Dia Bras Provides Third Update on Construction Progress at its Piedras Verdes Mill, Bolivar Property

TORONTO, ONTARIO -- (Marketwire) -- 05/11/11 -- Dia Bras Exploration Inc. (TSX VENTURE: DIB) ('Dia Bras' or the 'Company') is pleased to report that construction of its new, 1,000 tpd Piedras Verdes Mill at the Bolivar Property in Chihuahua, Mexico, continues to progress on time and under budget. The new mill is 80% complete and commissioning is expected in late June 2011.

'We eagerly await commissioning our new Piedras Verdes Mill,' stated Daniel Tellechea, President and CEO. 'Our operational staff has worked diligently to keep the construction of the new mill and water reservoir on schedule and on budget. Operation of the Piedras Verdes Mill will significantly reduce the cash cost of production, as well as increase the life of the mine, as we will be able to mine lower grade material.'

Piedras Verdes Mill

The new Piedras Verdes Mill will process mineralized rock mined from the Bolivar (Alta Ley), Increible, Narizona and El Gallo mines. The latter three mines are being developed so that they will begin production at the same time the Piedras Verdes Mill is commissioned. The Company expects that total operating costs will be decreased significantly, as a result of higher mining and milling rates and the greatly reduced transportation costs for shipping of ore.

The Company is installing the first of two Dominion 9'6' x 14' ball mills, which arrived at the plant site on April 18. This single ball mill will process rock at an initial capacity of 500 tpd but will be ramped up to 1,000 tpd by year's end. The second ball mill will be installed during October 2011 and will raise the mill's capacity to about 2,000 tpd in 2012. Other equipment continues to arrive, such as flotation cells, pumps and other ancillary equipment.

--  Transportation of the ball mill required two days of transportation from
    the Company's Malpaso Mill, due to its size relative to the access
    roads, as shown below and in the attached photo
    http://www.diabras.com/files/media/6f7a2_Cerocahui%20Tunnel.png.

--  Construction of the flotation circuits is well advanced, as shown below
    and in the attached photo
    http://www.diabras.com/files/media/02e7a_Flotation%20circuits%20being%20
    installed%20at%20the%20new%20Piedras%20Verdes%20Mill.png.

--  Other circuits, such as the fine ore bins and their discharge tunnels,
    are well advanced, as shown below and in the attached photo
    http://www.diabras.com/files/media/9ba2c_Fine%20ore%20bins%20and%20disch
    arge%20tunnels%20at%20the%20new%20Piedras%20Verdes%20Mill.png.

--  The tailings dam is nearing completion, as shown below and in the
    attached photo
    http://www.diabras.com/files/media/e3a2e_Tailings%20dam%20under%20constr
    uction%20at%20the%20new%20Piedras%20Verdes%20Mill.png.

--  Development of the site for shops, warehouses and offices has started,
    as seen below and in the attached photo
    http://www.diabras.com/files/media/6c5cd_Site%20development%20for%20equi
    pment%20maintence,%20warehouse%20and%20offices%20at%20new%20PV%20Mill.pn
    g.

--  The new Piedras Verdes water reservoir is 70% complete and is scheduled
    to be finished in late May, in time to store rainwater that is expected
    when the rainy season begins in late May - early June. The reservoir
    site is shown below and in the attached photo
    http://www.diabras.com/files/media/03444_New%20Piedras%20Verdes%20Reserv
    oir%20under%20final%20construction%20phase.png.

Commissioning of the Piedras Verdes Mill is a major milestone for Dia Bras. Operation of this new mill will move the Company from small-scale pilot-mining of the Bolivar Project to a significant producer of copper and zinc with by-products of silver and gold. Exploration and development work, plus pilot-mining conducted by the Company since 2005, has demonstrated that the Bolivar Project hosts abundant mineralization in several deposits, all of which will contribute feed to the new Piedras Verdes Mill.

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 Corralitos-Satevo and La Verde projects 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

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:

Daniel Tellechea

President & CEO

Dia Bras Exploration Inc.

1 (866) 493-9646


Karl J. Boltz

Vice President, Corporate Development

Dia Bras Exploration Inc.

1 (866) 493-9646