Dia Bras Reports Drilling Results From La Cascada Gold Target at Bolivar Property

TORONTO, ONTARIO -- (Marketwire) -- 12/31/10 -- Dia Bras Exploration Inc. (TSX VENTURE: DIB) ('Dia Bras' or the 'Company') is pleased to report that drilling continues at its La Cascada target, which is a high-sulphidation gold system at its wholly owned Bolivar Property in southwestern Chihuahua State, Mexico. Drilling is targeted on near-surface, coincident strong chargeability (IP) and resistivity zones detected during Titan 24 survey contracted to Quantec Geoscience of Toronto, Ontario, which was conducted during August 2010. Only three survey lines could be completed in this area of rugged terrain: a 1,000-m-long N-S line and two E-W lines (800 and 900 m), which resulted in detection of three significant anomalies - all of which are associated with anomalous grades of gold in outcrop (see press release of August 25, 2010). La Cascada is the eastern-most area of a gold anomalous zone that trends NE-SW through La Sidra to Reyna de Oro http://www.diabras.com/files/media/b6973_Chihuahua%20Regional%20Projects%20and%20Mines%20on%2028%20Dec%202010.pdf and beyond, a distance of over 8 km. An extensive drilling program is planned for this trend, and the five holes completed to date are a small part of the planned number of holes, which, over the next 12 months, will total at least 30 holes and approximately 15,000 m.

'Our initial drilling at La Cascada illustrates the large size of the alteration system,' stated Daniel Tellechea, President & CEO of Dia Bras. 'Drilling of the southern-most IP anomaly on Cascada ridge revealed an extensive area of argillic and silicic alteration intimately associated with large amounts of pyrite and other sulfide minerals. We have only drilled one of the three strong geophysical anomalies that were detected along the 1,000 m line on Cascada ridge, by drilling five deep holes. Gold and copper contents are very anomalous, and we are encouraged by the results. More areas to the west remain to be drilled, especially the La Sidra zone that lies 1500 metres west of Cascada ridge.'

The first drill target was the southern-most geophysical anomaly http://www.diabras.com/files/media/89186_La%20Cascada%20Exploration%20Model.pdf, which required constructing a drill access road 2.2 km long on the top of Cascada ridge because of its very steep sides and limited locations for drill sites. The geophysical survey covered less than 10% of the La Cascada-La Sidra area http://www.diabras.com/files/media/dfd56_La%20Cascada%20LA%20Sidra%20Interpretive%20cross%20section%2030%20Dec%202010.JPG which is known to host strong gold anomalies, with samples assaying up to 15 g/t gold in the La Sidra area. Five holes totaling 2,555.1 metres were drilled at the first site, and all encountered extensive argillization, silicification and pyritization of the host andesite and quartz-eye granodioritic dikes to the limits of the holes, which ranged up to 600 m in length.

Complete assay results have been received for the first three holes, DCA10B001-003 http://www.diabras.com/files/media/96ae8_La%20Cascada%20Updated_Samples_Database%20Validated.pdf, while partial results are available for DCA10B004 http://www.diabras.com/files/media/fab86_La%20Cascada%20Updated_Samples_Database%20Pending.pdf. Results are pending for DCA10B005 and hole 6 is in progress on the central geophysical anomaly.

The assay results indicate that the southern anomaly is very anomalous in gold, silver and base metals with gold grades in holes 1-3 ranging up to 2.79 g/t, silver to 128 g/t, copper to 1.57%, lead to 0.95%, zinc to 1.70% and arsenic to 2,050 ppm. Drill hole DCA10B004 has results ranging up to 4.49 g/t gold, silver to 45.5 g/t, copper to 0.99%, lead to 0.08% and zinc to 1.98%; results for arsenic are pending. These are not typical results but illustrate the anomalous nature of the area drilled. These data indicate that the Cascada ridge may be too close to the intrusive system and drilling will continue to test this large altered area, especially to the southwest in the La Sidra area where the company is constructing a 3.5 km long access road in preparation of drilling in the first quarter of 2011.

The numerous granodioritic dikes encountered in the holes indicate the presence of an intrusion at depth, which is encouraging for the presence of high-sulphidation gold deposits in the Cascada area.

The La Cascada mineralization has characteristics similar to several multi-million ounce high-sulfidation gold deposits, such as the gold association with structurally controlled, vuggy-silica zones, the style of alteration zonation, association with copper and arsenic, presence of pyrophyllite, etc. La Cascada is notably similar to the El Sauzal deposit, which is located less than 20 km to the southeast and is on the same regional, NNW-trending major structural zone. La Cascada is near the Company's existing infrastructure, only 2 km south of its Cieneguita camp, and lies within the prolific Sierra Madre Occidental gold-silver belt of northwestern Mexico that hosts several multi-million ounce gold deposits.

Method of Analysis

Samples were prepared at the ALS Chemex lab facility in Chihuahua, Mexico, and analyzed by ICP and AA methods at their facilities in Vancouver, Canada. Diamond drill samples sent for analysis consisted of half NQ-size and BQ-size diamond core split on site, prepared by the ALS Chemex sample preparation laboratory in Chihuahua, Mexico, and assayed for Au by 50 g fire assay with AA finish, and for Ag by AA on 50 g split sample at the ALS Chemex North Vancouver Laboratory. Assays for Pb, Zn and Cu are processed by Induction Coupled Plasma (ICP) at ALS Chemex.

Quality Control

The quality assurance-quality control (QA-QC) of Dia Bras has been described in detail in both RPA's NI 43-101 reports of December, 2006, at Cusi and October, 2005, for Bolivar.

The technical content of this news release has been approved by Thomas L. Robyn, Ph.D., CPG, RPG, a Director of Dia Bras, a Qualified Person as defined in NI 43-101.

About Dia Bras

Dia Bras is a Canadian exploration mining company focused on precious and base metals in Chihuahua State and other areas of northern Mexico. The Company is pursuing the development and exploration of its most advanced assets - the Bolivar Property (copper-zinc-silver) and the Cusi Property (silver) and is exploring several precious metal targets such as La Cascada project at the Bolivar Property, the Las Coloradas project at Melchor Ocampo (Zacatecas State), the Bacerac Property (Sonora State) and the La Verde project at the Batopilas Property (Chihuahua State).

The Company's shares trade on the TSX Venture Exchange under the symbol 'DIB'.

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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contacts:

Dia Bras Exploration Inc.

Daniel Tellechea

President & CEO

1-866-493-9646


Dia Bras Exploration Inc.

Karl J. Boltz

Vice President, Corporate Development

1-866-493-9646
www.diabras.com