Orosur Mining Regulatory News (OMI)

12 Feb 2007 17:58

URUGUAY MINERAL EXPLORATION INC. Uruguay Mineral Exploration grants Stock Options Uruguay Mineral Exploration Inc. (the "Company") announces that on 9 February2007 it has granted an aggregate of 115,000 stock options exercisable at a priceof CDN $ 3.90 per ordinary share on or before 8 February 2012 to employees and along term consultant. An amount equivalent to 105,000 options vest in threeequal parts on 8 February 2008, 8 February 2009 and 8 February 2010, while thebalance, equivalent to 10,000 options, vest in two equal parts on 8 February2008 and 8 February 2009. 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 focussed 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 the country (San Gregorio), and is also the leadingmineral exploration company in Uruguay having assembled an exploration portfoliobased on gold, base metals (copper, nickel, lead, zinc) and diamond prospects.In the first half of 2003, the Company discovered the Arenal deposit, currentlythe largest known gold resource in Uruguay. Uruguay Mineral Exploration Inc. is quoted in Canada (TSXV) and London (AIM) andCollins Stewart Europe Limited is its Nominated Adviser and Broker. \* TFor further information, please contact Uruguay Mineral Exploration IncTony Shearer, Chairman 44 20 7221-9983; tonyshearer@btinternet.comDavid Fowler, CEO 598 2 6016354 urumin@adinet.com.uy Shared Value LtdEmily Bruning +44 20 7321 5027; ebruning@sharedvalue.net Collins Stewart Europe LimitedChris Rollason +44 20 7523 8308; crollason@collins-stewart.com\* T Copyright Business Wire 2007