Report on the Decar Nickel Property (Pursuant to National Instrument 43-101 of the Canadian Securities Administrators) Trembleur Lake Area (NTS 93K/13, 14) Omineca Mining Division British Columbia, Canada o o centered at: 54 54’N, 125 22’W For 906 – 1112 West Pender Street Vancouver, B.C. Canada V6E 2S1 Tel. +1-604-681-8600 By Carl G. Verley, P.Geo. Geological Consultant Amerlin Exploration Services Ltd. 2150 – 1851 Savage Road Richmond, B.C. Canada V6V 1R1 Tel. +1-604-821-1088 Dated: February14, 2011. ii Table of Contents 1.0 SUMMARY ....................................................................................................................... 1 2.0 INTRODUCTION ............................................................................................................. 3 3.0 RELIANCE ON OTHER EXPERTS ................................................................................ 3 4.0 PROPERTY DESCRIPTION AND LOCATION ............................................................. 4 5.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, ................................................. 6 6.0 HISTORY .......................................................................................................................... 7 7.0 GEOLOGICAL SETTING ................................................................................................ 8 7.1 Regional Geology: ......................................................................................................... 8 7.2 Local and Property Geology: ....................................................................................... 11 8.0 DEPOSIT TYPES ............................................................................................................ 15 9.0 MINERALIZATION ....................................................................................................... 16 9.1 Baptiste Target Area .................................................................................................... 17 9.2 Sidney Target Area ...................................................................................................... 18 9.3 Van Target Area ........................................................................................................... 19 10.0 EXPLORATION WORK ............................................................................................... 20 10.1 2007 Exploration:....................................................................................................... 20 10.2 2008 Exploration:....................................................................................................... 20 10.3 2009 Exploration:....................................................................................................... 22 10.4 2010 Exploration:....................................................................................................... 26 11.0 DRILLING ...................................................................................................................... 31 11.1 Core Logging and Sampling ...................................................................................... 32 11.2 Baptiste Target Drill Results ...................................................................................... 33 11.3 Sidney Target Drill Results ........................................................................................ 35 11.4 Drilling Results Summary.......................................................................................... 38 12.0 SAMPLING METHOD AND APPROACH .................................................................. 39 12.1 Rocks and Stream Sediment Samples ........................................................................ 39 12.2 Drill Core ................................................................................................................... 40 13.0 SAMPLE PREPARATION, ANALYSES AND SECURITY ....................................... 40 13.1 Rocks and Stream Sediment Samples ........................................................................ 40 13.2 Drill Core ................................................................................................................... 40 14.0 DATA VERIFICATION ................................................................................................ 41 15.0 ADJACENT PROPERTIES ........................................................................................... 41 16.0 MINERAL PROCESSING AND METALLURGICAL TESTING............................... 42 17.0 MINERAL RESOURCE AND RESERVE ESTIMATES ............................................. 42 18.0 OTHER RELEVANT INFORMATION ........................................................................ 42 19.0 INTERPRETATION AND CONCLUSIONS ............................................................... 43 20.0 RECOMMENDATIONS ............................................................................................... 44 21.0 REFERENCES .............................................................................................................. 47 22.0 Date and Signature page ................................................................................................ 49 22.1 Signature .................................................................................................................... 49 22.2 Date ............................................................................................................................ 49 iii List of Figures Figure 1. Property Location Map .............................................................................................. 2 Figure 2. Location of Decar Claims .......................................................................................... 5 Figure 3a. Regional Geology Map ........................................................................................... 9 Figure 3b. Regional Geology Map Legend ........................................................................... 10 Figure 4. Property Geology Map ............................................................................................ 12 Figure 5. Mineralized Zones Decar Property .......................................................................... 16 Figure 6. Baptiste Target: Geology and mineralization .......................................................... 17 Figure 7. Sidney Target: Geology and mineralization ............................................................ 18 Figure 8. Van Target: Geology and mineralization ................................................................ 19 Figure 9. Location of rock samples, 2007 exploration work .................................................. 20 Figure 10. Location of rock samples, 2008 exploration work ................................................ 21 Figure 11. Baptiste Target area rock sample nickel values(ppm) and awaruite grain size. .... 23 Figure 12. Sidney Target area rock sample nickel values (ppm) and awaruite grain size. ..... 24 Figure 13. Van Target area rock sample nickel values (ppm) and awaruite grainsize. .......... 25 Figure 14. Stream sediment magnetic fraction locations and nickel values(ppm). ................ 26 Figure 15. Airborne geophysical survey area overview. ........................................................ 27 Figure 16. Inverted total field magnetic response Decar Property ......................................... 29 Figure 17. Location of Induced Polarization survey grids, Decar Property ........................... 30 Figure 18. 2010 Drill hole collar locations and projected hole traces .................................... 32 Figure 19. Location Map of writer’s samples. ........................................................................ 43 Figure 20. Location Plan of Proposed drill collars ................................................................. 45 List of Tables Table 1. Mineral Claim Status of Decar Property ..................................................................... 4 Table 2. Baptiste and Sidney Target drill holes locations. ..................................................... 31 Table 3. Baptiste Drill Hole Results Summary ....................................................................... 34 Table 4. Sidney Drilling Results ............................................................................................. 35 Table 5. Summary of 2010 Drill Hole Results ....................................................................... 38 Table 6. Nickel values in writer’s rock samples from Decar Property ................................... 42 Table 7. Estimated Cost of Recommended 2011 Exploration Program ................................. 46 1 1.0 SUMMARY First Point Minerals Inc’s Decar Nickel Property is located in the Trembleur Lake area, centered 90 kilometres northwest of Fort St. James and 117 kilometres east of Smithers, in central British Columbia. The property consists of 47 contiguous mineral claims covering an area of approximately 18,596 hectares in the Omineca Mining Division (NTS 93K13 & 14). The claims are 100% owned by First Point and are subject to an option-joint venture arrangement with Cliffs Natural Resources Inc., whereby Cliffs has been granted the right from First Point to earn a 51% interest in the property by spending $5 million over 4 years. The Decar property is underlain by upper Paleozoic to lower Mesozoic sediments, volcanics and ultramafic intrusives of the Cache Creek Complex that are believed to be an obducted oceanic crustal succession, that is: ophiolite.