First Point Minerals Corporation announced that it has staked the Mich property in the Yukon Territory of Canada after discovering a large zone of nickel iron alloy mineralization during this summer's regional exploration field program.

The Mich property, owned 100% by First Point and totaling 1,150 hectares in size, is located 52 kilometers east of Whitehorse. Surface sampling has defined a main zone of disseminated nickel iron alloy mineralization that extends over a distance of 2,200 meters in length and coincides with a northwest trending ridge. The anomalous zone is 150 meters wide at the northwest end, expanding to 640 meters in width at the southeast end, where it is covered by overburden and remains open to the south.

Wide spaced sampling of sparse outcrops of bedrock within the zone returned values ranging from 590 to 1,160 parts per million (0.06 to 0.12%) nickel in alloy from 14 rock sample sites, for an average grade of 893 ppm (0.09%) nickel in alloy.

Dr Ron Britten VP of Exploration at First Point said that "Based on very promising results from a first pass of sampling, we have staked the Mich property in the Yukon as part of our USD 2 million budgeted worldwide search for new nickel iron alloy targets in 2011. The Yukon discovery is the result of a very aggressive exploration campaign that is currently targeting eight different countries."

The newly defined zone at Mich exhibits disseminated coarse grained nickel iron alloy ranging up to 200 to 500 microns in size. First Point believes surface sample assay results that are greater than 500 ppm nickel in alloy and coarse nickel iron alloy grains that are larger than 200 microns in size, are both useful and positive tools to evaluate early stage exploration prospects.

First Point plans to return to the Mich property in the spring of 2012 to conduct further detailed sampling and mapping, followed by a proposed 2,000 meter drilling program.