Director/PDMR Shareholding

15 Dec 2008 15:07

Director's Dealing

Uruguay Mineral Exploration Inc ("UME" or "the Company"), a gold production and exploration company, announced today that it was informed that on December 12, 2008 the Company's Director and Chief Financial Officer, Ignacio Salazar purchased a total of 30,000 shares in the Company ("Common Shares"), 17,500 at a price of C$ 0.255 per share and 12,500 at a price of C$ 0.24 per share.

Following his purchase, Mr. Salazar has an interest in 30,000 Common Shares representing 0.06% of the Company's issued share capital. He also holds 150,000 options to purchase Common Shares at an exercise price of C$ 0.60 each.

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 IncTony Shearer, Chairman: +44 (0)20 7602 1570; tonyshearer@btinternet.comDavid Fowler, CEO: + 598 2 6016354; urumin@ume.com.uy

Investor Relations in North AmericaSusan Borinelli, Breakstone Group: +1 646-330-5907; sborinelli@breakstone-group.com

RBC Capital MarketsAndrew Smith: +44 (0) 20 7029 7882; andrew.smith@rbccm.comSarah Wharry: +44 (0)20 7653 4667; sarah.wharry@rbccm.com

Copyright Business Wire 2008