Dia Bras Exploration Inc.
TSX VENTURE : DIB

Dia Bras Exploration Inc.

April 28, 2009 17:23 ET

Dia Bras Announces Late Filing of Annual Financial Statements

MONTREAL, QUEBEC--(Marketwire - April 28, 2009) - Dia Bras Exploration Inc. (TSX VENTURE:DIB) announces that it will not file its annual financial statements for the fiscal year ended December 31, 2008 and the related management's discussion and analysis by the legal deadline of April 29, 2009. Dia Bras has made an application to the provincial securities commissions under National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults requesting that a management cease-trade order be imposed in respect of the late filing, rather than a cease-trade order against all of Dia Bras' shareholders. Dia Bras' failure to file its audited financial statements by the prescribed deadline is due to the implementation of new accounting policies.

Should Dia Bras fail to file the appropriate Default Status Report as prescribed by National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults, the securities commissions or regulators may as a result impose an issuer cease-trade order against all shareholders of Dia Bras. Dia Bras expects to file its audited financial statements for the fiscal year ended December 31, 2008 and the related management's discussion and analysis by May 15, 2009. Dia Bras confirms that it intends to provide Default Status Reports for so long as it is in default of its requirement to file the annual financial statements.

Dia Bras also confirms that, at the date hereof, there are no insolvency proceedings against it and no other material information concerning the affairs of Dia Bras that has not been generally disclosed.

About Dia Bras

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

For further information on Dia Bras visit www.diabras.com

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.

Contact Information

  • Dia Bras Exploration
    Daniel Tellechea
    President & CEO
    514-393-8875
    or
    Dia Bras Exploration
    Nathalie Dion
    Investor Relations
    514-393-8875