DRILLING TO COMMENCE ON SAN JOSE SILVER PROPERTY

Montréal, Québec, - March 31, 2004 -

Dia Bras Exploration Inc. (the “Company” or “Dia Bras”) announces that it has received results from the detailed geological mapping performed on the San Jose property. Recent sampling from the main structure returned values up to 21 g/t Au; 1390 g/t Ag; and 6.16% Pb.

The San Jose property covers 462 hectares where five 300-metre long veins varying in thickness from 1.0 to 4.0 metres are identified. Assays on selected samples reached 6.35 g/t Au; 5215 g/t Ag; 1.33% Cu; 2.39% Zn; and 30.8% Pb. (January 26, 2004 press release). All roads and drill sites are now completed and the 4000-metre drilling campaign will start next week using a third drill now on site and a fourth drill starting mid-April. Montex Inc. will finance this campaign in accordance with the San Jose Joint Venture Agreement (“Montex Joint Venture”) (January 22, 2004 press release) in order to earn a 49% interest in the property.

On the newly acquired El Oro property, also under a Joint Venture Agreement with Montex Inc., that covers the northwest extension of the Val/Valenzuela property, new results from preliminary mapping revealed, more than 2 km from the existing Cu-Zn-Ag mineralized structures, values ranging from 2.82% to 6.38% Cu and 323g/t to 702 g/t Ag.

The Company also received results of holes #6 and #7. Hole #6 testing a new zone of interest located 900 metres northwest of hole #3 (9 metres of 144 g/t Ag; 4.91% Cu and 5.38% Zn – See February 9, 2004 press release) intersected 17 metres of 1.97% Zn and 22.6 g/t Ag between 27 and 43 metres as well as a section of 4 metres of 1.02% Cu between 37 and 41 metres. Hole #6 also revealed another mineralized section of 4 metres between 18 and 22 metres carrying 0.55 g/t Au and 29.9 g/t Ag. Two additional holes are planned in the vicinity of hole #6 to better define this new mineralized zone. Hole #7, some 95 metres to the northeast of hole #3, returned 5 metres of 1.8% Cu and 12 g/t Ag at a depth of 35 metres. Drilling is continuing with two rigs on the Val/Valenzuela Cu-Zn-Ag mineralized structures.


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For further information contact:

Réjean Gosselin
President

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