April 07, 2006 13:47 ET

Dios: Positive Diamond Exploration Results on Pontax

MONTREAL, QUEBEC--(CCNMatthews - April 7, 2006) - DIOS EXPLORATION INC. (DOS) reports positive diamond exploration results on part of the large PONTAX property, James Bay, QC, 350 kilometres north of Matagami along the paved road going to Radisson. The discovery of high-quality Kimberlite Indicators Mineral (KIM) including high chromium/ low calcium G10 pyrope (over 10% Cr2O3, less than 3% CaO), picroilmenite, clinopyroxenes (kosmochlor) and kimberlitic olivine fully warrants to pursue diamond exploration on part the PONTAX project. The KIM are not distributed all over the property, as if it was the case for a background, for instance, but they occur in a specific part of the property. Most of the observed KIM occur within well-defined glacial dispersal trains with distinctive geochemical signatures. One is characterized and also defined by its anomalous gold-tungsten-gahnite contents, and the other one contains anomalous mercury-arsenic-antimony.

This property is held in partnership with Sirios Resources on a 50-50 basis. It is located up-ice and adjacent to a large land position held by De Beers Canada Inc. covering over 3,000 sq. kilometres.

The PONTAX property contains significant gold glacial dispersal trains uncovered under the till sampling program. The PONTAX property is also located 75 kilometres southwest of the Eleonore gold discovery of Virginia Gold Mines Inc. As reported last January, on a total of 146 samples assayed, 37 (26 per cent) heavy mineral concentrates graded more than 10 parts per billion in gold including 19 (13 per cent) grading more than 100 parts per billion, with a maximum value of 820 parts per billion. Several gold anomalies are grouped and up-ice of lake sediment gold anomalies up to 43 parts per billion gold. In a regional context, such results, are qualified as very encouraging. The study of the glacial dispersion, and the till content is continuing and suggests a proximal source.

Following the significant gold results, Sirios Resources wishes to keep its interest in the whole property for gold exploration whereas DIOS wishes to pursue diamond exploration on part of the property. The microprobe work was completed on March 27, 2006 giving results with the specific chemical composition of the indicator minerals indicating diamond window chemistry and suggesting diamond potential content for a kimberlite. The till sampling program was completed during the 2005 summer by IOS Services Geoscientifiques Inc. (IOS) of Chicoutimi and supervised by Patrice Villeneuve, Geo, qualified person under the National Instrument 43-101. Inductively coupled plasma mass spectrometry (ICP-MS) assays were performed in ALS Chemex laboratories, Val d'Or, QC.

Under the agreement with Sirios as released on June 8, 2005, the processing for kimberlite indicator minerals (diamond) was paid by DIOS, while the cost incurred for gold and base metals assays was paid by Sirios. Depending on the results, if the project was to focus specifically on gold, Sirios had the option to buy back DIOS' share, by repaying in cash or shares (acquisition and exploration costs at book value) and vice versa, and DIOS was to keep a 1% NSR on the claims transferred back to Sirios.

DIOS officially advised Sirios on April 3, 2006 of its intent to transfer back to Sirios part of the property for a book value of $70,211 and a 1% NSR that can be bought back for $1,000,000. DIOS wishes to keep its interest in 299 claims in the original 917 claim property. Sirios will issue 206,500 Common Shares of Sirios Resources at $0.34, subject to the Boards' and regulatory approval.

The TSX-V Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this, release.

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