LME Laurion Mineral Exploration Inc

First Point Minerals Corp. (TSX:FPX) ("First Point" or the "Company") is pleased
to announce the positive results from an initial market test of awaruite
(nickel-iron alloy) concentrates produced from a bulk sample from the Company's
40%-owned Decar project ("Decar", or "the Project") in central British Columbia.
Each of the six potential consumers participating in the test indicated
satisfactory technical success in their analysis and test processing of the
concentrates, which had never before been presented to potential offtakers for
evaluation. Alternative process routes examined included blending as feedstock
to ferronickel production and direct feed to stainless steel circuits. The
majority provided indicative commercial terms for the purchase of such
concentrates. All participants expressed interest in continuing discussions
around potential long term availability of Decar concentrates on the world
market for nickel products. The identities of the participating companies are
commercially sensitive and are being held confidential.


Key results from the tests, based on written responses from test participants,
are as follows:




--  All participants achieved generally satisfactory technical results from
    their analysis and testing of the samples of Decar concentrates
    provided, and ruled out the presence of deleterious or penalty elements
    that would render the product technically unacceptable.

--  Test processing and analyses indicated amenability of Decar concentrates
    to treatment in a variety of conventional processing configurations: as
    blending material in the kiln stage of kiln-reduction/ferronickel
    smelting configuration; as post-kiln feed to the furnace stage of
    similar ferronickel configurations; and as direct feed to stainless
    steel production. Direct feed to stainless steel circuits was achieved
    by agglomeration with a reducing agent, a preparation stage that may
    enhance performance in ferronickel processes as well. Very high rates of
    metallization (i.e. recovery of the nickel in the concentrate in the
    target product, ferronickel or stainless steel metal) and accountability
    were noted across the various processes assessed, ranging from 85% to
    more than 97%.

--  Commercial feedback indicates the potential to achieve payability for
    nickel in awaruite concentrates in the range of 85% to more than 95% of
    the London Metal Exchange ("LME") nickel price, depending on end use and
    prevailing nickel price, with no credits for iron or chromite. By
    comparison, the Preliminary Economic Assessment ("PEA") of the Decar
    Project, the positive results of which were announced by First Point in
    March of 2013 (See First Point news release of March 22, 2013), was
    based on a revenue assumption of 75% of LME payable for nickel in
    concentrates, with no credits for other elements.



It should be noted that both technical results and commercial indications are
preliminary and subject to confirmation following further testing and analysis,
including larger scale, more continuous processing runs.


"We view the outcome of this market test - conducted directly with potential
consumers of this new nickel-iron-chromite concentrate - as a major step forward
in proving the technical and commercial viability of developing Decar. These
end-users have told First Point that a market for these concentrates exists,
that the product will work in their facilities, and as a consequence there is
very good potential to substantially improve upon the revenue assumptions in the
2013 PEA. While these results are preliminary, and the Company has considerable
work to do to further optimize the product, communication channels now opened
with a number of possible customers will be invaluable in establishing final
specifications that will maximize the utility of, and revenues realized from,
these concentrates in the market," said Jim Gilbert, President and CEO of First
Point.


In designing the market test program, First Point identified world-class
participants in the stainless steel value chain, all but one of whom produce
both ferronickel and stainless steel in their facilities. A seven-tonne bulk
sample from Decar was shipped to ALS Metallurgy in Kamloops, B.C. for
metallurgical testing and production of a nickel-iron-chromite concentrate,
using conventional magnetic separation and gravity concentrate. Following
execution of a non-disclosure agreement, each party was provided with a 2
kilogram sample (one participant requested only 300 grams) of the concentrate,
grading approximately 16.5% nickel, 41% iron and 1.5% chromite, for analysis and
testing in their respective operations. Testing conducted by potential customers
was bench-scale and static, based on the relatively small concentrate sample,
which was, in turn, prepared from a bulk sample, taken from a single, location
that was not necessarily representative of the Decar deposit overall.
Nonetheless, the samples represent a realistic product both for testing and for
the generation of valid results, positive or negative.


Ferronickel

The ferronickel facilities of the parties evaluating the Decar concentrates are,
with some differences of customization, conventional two-stage processes: kiln
reduction followed by ferronickel smelting. Analytical and testing approaches
included blending the awaruite concentrates with laterite ore for treatment in
the kiln stage of the ferronickel circuit, and, separately, combining the
concentrates with calcines produced from the kiln stage as a blended feed to the
final ferronickel production stage. Under conventional operating parameters,
high metallization rates (i.e. conversion of the nickel in the concentrate into
ferronickel) for nickel and iron are indicated for both processing routes,
ranging from 85% to more than 97%, while chromite in the mixed calcine scenario
is not recoverable as it reports to the ferronickel slag. A key optimization
suggestion arising from the test was the incorporation of agglomeration or
pelletization as a pre-treatment step, both to reduce the potential for
oxidation of the fine-particle concentrate during kiln reduction and/or to avoid
losses of fine material on direct injection into ferronickel smelting. Other
technical issues raised included the importance of maintaining stable silica
oxide/magnesium oxide ratios in the concentrates and the need for further
demonstration that impurity contents (phosphorous, sulfur, copper) can be
maintained at acceptable levels over a longer run. The scope of ongoing
metallurgical testing, optimization studies and economic analysis as part of the
Pre-Feasibility Study ("PFS") will be tailored to address these matters. 


Stainless Steel

Injection of the awaruite concentrates as direct feed into stainless steel
circuits was also evaluated, following pelletizing using coke and the required
blend of flux to achieve adequate reducing atmosphere and correct slagging
characteristics for the awaruite concentrates. At this stage, using this method
the metallization potential of the chromite has not been determined but the
percentage of nickel which may be metallized approaches 99.0 %. Slag
characteristics require that the magnesium oxide levels in the pelletized
product should be less than 60.0 % of the silica content. The current ratio is 1
to 1 and the correct ratio can be achieved by adding silica either to the
pellets or later. Again, the scope of PFS testing, optimization studies and
economic analysis can be altered to address these items.


Commercial Indications

Commercial indications of nickel payability ranged from a low of 70% of the LME
nickel price to highs of more than 97%, depending on a combination of factors,
including end use and prevailing nickel price (e.g., higher payability as nickel
price increases). At this stage, none of the potential customers have agreed to
pay for iron or chromite content of the concentrates, but First Point remains of
the view that, as technical performance of the concentrates becomes better
established, the argument for payability of these additional elements will gain
strength. The responses received demonstrate the potential to achieve nickel
payability in the range of 85% of LME to 95% or more. This would represent a
material improvement on the 75% of LME - for nickel only, no by-product credits
- assumed as the revenue realization driving the positive PEA results announced
in March 2013 (See First Point news release of March 22, 2013). Further
discussions with potential customers - both participants in this test program
and others - throughout the PFS stage will be focused on maximizing revenue
realization from optimized product designs. 


Dr. Peter Bradshaw, P. Eng., a First Point Qualified Person under NI 43-101, has
reviewed and approved the technical content of this news release.


About First Point

First Point Minerals Corp. is a Canadian base metal exploration company
operating worldwide. For more information, please view the Company's website at
www.firstpointminerals.com.


On behalf of First Point Minerals Corp.

Jim Gilbert, President and CEO

Forward-Looking Statements

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 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.


Neither the Toronto Stock Exchange nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
First Point Minerals Corp.
Jim Gilbert
President and CEO
(604) 681-8600
(604) 681-8799 (FAX)


First Point Minerals Corp.
Rob Robertson
VP Corporate Development
(604) 681-8600
(604) 681-8799 (FAX)
info@firstpointminerals.com
www.firstpointminerals.com

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