DIOS Exploration: Shipshaw Carbonatite Exploration Campaign

MONTREAL, QUEBEC--(Marketwire - May 3, 2011) - DIOS EXPLORATION (TSX VENTURE:DOS) approved a major exploration budget of some one million dollars planned for this year on its wholly-owned niobium and rare earths Shipshaw Carbonatite Complex, a few kilometers away from the Niobec mine in operation for over thirthy years within the Saint-Honoré Carbonatite Complex.

A 20 hole drill program was recently completed by DIOS this spring and a last hole for this first definition phase had to be delayed due to the spring break-up, but should be undertaken in 4-6 weeks. A total of 4,340 meters of core was recovered in order to better assess the niobium (and rare earths) potential of the carbonatite complex to a depth of 125-150 m through systematic drilling of the magnetic intrusive rims surrounding the rare-earth enriched carbonatite core (initial discovery). The fifty degree dipping holes measure from 175 to 250-275 m. The Niobec mine is located 300 feet (90 m) at vertical depth from surface, covered by 240 feet of Trenton limestone, and developments now reach 2,400 feet.

DIOS' drilling intercepted the carbonatite complex in all holes consisting of heterogeneous material. Detailed core logging of various alternating complex layers was completed last Thursday and the core should all be splitted in two and sent for assaying in the coming days. Pending results, drilling at depth could be considered.

The 2011 summer-fall program should include, in addition to the delayed hole planned once ground is dry: additional magnetic airborne survey on DIOS claims located in the NE rims of the carbonatite complex as well as on the NW anomaly; -systematic diamond-drilling (20-30 holes for 4,000 m) of other magnetic rim targets (7-9) defined by geophysics on DIOS' 276 claims surrounding the Niobec mine; - additional mapping-prospecting along streams, rivers and various geophysical targets. A carbonatite outcrop was surprisingly discovered last fall on the property, showing different episodes of carbonatite intrusives

DIOS' exploration work is about at the same stage it was at Niobec, a few months after discovery of the Saint-Honoré Carbonatite, which was discovered around 1967, a discovery initially made from its (rare-earth carbonatite) core system near surface, and later with the following drilling over 3-4 years was discovered the niobium zone and later the development of economic zones brought the mine into production around 1976. Ferro-niobium milling facilities were built over 15 years ago. Niobium is used in the making of specific alloys used in the aerospace industry, for instance. Ferro-niobium is an added value product more directly in demand than niobium.

DIOS has a 3.2 M$ working capital and some 38.4 million shares and no warrants outstanding. This press release was prepared by M.-J. Girard, 43-101 QP.