Uruguay Mineral Exploration Inc. Notification Concerning Interests in Shares of the Company

    LONDON, June 15 /CNW/ - Saad Investments Company Limited has notified
Uruguay Mineral Exploration Inc. (the "Company") (TSX VENTURE:UME) (LSE:UGY)
that it holds, in aggregate, 4,904,000 shares, equivalent to 10.09% of the
Company's outstanding shares. This represents an increase of 1,462,600 shares
since its last notification on 15 April 2005.

    Additionally, the Company has been notified by AXA S.A. and its Group of
Companies of its holding of 6,403,200 shares in aggregate, equivalent to
13.18% of the Company's outstanding shares.

    The current issued share capital figure for the Company is 48,581,935 as
at close of business 14 June 2007.

    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 focused 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 or David Fowler, CEO:
598 2 6016354 urumin@ume.com.uy or Shared Value Ltd Emily Bruning: +44 20 7321
5027 ebruning@sharedvalue.net or Collins Stewart Europe Limited Chris
Rollason: +44 20 7523 8308 crollason@collins-stewart.com

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