|By Marketwired .||
|May 26, 2014 05:27 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 05/26/14 -- Inspiration Mining Corporation (the "Corporation") (TSX:ISM)(PINKSHEETS:IRMGF)(FRANKFURT:OI8) would like to announce that it is in the process of moving forward on its Langmuir Nickel Property in the Timmins area of Ontario. The Corporation has performed all of the requisite filings and steps for the conversion of its claims to a lease and is now waiting for final approval from the Ministry of Northern Development &Mining. The Corporation is focused upon the advanced exploration of the higher grade underground mineralization at the location of the Langmuir No. 1 Mine.
The next step for the exploration of the Langmuir No. 1 Mine is for the Corporation to access the underground mine which was last operated by the former owner, Timmins Nickel, when it simply stopped production due to bankruptcy filing in 1991. The underground ore body was being accessed through the existing ramp. When production was interrupted, that ramp was simply abandoned and over time it was flooded with ground water which is its present condition.
The dewatering of the ramp will provide direct access to the underground workings at a fraction of the costs if the ramp did not exist. The necessary approvals for the dewatering will be primarily dependent upon environmental issues. Anticipating those issues, the Corporation retained BZ Environmental to complete a comprehensive baseline study of the whole Langmuir property. That report, which was undertaken in 2006 and completed in 2007, involved separate surveys of water quality, sediment quality and benthic macro invertebrate survey, which are the necessary basis for the environmental impact of advanced exploration and, ultimately, mining of the property.
Following the completion of the BZ Environmental, the Corporation engaged Blue Heron Solutions for Environmental Management Inc. ("Blue Heron") to initiate the necessary environmental permitting initiatives in order for the Corporation to obtain the necessary approvals for the dewatering of the Langmuir No. 1 Mine. Using the BZ Environmental Report, Blue Heron identified the required ministerial, environmental and local approvals to commence the dewatering process and completed conceptual engineering related to the dewatering process.
In preparation for the dewatering process and other advanced exploration activities, Blue Heron, acting as an independent third party consultant, has reviewed the baseline study and completed the conceptual engineering related to the dewatering process. From that, it determined that the dewatering process does not trigger any environmental assessment under the Canadian Environmental Assessment Act.
These activities are required in order for the Corporation to submit the necessary permit applications for the dewatering process. Apart from that, the Corporation is progressing to the necessary consultations with the appropriate stakeholders and aboriginal parties in order to ensure that all future exploration activities on the Langmuir property are done in an efficient and responsible manner.
"The Corporation has made tremendous strides in obtaining the necessary approvals and permits necessary to commence the dewatering process," stated Randy Miller, the President of the Corporation, "and are awaiting final governmental approval. Upon the receipt of such approval, the Corporation will take its next significant step in the advancement of the Langmuir Property."
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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.
Inspiration Mining Corporation
Chief Executive Officer