2014

Inspiration Completes Survey of Langmuir Property (04-Sep-2014)

September, 04 2014 TSX - ISM Frankfurt- OI8

 

TORONTO, ONTARIO--(Marketwired - Sept. 4, 2014) - Inspiration Mining Corporation (TSX:ISM)(FRANKFURT:OI8)(PINKSHEETS:IRMGF) (the "Corporation") is pleased to announce that it has completed a professional survey of the Langmuir Property. The survey was undertaken by the Corporation as a condition for converting its mining claims in Langmuir into mining leases. The survey has been submitted to the Ministry of Northern Development and Mines for their acceptance and approval as part of the Corporation's application for the conversion of the mining claims to leases. The professional survey, which was undertaken by a licensed surveyor, determined and established permanent monuments, designating the precise boundaries of the mining claims. The process involved significant physical efforts and, due to the harshness of the past winter, took more time than originally anticipated. Langmuir Property The Langmuir Property comprises 69 mining claims covering 1121 hectares in the Langmuir Township, 25 km southeast of Timmins, Ontario. It hosts the past nickel producing mines of Langmuir No. 1 and 2. In 2010, Micon International Limited ("Micon") completed the National Instrument 43-101 compliant resource estimate report (the "Micon Report") for the Langmuir North Deposit and the Langmuir No 1 Deposit. A copy of the Micon Report can be viewed under the Corporation's profile on the SEDAR website (www.sedar.com). Given that the Langmuir No. 1 mine already has some infrastructure in place, such as its access ramp, and the presence of high grade nickel (ranging from 1.5% to 15%, as ret out in the Micon Report), the Corporation is of the opinion that in light of the current economics, it will make economic sense to further advance the Langmuir No. 1 deposit. The Corporation has completed several internal studies which supports its decision to focus on the development of the Langmuir No. 1 mine. Based on the results of such studies, the Corporation is confident that once the ramp is reopened and the mine is dewatered, it will be able to proceed with preliminary underground drilling with the objective of completing a bulk sample. Underground exploration and mining of Langmuir No. 1 deposit dates back to 1976 when a ramp was first constructed by Noranda, which then owned those claims. That ramp was 12 foot by 15 foot and extended to a length of 1,250 feet. Noranda ceased underground development of the ramp in 1977, 70 m short of the deposit, due to what it explained as deteriorating economic conditions in its mining operations. When Timmins Nickel subsequently took control of the property, it completed the dewatering of Noranda ramp, extended the ramp for 400 feet (121.9 m) to the 315 foot mine level. It then completed 4,652 feet (1,417.9 m) of underground diamond drilling and metallurgical and ore compatibility studies During 1990 and 1991, 101,132 tonnes of ore, grading 1.74 nickel was milled from the Langmuir No. 1 mine. However, all underground work at the Langmuir No.1 site ceased in early 1992, when Timmins Nickel was petitioned into bankruptcy. Since the mine closed a further 33,569 metres of resource definition drilling has been completed resulting in a total of 18,776 core samples, which have been analyzed for the Langmuir No.1 deposit. As set out in the Herron Report dated May 17, 2004, the testing to that date has resulted in 127,000 tonnes of inferred resource, grading 2.21% Nickel. The reader is cautioned that the quantities and grades reported as inferred resources are conceptual in nature and there has been insufficient exploration to define indicated mineral resources in these deposits, and it is uncertain if further exploration will result in delineation of indicated or measured mineral resource in these deposits. The disclosure of the inferred resource is being treated as an exploration target. The current sampling practice of the Corporation has identified a broad halo zone of greater than 0.20% Ni with several higher grade intersections greater than 2.0% Ni exceeding 20 metres in true width. This extensive surface DDH drilling, together with the Micon Report, dated January 6, 2010, and the NordPro report, dated May 16, 2012, have all been primarily directed to the extensive, but lower grade, disseminate resources which are inferred to be the halo effect. The higher grade massive resource detected at, and open at, depth have not, at this point, been pursued. The Corporation's near term intent is to direct its attention to the dewatering and, to the extent necessary, repair of the ramp to give it access to this higher grade ore. The processes to be pursued are two-fold. The Corporation is allowed to extract bulk samples of up to an aggregate of 60,000 tonnes from three (3) different deposits as part of its exploration. Bulk sampled ore can be milled and sold by the Corporation as part of its exploration and does not require the necessary permitting necessitated in the mining phase. Additionally, the Corporation will then be able to do underground DDH drilling to target what it believes to be higher grade minerals lying at depth. Historically, the East Zone was approximately 400 feet long but with limited sampling indicated narrow widths. Inspiration's drilling has been concentrated in the northern portion and down plunge of the East Zone below the 315-foot mine level to a vertical depth of approximately 825 feet below surface. The current sampling practice of Inspiration has identified a broad halo zone of greater than 0.20% Ni with several higher-grade intersections greater than 2.0% Ni exceeding 20 metres in true width. The assaying of split core samples was conducted by Swastika Laboratories, and included the insertion of blanks and standards. The Qualified Person in charge of the Langmuir Project and the person who prepared the technical data in this release is Andre Ciesielski, P.Geo. The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Forward Looking Statements This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward looking statements and Inspiration assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

Contact Information
Inspiration Mining Corporation
Randy Miller
Chief Executive Officer
416-842-9000
www.inspirationmining.com

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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Inspiration Responds To Recent Email Campaign (02-Sep-2014)

September, 02 2014 TSX - ISM Frankfurt- OI8

 

September 2, 2014 TSX - ISM Frankfurt - OI8 OTC US - IRMGF Toronto, Ontario - Further to its press release of August 29, 2014, Inspiration Mining Corporation (the -Corporation-) said today that it has been made aware of a recent email campaign concerning the Corporation and its Langmuir property. The Corporation does not nor has it ever had any relationship or arrangement with the individuals or companies that are behind the email campaign. In addition, the Corporation has no knowledge of the information contained in such emails or the proposed valuation of the Corporation's Langmuir property contained in several of the emails. Information concerning the Corporation's Langmuir property can be found in the Corporation's various press releases and in its National Instrument 43-101 - Standards of Disclosure for Mineral Projects compliant resource estimate report for the Langmuir North Deposit and the Langmuir No 1 Deposit. (the -Micon Report-) prepared by Micon International Limited (-Micon-) in 2010. A copy of the Micon Report and the various press releases pertaining to the Langmuir property can be viewed under the Corporation's profile on the SEDAR website (www.sedar.com). This news release is being issued at the request of Market Surveillance at IIROC on behalf of the Toronto Stock Exchange. For further information, please contact Randy Miller, Chief Executive Officer of the Corporation, at tel: 416-842-9000, www.inspirationmining.com The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release Forward Looking Statements This news release contains -forward-looking statements- within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as -plans-, -anticipated-, -expects- or -does not expect-, -is expected-, -budget-, -scheduled-, -estimates-, -forecasts-, -intends-, -anticipates- or -does not anticipate-, or -believes-, or variations of such words and phrases or state that certain actions, events or results -may-, -could-, -would-, -might- or -will be taken-, -occur- or -be achieved-. Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward looking statements and Inspiration assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events o.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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Inspiration Responds to Trading Activity For Immediete Release (29-Aug-2014)

August, 29 2014 TSX - ISM Frankfurt- OI8

 

August 29, 2014 TSX - ISM Frankfurt - OI8 OTC US - IRMGF Toronto, Ontario Inspiration Mining Corporation (the Corporation ) said today that the Corporation is not aware of any specific factors, other than information previously disclosed in its public filings, news releases or statements, which would result in the levels of trading activity and change in the share price recorded today. This news release is being issued at the request of Market Surveillance at IIROC on behalf of the Toronto Stock Exchange. For further information, please contact Randy Miller, Chief Executive Officer of the Corporation, at tel: 416-842-9000, www.inspirationmining.com The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release Forward Looking Statements This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as plans , anticipated , expects or does not expect , is expected , budget , scheduled , estimates , forecasts , intends , anticipates or does not anticipate , or believes , or variations of such words and phrases or state that certain actions, events or results may , could , would , might or will be taken , occur or be achieved . Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward looking statements and Inspiration assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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Inspiration to Proceed With the Dewatering of Langmuir No. 1 Mine (02-June-2014)

June, 02 2014 TSX - ISM Frankfurt- OI8

 

TORONTO, ONTARIO--(Marketwired - June 2, 2014) - Inspiration Mining Corporation (the "Corporation") (TSX:ISM)(FRANKFURT:OI8)(PINKSHEETS:IRMGF) would like to announce that it intends to proceed with the dewatering of the existing ramp (the "Ramp") to the Langmuir No. 1 mine. The Corporation intends to dewater the Ramp in order to commence an advanced exploration program in the higher grade mineralization ore body which occurs in the Langmuir No. 1 mine. The dewatering process requires a permit to take water ("PTTW") application to the Ministry of the Environment. The PTTW is required to ensure safe working conditions and to supply process water for the mining operations. To support its application, the Corporation retained AMEC Earth & Environmental, a division of AMEC Americas Limited ("AMEC"), to undertake a hydrogeological study.

The Ramp was used by the property's former owner, Timmins Nickel, to extract over 100,000 tonnes of ore with an average of 2.2% nickel. Langmuir No. 1 mine is an underground mine which is only accessible through the use of the Ramp, which extends to a length of 1,650 feet. Upon the cessation of operations by Timmins Nickel, the Langmuir No. 1 mine and the Ramp were allowed to be filled with ground and rain water.

The results of the AMEC study were issued on September 3, 2008. That study was quite extensive and had to be based on a large number of factors, including surface water drainage, nature of the overburden and bedrock, groundwater chemistry, the details, underground water flow, and a multitude of environmental factors. The preparation of also required consideration not only all historical data for the area as well as the baseline environmental report by BZ Environmental. Details not otherwise available were developed through additional DDH drilling by AMEC to provide information.

In addition, a numerical 3D steady-state groundwater flow (MODFLOW) model was developed to estimate seepage into the underground workings at the Langmuir No.1 mine site and to access the zone-of-influence associated with the long-term mine dewatering operations. The model is based on the previously developed groundwater flow model for the McWatters Mine Site located at a distance of about 2 km to the south of the Langmuir No.1 Mine site.

Model simulations, conducted for the Langmuir No 1 mine site by AMEC, showed that:

-   Long-term groundwater seepage into the increased (by about 25%) existing underground mine workings is expected to be about 150 m,

-   Zone-of-influence, defined by the 0.3 m drawdown contour, is predicted to not exceed about 2 km from the mine site,

-   Reduction of the groundwater flow contribution to the unnamed creek, originating at a distance of about 750 m to the south-east of the mine site, is predicted to be 50 m, and

-   Total groundwater flow contribution to Night Hawk Lake and its tributaries is predicted to be reduced by about 65 m due to the dewatering of the Langmuir No.1 Mine.

Based on the above, AMEC concluded in its report that dewatering of the underground workings at the Langmuir No. 1 mine site may have a relatively limited impact on the nearby surface water features. However, impact on other surface water features, located further away from the mine site, is expected to be non-measurable or negligible.

"The dewatering process will represent a significant step forward in the advancement of the property," stated Randy Miller, the President of the Corporation. "The dewatering of the ramp is necessary for the Corporation to access the higher grade ore body in the Langmuir No. 1 Mine. Once access is obtained, the Corporation will be in a position to further advance the property."

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward looking statements and Inspiration assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

Inspiration Mining Corporation
Randy Miller
Chief Executive Officer
416-842-9000
www.inspirationmining.com

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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Inspiration Updates Dewater Process (26-May-2014)

May, 26 2014 TSX - ISM Frankfurt- OI8

 

TORONTO, ONTARIO--(Marketwired - May 26, 2014) - Inspiration Mining Corporation (the "Corporation") (TSX:ISM)(PINKSHEETS:IRMGF)(FRANKFURT:OI8) would like to announce that it is in the process of moving forward on its Langmuir Nickel Property in the Timmins area of Ontario. The Corporation has performed all of the requisite filings and steps for the conversion of its claims to a lease and is now waiting for final approval from the Ministry of Northern Development &Mining. The Corporation is focused upon the advanced exploration of the higher grade underground mineralization at the location of the Langmuir No. 1 Mine.

The next step for the exploration of the Langmuir No. 1 Mine is for the Corporation to access the underground mine which was last operated by the former owner, Timmins Nickel, when it simply stopped production due to bankruptcy filing in 1991. The underground ore body was being accessed through the existing ramp. When production was interrupted, that ramp was simply abandoned and over time it was flooded with ground water which is its present condition.

The dewatering of the ramp will provide direct access to the underground workings at a fraction of the costs if the ramp did not exist. The necessary approvals for the dewatering will be primarily dependent upon environmental issues. Anticipating those issues, the Corporation retained BZ Environmental to complete a comprehensive baseline study of the whole Langmuir property. That report, which was undertaken in 2006 and completed in 2007, involved separate surveys of water quality, sediment quality and benthic macro invertebrate survey, which are the necessary basis for the environmental impact of advanced exploration and, ultimately, mining of the property.

Following the completion of the BZ Environmental, the Corporation engaged Blue Heron Solutions for Environmental Management Inc. ("Blue Heron") to initiate the necessary environmental permitting initiatives in order for the Corporation to obtain the necessary approvals for the dewatering of the Langmuir No. 1 Mine. Using the BZ Environmental Report, Blue Heron identified the required ministerial, environmental and local approvals to commence the dewatering process and completed conceptual engineering related to the dewatering process.

In preparation for the dewatering process and other advanced exploration activities, Blue Heron, acting as an independent third party consultant, has reviewed the baseline study and completed the conceptual engineering related to the dewatering process. From that, it determined that the dewatering process does not trigger any environmental assessment under the Canadian Environmental Assessment Act.

These activities are required in order for the Corporation to submit the necessary permit applications for the dewatering process. Apart from that, the Corporation is progressing to the necessary consultations with the appropriate stakeholders and aboriginal parties in order to ensure that all future exploration activities on the Langmuir property are done in an efficient and responsible manner.

"The Corporation has made tremendous strides in obtaining the necessary approvals and permits necessary to commence the dewatering process," stated Randy Miller, the President of the Corporation, "and are awaiting final governmental approval. Upon the receipt of such approval, the Corporation will take its next significant step in the advancement of the Langmuir Property."

Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward-looking statements and Inspiration assumes no obligation to update or revise the forward-looking statements contained in this release to reflect actual events or new circumstances.

Inspiration Mining Corporation
Randy Miller
Chief Executive Officer
416-842-9000
416-865-3368
www.inspirationmining.com

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Inspiration to Dewater Langmuir No. 1 Mine and Advance the Langmuir Property (20-May-2014)

May, 20 2014 TSX - ISM Frankfurt- OI8

 

TORONTO, ONTARIO--(Marketwired - May 20, 2014) - Inspiration Mining Corporation (the "Corporation") (TSX:ISM)(FRANKFURT:OI8)(PINKSHEETS:IRMGF) would like to provide an update as to its current operations at its Langmuir property.

The Corporation continues to move towards converting its claims in to a lease and is in the final phase of such process. Once the claims have been converted into leases, the claims will be treated as real estate wholly owned by the Corporation and will no longer be subject to any payments to the Government of Ontario.

In addition, the Corporation intends to begin the process of dewatering the existing ramp to the Langmuir No. 1 mine. The Langmuir No. 1 mine was actively producing until such time that it was closed in 1992 as a result of Timmins Nickel filing for bankruptcy. Prior to its closure, the Langmuir No. 1 mine produced in excess of 100,000 tonnes, grading over 2.2% nickel.

About Langmuir Property

The Langmuir Property consists of a number of generally continuous claim groups covering well over 11 square kms. The extensive nickel mineralization identified to date occurs at various zones, separated by in distances and in depth. To date the Corporation has completed approximately 90,000 meters of drilling.

Although additional zones of nickel mineralization of significance have been identified, the Corporation's exploration activities were focused on preparing its National Instrument 43-101 - Standards of Disclosure for Mineral Projects compliant resource estimate report for the Langmuir North Deposit and the Langmuir No. 1 Deposit. (the "Micon Report") prepared by Micon International Limited ("Micon") in 2010. A copy of the Micon Report can be viewed under the Corporation's profile on the SEDAR website (www.sedar.com).

Based on the drilling completed at the time, the Micon Report identified two separate measured and indicated resource deposits:

 

                 
    Tonnes            
Deposit   (Million)   % Nickel     Cut-Off  
                 
Langmuir North   8,324,000   0.47 %   0.30 %
Langmuir No. 1   1,733,000   0.51 %   0.20 %

 

The Langmuir North deposit lies in the extreme north-eastern area of what is referred to as the Langmuir Claims. An aggregate of 34,000 metres of drilling was completed in 170 drill holes at the Langmuir North location to a depth of 340 metres from surface. As the mineralization was still open at that depth, only the mineralization to that depth was considered in the technical reports published to this time. Notwithstanding that, the Micon Report notes that the full resource of the Langmuir North strike is not yet fully determined.

In the Micon Report, Micon concluded that, "On the basis of the exploration work completed to-date, Micon agrees with Inspiration's opinion that potential remains to locate additional nickel mineralization similar to that which has been outlined at the Langmuir North and Langmuir No. 1 deposits. Micon believes that the potential exists on the property to locate an additional 20-40 million tonnes of nickelbearing material at similar grades to those found at the Langmuir North and Langmuir No. 1 deposits. As well, Micon agrees that potential remains to locate additional concentrations of nickel mineralization similar to that which has been exploited at the Langmuir No. 1 mine at depth. It is to be stressed that the potential quantity and grade is conceptual in nature, that there has been insufficient exploration to define a mineral resource of said tonnage and grade, and that it is uncertain if further exploration will result in the target being delineated as a mineral resource."

The Langmuir No. 2 deposit lies generally to the northeast of the existing but presently dormant Langmuir No. 1 mine (which is a distinctly different deposit than, and should not be confused with, the Langmuir No. 1 mine.)

The following is a general map of the Langmuir Claims, showing the approximate location of the Langmuir North and the Langmuir No. 1 deposits:

To view the map associated with this release, please visit the following link:http://media3.marketwire.com/docs/Langmuir%20map.pdf.

To delineate the higher grade deposit of the Langmuir No. 1 mine itself, the Corporation intends to undertake a two phase exploration process. The first phase will include the dewatering and, to the extent necessary, repair of the existing ramp which extends into the ore body of the mine with a view of extracting bulk samples of up to 60,000 tonnes. Under applicable law, bulk sampled ore can be milled and sold by the Corporation as part of its exploration and does not require the permitting otherwise necessitated in the mining phase. The Corporation currently has a tentative arrangement with the owners of the mill and flotation circuit located within a few kilometres of the Langmuir No. 1 mine.

Once the dewatering process is completed, the Corporation will also be able to commence underground drilling to target what it believes to be higher grade nickel deposits.

Mr. Randy Miller, the President and Chief Executive Officer of the Corporation, stated, "The Corporation continues to advance the Langmuir property with a view of better defining the deposits and exploring the additional exploration targets that can significantly increase the size of the mineralization on the property. The Corporation is committed to the further exploration of the property in order to fully explore and develop the full potential of the property to become a viable source for nickel in the future."

The Nickel Market

Over recent months, the price of nickel has steadily increased, recently reaching over $9.00 US per pound. That upward trend is the result of a number of factors. The most immediate cause has been Indonesia's ban on the export of unprocessed ore. As Indonesia is the world's largest nickel producer, producing roughly 25% of the world's supply of nickel, the impact of its ban has been dramatic. As reference, the impact of Indonesia's ban is similar to the effects if the Middle-Eastern countries (such as Kuwait, Iran, Iraq, Saudi Arabia, etc.) collectively banned the export of their oil production at the same time.

In addition to Indonesia's ban, the price of nickel has also been impacted by the recent sanctions imposed by various countries on Russia, which is the world's second largest nickel producer, due to its actions in and surrounding the Crimea. The various sanctions have impacted Russia's ability to export nickel.

As a result of the Indonesia ban and the sanctions imposed on Russia, countries are now stocking nickel and searching for alternative sources of nickel which has resulted in the upwards trend on nickel prices. As there is no foreseeable end to the Indonesian ban or the sanctions imposed on Russia, the Corporation is confident that the nickel prices will experience a long term of price stabilization similar to 2011.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward looking statements and Inspiration assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

Inspiration Mining Corporation
Randy Miller
Chief Executive Officer
416-842-9000
www.inspirationmining.com

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Inspiration Continues to Advance the Langmuir Property (08-April-2014)

April, 08 2014 TSX - ISM Frankfurt- OI8

 

TORONTO, ONTARIO--(Marketwired - April 8, 2014) - Inspiration Mining Corporation (the "Corporation") (TSX:ISM) (FRANKFURT:OI8) would like to provide an update as to its current operations at its Langmuir property. Further to its press release of February 5, 2014, the Corporation is continuing with the process of converting its mining claims in the Langmuir into mining leases.

As background, mineral claims allow the holder to conduct exploration on the property covered by those claims. When mineral discoveries are made, those claims can be converted to leases, which is similar to actual fee ownership of the mineral rights to those properties. This is a preliminary step in the process of developing mining of those properties.

One of the fundamental requirements in taking a property to lease is the determination of which existing hazardous and other conditions found on the property are the responsibility of the lessee and which are not. In the case of the Langmuir properties, this process was unusually complicated due to the historic mines and mills which were abandoned on the property. Another basic requirement is the completion of a professional survey of the property by a licensed surveyor. Part of that process is determining, and then establishing permanent monuments, designing the precise boundaries of such claims. This process involves significant physical efforts and, due to the harshness of the past winter, has taken more time than anticipated. Notwithstanding that, the survey of the Langmuir property and its acceptance by the ministry is approaching completion.

Langmuir Property

The Langmuir Property comprises 69 mining claims covering 1121 hectares in the Langmuir Township, 25 km southeast of Timmins, Ontario. It hosts the past nickel producing mines of Langmuir No. 1 and 2.

In 2010, Micon International Limited ("Micon") completed the National Instrument 43-101 compliant resource estimate report (the "Micon Report") for the Langmuir North Deposit and the Langmuir No 1 Deposit. A copy of the Micon Report can be viewed under the Corporation's profile on the SEDAR website (www.sedar.com).

Given that the Langmuir No. 1 mine already has some infrastructure in place, such as its access ramp, and the presence of high grade nickel (ranging from 1.5% to 15%, as ret out in the Micon Report), the Corporation is of the opinion that in light of the current economics, it will make economic sense to further advance the Langmuir No. 1 deposit.

The Corporation has completed several internal studies which supports its decision to focus on the development of the Langmuir No. 1 mine. Based on the results of such studies, the Corporation is confident that once the ramp is reopened and the mine is dewatered, it will be able to proceed with preliminary underground drilling with the objective of completing a bulk sample.

Underground exploration and mining of Langmuir No. 1 deposit dates back to 1976 when a ramp was first constructed by Noranda, which then owned those claims. That ramp was 12 foot by 15 foot and extended to a length of 1,250 feet. Noranda ceased underground development of the ramp in 1977, 70 m short of the deposit, due to what it explained as deteriorating economic conditions in its mining operations. When Timmins Nickel subsequently took control of the property, it completed the dewatering of Noranda ramp, extended the ramp for 400 feet (121.9 m) to the 315 foot mine level. It then completed 4,652 feet (1,417.9 m) of underground diamond drilling and metallurgical and ore compatibility studies

During 1990 and 1991, 101,132 tonnes of ore, grading 1.74 nickel was milled from the Langmuir No. 1 mine. However, all underground work at the Langmuir No.1 site ceased in early 1992, when Timmins Nickel was petitioned into bankruptcy. Since the mine closed a further 33,569 metres of resource definition drilling has been completed resulting in a total of 18,776 core samples, which have been analyzed for the Langmuir No.1 deposit. As set out in the Herron Report dated May 17, 2004, the testing to that date has resulted in 127,000 tonnes of inferred resource, grading 2.21% Nickel.

The reader is cautioned that the quantities and grades reported as inferred resources are conceptual in nature and there has been insufficient exploration to define indicated mineral resources in these deposits, and it is uncertain if further exploration will result in delineation of indicated or measured mineral resource in these deposits.

The current sampling practice of the Corporation has identified a broad halo zone of greater than 0.20% Ni with several higher grade intersections greater than 2.0% Ni exceeding 20 metres in true width. This extensive surface DDH drilling, together with the Micon Report, dated January 6, 2010, and the NordPro report, dated May 16, 2012, have all been primarily directed to the extensive, but lower grade, disseminate resources which are inferred to be the halo effect. The higher grade massive resource detected at, and open at, depth have not, at this point, been pursued. The Corporation's near term intent is to direct its attention to the dewatering and, to the extent necessary, repair of the ramp to give it access to this higher grade ore.

The processes to be pursued are two-fold. The Corporation is allowed to extract bulk samples of up to an aggregate of 60,000 tonnes from three (3) different deposits as part of its exploration. Bulk sampled ore can be milled and sold by the Corporation as part of its exploration and does not require the necessary permitting necessitated in the mining phase. Additionally, the Corporation will then be able to do underground DDH drilling to target what it believes to be higher grade minerals lying at depth.

Historically, the East Zone was approximately 400 feet long but with limited sampling indicated narrow widths. Inspiration's drilling has been concentrated in the northern portion and down plunge of the East Zone below the 315-foot mine level to a vertical depth of approximately 825 feet below surface. The current sampling practice of Inspiration has identified a broad halo zone of greater than 0.20% Ni with several higher-grade intersections greater than 2.0% Ni exceeding 20 metres in true width.

The assaying of split core samples was conducted by Swastika Laboratories, and included the insertion of blanks and standards. The Qualified Person in charge of the Langmuir Project and the person who prepared the technical data in this release is Andre Ciesielski, P.Geo.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward looking statements and Inspiration assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

Inspiration Mining Corporation
Randy Miller
Chief Executive Officer
416-842-9000
www.inspirationmining.com

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Inspiration Adopts Advance Notice By-Law and Announces New Date for Shareholder Meeting (10-March-2014)

March, 10 2014 TSX - ISM Frankfurt- OI8

 

TORONTO, ONTARIO -Inspiration Mining Corporation (TSX:ISM)(FRANKFURT:OI8) (the "Corporation") announces that on March 4, 2014, its board of directors (the "Board") approved and adopted an amendment to its by-laws ("By-Laws") to include advance notice provisions (the "Policy"), the purpose of which is to require advance notice to the Corporation in circumstances where nominations of persons for election to the Board are made by shareholders of the Corporation (the "Shareholders") other than pursuant to: (i) a requisition of a meeting of Shareholders made pursuant to the provisions of the Business Corporations Act (Ontario) (the "Act"); or (ii) a Shareholder proposal made pursuant to the provisions of the Act

The Policy fixes a deadline by which Shareholders must submit director nominations to the secretary of the Corporation prior to any annual or special meeting of Shareholders and sets forth the specific information that a Shareholder must include in the written notice to the secretary of the Corporation for an effective nomination to occur. No person will be eligible for election as a director of the Corporation unless nominated in accordance with the provisions of the Policy.

The Board believes that the amendments provide a clear and transparent process for all Shareholders to follow if they intend to nominate directors. In that regard, the amendments provide a reasonable time frame for Shareholders to notify the Corporation of their intention to nominate directors and require Shareholders to disclose information concerning the proposed nominees that is mandated by applicable securities laws. The Board will be able to evaluate the proposed nominees' qualifications and suitability as directors, and respond as appropriate in the best interests of the Corporation. The amendments are also intended to facilitate an orderly and efficient meeting process.

In the case of an annual meeting of Shareholders, notice to the Corporation must be made not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.

In the case of a special meeting of Shareholders (which is not also an annual meeting), notice to the Corporation must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.

The Policy is effective immediately and will be placed before Shareholders for ratification at the upcoming annual general and special meeting of Shareholders (the "Meeting") to be held on April 4, 2014. If the Policy is not confirmed at the Meeting by resolution of Shareholders, the Policy will terminate and be of no further force and effect following the termination of the Meeting.

The Corporation will also like to announce that the date for its upcoming annual and special shareholders' meeting has been changed to April 4, 2014 from March 28, 2014.

 

Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward looking statements and Inspiration assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

Inspiration Mining Corporation
Randy Miller
Chief Executive Officer
416-865-3368
416-842-9000
www.inspirationmining.com

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Inspiration at the Prospectors and Developers Association of Canada Mining Convention (27-Feb-2014)

February, 27 2014 TSX - ISM Frankfurt- OI8

 

 

TORONTO, ONTARIO--(Marketwired - Feb. 27, 2014) - Inspiration Mining Corporation (TSX:ISM) (FRANKFURT:OI8)(the "Corporation") is pleased to announce that it will have a booth at the Prospectors and Developers Association of Canada ("PDAC") mining convention. PDAC is hosting its annual mining convention at the Metro Convention Center in Toronto from March 2 through March 5. The PDAC convention is the largest annual gathering of prospectors and miners in the world.

Inspiration will participate in the PDAC convention by having booth number 2628 on the convention floor. The company invites all interested individuals to visit Inspiration at its booth for the latest information on its Langmuir property and its various other properties.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward looking statements and Inspiration assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

Inspiration Mining Corporation
Randy Miller
Chief Executive Officer
416-842-9000
www.inspirationmining.com

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Inspiration to take Langmuir Property to Lease (05-Feb-2014)

February, 05 2014 TSX - ISM Frankfurt- OI8

Toronto, Ontario " Inspiration Mining Corporation (the "Corporation") is pleased to announce that it has received ministerial approval to take its Langmuir Property to lease. Taking the Langmuir Property to lease is an important step in the Corporation"s development from being an exploration company to being and a production company.

In order to bring the property to lease, the Corporation is required to have the Langmuir Property surveyed by a certified land surveyor, which such survey is currently underway and is anticipated to be completed in the first quarter of 2014. The Corporation has retained Exp Geomatics Inc. to complete the land survey.

"We are pleased that Exp Geomatics has commenced the surveying of the Langmuir Property," said Randy Miller, President of the Corporation. "Exp Geomatics has the necessary knowledge and skill to complete the survey in a professional manner. The surveying of the property is the last critical step in the Corporation bringing the Langmuir Property to lease. This represents a significant step in the continued development of the property and the Corporation into a production company."

Langmuir Property

The Langmuir Property comprises 69 mining claims covering 1121 hectares in the Langmuir Township, 25 km southeast of Timmins, Ontario. It hosts the past nickel producing mines of Langmuir No. 1 and 2.

In 2010, Micon International Limited ("Micon") completed the National Instrument 43-101 compliant resource estimate report (the "Micon Report") for the Langmuir North Deposit and the Langmuir No 1 Deposit. A copy of the Micon Report can be viewed under the Corporation's profile on the SEDAR website (www.sedar.com).

Given that the Langmuir No. 1 mine already has some infrastructure in place, such as its access ramp, and the presence of high grade nickel (ranging from 1.5% to 15%, as ret out in the Micon Report), the Corporation is of the opinion that in light of the current economics, it will make economic sense to further advance the Langmuir No. 1 deposit.

The Corporation has completed several internal studies which supports its decision to focus on the development of the Langmuir No. 1 mine. Based on the results of such studies, the Corporation is confident that once the ramp is reopened and the mine is dewatered, it will be able to proceed with preliminary underground drilling with the objective of completing a bulk sample.

For further information, please contact Randy Miller, Chief Executive Officer of the Company, at tel: 416-842-9000,www.inspirationmining.com

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward looking statements and Inspiration assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

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