Uruguay Mineral Exploration: Appointment of Finance Director / Chief Financial Officer and Nomination for Election of Directors - Exploration

Aug

Uruguay Mineral Exploration: Appointment of Finance Director / Chief Financial Officer and Nomination for Election of Directors

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Uruguay Mineral Exploration Inc. (”UME” or “the Company”)(TSX VENTURE:UME) (UK:UGY: news, chart, profile) , a gold production and exploration company, announced today that it has appointed Mr. Ignacio Salazar as Finance Director and Chief Financial Officer with effect from September 15, 2008. The Company also announced that its Board of Directors has approved the nomination of Ignacio Salazar, John Sadek and George Schroer for election as Directors of the Company at the Annual General Meeting to be held in London, on October 10, 2008.
UME Chairman, Tony Shearer, commented, “I am delighted to welcome Ignacio to the role of Finance Director and CFO of UME. Ignacio has very valuable experience from senior positions in South America and has also successfully performed a wide-range of roles within Shell. Director nominees, John and George are already very valuable members of David Fowler’s management team, and have made a great contribution to the development of the business over the last few years. We look forward to working together as we continue to pursue our goal of becoming a leading mid-tier gold company in South America.”
“I also wish to thank John Morris, who will step down from the Board at the upcoming shareholders’ meeting, for all his contributions to our Company. He joined the Board in 2002, when UME had barely more than a dozen employees, a wide range of potential exploration projects and little focus. His knowledge, skills, experience and contacts have been critical to the transformation of the Company into what it is today. I shall greatly miss him, his advice and support. All shareholders have much to thank him for,” closed Mr. Shearer.
Pedro Ignacio Salazar Blanco, aged 44, holds a Masters Degree in Economics and Business Administration and a Masters Degree in Law from the University of Deusto, Spain. He has 19 years of international experience in corporate finance, accounting, treasury and reporting functions. Before joining the Company, Ignacio held senior positions at Shell in several countries in Europe and Latin America in finance and business development.
John Alfred Sadek, aged 44, has been the Vice President of Operations of the Company since October 2004. He is a Mining Engineer, has a Bachelor of Engineering (Mining) from the University of Sydney, and is a member of the Australian Institute of Mining and Metallurgy and the Society for Mining Metallurgy and Exploration. He has over 20 years of international experience in mining, having previously worked with Minera Yanacocha, Western Mining and Minera Alumbrera.
George Anthony Schroer, aged 48, has been the Vice President of Exploration of the Company since July 2006. He is a Certified Professional Geologist, has a Masters of Science in Geology from Colorado State University, and is a member of the SEG Society of Exploration Geologists and the American Institute of Professional Geologists. He has over 20 years of international experience in exploration. He has previous experience with Bolivar Gold Corp., AngloGold Exploration Peru S.A. and Homestake on the Veladero Project in Argentina.
Pursuant to the AIM Rules Messrs. Salazar, Schroer and Sadek declare the following:
– none of them are nor have been at any time within the last five years a director or partner of any company or partnership;
– none of them have been convicted in relation to any indictable offences;
– none of them have been in bankruptcy or have entered into individual voluntary arrangements;
– none of them have been directors of any company at the time of or twelve months preceding any receiverships, compulsory liquidations, creditors’ voluntary liquidations, administration, company voluntary arrangements or any composition or arrangement with its creditors generally or any composition or arrangement with its creditors generally or any class of its creditors;
– none of them have been partners of any partnership at the time of or within the twelve months preceding any compulsory liquidations, administrations or partnership voluntary arrangements;
– none of them have been partners at the time of or within the twelve months preceding a receivership of any of their assets or the assets of any partnership of which they were partners;
– none of them have been subject to public criticisms by statutory or regulatory authorities (including recognized professional bodies), and none of them have been disqualified by any court from acting as a director of a company or from acting in the management or conduct of the affairs of any company.