LONDON, UNITED KINGDOM--(CCNMatthews - Dec. 07, 2005) - Uruguay Mineral Exploration (UME) (TSX VENTURE:UME)(AIM:UGY) announces that it has granted an aggregate of 68,000 stock options exercisable at a price of CDN $4.62 per ordinary share on or before December 6, 2010. These options were granted on December 6, 2005 and vest in three equal parts on the December 6 2006, December 6 2007 and December 6 2008.
Mr William Lindqvist, a Director of the Company was granted 50,000 options. The remaining options were issued to qualifying employees.
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. It is quoted in Canada (TSXV) and London (AIM) and Collins Stewart is the nominated adviser and broker.
FOR FURTHER INFORMATION PLEASE CONTACT:
Uruguay Mineral Exploration Inc.
Tony Shearer
Chairman
+ 44 20 7460 8935
tony@tonyshearer.com
Uruguay Mineral Exploration Inc.
Chris Clark
President
+59 82 601 6354
urumin@adinet.com.uy
Uruguay Mineral Exploration Inc.
PJ Lewis
+ 44 7950 003 138
pjlewis@tiscali.co.uk
Collins Stewart Ltd
Andrew Smith
+44 20 7523 8351
Collins Stewart Ltd
Martin Eales
+44 20 7523 8351
