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First Point Minerals Options Gold/Silver Property in Mexico 5/29/2007 VANCOUVER, BRITISH COLUMBIA, May 29, 2007 (CCNMatthews via COMTEX News Network) -- First Point Minerals Corp. "First Point" (TSX VENTURE:FPX) has acquired a right to an option on the Corralitos Property in the state of Chihuahua in Mexico from Teck Cominco Limited's Mexican subsidiary, Minera Teck Cominco, S.A. de C.V. "MTC". Under the terms of the agreement First Point, through a Mexican subsidiary, can earn a 100% interest in the property by spending US$2 million on exploration over the next 5 years and issuing MTC 500,000 First Point shares. On First Point vesting with 100% MTC shall have a one time right to back-into the property and earn an initial 51% by spending US$4 million. MTC can increase its interest to 65% by spending a further $20 million or completing a feasibility which ever comes first and to 70% by arranging financing for First Point's share of development costs. If MTC does not make the election to back-in then it shall retain a 1% NSR. The transaction is subject to acceptance of the regulatory authorities. MTC initially acquired this large property in 2002 for its base metal potential as it surrounds the margin of the San Pedro Corralitos silver, zinc, lead, copper deposit, and conducted preliminary surface exploration work involving rock sampling and a magnetic survey over the entire Property. The property has not been drilled. First Point plans to focus its initial attention on an area of the property where 9 of 10 surface rock samples ranged from 6.2 to 13.9 grams per tonne (g/t) gold in a 400 by 600 metre area. The samples are from several mineralized, silicified or strong alteration zones which occur in limestone, sediments and intrusions in a window through shallow alluvial cover so the extent of this mineralized area is still unknown. First Point will initially map and rock and soil sample portions of the property to be followed by trenching and drilling this year. In other regions of the property massive to colloform quartz veins or stockwork that trend northwest and northeast, have a strike length of approximately 8 kilometers and carry anomalous to significant values in silver, zinc and lead. Andesite dikes and feldspar porphyry intrusions appear to be spatially related to the structural breaks which host the silver-base metal veins in the southern end of Corralitos Property and the adjoining San Pedros Corralitos Deposit. First Point Minerals Corp. is a Canadian precious and base metal exploration company focused on the Americas. ON BEHALF OF THE BOARD OF DIRECTORS Peter M. D. Bradshaw, President SOURCE: First Point Minerals Corp. First Point Minerals Corp. Peter M. D. Bradshaw President and CEO [phone] First Point Minerals Corp. Ron Britten Vice-President of Exploration [phone] [phone] (FAX) Email: [e-mail] Website: www.firstpointminerals.com Copyright (C) 2007 CCNMatthews. All rights reserved.