Uruguay Mineral Exploration Inc.: Directors' Dealing

    LONDON, March 9 /CNW/ - Uruguay Mineral Exploration Inc. (the "Company")
(TSX:UME) (LSE:UGY) announces that Tony Shearer, Non Executive Chairman of the
Company, yesterday purchased 8,000 Common Shares in the Company ("Common
Shares") at a price of GBP 1.72 per share.

    Following this purchase, Mr Shearer will have an interest in 453,834
Common Shares representing 0.93% of the Company's issued share capital.

    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 Uruguay (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.

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

For further information:

For further information: Uruguay Mineral Exploration Inc Tony Shearer,
Chairman 44 20 7602-1570 tonyshearer@btinternet.com David Fowler, CEO 598 2
6016354 urumin@adinet.com.uy or Shared Value Ltd Emily Bruning +44 20 7321
5027 ebruning@sharedvalue.net Collins Stewart Europe Limited Chris Rollason
+44 20 7523 8308 crollason@collins-stewart.com

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