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The company is exploring for nickel deposits on its Langmuir property near Timmins, Ontario; for nickel-gold-copper on its Cleaver and Douglas properties; and for molybdenum and rare earth elements at recently acquired Desrosiers property.

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Interesting news!

posted on Nov 01, 2010 10:45AM

Inspiration Mining Corporation

TSX: ISM
FRANKFURT: OI8

Nov 01, 2010 09:40 ET

Inspiration Mining Requests Special Meeting of Shareholders of URSA Major Minerals Incorporated

TORONTO, ONTARIO--(Marketwire - Nov. 1, 2010) -

Inspiration Mining Corporation ("Inspiration" or the "Corporation") (TSX:ISM)(FRANKFURT:OI8) wishes to announce that pursuant to section 105 of the Business Corporations Act (Ontario), the Corporation has submitted a requisition for the calling of a special meeting of shareholders of URSA Major Minerals Incorporated ("URSA"). The purpose of the meeting is the election of a new slate of directors to be nominated by the Corporation. The Corporation currently owns 9,388,500 common shares or 14.36% of the issued and outstanding shares of Ursa.

Mr. Randy Miller, the Chief Executive Officer of the Corporation, states "Given that the current share price of Ursa does not appropriately reflect it's true value, we believe a new slate of directors would be a critical first step in exploiting Ursa's significant assets and in addition, would better allow for the evaluation of synergistic opportunities that may be presently available."

The Corporation will provide shareholders with regular updates with respect to this matter.

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.

For more information, please contact

Inspiration Mining Corporation
Ian Stewart
President
416.842.9000
www.inspirationmining.com
or
For Investor Relations call:
Gale Capital Corporation
604.221.7604
604.221.7606 (FAX)
[email protected]

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