INSPIRATION MINING CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(EXPRESSED IN CANADIAN DOLLARS)
YEARS ENDED SEPTEMBER 30, 2008 AND 2007
8. MINERAL PROPERTY HELD FOR SALE
Mineral property held for sale refers to the Jasper claims that the Company intends to sell during the year
AND
Pursuant to a purchase agreement dated December 1, 2007 but effective as at July 30, 2007, the Company
agreed to sell the Jasper Property for its costs of $638,156 to Nitinat Minerals Corporation ("Nitinat") in
exchange for 13,367,904 special warrants ("Special Warrants"). Each Special Warrant entitles the holder to
acquire (subject to adjustment), for no further consideration, one common share in the capital of Nitinat (the
"Nitinat Common Shares") at any time on or before the date (the "Expiry Date") which is the earlier of:
i) the sixth business day after the date that a receipt (the "Prospectus Receipt") is issued by the
last of the securities regulatory authorities of Ontario, Alberta and British Columbia for a (final)
prospectus of the Purchaser qualifying the distribution of the Nitinat Common Shares to be
issued upon exercise of the Special Warrants; and
ii) May 1, 2009.
Me no likey.
