Transaction in Own Shares

13 May 2008 08:29

UME purchases more of its own shares Uruguay Mineral Exploration Inc ("the Company") announces that on 9 May, 2008CIBC World Markets plc has purchased on its behalf a further 1,000 of its commonshares ("Common Shares") at a price of C$ 2.80 per share; these shares will beimmediately cancelled. After such cancellation, the number of issued andoutstanding Common Shares of the Company will be 48,842,068. This purchase has been made following the announcement made on 11 December, 2007regarding the share buy-back programme. The cumulative total number of Common Shares purchased since then is 99,200 atan aggregate cost of C$ 320,136. 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 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.comSarah Wharry: +44 (0)20 7653 4667; sarah.wharry@rbccm.com Copyright Business Wire 2008