Dia Bras Exploration Inc.
TSX VENTURE : DIB

Dia Bras Exploration Inc.

June 07, 2007 13:39 ET

Dia Bras Holds Annual Shareholders Meeting: Appoints Two New Board Members

MONTREAL, QUEBEC--(Marketwire - June 7, 2007) - Dia Bras Exploration Inc. (TSX VENTURE:DIB) held its Annual Shareholders' Meeting today at the Queen Elizabeth Hotel in Montreal. Executive Chairman Dr. Thomas Robyn, and President and CEO Rejean Gosselin presented an overview of the 2006 exploration and pilot-mining activities and an update of the current programs. The Company also announced the appointment of Mario Caron and Daniel Tellechea to the Company's Board of Directors.

THE YEAR IN REVIEW

The year 2006 was a period of remarkable progress for Dia Bras as met its goals. The exploration program on the Company's copper-zinc property Bolivar was mainly financed from its pilot-mining activities. US$27 million in sales and US$15 million of operating free cash were generated from the production of 96,575 tonnes of Cu and Zn at the Company's Malpaso Mill. Through its 2006 of drilling and other exploration work, knowledge about the potential of the Bolivar property increased significantly during 2006. The property is within types of geological systems that are renowned for producing high-value deposits.

By mid-2006, the Company also extensively broadened its land package by acquiring an entire silver district, after six months of negotiations with various owners of the mines and mineral rights in the district. Dia Bras' position is exceptional in that it controls the entire Cusi district; this extent of control represents a unique first in the area's history. Exploration work on the Cusi district is revealing many silver-mineralized veins that represent major targets for exploration and development.

THE YEAR IN PROGRESS

In 2007, the Company's base case forecast projects gross production value of US$34 million with operating free cash of US$11 million, allowing Dia Bras to finance its exploration programs on both the Cusi Silver District and the Bolivar Cu-Zn property.

Some 25,000 m of drilling on each property is in progress and we look forward to updating our shareholders on our discoveries.

NEW BOARD MEMBERS

Mr. Mario Caron and Mr. Daniel Tellechea are newly appointed members of the Dia Bras Board. They join the current slate of members: Philip Renaud, Robert D. Hirsh, Thomas L. Robyn, Rejean Gosselin and Andre St-Michel.

Mr. Caron is the President and CEO of Tiberon Minerals Ltd. Mr. Caron has over 30 years of experience in mine development, government relations and project financing, with extensive Chief Executive Officer and board-level expertise in operations, exploration and financing in Canada, the United States, Central and South America, and West Africa. He holds a Bachelor of Engineering degree in Mining from McGill University and is a member of the Quebec Order of Engineers and the Association of Professional Engineers of Ontario.

Daniel Tellechea is currently an independent financial and management consultant after an extensive period as an executive of large corporations. He was President and CEO of Asarco LLC until 2005. Previously, from 1994 to 2003, Mr. Tellechea was the Managing Director of Finance and Administration of Grupo Mexico, Asarco's parent corporation. For the period between 1999 and 2003, he also served as Asarco's Chief Financial Officer and as Vice-President of Finance for Southern Peru Copper Corporation, majority-owned by Grupo Mexico. Mr. Tellechea received a BSc in accounting from the Tecnologico de Monterrey (Mexico) and a Master's Degree in Business Administration. Mr. Tellechea is also a Director of Revett Minerals Inc. and Silver Eagle Mines Inc.

LIVE WEBCAST

The Company will webcast the management presentation from its website at www.diabras.com.

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".

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 that 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.

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

Contact Information

  • Dia Bras Exploration
    Thomas L. Robyn
    Executive Chairman
    514-393-8875
    or
    Dia Bras Exploration
    Rejean Gosselin
    President & CEO
    514-393-8875
    www.diabras.com
    or
    Sun International Communications
    Nicole Blanchard
    Managing Partner
    450-627-6600