Uruguay Mineral Exploration Inc.:STOCK OPTIONS GRANTED

    MONTEVIDEO, URUGUAY, November 15 /CNW/ - Uruguay Mineral Exploration Inc.
("UME") (TSX VENTURE:UME) (LSE:UGY) announces that it has granted an aggregate
of 720,000 stock options to Directors, Officers and employees, exercisable at
a price of CDN$ 3.30 per Common Share on or before November 13, 2012.

    UME employees were granted a total of 250,000 stock options and the
balance, equivalent to 470,000 stock options, was granted to the following
Director and Officers:

    David Fowler      200,000 options
    George Schroer    150,000 options
    John Sadek        120,000 options

    All of these options were granted on November 14, 2007 and vest in three
equal parts on November 13, 2008, November 13, 2009 and November 13, 2010.

    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 RBC Capital Markets is its Nominated Adviser and Broker.

For further information:

For further information: Uruguay Mineral Exploration Inc Tony Shearer,
+44 20 7602-1570 Chairman tonyshearer@btinternet.com or David Fowler, 598 2
6016354 CEO urumin@ume.com.uy or Investor/Media Relations Shared Value Ltd:
Emily Bruning, +44 (0) 20 7321 5027 ebruning@sharedvalue.net or RBC Capital
Markets Andrew Smith, +44 (0) 20 7029 7882 andrew.smith@rbccm.com

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