Orosur Mining Regulatory News (OMI)

31 Jan 2008 12:15

January 31, 2008 SYMBOLS: UME (TSXV), UGY (AIM) Statement re. Shares in Issue Uruguay Mineral Exploration ('UME' / 'the Company') today announces thatapplication has been made for the admission of 2,875,755 common shares totrading on AIM relating to the exercise of employee share options and warrantssince 2005. The admission is expected to be effective on February 5, 2008. In previous communications to the market UME has correctly stated the number ofshares outstanding, as the published number of shares in issue included these2,875,755 new shares. The previously published total number of UME common sharesoutstanding of 48,876,268 is correct. Tony Shearer, Chairman of UME commented: "Through an oversight, for which weapologise, we have not formally applied to the AIM market for the admission totrading of shares that have been issued over the last few years. We have alwaysstated correctly the number of shares in issue, and the number mentioned indocuments such as the annual report, press releases and quarterly reports hasalways been correct, as has the number of shares in issue reported by agenciessuch as Bloomberg and Reuters." The TSX Venture Exchange has not reviewed and does not accept responsibility forthe adequacy or accuracy of this news release. Editors' note: Uruguay Mineral Exploration Inc. is a gold producer andexploration company focused on identifying and developing mineral opportunitiesin Uruguay. UME is a fully integrated mining company, possessing the skillsnecessary to explore and develop its discoveries. The Company operates the onlyproducing gold mine in Uruguay (San Gregorio), and is also the leading mineralexploration company in Uruguay having assembled an exploration portfolio basedon gold, base metals (copper, nickel, lead, zinc) and diamond prospects. Uruguay Mineral Exploration Inc. is quoted in Canada (TSXV) and London (AIM) andRBC 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/Media Relations Emily Bruning, Shared Value Ltd: +44 (0) 20 7321 5027; ebruning@sharedvalue.net 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