Inspiration Mining Corporation

Inspiration Mining Corporation

May 16, 2008 07:38 ET

Micon International Commissioned for NI 43-101 Report

TORONTO, ONTARIO--(Marketwire - May 16, 2008) - Inspiration Mining Corp. (the "Corporation") (TSX:ISM)(FRANKFURT:OI8) is pleased to announce it has commissioned Micon International of Toronto, Ontario, Canada to prepare a mineral resource estimate, a preliminary economic assessment (commonly referred to as a scoping study) and technical report on its Langmuir property. It is anticipated that the project will be undertaken in the following phases:

Phase I - Mineral resource estimates for Langmuir No. 1 in preparation of a bulk sample and mineral resource estimates for Langmuir No. 2. The mineral resource estimate will include Trend Analysis, Cut-Off Grade Estimates, Compositing, Bulk Density Review, Block Model Construction and Validation, and Open Pit Optimization for Langmuir No. 2.

Phase II - Preliminary economic assessments examining the potential economic viability of each zone of mineralization. This assessment will contemplate excavation of the mineralization at the Langmuir No.1 deposit by means of underground mining methods, and the excavation of the mineralization at the Langmuir No. 2 deposit by means of open pit mining methods. The results of the mineral resource estimates and preliminary economic assessment will be compiled in compliance with National Instrument 43-101.

Since 1959, the presence of nickel mineralization at the Langmuir property has been known with a small amount of production from the Langmuir No. 1 mine during the 1970-1978 period and again briefly during 1990-1991 using underground mining methods. Since 2005, Inspiration Mining has conducted an exploration and in-fill drilling program designed to identify the extension of the mineralization from the past producing zones at the Langmuir No. 1 deposit. At Langmuir No. 2, the Company has focused on the wide zones of mineralization extending from the past producing mine that may be exploited by means of open pit mining methods.

The mineralization at the Langmuir property is believed to be an example of a komatiite-hosted nickel deposit, similar to that found at the Raglan mine in northern Quebec, and in the Kambalda region of Western Australia. In these types of deposits, nickel mineralization can occur as small, but high grade, pods of massive sulphides that are situated in the keels of volcanic flows of ultramafic composition, and as disseminated and net-textured deposits that have lower grades, but are of larger sizes. Several occurrences of nickel mineralization have been outlined by Inspiration Mining, including the Langmuir No. 1 and the Langmuir No. 2 North and South Zones.

"We have taken a significant step towards the development of our project with today's announcement," said Randy Miller, President and CEO of Inspiration Mining. "We will continue to expand the scope of the program based off the results we have achieved and look forward to working with Micon International on this phase of the project."

Since 1988, Micon International Limited has provided consulting services to the international mining industry with particular focus upon mineral resource estimations, metallurgical services, mine design and production scheduling, preparation of pre-feasibility and feasibility studies, independent reviews of mining and mineral properties, project monitoring, independent engineer roles, financial analysis and litigation support. Micon has extensive experience with sulphide nickel deposits working on projects from Sudbury, Ontario to the Norilsk mine site in Russia.

Micon's clients include mining and mineral exploration companies, financial institutions and government agencies from around the world. A particular expertise has been developed in the economic evaluation of mining properties, including studies in support of debt and equity financing. Micon's professional staff has the experience, education and professional credentials to act as Qualified Persons and/or Competent Persons, as required by world-wide regulatory agencies.

Forward Looking Statements

This update 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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