Inspiration Mining Corporation

Inspiration Mining Corporation

March 30, 2010 09:30 ET

Inspiration Amends Record Date for Proposed Spin-Out

TORONTO, ONTARIO--(Marketwire - March 30, 2010) - Further to its press releases of March 22 and 29, 2010, Inspiration Mining Corporation (the "Company") (TSX:ISM)(FRANKFURT:OI8) would like to announce that it has revised the record date from April 6 to April 16, 2010. Due to the Easter weekend holidays, the Company felt it was in the interest of its shareholders to change the record date to April 16, 2010.

As previously reported, the Company intends to spin-out its wholly owned subsidiary Metal Mines, Inc. ("Metal Mines") as a separate public company. The Metal Mine shares will be distributed to the shareholders by way of a special dividend. Shareholders of record on April 16, 2010 will be eligible to receive the special dividend. All individuals who wish to purchase the Company's shares through the facilities of the TSX in order to receive the special dividend must do so before close of business on April 13, 2010. For complete details regarding the spin-out, please refer to the Company's press release of March 22, 2010.

The proposed spin-out is subject to regulatory and shareholder approval and there can be no assurance that the proposed spin-out would be completed. The listing of Metal Mine's shares will be subject to Metal Mine meeting the listing criteria of the TSX and there can be no assurance that Metal Mines 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.

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

Contact Information

  • Inspiration Mining Corporation
    Randy Miller
    President of the Corporation
    For Investor Relations call:
    Gale Capital Corporation
    604.221.7606 (FAX)