ISLA CRISTALINA BELT

REGIONAL EXPLORATION

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Project Description: Regional exploration on the Isla Cristalina Belt is being carried out at Veta Rodrigo and Castrillón in the west comprising a total area of 37,863 hectares, and at Vichadero, Cerro Chato, Vaca Muerta and Curtume in the east comprising a total area of 48,012 hectares. The western projects are located 15 - 20 kilometres northwest of the San Gregorio mine, and those in the east are up to 80 kilometres away from San Gregorio.

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Geology: The regional geology consists of a Proterozoic granite-greenstone sequence. The metamorphic grade of this sequence ranges from greenschist through to amphibolite facies. Anomalous gold mineralization is present along the entire 110 kilometre strike length of the belt, and it is spatially associated with the Rivera Shear Zone. Gold is often associated with shear style structures similar to those which host the mines in the San Gregorio and Zapucay districts. Geological mapping suggests that the mineralized structures which host the known resources in these two districts are confined to the western half of the Isla Cristalina. In the eastern half of Isla Cristalina, and in particular at the Vichadero prospect, mineralized and sheeted vein complexes occur in granites and quartz monzonites.

Exploration Results: Various exploration activities during calendar year 2007 have resulted in drill programs being planned for four different locations as part of the 2008 regional exploration program. At Vichadero, significant results have been received from a rock-chip sampling program. Some of the results are presented below.

Isla Cristalina Generalized Geology and Project Locations
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Isla Cristalina East Generalized Geology and Project Locations

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Isla Cristalina Central Block Generalized Geology and Project Locations

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Isla Cristalina West Generalized Geology and Project Locations

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Planned Activities: During calendar year 2008 UME expects to drill test Veta Rodrigo and Castrillón in western Isla Cristalina. The objective at Castrillón is to define a resource. In eastern Isla Cristalina the Curtume and Vaca Muerta prospects will also be drill tested during 2008. At Vichadero, soil sampling, trenching and geophysics are underway which will be followed by drilling if justified. At Cerro Chato, prospecting and follow-up stream sediment sampling will be completed.

REGIONAL EXPLORATION Exploration Activities & Results Summary (as of February 29, 2008)
CALENDAR YEAR	ACTIVITY		RESULTS
CURRENT RESULTS
2007/2008	Veta Rodrigo	Mapping & sampling	Drill program in progress.
	Castrillón	Resource definition	Drill program progress.
	Vichadero	Mapping, sampling & geophysics	Rock-chip sample results: 1.7, 2.27, 14.83, 15.77, 21.1, 84.1 g/t Au. Soil sampling underway to cover 14 square kilometres, centred on the anomalous area defined by rock-chip sampling.
	Cerro Chato	Prospecting & sampling	Highly anomalous historical BLEG samples are being followed up with prospecting and stream sediment sampling.
	Vaca Muerta	Mapping, sampling & geophysics	Drill program pending.
	Curtume	Mapping & sampling	Soil sampling completed over a grid area of 20 square kilometres. Trench sampling completed over anomalous zones, anomalous mineralization, includes 3m @ 3.47 g/t Au.