Dia Bras Exploration Inc.
TSX VENTURE : DIB

Dia Bras Exploration Inc.

April 23, 2008 14:00 ET

Dia Bras: New Agreement With Compania Minera Cusi

MONTREAL, QUEBEC--(Marketwire - April 23, 2008) - Dia Bras Exploration Inc. (TSX VENTURE:DIB) reports having entered into a new agreement with Compania Minera Cusi, a Mexican private company ("Minera Cusi") regarding several properties covering 1,133.5 hectares (Santa Edwiges and Promontorio sector) (the "Properties").

Pursuant to the new agreement, the Company is now purchasing instead of having an option to purchase, the Properties for US$3,060,000 The purchase price is payable as follows: US$500,000 on signature of the new agreement,US$500,000 in November 2008 and four quarterly installments of US$515,000 until the end of December 2009. Minera Cusi retains the right to the sliding scale royalty consisting of a 2% NSR if the price of silver is equal to a maximum of US$11.00 per ounce or a 3% NSR if the price of silver exceeds US$11.00 per ounce.

Director resigns

Dia Bras also announces that Andre St-Michel has resigned from the Board of Directors effective as of April 11, 2008. The Board does not have any immediate plans to replace Mr. St-Michel.

Stock option

The Board granted a total of 300,000 options to purchase common shares in the Company to two executive members. All options have an exercise price of $0.61 and an exercise period of five years and a hold period of four months

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 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.

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

Contact Information

  • Dia Bras Exploration
    Daniel Tellechea
    President & CEO
    514-393-8875 ext. 241
    or
    Dia Bras Exploration
    Nathalie Dion
    Investor Relations
    514-393-8875 ext. 241
    www.diabras.com