Uruguay Mineral Exploration and Fortune Valley Resources complete plan of arrangement

On January 7, 2010, Uruguay Mineral Exploration Inc. (TSX-V: UME; LSE:UGY) and Fortune Valley Resources Inc. (TSX VENTURE: FVX) announced the completion of the previously announced plan of arrangement, pursuant to which Uruguay Mineral acquired all of the issued and outstanding common shares of Fortune Valley in consideration for 0.4534 of one Uruguay Mineral common share plus $0.001 in cash for each common share of Fortune Valley. The Arrangement was carried out pursuant to the provisions of the Business Corporations Act (British Columbia) and was approved by the Supreme Court of British Columbia and the affirmative vote of Fortune Valley's shareholders at a special meeting of the shareholders held on December 29, 2009. Uruguay Mineral was advised in this transaction by Fasken Martineau with a team that included Nancy Eastman and Daye Kaba (corporate/securities) and Mitchell Thaw (tax).