Uruguay Mineral Exploration clarifies typographical errors

Thu Aug 14, 12:04 PM

MONTEVIDEO, Uruguay--(BUSINESS WIRE)--Uruguay Mineral Exploration Inc. (“UME” or the “Company”) (TSX VENTURE: UME.V) (LSE: UGY.L), a South American gold production and exploration company, yesterday released two press releases regarding the year end results for fiscal year 2008 which contain typographical errors which the Company considers should be clarified.

In the Press Release titled Uruguay Mineral Exploration Announces Results for Fiscal Year 2008, the correct basic earnings per share of the Company is $US 0.16 instead of $US 0.22 as stated on page 2 and the amount invested in exploration should read $US 9.96 instead of $US 9.6 as stated on page 4.

Also, in the Press Release titled Chairman’s and CEO’s Reports from Annual Report and Accounts 2007/08 the net profit after tax for the financial year to May 31, 2008 is $US 7.8 million and not $US 78 million as stated on page 4. Additionally, the amount invested in exploration should read $US 9.96 instead of $US 9.6 as stated on page 4.

The original Annual Report, Financial Statements and MD&A filed with Sedar and released on the company’s website are correct.

ENDS

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

About Uruguay Mineral Exploration Inc.

Uruguay Mineral Exploration Inc. (UME) is a gold production and exploration company that identifies and develops mineral opportunities in South America. UME is a fully integrated mining company, possessing the skills necessary to explore and develop its discoveries. UME operates San Gregorio, the only producing gold mine in Uruguay, and is the leading mineral exploration company in Uruguay with an exploration portfolio of gold, diamonds and base metal prospects, including copper, nickel, lead, and zinc.

Uruguay Mineral Exploration Inc. is quoted in Canada (TSXV) and London (AIM) and RBC Capital Markets is its Nominated Adviser and Broker. More information can be found at www.uruguayminerals.com

Uruguay Mineral Exploration Inc
Tony Shearer, Chairman: +44 (0)20 7602 1570
tonyshearer@btinternet.com
or
David Fowler, CEO: + 598 2 6016354
urumin@ume.com.uy
or
Investor/Media Relations
Emily Bruning, Shared Value Ltd: +44 (0) 20 7321 5027
ebruning@sharedvalue.net
or
Investor Relations in North America
Susan Borinelli, Breakstone Group: +1 646-330-5907
sborinelli@breakstone-group.com
or
RBC Capital Markets
Andrew Smith: +44 (0) 20 7029 7882
andrew.smith@rbccm.com
or
Sarah Wharry: +44 (0)20 7653 4667
sarah.wharry@rbccm.com