Inspiration Mining Corporation
TSX : ISM
FRANKFURT : 0I8

Inspiration Mining Corporation

August 01, 2006 08:33 ET

Inspiration Continues to Prove Open Pit

TORONTO, ONTARIO--(CCNMatthews - Aug. 1, 2006) - Inspiration Mining Corporation (the "Corporation") (TSX VENTURE:ISM)(FRANKFURT:0I8) is pleased to announce the results of the continuation of their diamond drilling program on its Langmuir Project, located in Langmuir Township south of Timmins, Ontario. The Langmuir Property consists of 69 unpatented contiguous mining claim units covering approximately 1090 hectares in the north-central portion of Langmuir Township, Porcupine Mining Division, and District of Cochrane, Ontario. The property is approximately 25 km southeast of Timmins, Ontario, and hosts the past producing Langmuir No.1 Mine, and majority of the past producing Langmuir No. 2 Mine.

Inspiration continues drilling the Langmuir Project -- Langmuir No.2 Mine North Zone, which is located from approximately 80m to 536m northeast of the mine shaft.

The following assay results are from drill holes LN06-28 and Ln06-31, inclusively that were drilled 7m south of the North Zone Section 38+00m North. Drill hole LN06-28 and LN06-29 were drilled approximately 32m and 19m, respectively, up-dip of previously released LN05-21, while LN06-30 and LN06-31 were drilled down-dip of LN05-22 approximately 12m and 36m, respectively. The following table indicates the drill information for these drill holes.



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Drill Hole Grid Grid Dip Azimuth Section Section Length
Northing Easting (ast) Northing Easting (m)
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LN06-28 3263.30 1934.40 -50.00 300.00 3793 43.6 47.00
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LN06-29 3255.20 1948.40 -49.74 300.00 3793 59.8 64.78
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LN06-30 3240.70 1972.50 -63.16 300.00 3793 87.6 127.86
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LN06-31 3234.10 1984.90 -63.79 300.00 3793 101.9 151.90
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Inspiration has received, compiled and condensed the assay results for LN06-28 to LN06-31 as following:



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Drill Hole From (m) To (m) Core True Core True Weighted
Length Width Length Width Average
(m) (m) (ft) (ft) Ni (%)
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LN06-28 24.83 44.00 19.17 15.72 62.89 51.57 0.620
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and contains
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31.85 41.00 9.15 7.50 30.02 24.62 0.943
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includes 33.45 37.10 3.65 2.99 11.98 9.82 1.445
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Drill Hole From (m) To (m) Core True Core True Weighted
Length Width Length Width Average
(m) (m) (ft) (ft) Ni (%)
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LN06-29 28.90 59.90 31.00 25.73 101.71 84.42 0.401
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and contains
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28.90 30.80 1.90 1.58 6.23 5.17 0.583
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and
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34.55 42.50 7.95 6.60 26.08 21.65 0.314
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and
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42.50 59.04 16.54 13.73 54.27 45.04 0.514
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includes 42.50 45.20 2.70 2.24 8.86 7.35 0.664
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50.00 59.04 9.04 7.50 29.66 24.62 0.605
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50.00 55.00 5.00 4.15 16.40 13.62 0.584
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57.45 59.04 1.59 1.32 5.22 4.33 1.352
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LN06-30 66.75 110.75 44.00 29.66 144.36 97.30 0.374
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or
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76.20 110.75 34.55 23.29 113.35 76.40 0.383
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and contains
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66.75 77.20 10.45 7.04 34.28 23.11 0.380
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and
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87.40 110.75 23.35 15.74 76.61 51.63 0.436
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includes 87.40 90.10 2.70 1.82 8.86 5.97 0.572
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91.80 94.40 2.60 1.75 8.53 5.75 0.451
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97.10 109.80 12.70 8.56 41.67 28.08 0.500
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or 101.20 104.90 3.70 2.49 12.14 8.18 0.777
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LN06-31 107.00 136.80 29.80 19.76 97.77 64.82 0.688
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and contains
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107.00 122.80 15.80 10.48 51.84 34.37 0.879
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and includes 107.00 111.50 4.50 2.98 14.76 9.79 0.967
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with 107.00 108.00 1.00 0.66 3.28 2.18 1.250
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109.05 109.70 0.65 0.43 2.13 1.41 1.015
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and contains
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110.45 111.50 1.05 0.70 3.44 2.28 1.405
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111.50 116.13 4.63 3.07 15.19 10.07 0.555
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116.13 122.80 6.67 4.42 21.88 14.51 1.045
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or 118.00 121.00 3.00 1.99 9.84 6.53 1.268
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and
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126.00 136.80 10.80 7.16 35.43 23.49 0.688
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127.00 131.43 4.43 2.94 14.53 9.64 0.769
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with 128.95 129.80 0.85 0.56 2.79 1.85 1.050
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Drill hole LN06-28 collared into the bottom half of the nickel mineralization of the North Zone. The vertical depth of the overburden at this location is approximately 19.0m.

The nickel bearing sulphide mineralization, with estimations ranging from 1% to 20% fine grained disseminations and sulphide blebs up to several centimetres in size, is contained within serpentenized to talcose serpentenized komatiitic ultramafic extrusive flows with occasional spinifex texture.

The assaying technique used is the industry standard for base metal assaying, which uses nitric and hydrochloric acids that extracts nickel only from sulphide mineralization and not from nickel silicate minerals.

The assaying of sawn 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 Kian Jensen, B.Sc., P.Geo. (Ont).

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

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