Dia Bras announces termination of letter of intent to acquire Plexmar

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TSX Venture Exchange - DIB
Bolsa de Valores de Lima - DIB

TORONTO, June 15, 2012 /CNW/ - Dia Bras Exploration Inc. (TSX-V:DIB) (BVL:DIB) ("Dia Bras"), a Canadian mining company focused on precious and base metals in Peru and Mexico, announces that the letter of intent dated April 17, 2012 between Dia Bras and Plexmar Resources Inc., previously announced on April 23, 2012, has been terminated in accordance with its terms.

Daniel Tellechea, President and CEO of Dia Bras, commented: "After a thorough due diligence process on Plexmar Resources, we believe that this acquisition does not meet our investment criteria and development strategy under the terms of the Letter of Intent."

About Dia Bras

Dia Bras Exploration is a Canadian mining company focused on precious and base metals in Chihuahua State, other areas of northern Mexico, and 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 (Chihuahua State). Dia Bras is also exploring base metal projects in Mexico such as the Corralitos intrusion-hosted molyebdenum deposit.

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 that 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.

SOURCE Dia Bras Exploration Inc.