Print text

BOLIVAR DRILLING RESULTS

Montréal, Québec, - August 24, 2004 -

Dia Bras Exploration Inc. (DIB-V) (Dia Bras or the "Company") is pleased to announce the results of the first hole drilled on the Bolivar property:

6.31% copper, over 30% zinc and 54.6 g/t silver over a width of 5 meters.

The drilling program was initiated subsequent to a commercial agreement reached with the owners of the property. The agreement provides for the acquisition by Dia Bras of 100% of the Bolivar property for a consideration of US$1.2 million payable over a three-year period.

Dia Bras currently has two drills testing this high grade mineralized zone on the property. To date, three holes have intersected mineralization and results are pending. The Company intends to drill 16,000 meters on the Bolivar property representing 110 holes: 6,000 meters will be drilled to delineate high grade zones and 10,000 meters to extend the known open pittable mineralized ore zones.

In addition to the ongoing Bolivar drilling program, the Company has set up a camp on the newly acquired Promontorio property (see press release dated July 21, 2004). A first drill equipment has been mobilized and a first phase of 7,000 meter drilling will begin this week. The objective of this first phase is to confirm high grade mineral resources and expend them at depth.

For further information contact:

Réjean Gosselin
President

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.