Uruguay Mineral Exploration Inc.: Gold Production for 2008 Financial Year
Posted on: Monday, 9 June 2008, 12:00 CDT
Production
Uruguay Mineral Exploration Inc ("UME") (TSX VENTURE:UME)(LSE:UGY) announces that it has produced 90,668 ounces of gold for the fiscal year ended May 31, 2008. Ore processed for the year was 1,244,341 tonnes at a gold grade of 2.45 g/t with recovery averaging 92.3%.
In comparison to the original target of 95,000 ounces for the year lower production resulted from industrial action and encountering lower grade ore than expected in the Arenal pit in April and May 2008.
A full update on exploration projects including drilling at Presidente Terra, Lascano and near mine will be provided in the company's quarterly exploration report to be published by mid July 2008.
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.
Source: Business Wire
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