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UME hits all targets at year end.

Publication: M2 Presswire
Publication Date: 31-AUG-05
Format: Online
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-31 August 2005-Uruguay Mineral Exploration Inc.: UME hits all targets at year end(C)1994-2005 M2 COMMUNICATIONS LTD

RDATE:30082005

Calgary, Alberta CANADA - Uruguay Mineral Exploration Inc. (UME - TSX Venture, UGY - AIM), has released its financial results for the year ended 31 May, 2005. Highlights of financial results were:

* Gold production for the fourth quarter was 24,844 ounces, virtually on the target annualised production rate for 2005/6 of 100,000 ounces per annum.

Subsequent to year-end, the target rate has been achieved on a sustainable basis, 3 months ahead of schedule. Gold production for the year was 75,026 ounces, the second highest level ever recorded for the San Gregorio Operation.

* Higher production levels have resulted...

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