Uruguay Mineral Exploration Inc.
TSX VENTURE : UME
AIM : UGY

Uruguay Mineral Exploration Inc.

May 26, 2006 13:05 ET

Uruguay Mineral Exploration Inc.: Sale of Director's Shares

LONDON, UNITED KINGDOM--(CCNMatthews - May 26, 2006) - Uruguay Mineral Exploration Inc. (TSX VENTURE:UME)(AIM:UGY) -

The Company has been notified that Chris Clark, who retired as CEO on 15 May 2006, disposed of 166,667 common shares on 2 May 2006 at a price of CDN$5.15 per share.

Mr Clark's remaining holding following this transaction is 1,412,083 common shares, representing 3% per cent. of the issued share capital. Mr Clark holds a further 333,333 options at an exercise price of $C1.50 per share and 140,000 options at an exercise price of $C4.50.

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.

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

Contact Information

  • Uruguay Mineral Exploration Inc.
    Tony Shearer
    Chairman
    44 20 7460 8935
    tony@tonyshearer.com
    or
    Uruguay Mineral Exploration Inc.
    Chris Clark
    President
    598 2 601 6354
    urumin@adinet.com.uy
    or
    Uruguay Mineral Exploration Inc.
    David Fowler
    CEO
    598 2 601 6354
    urumin@adinet.com.uy
    or
    Shared Value
    Emily Bruning
    +44 20 7321 5027
    ebruning@sharedvalue.net
    or
    Collins Stewart Ltd
    Andrew Smith
    + 44 20 7523 8351
    or
    Collins Stewart Ltd
    Martin Eales
    + 44 20 7523 8351