VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 20, 2011) - First Point Minerals Corp. (TSX VENTURE:FPX) ("First Point" or the "Company") announces that, as a result of a review by the British Columbia Securities Commission ("BCSC"), the Company is issuing this news release to clarify and update certain aspects of its disclosure provided in its news releases, third party disclosure and postings previously available on the Company's website, [ www.firstpointminerals.com ], relating to the Company's Decar Property, British Columbia (the "Decar Property").

1. The Company on October 14, 2011 filed a technical report on the Decar Property prepared by Amerlin Exploration Services Ltd. and dated February 14, 2011 (the "Report"). The Report is available under the Company's profile on the SEDAR website: [ www.sedar.com ].

2. As of the date of the Report, and as of today's date, there were and are no mineral resource or mineral reserve estimates for the Decar Property.

3. The Report discloses that inversion modeling of the geological and geophysical data suggests that there is potential for locating a resource on the Decar Property in the order of 300+ million tonnes or more averaging 0.1 to 0.15% nickel in alloy. The Company wishes to caution that this potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

4. The Decar Property was the subject of an article appearing in the October 3-9, 2011 edition of The Northern Miner, and the Company provided a link to the article on the Company website. The article refers to the Decar Property as a bulk-tonnage, open-pittable potential resource and discusses possible mining and production details. The article also projects a 300-million tonne resource that should be more accurately described as an exploration target. This disclosure is misleading and contrary to NI 43-101, because bulk-tonnage, open-pittable potential resource is not a mineral resource category permitted under NI 43-101. Moreover, any discussion of potential production details, based on an exploration target, is premature and misleading. The article also does not include the information and cautionary language required for exploration targets. The article fails to include appropriate context and cautionary language that would make the discussion of potential production scenarios or information not misleading. The Company has removed the link on its website to The Northern Miner article.

5. The Company's website also provided a link to a corporate presentation dated April 2011, which included a table comparing the Decar Property nickel-iron alloy target to various development stage and producing porphyry copper projects in British Columbia, which: (i) discloses an exploration target of 300 million tonnes of proven and probable mineral reserves for Decar grading 0.126% nickel, contrary to section 2.2 (a) and (b) of NI 43-101, and which is not based on at least a preliminary feasibility study; (ii) converts nickel grade to copper equivalent as a comparable analysis, despite the fact that Decar has no significant copper and the metallurgy of copper and nickel are not generally comparable, and (iii) includes an economic analysis in the form of a net value per tonne that is prohibited under section 2.3(1)(b) and (c) of NI 43-101. These references are misleading and are hereby retracted.In addition, the Decar Property is not a porphyry copper property and is in a much earlier stage of development than the properties to which it was compared. Any such comparisons are misleading and are hereby retracted. The link has now been removed from the Company's website.

6. In its news release dated September 13, 2011, First Point announced that under an amended option agreement signed September 12, 2011, Cliffs Natural Resources Exploration Canada Inc., an affiliate of Cliffs Natural Resources Inc. (NYSE:CLF) (Paris:CLF) ("Cliffs"), has earned a 51% interest in the Decar Property by agreeing to complete a preliminary economic assessment ("PEA"), or scoping study, on the Decar Property within 18 months. The news release stated: "Cliffs is fast tracking the exploration and development at Decar by greatly expanding and accelerating this year's drilling campaign, with the addition of a third and fourth drill rig. The objectives of the 2011 drill program are to define an inferred resource estimate of the Baptiste mineralized zone and provide data for the scoping study."

First Point wishes to clarify that the PEA is contingent on Cliffs establishing a mineral resource, and that there is no guarantee that further exploration work will result in the delineation of mineral resources suitable for use in a PEA.

Dr. Peter Bradshaw, P. Eng., First Point's 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 and precious metal exploration company. For more information, please view the Company's website at [ www.firstpointminerals.com ].

On behalf of First Point Minerals Corp.

Peter Bradshaw, Ph.D., P. Eng., President

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.