TORONTO, ONTARIO, Mar. 22, 2010 (Marketwire) --

TORONTO, ONTARIO -- (Marketwire) -- 03/22/10 -- Inspiration Mining Corporation (the "Company") (TSX: ISM)(FRANKFURT: OI8) would like to announce that it intends to divest itself of the Company's wholly owned subsidiary Metal Mines, Inc. ("Metal Mines") to the shareholders of the Company. Metal Mines is the owner of the Langmuir Property.

Pursuant to the proposed restructuring plan, the Company intends to spin-out Metal Mines as a separate public company whose shares would be listed on the TSX. The current shareholders of the Company will own approximately 90.1% of the issued and outstanding shares of Metal Mines with the remaining 9.9% being retained by the Company. The Metal Mine shares will be distribute to the shareholders by way of a special dividend. Shareholders of record on April 6, 2010 will be eligible to receive the special dividend.

The spin-out of Metal Mines will provide the Company's shareholders with an equity interest in two public companies - Metal Mines and the Company - and will allow the Company to focus on developing its gold and rare earth properties which will be continued to be owned by the Company or its wholly owned subsidiaries.

Mr. Randy Miller, the President of the Company, states "The proposed spin-out of Metal Mines will allow the true value of the Langmuir Property to be unlocked and will also allow the Company to focus its attention on the development of its gold and rare earth properties, the value of which is not reflected in the current market price. On the conclusion of the spin-out, the shareholders of the Company will own shares of two high quality companies."

The proposed spin-out is subject to regulatory and shareholder approval and there can be no assurance that the proposed spin-out would be completed. The listing of Metal Mine's shares will be subject to Metal Mine meeting the listing criteria of the TSX and there can be no assurance that Metal Mines will meet the criteria.

As Metal Mines constitute all or substantially all of the assets of the Company, the proposed divesture must be approved by the Company's shareholders.

TORONTO, ONTARIO, Mar. 29, 2010 (Marketwire) -- Inspiration Mining Corporation (the "Company") (TSX:ISM)(FRANKFURT:OI8) would like to provide additional information regarding its proposed spin-out of the Company's wholly owned subsidiary Metal Mines, Inc. ("Metal Mines") as set out in the Company's press release of March 22, 2010.

Pursuant to the proposed restructuring plan, the Company intends to spin-out Metal Mines as a separate public company whose shares would be listed on the TSX. The current shareholders of the Company will own approximately 90.1% of the issued and outstanding shares of Metal Mines with the remaining 9.9% being retained by the Company. The Metal Mine shares will be distributed to the shareholders by way of a special dividend. Shareholders of record on April 6, 2010 will be eligible to receive the special dividend. All individuals who wish to purchase the Company's shares through the facilities of the TSX in order to receive the special dividend must do so before close of business on March 31, 2010.

The proposed spin-out is subject to regulatory and shareholder approval and there can be no assurance that the proposed spin-out would be completed. The listing of Metal Mine's shares will be subject to Metal Mine meeting the listing criteria of the TSX and there can be no assurance that Metal Mines will meet the criteria.

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