Uruguay Mineral Exploration Inc: Director's Shareholding

MONTEVIDEO, Uruguay--(BUSINESS WIRE)--Uruguay Mineral Exploration Inc (“the Company”)(TSX VENTURE: UME) (LSE: UGY.L) was informed on 19 August 2008 that the Company’s Chairman, Tony Shearer, purchased 20,000 shares at C$1.50 on 19 August 2008. Following his purchase Mr. Shearer has an interest in 563,834 Common Shares representing 1.16% of the Company's issued share capital and 50,000 options to purchase 50,000 Common Shares at an exercise price of C$ 4.50 expiring on 15 September, 2010.

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

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 Uruguay (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.

Uruguay Mineral Exploration Inc. is quoted in Canada (TSXV) and London (AIM) and RBC Capital Markets is its Nominated Adviser and Broker.

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