Posted in | Nickel | Mining Business

First Point Provides Update on Decar Nickel Project in Central British Columbia

First Point Minerals Corp. is pleased to provide a corporate update on the status of its 40%-owned Decar nickel 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.

Source: http://www.firstpointminerals.com/

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