Dia Bras Exploration Inc.

Dia Bras Exploration Inc.

March 16, 2009 09:03 ET

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

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.

About Dia Bras

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

For further information on Dia Bras visit ww.diabras.com or contact:

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.

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 statement

Contact Information

  • Dia Bras Exploration
    Daniel Tellechea
    President & CEO
    Dia Bras Exploration
    Nathalie Dion
    Investor Relations