Breaking News

Dia Bras Finalizes Surface Rights Agreement With the Ejido to Accommodate the Bolivar Mill

09:05 EDT Monday, March 16, 2009

MONTREAL, QUEBEC--(Marketwire - March 16, 2009) - Dia Bras Exploration Inc. (TSX VENTURE:DIB) ("Dia Bras" or the "Corporation") is pleased to announce that its wholly owned Mexican subsidiary, Dia Bras Mexicana S.A. de C.V. ("Dia Bras Mexicana") has entered into a lease agreement (the "Lease") with the ejido (the owners of the surface rights) for a long-term lease of surface land that will be used to accommodate the Bolivar mill and a new tailings dam adjacent to the Bolivar mill to be located approximately 5 kilometres south-west from the Bolivar Mine. The lease covers an area of 50 hectares and provides for annual payments of MX$188,000 (US$12,550) over a 30-year term and automatically renewable for an additional 30 years.

Early-stage activities for the construction, such as environmental impact studies, have been initiated and are expected to be completed during the second quarter of 2009.

In order to finance the construction of the Bolivar mill, the Corporation will have to issue additional equity and borrow funds from third parties. There can be no assurance that sufficient funding will be available to the Corporation or available on terms that do not adversely affect the projected economic return of the development of the Bolivar project.