Mr. Randy Miller reports

INSPIRATION MINING CORPORATION TO LAUNCH NORMAL COURSE ISSUER BID

Inspiration Mining Corp. has received regulatory approval from the Toronto Stock Exchange to launch a normal course issuer bid, pursuant to the terms set out in the notice of intention to make a normal course issuer bid filed with the TSX. The market price of the corporation's common shares may be undervalued and not reflective of the actual value of the corporation's assets. The company believes, accordingly, that the purchase of its common shares under the bid is appropriate and in the best interests of the corporation and its stakeholders.

The corporation has 70,403,770 common shares issued and outstanding as at July 5, 2010. The notice provides that under the bid, the corporation may purchase up to 6,567,081 common shares, being 10 per cent of the public float. The notice further provides that, subject to the corporation's ability to make block purchases through the facilities of the TSX in accordance with TSX rules, the aggregate number of common shares that the corporation may purchase during any trading day will not exceed 23,946 shares, being 25 per cent of the average daily trading volume of the shares based on their trading volume on the TSX for the most recently completed six calendar months preceding the date of the notice.

The bid will begin on July 12, 2011, and will terminate on the earlier of July 11, 2012, or such date as the corporation may complete its permitted purchases under the normal course issuer bid. The common shares will be acquired on the open market through the facilities of the TSX at the discretion of management of the corporation. The purchase and payment for the common shares will be made in accordance with the requirements of the TSX and all other applicable laws. PI Financial Corp. will conduct the normal course issuer bid on behalf of the corporation. The price that the corporation will pay for any common shares acquired will be the market price of the common shares at the time of acquisition. All common shares acquired by the corporation under this bid will be cancelled.

Pursuant to its previous normal course issuer bid, which expired on March 14, 2011, the corporation purchased an aggregate of 3,019,500 common shares at an average weighted price of 29 cents per common share.

We seek Safe Harbor.