Last checked at 12 Sep 2008 14:43
September 12, 2008 SYMBOLS: UME (TSXV), UGY (AIM)
Uruguay Mineral Exploration, Inc.
Gold Production for the First Quarter of Fiscal 2009 ended August 31, 2008
Production
Uruguay Mineral Exploration Inc ("UME") announces that it has produced 16,439 ounces of gold for the first quarter of fiscal 2009 ended August 31, 2008. Ore processed for the quarter was 335,832 tonnes at an average gold grade of 1.67 g/t with recovery of 91.4%.
Gold production for the quarter was slightly down from the target of 17,000 ounces due to the delayed permitting of the Polvorín pit. Polvorín is now permitted and in operation. The Company remains on track to achieve its production target for the 2009 fiscal year of 80,000 ounces of gold.
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 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
Sarah Wharry: +44 (0) 20 7653 4667; sarah.wharry@rbccm.com