TSX Venture Exchange - DIB
Bolsa de Valores de Lima - DIB

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TORONTO, July 24, 2012 /PRNewswire/ - Dia Bras Exploration Inc. (TSXV: DIB) (BVL: DIB) ("Dia Bras" or the "Company") is pleased to announce that its in-fill drilling programme designed to increase the resource categories of the Antacaca, Rosaura and Catas orebodies at the Yauricocha mine in Peru is yielding positive results delineating longer strike lengths of orebodies and connections of some of orebodies at depth. Twenty-two diamond holes have been drilled in the Antacaca-Rosaura orebody and thirteen holes have been drilled at the Catas orebody. These deposits are within the Central Mine Area where the Company's mining is focused.

Press Release Highlights:

• Eight of the thirteen drill holes in the Catas orebody returned significant results and eighteen of the twenty-two drill holes in the Antacaca-Rosaura orebodies also returned significant results
• At Catas, drilling shows that zones that had not been known to be mineralized are continuously mineralized with a combination of copper-type and polymetallic-type areas, making the Catas orebody possibly over 160 meters in strike length, while its limits still remain open at depth.
• At Antacaca-Rosaura, the drill pattern of successful holes shows that these bodies merge at depth and create a single orebody over 200 meters in strike length, which is mainly of the polymetallic type. The limits of these orebodies also remain open to depth.
• Exploration outside the immediate Yauricocha mine area has begun.
  • A magnetic & induced polarization survey is in progress along the Yauricocha Fault. Geologic mapping and sampling were also started in mid-July.
  • Drilling of the Adrico gold area is scheduled for early August

Daniel Tellechea, President and CEO of Dia Bras, commented: "The aggressive drilling programme being conducted by the Company continues to demonstrate how extensive mineralization is in the Yauricocha Central Mine Area, where we will soon begin construction of a 1,000 m deep mine shaft. The drilling results presented here allow us to develop new areas of the mine and maintain our production levels. In addition, exploration has started on a section of the Yauricocha fault that has never been explored. We are conducting basic exploration work that is designed to discover deposits of the Yauricocha type. Dia Bras this year is conducting its most aggressive exploration program at its Peruvian and Mexican properties and accordingly updating our NI 43-101 reports and future growth plans."

Recent Drilling Results

Drilling of the Antacaca, Rosaura and Catas orebodies has been conducted during the months of April through July, and continues. The objective of the drilling is to increase the resource category of these orebodies and to assist mine planning, as production moves into these areas.

Examination of the attached long section shows that areas at the Catas deposit that had not been known to be mineralized in fact appear to be continuous, making the Catas body possibly 160 meters or more in strike length as a combination of copper-type (green color) and polymetallic-type mineralization (purple color). Also, the drill pattern of successful holes in the Antacaca-Rosaura body shows that these bodies merge at depth and create a single orebody over 200 meters in strike length, which is dominantly of polymetallic type. Both orebodies are open to depth.

The attached long section shows the piercing points of the drill holes reported herein and assay results from recent drill holes are shown in the tables below:

Antacaca-Rosaura Orebodies Drill Results

Catas Orebody Drill Results:

Exploration Programme

During 2012, Dia Bras plans to explore other targets identified by its mine geology staff. These are:

• Yauricocha Fault: The magnetic & induced polarization survey will be completed in early September along a six-km strike length with lines 1,000 to 2,300 m long at a line spacing 100 m, for a total of 62.55 line-km. The survey extends from Mina Cachi-Cachi in the north through the Central Mine Area to Cerro Astomarca, 4 km SE of the Central Mine Area. The survey is being conducted by Arce Geofísicos S.A.C. of Lima, using a Scintrex ENVI magnetometer and a GDD Txii-5000 IP system.
  
  
• Adrico gold prospect: An underground drill station is being developed at the end of the 400-m-long Victoria adit, on Level 330. Drilling is scheduled to commence in early September. The primary target is the contact of the Yauricocha intrusion with the main limestone host rock of the main deposits of the Yauricocha mine, which are located 500 m to the NNW. An initial eight holes totalling 1,600 m are planned, with an additional six holes planned to test the down-dip projection of the Adrico disseminated gold deposit.

Exploration work in other areas, such as Ipillo (silver, zinc, lead) and Carmencita (silver, lead oxides), will commence when the Company has completed negotiations with local authorities for access on the surface.

Update of NI 43-101 Report

The Company has commissioned an update of the NI 43-101 compliant resource calculation, dated May 25, 2011, for the Yauricocha property and the required property visit was made by a representative of Gustavson Associates, Lakewood, Colorado, during mid-April. The final report is expected during August 2012.

Method of Analysis

Samples are prepared at the Yauricocha lab facility in the Chumpe mill, which is on site. Core and channel samples from the mine are assayed utilizing one of two procedures. Silver, lead, zinc, and copper are assayed by atomic absorption. Gold is fire-assayed with an atomic absorption finish. Diamond drill samples sent for analysis consist of half NQ-size and BQ-size diamond core split on site.

Quality Assurance

The quality assurance-quality control (QA-QC) program employed by Dia Bras has been described in detail in the NI 43-101 report on Yauricocha of May 25, 2011, prepared by Gustavson Associates of Denver, which is available for review on SEDAR.

The technical content of this news release has been approved by Thomas L. Robyn, Ph.D., CPG, RPG, a Qualified Person as defined in NI 43-101 and Head of Exploration for Dia Bras Exploration, Inc.

About Dia Bras

Dia Bras Exploration is a Canadian mining company focused on precious and base metals in Chihuahua State, other areas of northern Mexico, and at its Yauricocha silver-lead-zinc-copper-gold mine in Peru. The Company is accelerating exploration at the Yauricocha property as well as pursuing the development and exploration of its most advanced Mexican assets - the Bolivar Property (copper‐zinc‐silver) and the Cusi Property (silver) and is exploring in Mexico several precious metal targets such as La Sidra gold project at the Bolivar Property, the Las Coloradas silver project at Melchor Ocampo (Zacatecas State), the Bacerac silver project (Sonora State), and the La Verde gold project at the Batopilas Property (Chihuahua State). Dia Bras is also exploring base metal projects in Mexico such as the Corralitos intrusion-hosted molybdenum deposit (Chihuahua State).

The Company's shares trade on the Bolsa de Valores de Lima and TSX Venture Exchange under the symbol "DIB".

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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.

SOURCE Dia Bras Exploration Inc.