Dia Bras Exploration Inc. ) is pleased to announce that it has signed an option agreement to acquire 100% of the La Enganosa property in the State of Jalisco (the “Property”) from Mr. Castaneda, a Mexican citizen and Cominlat, a Mexican mining corporation, (Mr. Castenada and Cominlat are collectively referred to herein as the “Optionors”).  The Property covers 375 hectares, and has been the object of geological mapping, geochemical sampling and limited drilling. Dia Bras will promptly initiate a drilling program to assess the full potential of the property.

The transactions
Pursuant to the option agreement the Company may acquire a 100% interest in the Property and has and the exclusive rights to explore and develop the Property over the next three years in consideration for: (i) a commitment by the Company to incur minimum exploration expenditures of US$300,000 per year; and (ii) total cash payments of US$1,265,000 payable to the Optionors as follows:

1. US$65,000 at the signature of the agreement;  
2. US$75,000 within 6 months of the signature date;
3. US$75,000 on the date that is 12 months after the signature date;
4. US$150,000 on the date that is 18 months after the signature date;
5. US$200,000 on the date that is 24 months after the signature date;
6. US$300,000 on the date that is 30 months after the signature date;
7. US$400,000 on the date that is 36 months after the signature date.

 

Starting with the payment due on the date that is 18 months after the signature date and the following payments, the Optionors will have the right, at their discretion to receive common shares of the Company in lieu of payments.  The number of shares will be determined on the basis the higher of: i) the closing price of the shares of the Company on the stock exchange on which it is then trading on the last business day prior to the date on which the payment is due; and $1.25.  The transaction is subject to regulatory approval.

The property is subject to a 2% NSR which can be repurchased for US$1.5 million at any time during a 6 year period following closing. The Company has agreed to pay minimum annual royalties of US$48,000 starting 5 years after the closing date.

“The optioning of the La Enganosa property by Dia Bras is a very important acquisition for Dia Bras at this point in time,” said Daniel Tellechea, President and CEO of Dia Bras. “We believe it will add significant value to our shareholders in the near future.”

 “The exploration group evaluated and recommended this property to the Board of Directors due to its excellent potential to hold a significant copper–silver ore body amenable to easy open pit mining,” said François Auclair, Vice-President Exploration of Dia Bras.

DESCRIPTON OF LA ENGANOSA PROPERTY

Localisation
The project is located in south central Mexico, 115 km southwest of Guadalajara. The “Mojonera” is at latitude 19.851902˚ N and longitude 104.045995˚ W. It can be accessed from Guadalajara by paved road to El Limon (208 km), then a gravel road to San Miguel de Hidalgo (10 km) and finally by a partly bad trail over  5 km.

Mineralization
The copper/silver mineralization is located in narrow quartz /calcite veins (mm-cm) bearing malachite/azurite/chalcocite. These veins are contained in the limestone and form conjugated fractures trending 15/70˚, 345/80˚, 290/70˚, 110/70˚, 260/60˚ and also in lithologic planes 150/20˚.
Two zones of mineralization have been roughly outlined and are located on both sides of the easterly trending hillcrest and appear to be related to the same lithologic unit. On the southern one, several samples by different companies have been taken on a 300*300 m area. Also 12 short DDH (total 671 m) have been done on 50*50 grids. Results of the different sampling programs averaged to 23 g/t Ag and 0.7% Cu reaching 303g/t Ag and 2.12% Cu.

Site Visit
In December 2007, Mr. Jacques Marchand, P. Eng. International consultant and Qualified Person (as defined in National Instrument 43-101) and Mr. Réjean Gosselin, Director of the Company, conducted a site visit of the property. During this site visit, 3 outcrop samples were collected to test the mineralized material, and the results are encouraging as shown below:

Historical Resources
Historical resources on the southern zone have been estimated by the owner to be around 1.3 million tonnes averaging 1.2% Cu and 51 g/t Ag in an ENE trending area of 300*100 m to a depth averaging 30 m. One section shows increased thickness to the SW while the other indicates an increase to the NE. The zone follows the stratigraphy and is still open to the West and to the NE. This resource estimate completed by the owner does not comply with the definitions and standards outlined in National Instrument 43-101, and the Company cautions that these historic resource estimates cannot be relied upon.

Recommended Exploration Program
Mr. Marchand, P. Eng. and QP, recommended a first phase exploration program that includes 3,000 metres of RC drilling and 1,000 metres of core diamond drilling to rapidly assess the potential of the property and verify the historical resources.

Method analysis
Chip rock samples were sent for analysis Dia Bras’s Malpaso lab facility, following the procedure outlined in Scott Wilson’s RPA 43-101 report of the Cusi property in December 2006.

The technical content of this news release has been approved by François Auclair, Vice-President, Exploration and Jacques Marchand, P. Eng. and Manager, Exploration of Dia Bras, a Qualified Person as defined in NI43-101.

About Dia Bras
Dia Bras is a Canadian mining and exploration company focused on precious and base metals in the Mexico. The Company is committed to developing and adding value to its assets – the Bolivar copper-zinc project, the Cusi silver mining camp in the renowned Sierra Madre mining district of Northern Mexico and La Enganosa copper-silver in the State of Jalisco. The Company trades on the TSX Venture Exchange under the symbol “DIB”.

For further information on Dia Bras contact:

Daniel Tellechea President & CEO Dia Bras Exploration (514) 393-8875

Thomas L. Robyn Executive Chairman Dia Bras Exploration (514) 393-8875

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 that 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.

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