Dr Ron Britten VP of exploration at First Point said that "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."

This northwest southeast trending zone of nickel iron alloy mineralization measures roughly 3.1 kilometers long and from 670 to 1,060 meters wide. It is defined by 113 bedrock samples that average a grade of 945 parts per million 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 meters in length and up to 460 meters 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 kilometers long and varies from 120 to 470 meters 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 kilometers east of Dease and covers an area of 119 square kilometers. 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 meter drilling program later this summer.

The company also recently staked the Orca property, which covers 64 square kilometers west of Wale, based on a mapped large ultramafic body and geochemical sample results. Orca is located about 35 kilometers east of Dease Lake and 16 kilometers 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 kilometers in size and covers part of the same ultramafic belt as Wale and Orca. It is situated about 77 kilometers east of Dease Lake and 34 kilometers southeast of Wale.

The main target at Letain measures approximately 820 meters 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 reanalyzed 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 meter spaced sites where outcrop was available along traverses. These samples were delivered to Acme Analytical Laboratories Ltd. in Vancouver for nickel in alloy and total nickel analysis, using the analytical procedures discussed in the company's November 7th 2011 news release.