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Dia Bras Announces Construction of a New Mill at the Bolivar Mine and Temporary Shutdown of the Cusi Pilot Mining

14:40 EST Tuesday, January 13, 2009

MONTREAL, QUEBEC--(Marketwire - Jan. 13, 2009) - Dia Bras Exploration Inc. (TSX VENTURE:DIB) ("Dia Bras" or the "Company") announced today that its Board of Directors approved today the construction of a mill at the Bolivar Mine (the "Bolivar Mill") and the temporary shut down of the Santa-Edwiges pilot-mining activities of the Cusi Silver District, in the State of Chihuahua, Mexico.

As a result of unprecedented market turbulence in capital markets and the drastic fall in metal prices, management has reviewed its operations in detail over the last quarter and has developed plans with the view to reduce significantly its operational cash costs and cut-off grades at the Bolivar Mine and become more effective and competitive. Dia Bras believes that the mid- and long-term outlook for copper and zinc markets remains positive and feels confident that these steps will deliver the most value to shareholders in the near term and increase financial performance in the future.

In November 2008, the Company released a new NI 43-101 compliant resource calculation for its Bolivar copper-zinc project showing an undiluted total of 1,188,800 tonnes at 2.76% CuEq in the Measured and Indicated categories and 6,290,100 tonnes at 1.97% CuEq in the Inferred Resource category, all at a 2.5% CuEq cut-off for the Upper Skarn and 1% CuEq cut-off for the Lower Skarn and other zones. The increase was considered sufficient to justify an on-site mill of 500 tonnes per day at the Bolivar Mine.

The Bolivar Mill will be built using some equipment from the existing Malpaso mill which requiring therefore the temporary shut down of the Cusi pilot-mining program. During the construction period of the Bolivar Mill, the El Triunfo circuit of the existing mill will remain in activity to maintain revenues through the period. During the first nine-month period of 2009, management forecasts pilot-mining production at the existing mill of 108,000 tonnes at average grades of 2% Cu and 9% Zn.

The Company plans to start dismantling part of the existing mill and construction of the Bolivar Mill during the first quarter of 2009. The Bolivar Mill is expected to be completed during the last quarter of 2009. With the Bolivar Mill, Dia Bras will eliminate the high transportation cost of shipping ore to the existing Malpaso Mill and reduce significantly operating cash costs. The current pilot mining activities of Bolivar utilizes the Malpaso mill, which is located 300 km from the mine. The Company expects to reduce the future operating cash cost per pound produced at Bolivar to an equivalent average of less than $1.00 per pound of copper including exploration and development costs.

The Company has reached an agreement in principle with the local Ejido Community for a long term lease of the surface land that will be used to accommodate the Bolivar Mill and a new tailings dam adjacent to the new mill facilities to be located approximately 5 kilometres from the Bolivar Mine. It is expected that the relevant legal documents will be executed during February of 2009. Additionally, an environmental impact study for the new tailings dam has been initiated and is expected to be completed during the first quarter of 2009.

Management has estimated minimal capital costs for the construction of the new mill to be $5 million which includes all engineering, procurement and construction costs. The Company is seeking near-term financing and negotiating for a new loan facility with a third party to fund construction of the Bolivar Mill. Production is scheduled to commence in the fourth quarter of 2009.