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Uruguay Mineral Exp (UGY)

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Wednesday 15 October, 2008

Uruguay Mineral Exp

Grant of Share Options

RNS Number : 9610F
Uruguay Mineral Exploration Inc
15 October 2008

October 15, 2008                                                                             SYMBOLS: UME (TSXV), UGY (AIM)


Uruguay Mineral Exploration Inc ('UME' or the 'Company'), a gold production and exploration company, announced today thatin accordance with the company's stated policy, it has granted an aggregate of 912,750 stock options to Directors, Officers and employees, vesting within a two year period, exercisable at a price of CDN$ 0.60 per Common Share with 5 year expiry.

UME employees were granted a total of 477,750 stock options. The balance equivalent to 435,000 stock options was granted to the following Directors:

Tony Shearer
William Lindqvist
Roger Davey
Julio Porteiro
David Fowler
Ignacio Salazar
George Schroer
John Sadek


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

About Uruguay Mineral Exploration Inc. 

Uruguay Mineral Exploration Inc. (UME) is a gold production and exploration company that identifies and develops mineral opportunities in South AmericaUME is a fully integrated mining company, possessing the skills necessary to explore and develop its discoveries. UME operates San Gregorio, the only producing gold mine in Uruguay, and is the leading mineral exploration company in Uruguay with an exploration portfolio of gold, diamonds and base metal prospects, including copper, nickel, lead, and zinc. 

Uruguay Mineral Exploration Inc. is quoted in Canada (TSXV) and London (AIM) and RBC Capital Markets is its Nominated Adviser and Broker. More information can be found at 

For further information, please contact: 


Uruguay Mineral Exploration Inc

Tony Shearer, Chairman: +44 (0)20 7602 1570;

David Fowler, CEO: 598 2 6016354;

Investor Relations 

Susan Borinelli, Breakstone Group: +1 646-330-5907;

RBC Capital Markets

Andrew Smith: +44 (0) 20 7029 7882; 

Sarah Wharry: +44 (0)20 7653 4667;

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