CLOSING OF $9 MILLION FINANCING

Montréal, Québec, - November 23, 2004 -

Dia Bras Exploration Inc. (DIB-V) (Dia Bras or the "Company") announces the closing of private placements for a total consideration of $9,001,551. The Company issued 12,002,068 units at $0.75 per unit. Each unit is composed of one common share and one purchase warrant. Each warrant entitles the holder thereof to subscribe to one common share of the Company at a price of $0.90 for a period of two years. The common shares and warrants issued pursuant to these private placements are subject to a hold period of four months from the closing date. The Company paid finders’ fees totaling $568,103 to an arm’s length party. After taking into consideration these private placements, the Company has 50,482,477 common shares issued and outstanding.

Following these private placements, the Company has raised $21 million since August 2003 for its Mexican projects and working capital.

About Dia Bras
Dia Bras is a Canadian mining exploration company focused on precious and base metals in the State of Chihuahua, Mexico. The Company will continue exploration and the active development of its two key projects – Bolivar and Promontorio – located in the Sierra Madre precious metal belt. The Company is traded on TSX Venture Exchange, under the symbol “DIB”.

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For further information contact:

Réjean Gosselin
President

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