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Last checked at 
3 Dec 2008 18:35
STOCK OPTIONS GRANTED
Uruguay Mineral Exploration Inc ("UME" or the "Company"), a gold production and exploration company, announced today that Ignacio Salazar, Chief Financial Officer of the Company, was granted 40,000 stock options on 2 December 2008, exercisable at a price of CDN$ 0.60 per Common Share on or before 2 December, 2013.
These options form part of Mr Salazar's agreed compensation package negotiated when he joined the Company.
Following this grant Ignacio Salazar holds a total amount of 150,000 stock options exercisable at a price of CDN$ 0.60.
ENDS
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
About Uruguay Mineral Exploration Inc.
Uruguay Mineral Exploration Inc. (UME) is a gold production and exploration company that identifies and develops mineral opportunities in South America. UME is a fully integrated mining company, possessing the skills necessary to explore and develop its discoveries. UME operates San Gregorio, the only producing gold mine in Uruguay, and is the leading mineral exploration company in Uruguay with an exploration portfolio of gold, diamonds and base metal prospects, including copper, nickel, lead, and zinc.
Uruguay Mineral Exploration Inc. is quoted in Canada (TSXV) and London (AIM) and RBC Capital Markets is its Nominated Adviser and Broker. More information can be found at www.uruguayminerals.com
| For further information, please contact: |
| Uruguay Mineral Exploration Inc |
| Tony Shearer, Chairman: +44 (0)20 7602 1570; tonyshearer@btinternet.com |
| David Fowler, CEO: + 598 2 6016354; urumin@ume.com.uy |
| Investor Relations |
| Susan Borinelli, Breakstone Group: +1 646-330-5907; sborinelli@breakstone-group.com |
| RBC Capital Markets |
| Andrew Smith: +44 (0) 20 7029 7882; andrew.smith@rbccm.com |
| Sarah Wharry: +44 (0)20 7653 4667; sarah.wharry@rbccm.com |
Copyright Business Wire 2008
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