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Uruguay Mineral Exp (UGY)

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Friday 12 September, 2008

Uruguay Mineral Exp

Q1 Production Update

RNS Number : 3547D
Uruguay Mineral Exploration Inc
12 September 2008
 



September 12, 2008                                                                             SYMBOLS: UME (TSXV), UGY (AIM)


Uruguay Mineral Exploration, Inc.


Gold Production for the First Quarter of Fiscal 2009 ended August 31, 2008 


Production

Uruguay Mineral Exploration Inc ('UME') announces that it has produced 16,439 ounces of gold for the first quarter of fiscal 2009 ended August 31, 2008. Ore processed for the quarter was 335,832 tonnes at an average gold grade of 1.67 g/t with recovery of 91.4%.


Gold production for the quarter was slightly down from the target of 17,000 ounces due to the delayed permitting of the Polvorín pit. Polvorín is now permitted and in operation. The Company remains on track to achieve its production target for the 2009 fiscal year of 80,000 ounces of gold. 



ENDS


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 focused 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 Uruguay (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.


Uruguay Mineral Exploration Inc. is quoted in Canada (TSXV) and London (AIM) and RBC Capital Markets is its Nominated Adviser and Broker.

    

For further information, please contact: 

    

Uruguay Mineral Exploration Inc

Tony Shearer, Chairman: +44 20 7602-1570; tonyshearer@btinternet.com

David Fowler, CEO: 598 2 6016354; urumin@ume.com.uy


Investor Relations 

Susan Borinelli, Breakstone Group: +1 646-330-5907sborinelli@breakstone-group.com


RBC Capital Markets

Sarah Wharry: +44 (0) 20 7653 4667sarah.wharry@rbccm.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
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