Statement re Production Update

10 Mar 2008 08:46

March 10, 2007 SYMBOLS: UME (TSXV), UGY (AIM) 25,150 ounces produced for third quarter of 2007/08 Production Uruguay Mineral Exploration Inc ("UME") confirms that it has produced 25,150ounces of gold for the third quarter ended April 29, 2008, making a total of69,931 ounces for the nine months of the year to the end of February 2008. Thecompany reiterates its production target of 95,000 ounces for the 2008 financialyear. A full review of the activities including production and exploration will beincluded with the third quarter results which are expected to be announced on 9April, 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. \* TFor further information, please contact: Uruguay Mineral Exploration IncTony Shearer, Chairman: +44 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\* T Copyright Business Wire 2008