Dia Bras Exploration Inc.

Dia Bras Exploration Inc.

May 31, 2006 09:48 ET

Dia Bras Holds Annual General Meeting

MONTREAL, QUEBEC--(CCNMatthews - May 31, 2006) -

Company initiates the second phase of its exciting growth

Dia Bras Exploration Inc. (TSX VENTURE:DIB) is hosting its Annual Shareholders' Meeting today at the Queen Elizabeth Hotel in Montreal at 10:00 a.m. (EDT).

Executive Chairman Dr. Thomas Robyn and President and CEO Rejean Gosselin are presenting the three phases of development of the Company. Phase I extended from 2003 to 2005 and included initial property acquisitions in Northern Mexico and saw the Company execute a successful pilot-mining program. Revenues from sale of concentrate of Zinc and Copper were CDN$5.6 million for the 9 months of production in 2005. In the First Quarter of 2006 alone, revenues from sale of concentrate reached CDN$6.1 million and the Company is estimating that total revenues could reach CDN$20 million in 2006, a four-fold increase year-over year.

"The management of Dia Bras has proven its ability to execute rapidly on an aggressive program of exploration and pilot-mining program in Mexico over the last two years. We are now embarking in a second phase of very exciting growth prospects with the doubling of our exploration targets and our moving into precious metals mine development", said Dr Thomas Robyn, executive chairman of Dia Bras.

The Company announced earlier the acquisition of an entire silver district of Cusi, 40 km from the Company's Malpaso Mill. The land acquired is situated in an important mining district of Mexico and includes 12 former mines that historically produced high grade silver but were never exploited with modern techniques. These acquisitions will allow the Company to increase its production level from 300 tpd to more than 600 tpd by year-end, producing silver concentrate through a second flotation circuit at its Malpaso mill.
The preparation for the phase 3 development stage of the Company is already underway. With an increased team of highly qualified technical people, the focus will be on exploring and expanding the resources of multiple large-tonnage targets at its Bolivar mine and commissioning a feasibility study for a large mill on-site in 2007. The Company is very well positioned to explore and develop world-class properties in one of the most promising areas of the world, the Mexican Sierra Madre, and reward its shareholders with excellent return on their investment.

Live Webcast

For those who are unable to attend in person, the Company will simultaneously webcast the management presentation from its website at www.diabras.com.

About Dia Bras

Dia Bras is a Canadian mining and exploration Company focused on precious and base metals in the State of Chihuahua, northern Mexico. The Company continues exploration and the active development of its two key projects - Bolivar and Promontorio - in the world-renowned Sierra Madre mineral belt. The Company trades on the TSX Venture Exchange, under the symbol "DIB". For more information of our Mexican exploration, please consult our Web Site at diabras.com

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press 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.

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