Last checked at 25 Feb 2009 07:00
SYMBOLS: UME (TSXV), UGY (AIM)
Uruguay Mineral Exploration Inc. announces initiation of discussions for potential dealing
Uruguay Mineral Exploration Inc ("UME" or "the Company"), a gold production and exploration company, announced today that it is currently in discussions with another party which may or may not lead to an offer for UME's entire issued and to be issued share capital.
The discussions are at an early stage and, consequently, there is no certainty as to the terms and structure of any such transaction nor that an agreement will be reached between the Company and the other party.
UME is not covered by the Takeover Code (UK). Any Offer would be governed by the regulations of Yukon Territory, Canada.
Any further announcement will be made as appropriate.
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.comDavid 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 Sarah Wharry: +44 (0)20 7653 4667; sarah.wharry@rbccm.com
Copyright Business Wire 2009