Uruguay Mineral Exploration Inc.

Uruguay Mineral Exploration Inc.

August 09, 2006 08:00 ET

Uruguay Mineral Exploration grants Stock Options

LONDON, UNITED KINGDOM--(CCNMatthews - Aug. 9, 2006) - Uruguay Mineral Exploration Inc. ("UME") (TSX VENTURE:UME) (AIM:UGY) announces that it has granted an aggregate of 20,000 stock options exercisable at a price of CDN $4.10 per ordinary share on or before August 2, 2011. These options were granted on August 2, 2006 and vest in immediately.


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 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.

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

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