Inspiration Mining Corporation

Inspiration Mining Corporation

April 21, 2011 09:00 ET

Inspiration Announces Retirement of Chief Financial Officer James Davis and Appoints Peter Anderson as Successor

TORONTO, ONTARIO--(Marketwire - April 21, 2011) - Inspiration Mining Corporation ("Inspiration" or the "Corporation") (TSX:ISM)(FRANKFURT:OI8) today announced that James Davis, its Chief Financial Officer (CFO), is retiring from the company. Mr. Davis has been with Inspiration for the last 10 years as CFO and has been a key contributor to Inspiration's strong financial positioning. Inspiration is pleased to report that Mr. Davis will be succeeded by Peter Anderson as its new Chief Financial Officer. The Corporation has entered into an agreement with Mr. Davis which will allow for his services to be available to Inspiration as needed.

"I will miss Inspiration a great deal, but it is time to now move on to a new chapter in my life that will allow me the freedom to focus on both family and physical well being," Davis said.

"I want to personally thank Jim for his terrific contributions over the last 10 years to Inspiration and wish both Jim and his wife Carol, much happiness in their upcoming retirement," said Randy Miller, CEO, Inspiration Mining.

As part of the ongoing transition, Mr. Anderson has been working closely with the company and Mr. Davis over the last two months to ensure a seamless transition into the new role as CFO.

Mr. Anderson brings to the Corporation a strong background in finance and accounting and has extensive experience in both public and private companies. Peter Anderson is a Certified General Accountant ("CGA") having attained his designation in 1990. Mr. Anderson was formerly the Vice President Finance of Stratacon Inc. During his tenure at Stratacon Inc., the company developed into the largest sub metering company in Canada and he was instrumental in facilitating the sale of Stratacon Inc. to EnerCare Inc. (formerly the Consumers Waterheater Income Fund). Prior to joining Stratacon Inc., Peter Anderson was the Chief Financial Officer of Gas Recovery Systems LLC, a major U.S. based landfill gas to energy company. At the time, Gas Recovery Systems LLC was wholly owned by the Clean Power Income Fund.

"I am very excited and pleased to be working with the team at Inspiration. The Corporation has some great assets and I look forward to being able to contribute to the ongoing development of the business" said Peter Anderson, Chief Financial Officer.

"The Board of Inspiration would also like to congratulate Peter on his appointment as CFO. We are confident that Peter will take over from where Jim has left off and are certain that the company will be well served financially under Peter's guidance," said Ian Stewart, President, Inspiration Mining.

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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