Uruguay Mineral’s Gold Production For 2009

 

MONTEVIDEO, URUGUAY - Uruguay Mineral Exploration Inc reported that it has produced 70,147 ounces of gold for the financial year to May 31, 2009. Ore processed for the year was 1,361,696 tonnes at a gold grade of 1.73 g/t with recovery averaging 92.7%.

In comparison to the previously disclosed target range of 72,000 to 75,000 ounces, lower production was due to waste being encountered in an area where high grade ore was expected in the San Gregorio East pit in May. The area had previously been mined and filled with waste. Mining has progressed into hard rock.

The Company’s forecast production for the 2010 financial year is 60,000 ounces of gold. The overall production shortfall experienced during 2009 was attributable to the Arenal open pit that is now completed. Production during 2009 from other ore sources, which form the basis of the 2010 mine plan, were in line with or exceeded expectations.

The company’s address is Puntas de Santiago 1604, Montevideo, C.P.11, 500?Uruguay, 598-2-601-6354, fax: 598-2-600-6232, email: [email protected].