First Point picks up Rio Luna (January 09, 2003)

Vancouver With a drill rig set to turn on its Cacamuya gold project in Honduras, First Point Minerals (FPX-V) has inked a deal to acquire the Rio Luna gold property inneighbouring Nicaragua.

Located 10 km north of Boaco city, the 126-sq.-km project hosts four, low-sulphidation epithermal quartz veins that occur over a 7 sq. km area. The main mineralized structure has been traced for 4.4 km along strike and shows widths of 2-to-10 metres. Rock chip sampling has returned up to 18 grams gold per tonne over 2 metres in Tertiary andesitic volcanics.

First Point plans to complete stream sediment sampling, mapping and rock sampling over the property.The junior can acquire a 100% interest in the property by paying Inversiones de Terra Nova S.A.US$15,000, issue 75,000 shares over 3 years and spend US$10,000 on exploration.

At the Cacamuya gold-silver property, the company is gearing up to launch a 2,000 metre drill program over the D4 and D5 targets. Previous diamond drill results included 19.1 grams gold over 4 metres in hole D4. First Point also plans on testing the Carmen-Esperanza veins, as well as follow-up drilling at both Filo Lapa and Hilo Libre.

In northern Ontario, drill results from the Mann platinum-palladium project has prompted First Point to return the ground to East West Resource (EWR-V).

Lying 40 km northeast of Timmins, the junior punched 2 holes into an outcrop ofclinopyroxenite that carried 0.56 grams combined platinum-palladium over 7.5 metres. The first hole cut 0.47 gram combined platinum-palladium over 16 metres, while the second, collared 85 metres to the west, failed to return any significant values.