TSX Requests That Record Date for Proposed Spin-Out Be Amended

April, 19 2010 TSX - ISM Frankfurt- OI8

 

Toronto, Ontario Further to its press releases of March 22, 29 and 30, 2010, Inspiration Mining Corporation (the "Company"), at the request of the TSX, is amending the record date to be used with respect to the proposed spin-out of its wholly owned subsidiary, Metal Mines, Inc. ("Metal Mines").

As previously reported, the Company intends to spin-out Metal Mines as a separate public company and had proposed the dates set out in those releases to be the record date. Subsequent to those releases and in consultation with the Exchange, it has been decided that the establishment of a record date for that proposed spin-out not be set until such time that all conditions relating to the transaction have been met, including obtaining all requisite shareholder approval.

In addition to shareholder approval, the proposed spin-out is subject to regulatory approval and there can be no assurance that the Company will obtain the requisite shareholder approval and that the proposed spin-out would be completed. Obviously, the listing of Metal Mines' and the continued listing of the Companys shares will be subject to Metal Mines and the Company meeting the listing criteria of the TSX and there can be no assurance that Metal Mines and the Company will meet the criteria.

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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