DIOS EXPLORATION INC.
TSX VENTURE : DOS

DIOS EXPLORATION INC.

October 28, 2010 10:58 ET

DIOS Exploration: Shipshaw Area Mineral Claim Agreement

MONTREAL, QUEBEC--(Marketwire - Oct. 28, 2010) - DIOS EXPLORATION (TSX VENTURE:DOS) reports the closing of the SHIPSHAW AREA MINERAL CLAIM AGREEMENT.

Pursuant to an Option and Purchase Agreement between Exploration Diagold, the "Optionor", and DIOS, the Optionor granted DIOS the right to earn a balance of 25% interest in 12 original mining claims on which DIOS drilled a geophysical target and discovered the Shipshaw Carbonatite Complex, seven kilometers from Niobec niobium mine and ferro-niobium facilities owned by IAMGOLD, Saguenay, Quebec. In order to maintain the Option in good standing, DIOS shall:

  1. pay to the Optionor $50,000 upon signing; 

  2. issue to the Optionor 250,000 common shares of the Optionee on or before the fifth business day following regulatory approval; and

  3. issue to the Optionor a further 250,000 common shares of the Optionee on the date which is 24 months following the date of regulatory approval.

The Optionor shall be entitled to a royalty equal to a 1% royalty from production payable from the claims. DIOS may at any time purchase 50% of the Royalty Interest from the Optionor for $500,000 thereby leaving the Optionor with a 1% Royalty Interest. 

Advanced interpretation of a detailed helicopterborne geophysical survey completed by DIOS helped locate the sheeted horizons to be drilled within the Carbonatite Complex.

DIOS has 34.3 million shares outstanding and $ 3.5 million available for exploration. 

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.

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