Dia Bras Exploration Inc.

Dia Bras Exploration Inc.

November 20, 2006 12:27 ET

Dia Bras Receives more than CDN $10.2 Million from the Exercice of Warrants

MONTREAL, QUEBEC--(CCNMatthews - Nov. 20, 2006) - Dia Bras Exploration Inc. ("Dia Bras" and or the "Company") (TSX VENTURE:DIB) is pleased to announce that an overwhelming majority of warrant holders has exercised the last remaining outstanding warrants for common shares, thereby increasing the Company's cash position by more than CDN $10.2 million to a total of CDN $25 million.

Dia Bras received CDN$ 10,280,897 from the exercise of 11,432,218 warrants, representing more than 95% of the outstanding warrants.

Funds will be used mainly for the exploration and development activities on the Cusi silver mining camp and Bolivar mine area, and extensive drilling programs.

The Malpaso Mill's additional circuit processing 500 tpd is scheduled to be up and running by the end of November. With this additional capacity the Mill will be processing 850 tpd as previously announced, 500 tpd from the Cusi Silver district and 350 tpd from the Bolivar Copper and Zinc deposit. Approximately 15,000 tonnes of material from Cusi should be processed by the end of the current fiscal year as part of a first bulk sampling analysis.

The Company commissioned an independent 43-101 technical report to Scott Wilson Roscoe Postel, which is expected to be completed by the end of this year.

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 newly acquired Cusi silver mining camp. The Company trades on the TSX Venture Exchange, under the symbol "DIB".

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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 Inc.
    Thomas L. Robyn
    Execuvtive Chairman
    514-393-8875 ext 241
    Dia Bras Exploration Inc.
    Rejean Gosselin
    514-393-8875 ext. 241
    Sun International Communications
    Nicole Blanchard
    Managing Partner