Vancouver, January 24, 2012 — The Board of Directors of First Point Minerals Corp. (FPX-TSX.V) (“First Point” or the “Company”) is pleased to announce the appointment of Mr. James S. Gilbert as President and CEO, and a Director of the Company. Dr. Peter Bradshaw, CEO of First Point since its formation, has been elected Non-Executive Chairman of the Board of Directors of the Company.

“We are truly delighted that Jim Gilbert has decided to accept the position of CEO with First Point”, states Peter Bradshaw. “The Company has reached a pivotal stage in its evolution by demonstrating that natural occurring nickel-iron alloy is potentially a very important economic source of nickel. We have every confidence that Jim can take us to the next level and I very much look forward to my continued association with First Point as Non-Executive Chairman.”

Mr. Gilbert has 30 years of experience in investment and transaction execution, with more than 20 years focused on the international mining and metals industry. His experience covers mergers and acquisitions, debt and equity financing, off-take and specialty refining agreements, joint venture negotiations and strategic marketing. Following university, he spent an initial five years with Merrill Lynch and Company, then moving on to the Wharton School, where he received his MBA in 1988. Mr. Gilbert then spent a subsequent six years with Coopers & Lybrand in the Corporate Finance Group, where his mining experience began with two Latin American privatization mandates. In 1994, Mr. Gilbert joined the Natural Resources Investment Banking of Rothschild Inc., rising to the position of Director in the North American mining and metals team. During his time with Rothschild, Mr. Gilbert and his team financed a total of 8 base and precious metals mines into production. Following Rothschild, he spent two years as Chief Investment Officer with Gerald Metals Inc, originating and managing project investment activities for the group. Most recently, Mr. Gilbert spent two years with Minera S.A., a private mining investment company, as President, CEO, and Director, where he was responsible for a portfolio of operating, development and exploration stage base and precious metals projects.

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 www.firstpointminerals.com or contact Peter Bradshaw, President and CEO, or Rob Robertson, VP Corporate Development, at (604) 681-8600.

On behalf of First Point Minerals Corp.

“John McDonald”

John A McDonald, Director and Chair of the Search Committee

TSX Venture Exchange: FPX

Suite 906 — 1112 West Pender Street
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Tel: 604.681.8600 Fax: 604.681.8799
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