Last checked at 21 Oct 2008 10:17
October 21, 2008 SYMBOLS: UME (TSXV), UGY (AIM)
Director's Dealing
Uruguay Mineral Exploration Inc ("UME" or "the Company"), a gold production and exploration company, was informed on 20 October 2008 that the Company's Non Executive Director, William Lindqvist purchased 20,000 shares in the Company ("Common Shares") at C$0.60 on October 16, 2008, and that the Company's Chief Executive Officer, David Fowler, purchased 27,000 Common Shares at C$0.60 on October 17, 2008.
Following their purchases, Mr. Lindqvist has an interest in 30,000 Common Shares representing 0.06% of the Company's issued share capital and Mr. Fowler has an interest in 32,500 Common Shares representing 0.06% of the Company's issued share capital.
They also hold the following amount of options to purchase the same amount of Common Shares:
| Name | Stock Options | Exercise Price C$ | Expiry Date |
| David Fowler | 200,000 | 4.00 | 28-Apr.-2009 |
| | 50,000 | 4.50 | 15-Sep.-2010 |
| | 200,000 | 3.90 | 13-Oct.-2011 |
| | 200,000 | 3.30 | 14-Nov.-2012 |
| | 75,000 | 0.60 | 15-Oct.-2013 |
| William Lindqvist | 50,0000 25,000 | 4.62 0.60 | 7-Dec- 2010 15-Oct.-2013 |
ENDS
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Editors' note: Uruguay Mineral Exploration Inc. is a gold producer and exploration company focused on identifying and developing mineral opportunities in Uruguay. UME is a fully integrated mining company, possessing the skills necessary to explore and develop its discoveries. The Company operates the only producing gold mine in Uruguay (San Gregorio), and is also the leading mineral exploration company in Uruguay having assembled an exploration portfolio based on gold, base metals (copper, nickel, lead, zinc) and diamond prospects.
Uruguay Mineral Exploration Inc. is quoted in Canada (TSXV) and London (AIM) and RBC Capital Markets is its Nominated Adviser and Broker.
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 in North America
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