SOURCE: Uruguay Mineral Exploration Inc.

April 15, 2005 06:33 ET

Holding in Company

Notification of Major Interest in Shares

CALGARY, AB -- (MARKET WIRE) -- April 15, 2005 -- Uruguay Mineral Exploration Inc. (the 'Company') (TSX-V: UME) (AIM: UGY) has been informed of the following interests in the Company's share capital.

Saad Investments Company Limited currently holds 3,441,400 shares in the Company, representing 7.98% of the Company's current issued share capital.

ENDS

Editors Notes:

The Company announced third quarter results on 14 April, details of which can be found from www.uruguayminerals.com or at http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00004014

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 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. It is quoted in Canada (TSXV) and London (AIM) and Durlacher Limited is the nominated adviser.

Contact Information

  • For further information contact:

    Uruguay Mineral Exploration Inc
    Tony Shearer
    Chairman
    + 44 20 7523 5914
    tony@tonyshearer.com

    Chris Clark
    President
    +59 82 601 6354
    urumin@adinet.com.uy

    PJ Lewis
    + 44 7950 003 138
    pjlewis@tiscali.co.uk

    Durlacher Limited
    Mathew Robinson
    +44 207 459 3600

    Jonathan Retter
    +44 207 459 3600