Statement re Interests in Shares of the Company

15 Jun 2007 10:31

URUGUAY MINERAL EXPLORATION INC. ("the Company") NOTIFICATION CONCERNING INTERESTS IN SHARES OF THE COMPANY Saad Investments Company Limited has notified Uruguay Mineral Exploration Inc.(the "Company") that it holds, in aggregate, 4,904,000 shares, equivalent to10.09% of the Company's outstanding shares. This represents an increase of1,462,600 shares since its last notification on 15 April 2005. Additionally, the Company has been notified by AXA S.A. and its Group ofCompanies of its holding of 6,403,200 shares in aggregate, equivalent to 13.18%of the Company's outstanding shares. The current issued share capital figure for the Company is 48,581,935 as atclose of business 14 June 2007. 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) andCollins Stewart Europe Limited is its Nominated Adviser and Broker. For further information, please contact Uruguay Mineral Exploration Inc Tony Shearer, Chairman: +44 20 7602-1570; tonyshearer@btinternet.comDavid Fowler, CEO: 598 2 6016354; urumin@ume.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 Copyright Business Wire 2007