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DIA BRAS CLOSES $10.5 MILLION BOUGHT DEAL FINANCING

Montréal, Québec - August 17, 2006 -

Dia Bras Exploration Inc. (("Dia Bras" and or the "Company") is pleased to announce that, it has closed it previously announced offering on a bought deal basis of 13,000,000 common shares at a price of $0.70 per common share, for gross proceeds of $9,100,000. The underwriters for the offering also exercised their over-allotment option pursuant to which the underwriters purchased an additional 1,950,000 common shares of $0.70 per common share for additional gross proceeds of $1,365,000, raising the total gross proceeds of the offering to $10,465,000. The offering was underwritten by a syndicate led by Dundee Securities Corporation and including Paradigm Capital Inc. and Desjardins Securities Inc.

The net proceeds of the offering will be used to fund the acquisition by Dia Bras of Cusi properties, additional exploration work on Bolivar (including an updated 43-101 Technical Report, a scoping study and pre-feasability study), the preparation of 43-101 Technical Report on the Cusi properties, preliminary work on the Cusi properties and for general working capital.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Dia Bras
Dia Bras is a Canadian exploration mining company focused on precious and base metals in the State of Chihuahua, in northern Mexico. The Company is committed to developing and adding value to its assets - the Bolivar copper-zinc project and the newly acquired Cusi silver mining camp. The Company trades on the TSX Venture Exchange, under the symbol "DIB".

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For further information contact:

Thomas L. Robyn
Executive Chairman
(514) 393-8875 ext. 241

or

Nicole Blanchard
Managing Partner
Sun International Communications
(450) 627-6600


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

Forward-looking statements: Except for statements of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.