Company Information for Uruguay Mineral Exploration Inc

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Company Statement

Uruguay Mineral Exploration Inc. (UME) is a gold production and exploration company incorporated in Canada that identifies and develops mineral opportunities in South America. UME operates San Gregorio, the only producing gold mine in Uruguay and has assembled an exploration portfolio of gold, diamonds and base metal prospects.

Current Operations

San Gregorio Gold Mine
The San Gregorio gold operation, located within the Isla Cristalina Belt, comprises a number of open pit mines and a processing plant. The mineralized system covers a 7 kilometre shear zone with three major deposits identified to date - Arenal, San Gregorio and Santa Teresa, which have collectivelly produced more than 800,000 ounces.

Potential underground deposits also exist as extensions to the San Gregorio and Arenal open pits. Ongoing exploration work takes place both within the mine areas and at several prospects in the Minas de Corrales goldfield.

Exploration
Uruguay has considerable potential for gold, nickel, copper and zinc in the Proterozoic Isla Cristalina, La Florida, Arroyo Grande, and Dom Feliciano Belts. The Rio de la Plata craton and adjacent Dom Feliciano Belt are considered to be prospective for diamonds.

The Company has established a significant exploration database during 10 years of operation in Uruguay. This database continues to generate new gold exploration opportunities which are funded by strong cash flow. UME's exploration program is supported by an experienced team of 30 geologists, and a fleet of five diamond/RC drill rigs which it owns.

Geographical Spread

UME operates throughout Uruguay.

Board of Directors and Key Management

Mr Tony Shearer	Non Executive Chairman
Mr David Fowler	CEO
Mr William Lindqvist	Non-Executive Director
Mr Julio Porteiro	Non-Executive Director
Mr John Morris	Non-Executive Director
Roger Davey	Non-Executive Director
Ignacio Salazar	Director - Chief Financial Officer
John Sadek	Vice President Operations
George Schroer	Vice President Exploration
Patricia Rodríguez	Company Secretary / Legal Counsel

Company Address Puntas de Santiago 1604 C.P. Montevideo, Uruguay 11500 Telephone: +5982 6016354 Facsimile: +5982 6006232 Email: urumin[at]ume.com.uy Website: http://www.uruguayminerals.com

Additional Address/Key Contact 360 Bay Street, Suite 500 Toronto, Ontario Canada M5H 2V6 Telephone: +1 416 361 0737 Facsimile: + 1 416 361 0923 Email: sdrake@mdcorp.ca

Capital Common Shares Outstanding - 48,667,068

Annual General Meeting November

Year End May 31

Nominated Advisors RBC Capital Markets Thames Court One Queenhithe London EC4V 4DE

Major Shareholders

Major Shareholders	Amount	% Holding
AXA and Affiliates	6,341,400	13.03%
SAAD Investment	4,904,000	10.08%
HSBC Global Custody Nominee (UK) Limited	4,434,075	9.11%
Henderson European Absolute	1,990,000	4.09%
Goldman Sachs International Limited	1,990,000	4.09%

Related News

27/08/08 - All Hands On Deck At Uruguay Minerals As The Quest To Find The Next Economic Orebody Continues
13/02/08 - Time For Uruguay Minerals To Come Up With Some Excitement
10/05/07 - Uruguay Minerals Quietly Getting On With the Job
20/09/06 - Uruguay Shuffles Management And Gets Involved In Serious Exploration

Most Recent Statement

15/12/08 - Director/PDMR Shareholding
05/12/08 - Production Update
04/12/08 - Director/PDMR Shareholding
23/10/08 - Uruguay Mineral Exp - Director/PDMR Shareholding
21/10/08 - Director/PDMR Shareholding
16/10/08 - Grant of Share Options