Exploration Drilling Close To San Gregorio Mine

MONTEVIDEO, URUGUAY  - Uruguay Mineral Exploration Inc. reported encouraging exploration drill results for Arenal Deep and Nueva Australia, near the San Gregorio mine, and for Presidente Terra in Southern Uruguay.
David Fowler, Chief Executive Officer, commented: "We continue to see encouraging results from the drill campaign near the mine and have drilled significant intercepts at both Arenal and Nueva Australia. At Arenal Deep, best results in hole ADDL090 of 19.25 m @ 4.68 g/t Au indicate that we are encountering widths and grades that have the potential to support an underground operation. We are currently drilling offsets to the intercepts in Arenal Deep to further assess the potential and this programme should be completed by November 2008. We also drilled three holes at Nueva Australia to test mineralization at depth. Best results, 4.65 m @ 8.57 g/t Au in hole NADD003, indicate that thicker and higher-grade mineralization exists and has the potential to host a significant gold resource. Three offset drill holes are planned to be completed to test the extent of mineralization by December.
"Our first pass drill program at Presidente Terra was a broad spaced program of 51 holes over 6.6 km focusing on gold bearing vein/shear sets in granitic host rocks. A further 2 km remains to be tested during the 2008 calendar year as part of the first pass program. Results of this initial program demonstrate that gold mineralisation is continuous. Follow up exploration during the rest of 2008 will use these results to target higher-grade areas and bulk targets," said Fowler.
Near the San Gregorio mine, the deep drill campaign continues to deliver significant intercepts from Arenal Deep and Nueva Australia.
At Arenal Deep, of the two additional core holes completed, significant intercepts have been reported from hole ALDD090.
The intercepts in this hole are the best reported to date from the deep drill program and represent consistent grades above 2.5 g/t. The intercept is located over 60 meters from the nearest intercept in hole ALDD089. Drilling continues in the area with results pending for an additional two holes with a third in progress. The drilling is designed to test for mineralization up plunge to the northwest.