Uruguay Mineral Exploration Grants Stock Options

12 Feb 2007 17:58

Uruguay Mineral Exploration Inc. (the "Company") announces that on9 February 2007 it has granted an aggregate of 115,000 stock optionsexercisable at a price of CDN $ 3.90 per ordinary share on or before 8February 2012 to employees and a long term consultant. An amountequivalent to 105,000 options vest in three equal parts on 8 February2008, 8 February 2009 and 8 February 2010, while the balance,equivalent to 10,000 options, vest in two equal parts on 8 February2008 and 8 February 2009. £ The TSX Venture Exchange has not reviewed and does not acceptresponsibility for the adequacy or accuracy of this news release. £ Editors note: Uruguay Mineral Exploration Inc. is a gold producerand exploration company focussed on identifying and developing mineralopportunities in Uruguay. UME is a fully integrated mining company,possessing the skills necessary to explore and develop itsdiscoveries. The Company operates the only producing gold mine in thecountry (San Gregorio), and is also the leading mineral explorationcompany in Uruguay having assembled an exploration portfolio based ongold, base metals (copper, nickel, lead, zinc) and diamond prospects.In the first half of 2003, the Company discovered the Arenal deposit,currently the largest known gold resource in Uruguay. £ Uruguay Mineral Exploration Inc. is quoted in Canada (TSXV) andLondon (AIM) and Collins Stewart Europe Limited is its NominatedAdviser and Broker. Copyright Business Wire 2007