Dia Bras Announces Proposed Consolidation of Outstanding Common Shares and Increase in Maximum Number of Shares Reserved Under Stock Option Plan

MONTREAL, QUEBEC -- (Marketwire) -- 08/16/10 -- Dia Bras Exploration Inc. ('Dia Bras') (the 'Company') (TSX VENTURE: DIB) announces that it will be seeking approval by its shareholders of a special resolution authorizing the consolidation of all of the Company's issued and outstanding common shares (each, a 'Common Share') on the basis of a ratio of not more than one (1) post-consolidation Common Share for a maximum of seven (7) pre-consolidation Common Shares (the 'Consolidation'), with the Consolidation to be implemented by the Board of Directors of the Company (the 'Board') at any time prior to December 31, 2010.

The shareholders will be asked to approve the proposed Consolidation at a special meeting of the shareholders to be held in Montreal, Quebec, on September 14, 2010. The proposed Consolidation remains subject to receipt of all necessary regulatory approvals, including shareholder approval and acceptance of TSX Venture Exchange.

Upon completion of the proposed Consolidation at the maximum authorized ratio of 1:7, the number of Common Shares issued and outstanding would be reduced from 491,438,086 as of August 9, 2010, to 70,205,440.

The Company believes that the number of the currently outstanding Common Shares may no longer reflect the value of the assets of the Company. The Company's future performance is largely tied to the Company's ability to raise equity financings, without excessively diluting the interests of its current shareholders. The proposed Consolidation will enable potential investors to better evaluate the Company in connection with future equity financings of the Company. The proposed Ratio will help Directors to mitigate potential dilution, depending on the circumstances under which the Consolidation is implemented.

The Consolidation should also allow institutional shareholders to hold Dia Bras shares in their portfolios and to reduce the trading execution costs for shareholders.

If the proposed Consolidation is approved by the shareholders, it will be implemented only upon a determination by the Board that the Consolidation is in the best interests of the Company and its shareholders at that time. The name of the Company will not be changed following the Consolidation.

Stock Option Plan

The Company also announces that the Board has approved, subject to regulatory approvals, an increase in the number of Common Shares reserved under the Company's fixed number stock option plan (the 'Plan') from 13,600,000 to 21,600,000. The number of Common Shares reserved under the Plan represents 4.4% of the total number of Common Shares currently issued and outstanding.

Resignation of Director

Mr. Robert Hirsh has resigned from the Board of Directors of Dia Bras to pursue other interests. The Board would like to thank Robert for his many years of dedicated service to Dia Bras and wishes him success in his pursuits.

About Dia Bras

Dia Bras is a Canadian exploration mining company focused on precious and base metals in the State of Chihuahua and other areas of Northern Mexico. The Company is committed to developing and adding value to its assets - the Bolivar Property, the Cusi Property and its advanced stage exploration projects. The Company's common shares trade on the TSX Venture 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 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.

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 release.

Contacts:

Dia Bras Exploration Inc.

Daniel Tellechea

President & CEO

1-866-493-9646


Dia Bras Exploration Inc.

Karl Boltz

Vice-President, Corporate Development

1-866-493-9646