URUGUAY MINERAL EXPLORATION INC.
June 30, 2006 SYMBOLS: UME (TSXV), UGY (AIM)
Production for 2006 Financial Year exceeds 100,000 ounce target
Uruguay Minerals Exploration Inc ("UME") confirms that it has produced 101,287 ounces of gold for the
financial year to May 31 2006. Ore processed for the year was 1,266,528 tonnes at a grade of 2.65 g/t
at a 93.7% recovery.
The company forecasts full year production for 2006-07 of 100,000 ounces of gold. The latest mine
plan, considering the impacts of the pit wall slip at Arenal, announced on 28th February, has
concluded that the company has reduced flexibility in the next 12 months to blend mine production to
achieve a constant grade. As a result, production for the first quarter of 2006-07 (ending August 31st
2006) is expected to be 21,000 ounces of gold.
UME Chairman, Tony Shearer, commented: "As committed, the company has achieved its stated objective of
producing at a rate of 100,000 ounces per annum. Whilst a reduction in output will occur in the first
quarter, the company expects to maintain its target rate of 100,000 ounces per year for the full
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of this news release.
Editors note: Uruguay Mineral Exploration Inc. is a gold producer and exploration company focussed on
identifying and developing mineral opportunities in Uruguay. UME is a fully integrated mining
company, possessing the skills necessary to explore and develop its discoveries. The Company operates
the only producing gold mine in the country (San Gregorio), and is also the leading mineral
exploration company in Uruguay having assembled an exploration portfolio based on gold, 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) and London (AIM) and Collins Stewart
Limited is the Nominated Adviser and broker.
For further information, please contact
Uruguay Mineral Exploration Inc
Tony Shearer, Chairman +44 20 7460 8935; email@example.com
David Fowler, CEO +59 82 601 6354; firstname.lastname@example.org
Shared Value Ltd
Emily Bruning +44 20 7321 5027; email@example.com
Collins Stewart Ltd
Chris Rollason +44 20 7523 8308; firstname.lastname@example.org
Uruguay Mineral Exploration Inc.