Arias Resource Capital Fund L.P. increases position in Dia Bras Exploration
Inc. pursuant to Rights Offering


TORONTO, May 21 /CNW/ - Arias Resource Capital Fund L.P. (the "Fund"), announced that it has acquired 65,144,875 common shares ("Common Shares") of Dia Bras Exploration Inc. (TSX-V: DIB) (the "Company") pursuant to the Company's equity rights offering that was announced on April 1, 2010 (the "Rights Offering"). The Fund acquired the Common Shares at a price of C$0.17 per Common Share for an aggregate price of $11,074,629. This transaction brings the Fund's aggregate holdings of Common Shares to 267,742,329, representing approximately 55.71% of the Company's issued and outstanding Common Shares as of May 21, 2010. The Common Shares currently owned by the Fund include 20,000,000 Common Shares acquired on the exercise of warrants since the filing of Fund's last early warning report in respect of the Company on November 16, 2009.

In addition, the Fund holds warrants exercisable for an additional 97,508,500 Common Shares at exercise prices ranging from C$0.10 per share to C$0.20 per share. The Fund's Common Shares and warrants represent approximately 63.18% of the issued capital of the Company calculated on a partially diluted basis.

Under the terms of the Rights Offering, shareholders of record on April 10, 2010, were entitled to receive one right ("Right") for each Common Share held. Four Rights entitled eligible holders to purchase one Common Share at a price of $0.17 prior to 4:00 p.m. (Montreal time) on May 13, 2010 (the "Basic Subscription Privilege"). In accordance with the Additional Subscription Privilege, holders of Rights who exercised in full the Basic Subscription Privilege for their Rights were also entitled to subscribe pro-rata for Common Shares, if any, not otherwise purchased pursuant to the Basic Subscription Privilege.

The Fund acquired 50,649,363 Common Shares pursuant to the exercise, in full, of its Basic Subscription Privilege and, pursuant to the Additional Subscription Privilege, the Fund acquired 14,495,512 Common Shares.

The Fund acquired the Common Shares for investment purposes and may in the future increase or decrease its ownership of securities of the Company from time to time depending upon the business and prospects of the Company and future market conditions.

The dissemination of this release in the United States or to any United States news service may constitute a violation of U.S. securities laws.

SOURCE Arias Resource Capital Fund L.P.

For further information: For further information: Alberto Arias, Director, phone: (212) 266-8600, fax: (212) 266-8615, e-mail:

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