Business
Uruguay Mineral Exploration Inc: Operations Update
Uruguay Mineral Exploration Inc: Operations Update.
About this update from Orosur Mining Inc.
[{"type":"text","content":"\n\n\n\n-- River diversion completed to original specification and timetable.\n\n\n-- Higher grade ore now being mined.\n\n\n-- Production for the first quarter to August 31 2007 estimated at\n21,000 ounces, with production for the full year expected to be 95,000 ounces.\n\n\nLONDON, August 2 /CNW/ - Uruguay Mineral Exploration Inc (TSX\nVENTURE:UME) (LSE:UGY):\n\n\nThe Diversion of the Arroyo Corrales was completed in July. The diversion\ncanal has been completed to the original specification and water is flowing as\nanticipated. The permanent northern flood protection dyke is 60% complete and\nalready affording adequate protection against moderate flood conditions and it\nwill be completed by 17 August, 2007. Construction of the southern flood\nprotection dyke has commenced and is expected to be completed by the end of\nAugust. Temporary dykes have allowed the old water course to be dewatered and\npit development to commence. Re-vegetation of the banks of the diversion canal\nhas commenced and is progressing as planned. The first ore from the expansion\nhas been mined and processed.\n\n\nLower grade material was mined in June and July while the river diversion\nwas being completed. As a result, production for the first quarter 2007/8 is\nforecast to be 21,000 ounces. Production will recover in the following quarter\nin line with higher grades and is expected to be 95,000 ounces for the year to\n31 May, 2008.\n\n\nQualified Person's Statement\n\n\nThe information presented in this press release has been reviewed and\nverified by Mr John Sadek, Vice President Operations. Mr Sadek is the\nQualified Person for the purposes of the AIM Guidance Note on Mining, Oil and\nGas Companies dated March 2006. He has a Bachelor of Engineering (Mining) from\nthe University of Sydney and is a member of the AusIMM and SME. He has over 20\nyears of international experience in mining.\n\n\nForward Looking Statements\n\n\nAll statements, other than statements of historical fact, contained or\nincorporated by reference in this news release, including any information as\nto the future financial or operating performance of the Company, constitute\n"forward-looking statements" within the meaning of certain securities laws,\nincluding the "safe harbour" provisions of the Securities Act (Ontario) and\nthe United States Private Securit...