Dia Bras Raises $7,045,545 in Exercise of Warrants
TORONTO, ONTARIO -- (Marketwire) -- 01/12/11 -- Dia Bras Exploration Inc. (TSX VENTURE: DIB) ('Dia Bras' or the 'Company') is pleased to report that all of its outstanding 10,006,493 warrants with an exercise price of $0.70 and an expiry date of January 10, 2011, were exercised, bringing an additional $7,004,545 of proceeds to the Company. These funds add to the significant cash on hand the Company had at the end of the third quarter of 2010, as previously announced in the Dia Bras news releases of November 30 and December 2, 2010. The total proceeds generated from the exercise of warrants during the fourth quarter of 2010 and through January 10, 2011, was $ 12,004,545. As a result, the Company currently has $22,304,073 cash on its balance sheet.
'This is another important milestone completed for the Company because at our wholly owned Bolivar Property we are nearing completion of the new Piedras Verdes Mill, which is on budget and on schedule,' stated Daniel Tellechea, President and CEO. 'Dia Bras now has additional working capital to dedicate to further development at our Bolivar Project and at our wholly owned Cusi Property and to continue exploration at numerous precious metals targets in our current project portfolio.'
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