Transaction In Own Shares

18 Feb 2008 07:00

February 18, 2008 SYMBOLS: UME (TSXV), UGY (AIM) UME Purchases Its Own Shares Uruguay Mineral Exploration Inc ("the Company")(TSX VENTURE:UME)(LSE:UGY)announces that on 14 February, 2008 CIBC World Markets plc purchased on itsbehalf 30,400 of its common shares ("Common Shares") at a price of C$ 3.21 pershare; these shares will immediately be cancelled. After such cancellation, thenumber of issued and outstanding Common Shares of the Company will be48,848,868. This purchase has been made following the announcement made on 11 December, 2007that the Company would spend not more than C$ 2 million to buy-back its ownshares and, in compliance with the TSX-V requirements, would purchase no morethan 2,446,313 Common Shares, which is equal to 5% of the total issued andoutstanding Common Shares of the Company as of such date. The cumulative total number of Common Shares purchased under this mandate is80,400 at an aggregate cost of C$ 260,204. 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: \* TUruguay 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\* T Copyright Business Wire 2008