Dia Bras Reports More Silver Drill Results and Its Mine Ramp Extension Reaches Silver Disseminated Zone at Its Promontorio Mine, Cusi Property

• Extension of the ramp at Promontorio began during July, 2012 and the ramp has been advanced about 180 m since work began.  The disseminated zone was encountered in mid-October and sampling of development muck indicates that the outer portion of the disseminated zone has been penetrated. 
• Geologic mapping at 1:5,000 scale has been completed over an area of 20 square kilometres, which covers the area from north of San Juan mine to south of the La India mine.  In addition, an area of 700 x 700 meters focused on the Promontorio mine area has been mapped at 1:1,000 scale. 
• Five areas of potential open-pitable mineralization have been identified as a result of the new mapping.
• Advanced development in portions of Promontorio and Santa Eduwiges mines is steadily producing more tonnage, with development rock being sent to the Malpaso mill and processed.

"Promontorio is contributing more and more tonnage to our pilot mining, as evidenced by the steady increase in production from zero in March to 1,353 tonnes being shipped to Malpaso during October." stated Daniel Tellechea, President and CEO of Dia Bras Exploration.  "As the ramp is extended to deeper levels more tonnage can be produced.  This will have a very positive effect on our ability to conduct our advanced development activities and move to commercial production after completion of our 43-101 report in early 2013."

DRILLING
During the period August-October, 2012, the Company drilled a total of 12,057 meters at the Cusi project.  A total of 10,774 m was drilled from the surface and 1,283 m underground.  For the period January-October, 2012, the Company has drilled a total of 31,366 m; 29,269 m from the surface and 2,066 m underground.

Assay results have been received for holes drilled during August and September, and significant results, those above the current cut-off grade of 100 g/t Ag, are shown in the tables below.  The full list of assays can be found at http://files.newswire.ca/1055/DiaBrasTableEnhanced.pdf.  A drill hole location map can be found at http://files.newswire.ca/1055/DiaBrasDrillHoleLoc.pdf.

Promontorio Mine

* All holes have prefix DC12; prefix B = surface holes, M = underground holes
+ Cuerpo Oriente, formerly Veta del Contacto
nr = not reported

Santa Eduwiges Mine

* All holes have prefix DC12; prefix B = surface holes, M = underground holes

MINE DEVELOPMENT

During the period August-October, 2012, the Malpaso mill processed 14,458 tonnes of development rock averaging 192 g/t silver and 0.59% lead.  During this period, 2,877 tonnes of development rock was shipped from the Promontorio mine and 8,620 tonnes from Santa Eduwiges mine.

Mine development continued in both the Santa Eduwiges and Promontorio mines, as described below:

Promontorio

Development continued on Levels 2, 4, 5 and 9, and the ramp reached Level 5 and is being extended to Level 6.  On Level 5, the ramp encountered the outer zone of the disseminated zone, cutting through silicified rhyodacite with a pale green tint (probably fine-grained sericite) that contains very fine-grained sulfides, pyrite and a black sulfide mineral.  The rock assayed at 25 g/t Ag, which is anomalous and indicates the ramp is on the fringe of the main disseminated zone.

Santa Eduwiges

Development of the Mexicana and San Bartolo veins continued on Levels 3, 7, 8.5, 10 and 11.  Stoping of the veins was done from Levels 7, 7.5 and 8.5.  Cross-cuts were developed on Level 10 and drifting was done along the Mexicana vein to intersect the Carta Blanca vein. The ramp was developed from Level 10 to Level 11 on the Mexicana vein.

GEOLOGIC MAPPING:

Detailed geologic mapping of the core Cusi area (San Juan to La India) has been completed at 1:5,000 scale and the main Promontorio area has been mapped at 1:1,000 scale.  Mapping shows five areas of interest, based on surface alteration, for open-pitable targets (http://files.newswire.ca/1055/Cusi(5000).pdf).  Listed in order of priority, the areas are: 1) Promontorio-Promontorio Viejo; 2) Nueva Santa Marina; 3) San Bartolo; 4) La India; and, 5) San Ignacio.  These areas occur where veins splay and flex, and are of moderate size, ranging in length from 200 to 400 m and widths of 80-200 m.  Rock chip sampling along lines across the widths of the Promontorio-Promontorio Viejo area is in progress, and the other areas will be sampled in order of priority.

The area of interest is underlain by Tertiary rhyodacite exhibiting various levels of alteration and veining.  Major veins have been traced over distances up to 3 km and there are three major directions of veining: NW, NE and N-S.  Veining and fracturing are more intense closer to the Cusi fault, such as the disseminated zone at the Promontorio mine.

Quality Control

The quality assurance-quality control (QA-QC) of Dia Bras has been described in detail in RPA's NI 43-101 report of December 2006 at Cusi.

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

About Dia Bras

Dia Bras is a Canadian and Peruvian listed (TSX-V: DIB, BVL: DIB) exploration and mining company focused on precious and base metals in Chihuahua State, other areas of northern Mexico, and most recently at its Yauricocha silver-lead-zinc-copper-gold mine in Peru. The Company is accelerating exploration at the Yauricocha property as well as pursuing the development and exploration of its most advanced Mexican assets - the Bolivar Property (copper-zinc-silver) and the Cusi Property (silver-lead) and is exploring in Mexico several precious metal targets such as La Sidra gold project at the Bolivar Property, Las Coloradas silver project at Melchor Ocampo (Zacatecas State), the Bacerac silver project (Sonora State), and the La Verde gold project at the Batopilas Property (Chihuahua State). Dia Bras is also exploring base metal projects in Mexico such as the Corralitos intrusion-hosted molybdenum deposit.

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

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.

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.

Complete list of assays for this press release:

Promontorio Mine

* All holes have prefix DC12; prefix B = surface holes, M = underground holes
+ Cuerpo Oriente, formerly Veta dell Contacto
nr = not reported

Santa Eduwiges Mine

* All holes have prefix DC12; prefix B = surface holes, M = underground holes

SOURCE Dia Bras Exploration Inc.

PDF available at: http://stream1.newswire.ca/media/2012/11/29/20121129_C4618_DOC_EN_21340.pdf

PDF available at: http://stream1.newswire.ca/media/2012/11/29/20121129_C4618_DOC_EN_21341.pdf

PDF available at: http://stream1.newswire.ca/media/2012/11/29/20121129_C4618_DOC_EN_21370.pdf