DIA BRAS PROVIDES ADDITIONAL DETAILS REGARDING PROPOSED ACQUISITION OF SOCIEDAD MINERA CORONA S.A. IN PERU

TORONTO, March 7 /CNW/ --
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TSX Venture Exchange - DIB

TORONTO, March 7 /CNW/ - Dia Bras Exploration Inc. (TSXV: DIB) ('Dia Bras' or the 'Company') is pleased to provide additional details
regarding its proposed acquisition (the 'Acquisition') of approximately
92% of the voting shares (representing approximately 82% of the total
equity) of Sociedad Minera Corona S.A. ('Corona') from a group of
shareholders (the 'Selling Shareholders'). 

Corona's shares trade on the Bolsa de Valores de Lima (the Lima Stock
Exchange).  The voting shares trade under the symbol 'MINCORC1' and the
investment shares trade under the symbol 'MINCORCI1'.  According to
public records and information provided by the Selling Shareholders,
there are currently 31,890,365 voting shares and 4,087,673 investment
shares outstanding.  Under applicable requirements in Peru, the
Acquisition will trigger a requirement for Dia Bras to make a follow-up
offer for at least 92% of the remaining voting shares (but not for the
non-voting investment shares) of Corona.  This will effectively
increase the total acquisition cost for 100% of the voting shares to
US$310.23 million.  This follow-up offer was contemplated by the
financing arrangements disclosed on March 4, 2011.

Dia Bras expects to issue a maximum of 27.5 million Dia Bras shares in
connection with the Acquisition (including the follow-up offer) and a
maximum of 58.4 million Dia Bras shares in connection with the private
placement of subscription receipts as described in the press release of
March 4, 2011.  However, the total number of Dia Bras shares expected
to be issued pursuant to both the Acquisition (including the follow-up
offer) and the private placement of subscription receipts is not
expected to exceed 58.4 million Dia Bras shares.

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).  Dia Bras is also 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 TSXV under the symbol 'DIB'.

The TSX Venture Exchange (the 'Exchange') does not accept responsibility
for the adequacy or accuracy for this release.  Completion of the
Acquisition is subject to a number of conditions, including but not
limited to, Exchange acceptance.  There can be no assurance that the
Acquisition will be completed as proposed or at all.

Forward-Looking Statements

This press release and other documents filed by the Company contain
'forward-looking information' within the meaning of applicable Canadian
securities legislation, which is also referred to as 'forward-looking
statements', which may not be based on historical fact.  Wherever
possible, words such as 'will', 'plans,' 'expects,' 'estimates,'
'anticipates,' 'believes,' 'intends,' 'may,' and similar expressions or
statements that certain actions, events or results 'may,' 'could,'
'would,' 'might' or 'will' be taken, occur or be achieved, have been
used to identify forward-looking information.  These forward-looking
statements include, without limitation, statements regarding the
execution of the Definitive Agreements and the completion of the
Offering and the Acquisition, future results of operations, performance
and achievements of the Company, including potential property
acquisitions, the timing, content, cost and results of proposed work
programs, the discovery and delineation of mineral
deposits/resources/reserves, geological interpretations, proposed
production rates, potential mineral recovery processes and rates,
business and financing plans, business trends and future operating
revenues.  Although the Company believes that such statements are
reasonable, it can give no assurance that such expectations will prove
to be correct. and other factors.  Such statements reflect the
Company's current views with respect to future events and are subject
to a number of risks and uncertainties.  Actual results may differ
materially from results contemplated by the forward-looking
statements.  Prospective investors and others should not place undue
reliance on such forward-looking statements, as they reflect the
Company's current views with respect to future events and are subject
to risks and uncertainties and are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by the
Company, are inherently subject to significant business, economic,
regulatory, competitive, political and social uncertainties and
contingencies.  Many factors could cause the Company's actual results,
performance or achievements to be materially different from any future
results, performance, or achievements that may be expressed or implied
by such forward-looking statements, including among others the failure
to execute the Definitive Agreements or to complete the Offering and/or
the Acquisition, variations in the nature, quality and quantity of any
mineral deposits that may be located, significant downward variations
in the market price of any minerals produced, the Company's inability
to obtain any necessary permits, consents or authorizations required
for its activities, to produce minerals from its properties
successfully or profitably, to continue its projected growth, to raise
the necessary capital or to be fully able to implement its business
strategies and the risks detailed from time-to-time in the Company's
quarterly filings, annual information forms, annual reports and annual
filings with securities regulators.  Forward-looking information will
be updated as required pursuant to the requirements of applicable
securities laws.

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For further information on Dia Bras visit www.diabras.com or contact: