FOR IMMEDIATE RELEASE
|May, 16 2008||TSX - ISM Frankfurt- OI8|
InspirationMining Corp. (the "Corporation") (TSX: ISM)(FRANKFURT: OI8) is pleasedto announce it has commissioned Micon International of Toronto,Ontario, Canada to prepare a mineral resource estimate, a preliminaryeconomic assessment (commonly referred to as a scoping study) andtechnical report on its Langmuir property. It is anticipated that theproject will be undertaken in the following phases:
Phase I -Mineral resource estimates for Langmuir No. 1 in preparation of a bulksample and mineral resource estimates for Langmuir No. 2. The mineralresource estimate will include Trend Analysis, Cut-Off Grade Estimates,Compositing, Bulk Density Review, Block Model Construction andValidation, and Open Pit Optimization for Langmuir No. 2.
PhaseII - Preliminary economic assessments examining the potential economicviability of each zone of mineralization. This assessment willcontemplate excavation of the mineralization at the Langmuir No.1deposit by means of underground mining methods, and the excavation ofthe mineralization at the Langmuir No. 2 deposit by means of open pitmining methods. The results of the mineral resource estimates andpreliminary economic assessment will be compiled in compliance withNational Instrument 43-101.
Since 1959, the presence of nickelmineralization at the Langmuir property has been known with a smallamount of production from the Langmuir No. 1 mine during the 1970-1978period and again briefly during 1990-1991 using underground miningmethods. Since 2005, Inspiration Mining has conducted an explorationand in-fill drilling program designed to identify the extension of themineralization from the past producing zones at the Langmuir No. 1deposit. At Langmuir No. 2, the Company has focused on the wide zonesof mineralization extending from the past producing mine that may beexploited by means of open pit mining methods.
Themineralization at the Langmuir property is believed to be an example ofa komatiite-hosted nickel deposit, similar to that found at the Raglanmine in northern Quebec, and in the Kambalda region of WesternAustralia. In these types of deposits, nickel mineralization can occuras small, but high grade, pods of massive sulphides that are situatedin the keels of volcanic flows of ultramafic composition, and asdisseminated and net-textured deposits that have lower grades, but areof larger sizes. Several occurrences of nickel mineralization have beenoutlined by Inspiration Mining, including the Langmuir No. 1 and theLangmuir No. 2 North and South Zones.
"We have taken asignificant step towards the development of our project with today'sannouncement," said Randy Miller, President and CEO of InspirationMining. "We will continue to expand the scope of the program based offthe results we have achieved and look forward to working with MiconInternational on this phase of the project."
Since 1988, MiconInternational Limited has provided consulting services to theinternational mining industry with particular focus upon mineralresource estimations, metallurgical services, mine design andproduction scheduling, preparation of pre-feasibility and feasibilitystudies, independent reviews of mining and mineral properties, projectmonitoring, independent engineer roles, financial analysis andlitigation support. Micon has extensive experience with sulphide nickeldeposits working on projects from Sudbury, Ontario to the Norilsk minesite in Russia.
Micon's clients include mining and mineralexploration companies, financial institutions and government agenciesfrom around the world. A particular expertise has been developed in theeconomic evaluation of mining properties, including studies in supportof debt and equity financing. Micon's professional staff has theexperience, education and professional credentials to act as QualifiedPersons and/or Competent Persons, as required by world-wide regulatoryagencies.
Forward Looking Statements
This updatecontains "forward looking statements" within the meaning of the UnitedStates Private Securities Litigation Reform Act of 1995 and applicableCanadian securities legislation. Generally, these forward lookingstatements can be identified by the use of forward looking terminologysuch as "plans", "anticipated", "expects" or "does not expect", "isexpected", "budget", "scheduled", "estimates", "forecasts", "intends","anticipates" or "does not anticipate", or "believes", or variations ofsuch words and phrases or state that certain actions, events or results"may", "could", "would", "might" or "will be taken", "occur" or "beachieved". Inspiration is subject to significant risks anduncertainties which may cause the actual results, performance orachievements to be materially different from any future results,performance, or achievements expressed or implied by the forwardlooking statements contained in this release. Inspiration cannot assureinvestors that actual results will be consistent with these forwardlooking statements and Inspiration assumes no obligation to update orrevise the forward looking statements contained in this release toreflect actual events or new circumstances.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.