Statement re Production Update

9 Jun 2008 14:58

Uruguay Mineral Exploration Inc SYMBOLS: UME (TSXV), UGY (AIM) Gold Production for 2008 Financial Year Production Uruguay Mineral Exploration Inc ("UME") announces that it has produced 90,668ounces of gold for the fiscal year ended May 31, 2008. Ore processed for theyear was 1,244,341 tonnes at a gold grade of 2.45 g/t with recovery averaging92.3%. In comparison to the original target of 95,000 ounces for the year lowerproduction resulted from industrial action and encountering lower grade ore thanexpected in the Arenal pit in April and May 2008. A full update on exploration projects including drilling at Presidente Terra,Lascano and near mine will be provided in the company's quarterly explorationreport to be published by mid July 2008. ENDS 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 IncTony Shearer, Chairman: +44 (0) 20 7602 1570; tonyshearer@btinternet.comDavid Fowler, CEO: + 598 2 6016354; urumin@ume.com.uy Investor/Media RelationsEmily Bruning, Shared Value Ltd: +44 (0) 20 7321 5027; ebruning@sharedvalue.net RBC Capital MarketsAndrew Smith: +44 (0) 20 7029 7882; andrew.smith@rbccm.com Copyright Business Wire 2008