First Point Minerals Corp. - News Releases - First Point Minerals Arranges $250,000 Private Placement Financing

906-1112 W. Pender St.
Vancouver, B.C. V6E 2S1
Telephone: 604-681-8600
Toll Free: 1-866-FPM-8601
Fax: 604-681-8799

	Thu Feb 26, 2009 First Point Minerals Arranges $250,000 Private Placement Financing
	Peter M. D. Bradshaw, P. Eng., President and Chief Executive Officer of First Point Minerals Corp. (TSXV:FPX) is pleased to announce that, subject to regulatory acceptance, First Point has arranged a non-brokered private placement financing to two arm's-length investors consisting of 2,500,000 units ("Units") at a price of $0.10 per Unit, for gross proceeds to the Company's treasury of $250,000. No commissions or finder's fees are payable in connection with this financing. Each Unit is comprised of one common share (a "Share") and one-half of one non-transferable share purchase warrant ("Warrant") of the Company. Each whole Warrant will entitle its holder to purchase one additional common share (a "Warrant Share") at an exercise price of $0.15 per share for a period of 24 months from closing of the transaction. In accordance with securities regulations currently in effect, the Shares, Warrants and Warrant Shares will be subject to a "hold" period of four months and one day from closing. The funds will be used, in part, to fund First Point's nickel alloy exploration program and related hydrometallurgical testing program at the University of British Columbia and for working capital. The proceeds from the exercise of the Warrants, if any, will be provide general working capital. For more information, please view: www.firstpointminerals.com, or phone Peter M.D. Bradshaw, President and CEO, or Ron Britten, Vice-President of Exploration, at (604) 681-8600. FIRST POINT MINERALS CORP. "Peter M.D. Bradshaw" Peter M.D. Bradshaw, President The TSX Venture Exchange has not reviewed, nor accepts responsibility for the adequacy or accuracy of this news release.

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