February 24, 2010 08:24 ET

DIOS Discovers a New Carbonatite Complex With Niobium and Tantalum Potential at Shipshaw, Quebec

MONTREAL, QUEBEC, CANADA--(Marketwire - Feb. 24, 2010) - The exploration team of DIOS EXPLORATION (TSX VENTURE:DOS) is very pleased to report the discovery of the Shipshaw Carbonatite Complex, Saguenay, Quebec, with niobium, tantalum and rare earth potential as well as strontium, barytine and even carbonate potential as a commodity by itself. The discovery was made by drill testing a magnetic anomaly targeting a carbonatite for strategic metals (niobium, tantalum) and rare earths, located a few kilometres away from the 30 years old operating Iamgold's Niobec niobium mine located in St-Honore, Quebec, Canada.

So far, one diamond drill hole to date on the target reached a vertical depth of 190 meters and already 70 % of carbonatite material including a continuous 40 meters length of homogeneous white carbonatite has been intercepted. The following geophysical modelling interpretation for a carbonatite target by an independent geophysics specialist suggested a sub-vertical intrusive with at least a two kilometre diameter, located at a depth of 275 to 325 meters under the surface.

DIOS' core data to date indicates the occurrence of white magnesian carbonatite rocks within ankerite (iron carbonate) altered rocks very similar in appearance to the Niobec mine ore core. Centimeter size fractures filled with well formed barytine crystals can also be observed, as at Niobec. A small portable XRF (X-Ray fluorescence) measurement instrument returned qualitative readings from the core in niobium, tantalum, strontium, baryum, meaning such commodities, for instance, are to be found within the complex. The whole core is currently being sawed in two equal parts with one half to be sent for quantitative whole rock assaying. Drilling in the carbonatite complex is being pursued to reach the modeled large intrusive at depth. Systematic drilling of the intrusive is planned.

The Shipshaw Carbonatite Complex is related to the Saguenay Rift Zone and a fault zone related to the Shipshaw River, discovered through testing an ancient topographic parallel bedrock low.

DIOS' geologists are of the opinion that the Shipshaw Carbonatite Complex was never discovered before due to thick overburden. In addition to carbonatite rocks, alkaline syenites as well as cover of Trenton type calcareous rocks have been intersected through drilling on the DIOS' property. These rock types are also being observed in association with the Niobec mine. The Niobec niobium mine was discovered in the late sixties by SOQUEM who conducted geophysical (magnetic and spectrometric) surveys at the time, which surveys did not cover the actual Shipshaw property of DIOS. The Niobec mine central ore-bearing carbonatite is hosted within a syenite intrusive series covered by Trenton limestones. The DIOS Shipshaw property itself is road accessible and located near various facilities. DIOS is now holding a 60 % interest in the property and can earn an additional 20 % interest from two prospectors by incurring a further 300 000 $ in exploration expenditures.

Carbonatite intrusives are alkaline rock types of particular interest for different commodities such as strategic metals (niobium, tantalum), rare earths and many others. Niobium is used in the making of specific alloys used in the aerospace industry, for instance.

This press release was prepared by M.J. Girard, M.Sc., P.Geo, and a Qualified Person pursuant to National Instrument 43-101.

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 release.

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