Dia Bras Doubles Capacity Planned for its New Mill at the Bolivar Property and Provides Update on Construction Progress

MONTREAL, QUEBEC -- (Marketwire) -- 11/02/10 -- Dia Bras Exploration Inc. (TSX VENTURE: DIB) (the 'Company') is pleased to report that construction of its new Piedras Verdes Mill at the Bolivar Property in Chihuahua, Mexico, is progressing on time and on budget for commissioning early in the second quarter of 2011. Of particular note is that due to its exploration and development results, the Company has seized the opportunity to purchase larger ball mills at essentially the same price as the smaller mills included in the original budget. The new mill has a design capacity of 1,000 tpd rather than the earlier-announced 500 tpd. Capex for the new mill remains unchanged at US$ 12.1 million.

'This increase in capacity of our new mill is an important step forward for Dia Bras', stated Daniel Tellechea, President and CEO. 'Our operational staff has searched diligently for the best value-for-price as we purchased components for the mill. The results of our exploration activities, which have utilized state-of-the-art geophysical surveys followed by drilling and underground development, mean that a larger mill is required. This doubling of capacity will have a very positive effect on our production, yet is accomplished for basically the same capital expenditure. The construction of the Piedras Verdes Mill at the Bolivar Property is an important milestone for the Bolivar mining district, because Dia Bras has been in pilot-mining mode since 2005, transporting high-grade copper-zinc-silver rock for 270 kilometres to be processed at its Malpaso Mill. The reduction in transportation costs and increased capacity should add value to Dia Bras and significantly increase its mine development potential.'

The new Piedras Verdes Mill will process mineralized rock mined from the Bolivar Mine, La Increible mine and El Gallo mine. The latter two mines are being developed so that they will begin operations at the same time the Piedras Verdes Mill is commissioned.

Several aspects of the construction are notable:

- The Piedras Verdes Mill is being constructed by Dia Bras' 100%-owned Mexican subsidiary, EXMIN, S.A. de C.V.

- The milling site has been terraced and leveled in preparation for installation of two Dominion 9'6' x 14' ball mills. These were acquired at about the same price as two ball mills that would have given the mill a capacity of only 500 tpd. They provide the milling capacity necessary to expand the mill further to a capacity of 2,000 tpd.

- The site for the fine ore bins has been terraced and leveled, and is 90% complete. http://www.diabras.com/files/media/ce38a_PV%20Mill%20-%20Ore%20Bins%20site%2022%20Oct%202010.png Terraced site for the fine ore bins

- Flotation cells, pumps, motors, agitator mechanisms, etc. necessary for the initial 1,000 tpd operation have been acquired. http://www.diabras.com/files/media/9ce48_PV%20Mill%20-%20Flotation%20Cells.png Flotation cells

- The foundations have been completed for the copper and zinc concentrate thickeners and storage facilities, and construction of these is underway. http://www.diabras.com/files/media/439b8_PV%20Mill%20-%20Concentrate%20Patios%20and%20Thickener%20Tanks%2022%20Oct%202010.png View of concentrates patios (foreground) with zinc and copper thickener tanks in background

- The crushing and screening site has been terraced and leveled. The following equipment has been acquired for this site: a Cedar Rapids 25' X 40' jaw crusher, a Sandvick 6800 cone crusher, and a Terex Simplicity 6' X 16' double-deck screen.http://www.diabras.com/files/media/9f158_PV%20Mill%20-%20Cedar%20Rapids%20Jaw%20Crusher.png Cedar Rapids 25' X 40' jaw crusher http://www.diabras.com/files/media/10c35_PV%20Mill%20-%20Sandvick%206800%20Cone%20Crusher.png Sandvick 6800 cone crusher

- The tailings dam is being prepared and construction of the dam itself will begin at the beginning of 2011.

- Construction of the water reservoir, located only two kilometres from the mill site and with a design capacity of 1.5 million m(3), is well underway and is expected to be completed in early 2011. http://www.diabras.com/files/media/90245_PV%20Dam%20Construction%2022%20Oct%202010.png Piedras Verdes Water Reservoir under construction

- Electrical power lines have been connected to the regional power grid and provide 34,000 volts, which is necessary for this phase of construction.

- Retaining walls covering 2,160 m(3) have been constructed along the site's access roads.

- An ore stockpile pad covering 500 m(3) has been completed.

- The construction crew totals 125 personnel, of which 12 are supervision and administration, and another 12 are support personnel such as cooks, cleaners, etc. An important aspect of this crew is that 95% of them are local residents, most living within 20 km of the mill site. The mill construction has given a significant boost to employment of the local residents.

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'.

For further information on Dia Bras Exploration Inc. visit www.diabras.com

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.

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