Diaz Resources Ltd.

Diaz Resources Ltd.

June 20, 2011 07:00 ET

Diaz Update on TSX Delisting Review

CALGARY, ALBERTA--(Marketwire - June 20, 2011) - Diaz Resources Ltd (TSX:DZR) today announced that its recently completed $8.0 million private placement should enable the Company to satisfy the financial condition requirement for continued listing on the Toronto Stock Exchange ("TSX") which was the primary reason for a delisting review initiated by TSX on May 16, 2011. In addition, Diaz's audit committee does not meet the independence requirements of the TSX and the Company will need to rectify this situation to remain listed.

In November 2010, however, the Company filed a listing application with the TSX Venture Exchange ("Venture") which was put on hold in April 2011 as the Company worked to improve its financial position to qualify for the new listing.

Diaz has re-activated its application to have its common shares listed on the Venture and will apply to voluntarily delist from TSX upon acceptance of its listing on the Venture. Listing of the Corporation's common shares on the Venture will be dependent on the Corporation satisfying the minimum listing requirements of the Venture and such other conditions to listing it may require.

About Diaz

Diaz is an oil and gas exploration and production company based in Calgary, Alberta. Diaz's current focus is on oil development and exploration in Alberta and Saskatchewan.

ADVISORY: This press release contains forward looking statements. More particularly, this press release contains statements concerning the Company's listing of its common shares on the TSX and an application to list its common shares for trading on the TSX Venture Exchange. Although Diaz believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Diaz can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.

The forward looking statements contained in this press release are made as of the date hereof and Diaz undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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