33 Carats update

MONTREAL, June 8 /CNW Telbec/ - The partnership between De Beers Canada
Inc. and DIOS EXPLORATION for over two years has enabled the 33 Carats project
to advance to the drilling stage. The 33 Carats PROJECT was funded by De Beers
since March 2003 and much value was added to the property over that period.
Following a review of the data, De Beers has informed DIOS on June 03, 2005
that it has decided to withdraw from the option agreement. This was a project
which De Beers optioned into and where DIOS were the operators. De Beers has
spent over $ 1.7 million in exploration to date. Mining claims will be renewed
and left in good standing for a year.
DIOS will continue to search for the sources of the outstanding
kimberlite indicator minerals dispersal trains located on its wholly-owned
33 Carats property, and is looking forward for further business associations
with De Beers in the future. Upon reception of the latest till results
expected in June-July, DIOS plans to carry out further prospecting, geophysics
and drilling this year.
"We are pleased with the effort and quality of the work that the DIOS
technical team invested in the 33 Carats project and we look forward to
working together again in the future," said Martin Doyle, Senior Vice
President Exploration for De Beers Canada Inc.

DIOS is a major player in diamond exploration in Quebec with several
projects being developed along the favourable Mistissini-Lemoyne Structure
that hosts several kimberlites, including the Ashton-Soquem Renards
diamondiferous cluster. DIOS recently generated two new projects with
significant results aiming at investigating the southern suggested portion of
that structure.

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