MEXICAN PROPERTIES EXPLORATION UPDATE

Montréal, Québec, - June 30, 2004 -

Dia Bras Exploration Inc. (the “Company” or “Dia Bras”) announces that recent drilling on the Bolivar West zone has outlined a mineralized structure that has an average width of 100 metres and a thickness of 200 metres.  Drill holes 16, 17, 18, 20, 21, 23, 25 and 26 have all been drilled at the same location with varying angles and directions.  The drilling confirms economic open pit Cu-Zn mineralization with significant credits for Au and Ag (reference attached table).  Hole 26, drilled in a northern direction and hole 18 drilled in a southern direction, established a 70 metre width of mineralization at surface with grades exceeding 1% Cu, 1% Zn, 0.46 g Au, 13 g Ag.  The Bolivar West Zone is located 1 km NW of the Increible Zone which intersected 100 metres of 0.9% Cu and 1% Zn including 25 metres of 2% Cu and 2% Zn.

The major control structure on which the Bolivar West Zone and Increible Zone are located extends over 10 km within the Dia Bras property limits and is the host of the La Pequeña (3.84% Cu, 0.72% Zn, 237 g/t Ag) and La Montura (3.69% Cu, 7.8% Zn, 34 g/t Ag) zones which are located 1 km southeast from the Increible zone.  A drill is currently being mobilized on the Montura zone while two rigs are testing the extension of the Bolivar West zone.

In the next 2 weeks the company will be mobilizing a drill on the Promontorio project also located in the state of Chihuahua, which, according to a report by Mine development Associates (MDA) of Reno, Nevada, contains indicated resources of 625,000 tonnes grading 4.04% Cu, 2.61 g/t Au, 65.79 g/t Ag and inferred resources of 398,000 tonnes grading 3.87% Cu, 2.19 g/t Au and 59.16 g/t Ag for total resources of 1,023,000 tonnes.  The indicated resources established by MDA were based on 57 diamond drill holes (NQ and BQ core sizes).  Approximately 50% of the resources are amenable to open pit.

PIEDRAS VERDES


Zone

hole
#

From

To

Width
(m)

Au
(ppm)

Ag
(ppm)

Cu
(%)

Zn
(%)

Bolivar – West

16

19

41

22

-

12.47

0.35

1.60

77

85

8

2.63

44.26

0.65

-

103

110

7

0.26

30.94

0.26

1.62

18

6

50

44

0.46

48.16

1.14

1.15

63

69

6

0.73

-

0.73

0.37

20

13

44

31

0.03

7.92

0.23

2.03

21

9

28

19

0.07

10.52

0.32

2.63

43

45

2

-

5.20

0.23

1.29

23

3

31

28

0.11

13.61

0.423

2.33

25

3

19

16

0.08

13.6

0.23

1.92

52

55

3

0.93

37.6

0.81

-

26

13

39

26

0.470

13.14

1.10

1.35

65

69

4

1.390

3.07

0.46

-

99

117

18

1.010

17.12

1.03

-

129

144

15

-

-

0.29

-

160

168

8

0.516

-

0.50

-

210

228

18

1.140

-

0.83

-

243

245

2

0.550

-

0.21

-

 

Valenzuela - Increible

3
Including:
Including:

 

 

100

-

22

0.9

0.4

 

 

25

-

58

2.0

2.05

 

 

9

-

144

4.91

5.38

12

 

 

49

-

17.4

1.07

0.77

La Montura

Channel samples

 

 

6

-

34

3.69

7.80

La Pequeña

Channel samples

 

 

6

-

237

3.84

0.72


PROMONTORIO

Hole #

From

To

mts

Au
(ppm)

Ag
(ppm)

Cu
(%)

95-03

-

-

25

6.17

105

7.33

96-01

-

-

16.75

3.43

133

7.98

96-36

-

-

10.4

n/a

6.9

9.43


-30-

For further information contact:

Réjean Gosselin
President

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