Tl'azt'en Nation Signs Exploration Memorandum of Understanding with First Point Minerals Corp. and Cliffs Natural Resources Explor

Wed Jun 6, 2012 5:00pm EDT

* Reuters is not responsible for the content in this press release.

Tl'azt'en Nation ("Tl'azt'en"), First Point Minerals Corp. (TSX
VENTURE:FPX) ("First Point") and Cliffs Natural Resources Exploration
Canada Inc., an affiliate of Cliffs Natural Resources Inc.
(NYSE:CLF)(PARIS:CLF) ("Cliffs"), are pleased to announce the signing of
an Exploration Memorandum of Understanding ("MOU") for the Decar
nickel-iron alloy project, located in central British Columbia, Canada.

    The MOU formalizes protocols for continuing the cooperative working
relationship established between the Tl'azt'en Nation including
constituent Keyoh families, First Point and Cliffs regarding exploration
activities for the Decar Project. The MOU confirms the Tl'azt'en Nation's
support for the exploration activities and acknowledges as well as
describes how project activities will be managed with respect to:

--  cultural and environmental interests of the Tl'azt'en communities; 
--  on-going community consultation activities; and 
--  socio-economic benefits to the Tl'azt'en communities through community
    contribution funds and business opportunities.

    The MOU also establishes processes for the future negotiation of a
comprehensive Impact and Benefits Agreement should the project proceed to
mine development, emphasizing the mutual respect and positive long-term
relationship between the parties during all phases of the Decar Project. 

    Peter Bradshaw, chairman of First Point said, "The signing of this MOU
represents a very positive step in the advancement of this property and I
look forward to continuing the very positive and constructive
relationship with the Tl'azt'en Nation."

    Chief Pierre stated, "On behalf of the Tl'azt'en Nation, I commend Cliffs
for working with us in good faith to ensure that the exploration program
safeguards environmental and cultural values while also providing
opportunities and benefits to our members. The agreement lays a
foundation for a successful working relationship between Cliffs, First
Point and our people."

    "Cliffs shares First Point's and Chief Pierre's positive sentiments about
the signing of the MOU," stated Brian Butterworth, president of Cliffs
Natural Resources Exploration Canada Inc. "We will seek to employ and
source goods and services for the Decar Project locally, with a
particular emphasis during the exploration phase on training to maximize
employment opportunities."

    About the Decar Project 

    The Decar Project is currently in the preliminary economic assessment
phase. For the project to become a viable developed mine, there are key
milestones to be met including prefeasibility, feasibility and
environment assessment approvals. The Decar property is located 90 km
northwest of Fort St. James in central British Columbia, Canada. The
property is located near road, rail and power line infrastructure. The
Decar property is approximately 239 km2 in size and covers part of the
Mount Sidney Williams ultramafic/ophiolite complex.

    Nickel-iron alloy mineralization has been identified in target areas
within this complex as confirmed by diamond drilling and relevant
assaying (see for more detail). The Decar
property is under option to Cliffs Natural Resources Exploration Canada
Inc. pursuant to an option agreement with First Point Minerals Corp.
entered into November 2009. 

    About First Point Minerals Corp.

    First Point Minerals Corp. is a Canadian base and precious metal
exploration company, focused on the exploration and development of
naturally occurring stainless steel nickel-iron alloy deposits worldwide.
For more information, please visit the company's website at or contact James S. Gilbert, President and
CEO, or Rob Robertson, VP Corporate Development, at (604) 681-8600.

    Forward-Looking Statement

    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 First Point's periodic filings with Canadian securities regulators.
Actual results could differ from those currently projected. First Point
does not assume the obligation to update any forward-looking statement.

    About Cliffs Natural Resources Inc.

    Cliffs Natural Resources Inc. is an international mining and natural
resources company. A member of the S&P 500 Index, the Company is a major
global iron ore producer and a significant producer of high- and
low-volatile metallurgical coal. Cliffs' strategy is to continually
achieve greater scale and diversification in the mining industry through
a focus on serving the world's largest and fastest growing steel markets.
Driven by the core values of social, environmental and capital
stewardship, Cliffs associates across the globe endeavor to provide all
stakeholders operating and financial transparency.

    Cliffs operates iron ore and coal mines in North America and two iron ore
mining complexes in Western Australia. Cliffs also has a 45% economic
interest in a coking and thermal coal mine in Queensland, Australia. In
addition, Cliffs has a major chromite project, in the feasibility stage
of development, located in Ontario, Canada. For more information, please
visit the company's website at 

    Forward-Looking Statements

    This release contains "forward-looking" statements within the safe harbor
protections of the U.S. federal securities laws. Although Cliffs believes
that its forward-looking statements are based on reasonable assumptions,
such statements are subject to risks and uncertainties relating to
Cliffs' operations and business environment that are difficult to predict
and may be beyond Cliffs' control. Such uncertainties and factors may
cause actual results to differ materially from those expressed or implied
by forward-looking statements for a variety of reasons including: the
uncertainty or weakness in global economic and/or market conditions;
trends affecting our financial condition, results of operations or future
prospects; the ability to successfully integrate acquired companies and
achieve post-acquisition synergies; the outcome of any contractual
disputes with our customers, joint venture partners or significant
energy, materials or services providers, or any other litigation or
arbitration; our ability to successfully identify and consummate any
strategic investments; the failure of plant, equipment or processes to
operate as anticipated; the results of scoping, pre-feasibility and
feasibility studies in relation to projects; impacts of increasing
governmental regulation, including failure to receive or maintain
required environmental permits, approvals, modifications or other
authorization of, or from, any governmental or regulatory entity; our
actual economic ore reserves or reductions in current resource estimates;
the ability to maintain adequate liquidity and successfully implement our
financing plans; availability of capital equipment and component parts;
risks related to international operations; and problems or uncertainties
with third-party contractors, unanticipated geological conditions,
weather conditions, natural disasters, tons mined, changes in cost
factors, the supply or price of energy, transportation and employee
benefit costs and other risks of the mining industry; and other factors
and risks that are set forth in Cliffs' most recently filed reports with
the U.S. Securities and Exchange Commission. The information contained
herein speaks as of the date of this release and may be superseded by
subsequent events. Except as may be required by applicable securities
laws, Cliffs does not undertake any obligation to revise or update any
forward-looking statements contained in this release.

First Point Minerals Corp.
James S. Gilbert
President and CEO
(604) 681-8600
Cliffs Natural Resources Inc.
Patricia Persico
Director, Global Communications
(216) 694-5316
Tl'azt'en Nation
Chief Ralph Pierre
(250) 648-3212

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