URUGUAY MINERAL EXPLORATION INC.

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Type: Public
Classification: Monitor

Stock Quote: TSX-V:UME, LSE-AIM:UGY

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PUNTAS DE SANTIAGO 1604
MONTEVIDEO
Uruguay, 11500
Phone: +011(5982) 601-6354
Fax: +011(5982) 600-6232

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Company Summary

Uruguay Mineral Exploration Inc. 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.

Company News

Tuesday, October 13, 2009

Property: SAN GREGORIO - UME

Uruguay Mineral Exploration Inc. (UME) announces gold production from San Gregorio Mine in Uruguay for the first fiscal quarter was 13,173 ounces. Production was 2.3% below the bottom end of guidance on production for the quarter of 13,500 ounces due to minor changes in the extraction sequence. Ore processed for the quarter was 384,194 tones at a grade of 1.15 g/t with recovery averaging 92.9%. Lower production for the quarter, compared to the budget of 60,000 ounces for the 2010 fiscal year, reflects a mine plan with higher levels of waste and low grade ore in the first quarter. With higher grade ore to come in the remaining quarters UME confirms its production forecast for the 2010 fiscal year of 60,000 ounces. On October 5, 2009 Uruguay Mineral Exploration Inc. announced a proposed business combination with Fortune Valley Resources.

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