24th Jan 2008 16:14
January 24, 2008 SYMBOLS: UME (TSXV), UGY (AIM) UME purchases its own shares Uruguay Mineral Exploration Inc ("the Company") announces that on 22 January,2008 and 23 January 2008 CIBC World Markets plc purchased on behalf of theCompany 13,000 and 37,000 UME common shares ("Common Shares") respectively at aprice of C$ 3.46 per share. These shares were immediately cancelled. Aftercancellation, the number of issued and outstanding Common Shares of the Companyis 48,876,268. This purchase has been made following the announcement on 11 December, 2007 thatthe Company would spend not more than C$ 2 million to buy-back its own sharesand, in compliance with TSX-V requirements, would purchase no more than2,446,313 Common Shares, equal to 5% of the total issued and outstanding CommonShares of the Company as at that date. The cumulative total number of CommonShares purchased under this mandate is 50,000 at an aggregate cost of C$173,000. ENDS The TSX Venture Exchange has not reviewed and does not accept responsibility forthe adequacy or accuracy of this news release. Editors' note: Uruguay Mineral Exploration Inc. is a gold producer andexploration company focused on identifying and developing mineral opportunitiesin Uruguay. UME is a fully integrated mining company, possessing the skillsnecessary to explore and develop its discoveries. The Company operates the onlyproducing gold mine in Uruguay (San Gregorio), and is also the leading mineralexploration company in Uruguay having assembled an exploration portfolio basedon gold, base metals (copper, nickel, lead, zinc) and diamond prospects. Uruguay Mineral Exploration Inc. is quoted in Canada (TSXV) and London (AIM) andRBC Capital Markets is its Nominated Adviser and Broker. For further information, please contact: \* TUruguay Mineral Exploration IncTony Shearer, Chairman: +44 20 7602-1570; [email protected] Fowler, CEO: 598 2 6016354; [email protected] Investor/Media RelationsEmily Bruning, Shared Value Ltd: +44 (0) 20 7321 5027; [email protected] RBC Capital MarketsAndrew Smith: +44 (0) 20 7029 7882; [email protected] Wharry: +44 (0)20 7653 4667; [email protected]\* T Copyright Business Wire 2008Related Shares:
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