Dia Bras Exploration Inc.

Dia Bras Exploration Inc.

February 22, 2011 10:30 ET

Dia Bras Reports Fourth Quarter and Full Year 2010 Volumes

TORONTO, ONTARIO--(Marketwire - Feb. 22, 2011) - Dia Bras Exploration Inc. (TSX VENTURE:DIB) reports results from its Bolivar pilot-mining and Cusi advanced development programs in Chihuahua, Mexico, for the fourth quarter ending December 31, 2010 and cumulative results for the full year.

Dia Bras is providing these production statistics from its Mexican operations in order to provide shareholders with a more timely review of recent operational performance. The numbers are preliminary and subject to adjustment. Updated 2010 guidance will be provided with the release of the audited Annual Financial Statements and Management Discussion and Analysis.


Table 1 - Bolivar Pilot-Mining

Summary of Comparative Statistics for Fourth Quarter and Full Year Ended December 31, 2010 and 2009

      % Actual Actual %
      Variation Full Full Variation
      2010 Year Year 2010
  Actual Actual Over Cumulative Cumulative Over
  Q4-2010 Q4-2009 2009 2010 2009 2009
Tonnes processed 22,625 21,610 4.70 104,822 89,577 17.02
Daily throughput 259 247 4.86 300 256 17.19
Copper grade 1.45% 1.79% -19.00 1.45% 1.81% -19.89
Zinc grade 7.33% 10.09% -27.35 8.59% 10.06% -14.61
Copper recovery 88.40% 89.62% -1.36 86.57% 87.51% -1.07
Zinc recovery 86.93% 89.43% -2.80 88.45% 89.04% -0.66
Total production of copper (pounds) 638,300 764,097 -16.46 2,900,700 3,122,783 -7.11
Total production of zinc (pounds) 3,180,200 4,297,664 -25.98 17,556,100 17,686,209 -0.73
Average price of copper per pound, $US $3.92 $3.02 29.80 $3.42 $2.33 46.78
Average price of zinc per pound, $US $1.05 $1.00 5.00 $0.98 $0.75 30.67
  $114.69 $95.25 -20.41 $98.20 $92.10 -6.62
Operating cash costs US$/DMT
Foreign exchange rate, 2010 average Mexican Peso : US Dollar 12.3920 13.0731 -5.21 12.6333 13.5125 -6.51


Table 2 - Cusi Advanced Development

Summary of Comparative Statistics for Fourth Quarter and Full Year Ended December 31, 2010 and 2009

      % Actual Actual %
      Variation Full Full Variation
      2010 Year Year 2010
  Actual Actual Over Cumulative Cumulative Over
  Q4-2010 Q4-2009 2009 2010 2009 2009
Tonnes processed 6,454 3,945 63.60 24,737 6,232 296.94
Daily throughput 74 45 64.44 71 36 97.22
Silver grade in grams per tonne (g/t) 298 284 4.93 278 283 -1.77
Lead grade 1.11% 0.62% 79.03 0.85% 0.90% -5.56
Silver recovery, flotation + leach 79.86% 65.78% 21.40 79.94% 64.26% 24.40
Lead recovery 56.75% 50.80% 11.71 50.26% 54.01% -6.94
Total production of Silver, flotation + leaching (oz) (includes Silver doré) 48,229 23,662 103.83 166,965 36,489 357.58
Total production of Silver doré (oz) 4,578 181 2,429.28 14,522 181 7,923.20
Total production of Lead (pounds) 89,270 27,325 226.70 234,081 66,655 251.18
Operating cash cost US$/tonne milled 96.07 99.92 3.85 70.88 159.33 55.51
Average price of Silver per ounce, $US $26.43 $17.57 50.43 $20.16 $16.34 23.37
Average price of Lead per pound, $US $1.08 $1.04 3.85 $0.97 $0.96 1.04

About Dia Bras

Dia Bras is a Canadian exploration mining company focused on precious and base metals in Chihuahua State and other areas of northern Mexico. The Company is pursuing the development and exploration of its most advanced assets – the Bolivar Property (copper‐zinc‐silver) and the Cusi Property (silver). Dia Bras is also exploring several precious metal targets such as La Cascada project at the Bolivar Property, the Las Coloradas project at Melchor Ocampo (Zacatecas State), the Bacerac Property (Sonora State) and the La Verde project at the Batopilas Property (Chihuahua State). 

The Company's shares trade on the TSX Venture Exchange under the symbol "DIB". 

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 news release.

Forward-looking Statements

This news release contains certain statements that constitute forward-looking statements. Forward-looking information includes, but is not limited to, information concerning Dia Bras' 2010 guidance respecting pilot-mining production, and potential plans for Bolivar and Cusi projects. Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to foreign currency fluctuations; risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; the potential for and effects of labour disputes or other unanticipated difficulties or shortages of labour or interruptions in production; actual rocks mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of pilot-mining activities and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; and other risks and uncertainties. Refer to "Risk and Uncertainties".

Forward-looking information is, in addition, based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long-term price of zinc, copper, lead and silver; the regulatory and governmental approvals for the Company's projects and other operations on a timely basis; access to financing, appropriate equipment and sufficient labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Although the forward-looking statements contained in this MD&A are based upon what management believes to be reasonable assumptions, the Company cannot guarantee that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this MD&A, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances, except as required under applicable securities regulations.

Contact Information

  • Dia Bras Exploration Inc.
    Daniel Tellechea
    President & CEO
    Dia Bras Exploration Inc.
    Karl J. Boltz
    Vice President, Corporate Development