Uruguay Mineral Exploration Grants Stock Options

LONDON, February 12 /CNW/ - Uruguay Mineral Exploration Inc. (the "Company") announces that on 9 February 2007 it has granted an aggregate of 115,000 stock options exercisable at a price of CDN $ 3.90 per ordinary share on or before 8 February 2012 to employees and a long term consultant. An amount equivalent to 105,000 options vest in three equal parts on 8 February 2008, 8 February 2009 and 8 February 2010, while the balance, equivalent to 10,000 options, vest in two equal parts on 8 February 2008 and 8 February 2009.

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 focussed 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 the country (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. In the first half of 2003, the Company discovered the Arenal deposit, currently the largest known gold resource in Uruguay.

Uruguay Mineral Exploration Inc. is quoted in Canada (TSXV) and London (AIM) and Collins Stewart Europe Limited is its Nominated Adviser and Broker.