Orosur Mining Regulatory News (OMI)

18 Oct 2005 10:23

Uruguay Mineral Exploration Inc18 October 2005 URUGUAY MINERAL EXPLORATION INC. MEDIA RELEASE 18th October, 2005: SYMBOLS: UME (TSXV), UGY (AIM) Appointment of Directors Uruguay Mineral Exploration Inc ("UME") is pleased to announce that David ThomasFowler, aged 38, and William Francis Lindqvist, aged 63, have joined the Boardof the Company with immediate effect. Mr Fowler joined UME in March 2004 as General Manager Commercial and has beenappointed executive Finance Director. He is a Chartered Accountant who hasworked in the mining industry over the past 15 years. His last appointment wasChief Financial Officer of Western Metals Limited. Currently his interest in share options in the company is as follows: No. of Options Exercise Price Exercise dates Expiry date 200,000 CDN$4.00 On or before expiry 28 April 2009 50,000 CDN$4.50 In three equal parts on: 16 September 2010 16 September 2006 18 September 2007 16 September 2008 He is a former director of Aberfoyle Gold, Bardoc Gold, Central Mining Fund andMakale Holdings Pty Ltd, and currently a director of Aberfoyle Award Fund, QueRiver Mining, Mackintosh Mining and Hellyer Metals. Mr Lindqvist has been appointed as a non-executive Director. He is a highlyrespected geologist who has held senior management roles at Newcrest andHomestake Mining Company (now Barrick). Currently an independent consultinggeologist, he is a former director of Gallant Minerals and is currently directorof Plutonic Power Corporation, Solomon Resources and Mill River Mining. Currently he has no interest in share options in the company. Tony Shearer, Chairman, commented "I am very pleased that David Fowler and Bill Lindquist are joining us and verygrateful to Roger Morton and Mike Schwabe for stepping down to allow the Boardto re-structure itself. I thank them for all they have done in developing thisexceptional company." No further disclosures are required in relation to Messrs Fowler and Lindqvistunder Schedule 2 paragraph (g) of the AIM rules. ENDS Editors note: Uruguay Mineral Exploration Inc., which joined AIM in December2004, is a gold producer and exploration company focussed on identifying anddeveloping mineral opportunities in Uruguay. UME is a fully integrated miningcompany, possessing the skills necessary to explore and develop its discoveries.The Company operates the only producing gold mine in the country (San Gregorio),and is also the leading mineral exploration company in Uruguay having assembledan exploration portfolio based on gold, base metals (copper, nickel, lead, zinc)and diamond prospects. In the first half of 2003, the Company discovered theArenal deposit, currently the largest known gold resource in Uruguay. It isquoted in Canada (TSXV) and London (AIM) and Panmure Gordon & Co is thenominated adviser. For further information, please contact Uruguay Mineral Exploration IncTony Shearer, Chairman + 44 20 7523 5914; tony@tonyshearer.comChris Clark, President +59 82 601 6354; urumin@adinet.com.uyPJ Lewis + 44 7950 003 138; pjlewis@tiscali.co.uk Panmure Gordon & CoMathew Robinson +44 207 459 3600Jonathan Retter +44 207 459 3600 This information is provided by RNS The company news service from the London Stock Exchange