George Schroer Appointed As Vice President Exploration For Uruguay Mineral Explorationadmin
Uruguay Mineral Exploration Inc (UME)(TSX VENTURE:UME – News; AIM:UGY) today announces the appointment of George Schroer, aged 46, as Vice President Exploration, with effect from 15th July 2006.
In his most recent role as Exploration Manager for Bolivar Gold Corp, George led the exploration team in the discovery of an additional 3 million ounces of resource at the Chaco 10 gold project. He has also worked as Advanced Projects Manager for Anglogold Exploration Peru and was Chief Geologist for Homestake at the Valadero project in Argentina.
While Mike Schwabe will retire as Head of Exploration following the appointment of George, he will continue to work with the company in Uruguay as a consulting geologist.
The Company remains committed to accelerating exploration and development efforts and has also undertaken the following initiatives:
– Completion of an independent technical review of UME’s exploration strategy, process and projects by Bill Howald, ex General Manager of North American and Latin American Exploration for Placer Dome. Bill will be retained by UME as a consultant on project evaluation and business development.
– Appointment of an experienced Drilling Superintendent, Mark Davies, to improve efficiency of drilling operations.
– Purchase of a new diamond drill rig capable of drilling to 1,000 meters. This rig will be available to accelerate the start date for drilling at Lascano to October 2006.
– Ongoing retention of an experienced consulting Geophysist, Mr Bob Ellis, to complete the interpretation of the recently completed Bell Geospace surveys and improve the use of geophysical techniques generally within the company.
UME Chairman, Tony Shearer, commented: “I would like to thank Mike Schwabe for his considerable contribution to the development of UME over the last 10 years and am delighted that we have secured the services of George Schroer who comes to UME with a demonstrated track record in successful exploration in South America.”
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 the country (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. In the first half of 2003, the Company discovered the Arenal deposit, currently the largest known gold resource in Uruguay. It is quoted in Canada (TSXV) and London (AIM) and Collins Stewart Limited is the Nominated Adviser and broker.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Tony Shearer Uruguay Mineral Exploration Inc. Chairman + 44 20 7460 8935
David Fowler Uruguay Mineral Exploration Inc. CEO +59 82 601 6354
Emily Bruning Shared Value +44 20 7321 5027
Chris Rollason Collins Stewart Ltd +44 20 7523 8308
Source: Uruguay Mineral Exploration Inc.