Dia Bras Exploration Inc.
TSX VENTURE : DIB

Dia Bras Exploration Inc.

July 14, 2010 10:30 ET

Dia Bras Reports Second Quarter 2010 Volumes

MONTREAL, QUEBEC--(Marketwire - July 14, 2010) - Dia Bras Exploration Inc. (TSX VENTURE:DIB) reports results from its Bolivar pilot-mining and Cusi advanced development programs in Chihuahua, Mexico, for the second quarter ending June 30, 2010 and cumulative results for the first six months of the year.

Dia Bras is providing these production statistics from its Mexican operation 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 second quarter financial results in August.

Bolivar

Table 1 - Bolivar Pilot-Mining

Summary of the Comparative Statistics for Second Quarter and Six Months Ended June 30, 2010 and 2009

          %   Actual   Actual   %  
          Variation   Six   Six   Variation  
          2010   Months   Months   2010  
  Actual   Actual   Over   Cumulative   Cumulative   Over  
  Q2-2010   Q2-2009   2009   2010   2009   2009  
                         
Tonnes processed 29,014   18,948   53.12   56,842   46,935   21.11  
Daily throughput 332   217   53.12   325   268   21.11  
Copper grade 1.46 % 1.55 % (5.81 ) 1.50 % 1.60 % (6.25 )
Zinc grade 9.15 % 7.63 % 19.92   9.56 % 8.63 % 10.78  
Copper recovery 86.31 % 86.51 % (0.23 ) 85.28 % 85.42 % (0.16 )
Zinc recovery 89.90 % 87.41 % 2.85   89.34 % 87.90 % 1.64  
                         
Total production of copper (pounds) 806,800   561,600   43.66   1,600,800   1,423,000   12.49  
Total production of zinc (pounds) 5,262,600   2,907,000   81.03   10,704,700   8,178,100   30.89  
Average price of copper/pound, $US $3.19   $2.11   51.18   $3.23   $1.83   76.50  
Average price of zinc/pound, $US $0.92   $0.67   37.31   $0.98   $0.60   63.33  
                         

Cusi

Table 2 - Cusi Advanced Development

Summary of the Comparative Statistics for Second Quarter and Six Months Ended June 30, 2010 and 2009

          %   Actual   Actual   %  
          Variation   Six   Six   Variation  
          2010   Months   Months   2010  
  Actual   Actual   Over   Cumulative   Cumulative   Over  
  Q2-2010   Q2-2009   2009   2010   2009   2009  
                         
Tonnes processed 6,864   564   1117   12,267   564   2075  
Daily throughput 78   19   310.53   70   19   268.42  
Lead grade 0.72 % 2.26 % (68.14 ) 0.65 % 2.26 % (71.24 )
Silver grade in grams/tonne (g/t) 285   303   (5.94 ) 297   303   (1.98 )
Lead recovery 43.86 % 58.56 % (25.10 ) 41.02 % 58.56 % (29.95 )
Silver recovery, flotation 67.61 % 61.19 % 10.49   69.03 % 61.19 % 12.81  
Silver recovery, flotation + leach 81.78 % 61.19 % 33.65   81.59 % 61.19 % 33.34  
                         
Total production of lead (pounds) 47,547   16,472   188.65   72,537   16,472   340.37  
Production of silver, flotation (oz) 42,585   3,362   1167   80,992   3,362   2309  
                         
Silver in Doré, leach (oz) 4,447   0   -   7,414   0   -  
                         
Average price of lead/pound, $US $0.89   $0.76   17.11   $0.95   $0.76   25.00  
Average price of silver/ounce, $US $18.32   $14.60   25.48   $17.62   $14.60   20.68  

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 Property and the Cusi Property. The Company´s shares trade on the TSX Venture Exchange under the symbol "DIB".

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.

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 release.

Contact Information

  • Dia Bras Exploration Inc.
    Daniel Tellechea
    President & CEO
    1-866-493-9646
    or
    Dia Bras Exploration Inc.
    Karl J. Boltz
    Vice President, Corporate Development
    1-866-493-9646