Mr. Amar Bhalla reports

URSA MAJOR MINERALS SPECIAL COMMITTEE CALLS ON DISSIDENT GROUP FOR MORE DISCLOSURE

Ursa Major Minerals Inc.'s special committee of the board of directors is currently investigating the actions of Inspiration Mining Corp. and other dissident shareholders with respect to the upcoming annual and special meeting of shareholders of the company scheduled to take place on June 23, 2011.

The special committee is concerned that the dissidents, who beneficially own or control over 20 per cent of the company's shares, may have continued to purchase shares of the company while acting jointly and in concert with one another in respect of the meeting. In an effort to resolve this matter, the special committee requested further information from the dissidents. The dissidents have refused to co-operate with the special committee and are refusing to account for their actions.

The special committee is currently considering the appropriate corporate and regulatory alternatives available to the company in order to ensure that shareholders submit their proxies on an informed basis.

We seek Safe Harbor.