Inspiration Mining Corporation
TSX : ISM
FRANKFURT : OIB

Inspiration Mining Corporation

December 21, 2010 15:48 ET

Inspiration Mining Acquires Additional Shares of Ursa Major Minerals Incorporated

TORONTO, ONTARIO--(Marketwire - Dec. 21, 2010) - Inspiration Mining Corporation (TSX:ISM)(FRANKFURT:OI8) ("Inspiration" or the "Corporation") wishes to announce that it has acquired an additional 3,337,000 common shares of Ursa Major Minerals Incorporated (the "Company").

As a result of the completion of the additional common shares, Inspiration now owns 13,000,000 common shares of the Company, representing 19.86% of the issued and outstanding common shares of the Company. Inspiration effected the transaction for investment purposes. Inspiration purchased the common shares through the facilities of the TSX.

Inspiration may, depending on market and other conditions, each increase or decrease its respective beneficial ownership, control or direction over common shares of the Company, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.

Inspiration has filed a report describing the above acquisitions with the Ontario Securities Commission, copies of which shall be sent promptly to anyone who requests them from. Inspiration Mining Corporation as noted below.

The information herein has not been approved or disapproved by regulatory authorities.

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
    Ian Stewart
    President and Chief Operating Officer of the Corporation
    416.842.9000
    www.inspirationmining.com
    or
    For Investor Relations call:
    Gale Capital Corporation
    604.221.7604
    604.221.7606 (FAX)
    galecapital@shaw.ca