First Point Minerals Announces Conversion of Decar Project to Joint Venture
VANCOUVER, BC--(Marketwired - August 07, 2015) - First Point Minerals Corp. (TSX: FPX) ("First Point" or the "Company") is pleased to provide a corporate update on the status of its 40%-owned Decar nickel project ("Decar" or the "Project"), located in central British Columbia.
Pursuant to the option agreement entered into in November 2009 between First Point and Cliffs Natural Resources Exploration Canada Inc., an affiliate of Cliffs Natural Resources Inc. (NYSE: CLF) ("Cliffs"), effective today the structure of Project ownership has converted to a contractual joint venture, on pre-agreed terms, with initial ownership interests fixed at the current levels of 60% for Cliffs and 40% for First Point.
First Point will continue to engage with Cliffs to understand the potential impact on the Decar project of ongoing developments, and to explore all available opportunities to maximize First Point's participation in the Project's continued advancement.
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"
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.
