ISM News from 2004.....LOL it's the circle of life?
Closing of Metal Mines Acquisition
FOR IMMEDIATE RELEASE
| December, 13 2004 |
TSX - ISM Frankfurt- OI8 |
"December 2, 2004, Toronto, Ontario – Inspiration Mining Corporation (the "Corporation") is pleased to announce that, further to its press release dated November 8, 2004, it has completed its acquisition of all of the issued and outstanding common shares of Metal Mines Inc. (“Metal”). Metal is a junior mining company that owns a 100% interest in 54 unpatented contiguous claim units in the north-central part of Langmuir Township, Porcupine Mining Division, Ontario(the "Langmuir Property") and is in the business of nickel-copper-platinum exploration, development and production.
The Langmuir Property is an advanced exploration property with a historical inferred resource of 1,017,400 tones grading 1.38% Ni at four locations with unknown contents of copper, cobalt, gold and platinum group elements. This historical inferred resource based on surface and underground drill holes was calculated by Timmins Nickel Inc. in 1991.
The shareholders of Metal had agreed to exchange their shares of Metal Mines, Inc. for shares of Inspiration Mining Corp. Those shareholders received one and one half (1 1/2) common share of the Corporation for each common share issued and outstanding in the capital of Metal. This resulted in the Company issuing an aggregate of 16,800,000 common shares in the capital of the Corporation to acquire 100% of the outstanding stock of Metal, thereby making Metal a wholly owned subsidiary of the Corporation.
Full details regarding the Langmuir Property can be found in an independent technical report dated May 17, 2004 that was prepared by Gerald A. Harron, P.Eng. of G.A. Harron & Associates Inc. The report is available on the SEDAR website (www.sedar.com)."
http://www.inspirationmining.com/news.html?id=11
