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Dia Bras Reports Significant Drill Intersections From the El Gallo Area, Bolivar Project and New Management Appointments

10:28 EDT Tuesday, July 29, 2008

MONTREAL, QUEBEC--(Marketwire - July 29, 2008) - Dia Bras Exploration Inc. (TSX VENTURE:DIB) is pleased to provide new drilling results from the ongoing 20,000-metre exploration program at its Bolivar project and announce new appointments to the Company's management team.

Drilling Results

In the El Gallo area, a series of holes drilled east of the newly discovered bornite zone (ref. press release of April 8, 2008) intersected widespread copper mineralization, thus extending further east the known copper-bearing portions of the upper and lower skarns. Of particular interest is hole DB08B248 that intersected 18.1 metres core length (estimated true width of 11.6 metres) of 2.2% Cu, 0.72 g/t Au, 32 g/t Ag and 26.4% Fe in the lower skarn horizon. The first 2 metres of this interval displayed minor bornite mineralization with grades of 4.5% Cu, 52.2 g/t Ag, 1.4 g/t Au and 38% Fe. This intersection is situated approximately 60 metres ENE of hole DB07B242, which intersected 3.1% Cu over 18 metres (core length) in the upper skarn.

In the same area, hole DB08B251 intersected high gold grades with lesser copper grades that averaged 1.7% Cu, 31 g/t Ag, 4.1 g/t Au and 15.4% Fe over 2.7 metres core length (1.9 metres estimated true width) in the lower skarn.

In the western part of the El Gallo area, hole DB08B247 intersected the lower skarn over 8 metres core length (7.5 metres true width) and averages 1.3% Cu, 25 g/t Ag and 0.24g/t Au.

These intersections further confirm the extent of the lower skarn horizon to the south-east and north-west of the main El Gallo area and will allow increasing the resource base of the Bolivar project.

Bolivar Mine Area (Alta Ley)

Surface and underground diamond core drilling at Bolivar Alta Ley are aimed at continuing to define the Rosario and Fernandez mineralized trends while also identifying potential new zones of mineralization, as well as further delineating the Selena, Titanic and Rosario massive sulfide lenses.

In the Bolivar mine area, the best drill intercepts were observed in underground hole DB08BM166 that intersected 8.4 metres core length (2.2 metres estimated true width) of 5% Cu, 25.4% Zn, 29 g/t Ag and 0.07 g/t, and in hole DB08BM147 that intersected 4.7 metres core length (estimated true width of 3.0 metres) of 2.5% Cu, 6.9% Zn, 44 g/t Ag and 0.06 g/t Au, both in the Titanic zone.

Bolivar Mine Area (San Francisco)

The San Francisco zone is a newly opened underground area. A 160-metre positive ramp from Alta Ley reached this zone at the beginning of July, and definition drilling and development work will be undertaken soon. This zone was discovered in 2004 and 2005 during the surface drilling exploration program. Underground drilling has enabled the defining of a block of mineralized material that will be included in the updated resource statement that should be announced at the end of the third quarter.

The best underground intersections in this area come from hole DB08BM165 that intersected 16.2 metres core length (estimated true width of 4.2 metres) of 1.0% Cu, 8.7% Zn, 30 g/t Ag and 0.18 g/t Au. Other interesting holes in this area include DB08BM155 that intersected 3.0 metres core length (1.9 metre estimated true width) of 1.9% Cu, 0.7% Zn, 17 g/t Ag and 0.51 g/t Au.

La Montura Area

The best intersection in this area is in hole DB08250 that intersected a first zone of 2.1 metres core length (1.5 metre true width) of 4.3% Zn, 27 g/t Ag and 6.81 g/t Au, and a second zone of 4.8 metres core length (3.4 metres estimated true width) of 0.1% Cu, 4.0% Zn, 739 g/t Ag and 0.23 g/t Au in the El Val sector.

To view the full table of assays results please visit the following link: http://www.diabras.com/en/newscenter...

2008 Drill Program

In the second quarter of 2008, 8,433 metres of core diamond drilling have been completed at Bolivar (surface and underground), which bring the year total to 14,605 metres.

-------------------------------------------------------------------------
            Zone          Jan.   Feb.   Mar.   Apr.   June   July   Total
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Under-
 ground     San Angel                                         165     165
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            San Francisco 147    123    214    382   1,207    396   2,469
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            Selena        387    318                                  705
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            Titanic 2            202    416     86     606    261   1,571
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Mine Total                534    643    630    468   1,813    822   4,910
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Surface     El Gallo      248    484    527  1,070   1,298    521   4,148
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            El Val               135    726    270     954    354   2,439
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            La Narizona   363    672                                1,035
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            Bolivar
             Alta Ley     509    386    114                         1,009
-------------------------------------------------------------------------
            La Increible                201    375      59    429   1,064
-------------------------------------------------------------------------
Surface
 Total                  1,120  1,677  1,568  1,715   2,311  1,304   9,695
-------------------------------------------------------------------------
Total                   1,654  2,320  2,198  2,183   44,12  2,126  14,605
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Method of analysis

Samples were prepared at the Chemex lab facility in Chihuahua, Mexico, and analyzed by ICP and AA methods at their facilities in Vancouver, Canada. Diamond drill samples sent for analysis consisted of half NQ-size diamond core split on site, prepared by the ALS Chemex sample preparation laboratory in Chihuahua, Mexico, and assayed for Au by 50 g fire assay with AA finish, and for Ag by AA on 50 g split sample at the ALS Chemex North Vancouver Laboratory. Assays for Pb, Zn and Cu are done by Induction Coupled Plasma (ICP) at Chemex.

Quality control

The quality assurance-quality control (QA-QC) of Dia Bras has been described in detail in both RPA's 43-101 reports of December 2006 at Cusi and October 2005 for Bolivar.

The technical content of this news release has been approved by Francois Auclair, P. Geo. and VP, Corporate Development of Dia Bras, a Qualified Person as defined in NI43-101.

New Management Appointment

The Company is also pleased to announce new appointments to the Company's management team. The new management structure will facilitate the development of its mining projects and ensure the Company's long-term growth strategy.

Mr. Francois Auclair, formerly Vice-President, Exploration appointed in March 2007, will become Vice-President, Corporate Development. Mr. Auclair will be responsible for overseeing the internal feasibility study of the Bolivar project and for the evaluation of new business opportunities. He will also assist the President and CEO with investor relations.

Mr. Eugene Schmidt has been appointed Vice-President of Exploration where he will lead Dia Bras' exploration program at the Bolivar and Cusi projects as well as in new exploration and property acquisitions. With 35 years' experience, Mr. Schmidt (M.Sc. Geology) has held senior exploration and management positions throughout the Americas for Southern Peru Copper Company, Cia Minera El Indio, Freeport Exploration and The Anaconda Company as well as Canadian junior companies including Soho Resources, Bell Copper Company and Goldex Resources. He has consulted for major and junior companies alike including Phelps Dodge, Barrick Gold, Battle Mountain Gold, and Triton Mining Inc.

About Dia Bras

Dia Bras is a Canadian exploration mining company focused on precious and base metals in the State of Chihuahua, in northern Mexico. The Company is committed to developing and adding value to its assets - the Bolivar copper-zinc project and the Cusi silver mining camp. The Company trades on the TSX Venture Exchange under the symbol "DIB".

Forward-looking statements:

Except for statements of historical fact all statements in this news release without limitation regarding new projects acquisitions future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

FOR FURTHER INFORMATION PLEASE CONTACT:

Dia Bras Exploration
Daniel Tellechea
President & CEO
514-393-8875

Dia Bras Exploration
Francois Auclair
VP Corporate Development
514-393-8875

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.